Diabetes is a condition in which the body is unable to use the glucose which is the main source of energy for the body cells. There are two different type of diabetes, when the pancreases are unable to make enough insulin and the other is when the body is not responding to the insulin made. The people suffering from diabetes cannot obtain relief throughout their life.
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The factors driving the growth of the market in the BRIC region are increasing population of diabetes, low diagnosis rate; initiative taken by the government and mainly due to dynamic participation from the companies. The market for diabetes care devices exhibits high growth potential as the saturation level for the devices are expected to be very low. Advancement and innovation in technologies will further boost the market growth.
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But the factors restraining the growth of the market differs in different region of BRIC. But some of the common barriers in the growth market are illiteracy about the use of devices, incomplete awareness about the disease and its problems, limitations by geography, long registration process of medical devices and development of alternative solutions. As the issues of settlement are common, the market in the BRIC region is expected to increase exponentially. Devices which are low in cost and comfortable in use will remain the most popular.