With the advancement of drug delivery technologies and blood glucose diagnostic devices, the Diabetic Care market has emerged as a fast developing sector in healthcare. The overall market growth is gaining speed as large number of government initiatives and research & development programs have been launched in the recent years. The legal approval of the artificial pancreas or surprising advances in cell therapy such as islet cell transplant, stem cell transplant, others) are foreseen as an opportunity in Diabetic Care management. With the emergence of advanced technologies such as mobile health, precision medicine, smart sensors, wearable technologies, and 3D-printing paving its way into Diabetic Care, there has been a rising demand for the newly developed Diabetic Care products.
Type 2 diabetes is holding the maximum market share and is expected to grow at 9.16% CAGR from 2015 to 2022. The other type of diabetes includes Type 1 diabetes, and gestational diabetes. Observing current trends, gestational diabetes segment is expected to grow at a high CAGR of 11.13% from 2015 to 2022. The gestational diabetes cases are increasing since in this disease, during pregnancy, the insulin hormone secretion gets misbalanced.
With the increasing level of research and development measures, it has been estimated that the demand for diabetic drugs will escalate in the coming future as the amount of diabetic population is increasing worldwide. The global Diabetic Care market, on the basis of ecosystem, is segmented into: drug manufacturers, device manufacturers, and mobile application developers.
Drug manufacturers were holding a market share of 66% in 2014 of the entire Diabetic Care market. The other segments of ecosystem include Device manufacturers and Mobile application developers. Observing the current pattern of trends, Healthcare ITs/Big Data companies are collaborating and entering into partnerships with healthcare providers, academic institutions, pharmaceuticals, and biotechnology companies to support the growth of the Diabetic Care market.
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The global Diabetic Care market on the basis of end-use applications is classified into: patient monitoring, diagnosis, treatment, healthcare management, education & awareness, and prevention & wellness, among others. At present, patient monitoring is dominating the market and is expected to reach $24.03 billion by 2022, mostly since this application helps them to monitor the patient’s health and activity by using medical or wearable devices that are connected with mobile Health apps.
In Americas, existing players are integrating with new start-ups through partnerships and collaborations to capture the North American segment. North American local players are also aiming to capture the South American Diabetic Care market. Throughout the Asia-Pacific region, regulatory bodies are implementing policies to keep a check on latest technologies. The Americas is the largest contributor in the overall revenue generation in Diabetic Care, followed by the European region, and is expected to grow at a CAGR of 8.13% from 2015 to 2022. The Middle Eastern region is expected to show the fastest growth globally, and is expected to grow at 14.79% CAGR from 2015 to 2022. The APAC region is focusing more on technological development and introduction of new advanced tools into Diabetic Care systems, in order to develop specific therapies and solutions.
The gradual advancement and innovation of new Diabetic Care technologies are developing a concrete platform for further growth of Diabetic Care market. With the emergence of advanced technologies such as mobile health, precision medicine, smart sensors, wearable technologies, and 3D-printing into the field of Diabetic Care, there has been a rise in the overall demand of the newly developed Diabetic Care products. Presently, the main focus of the government initiatives is mainly towards developing non-invasive solutions, controlling the level of increase in diabetic population, and integrating advanced technologies to fulfill the unmet needs of the diabetic population.
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Governmental regulations and standards are playing a major role in sustaining the growth and development of the Diabetic Care market. The main aim of these regulations is to make Diabetic Care more adaptable and focused towards different types of diabetic diseases and also provide modern mobile technologies to the diabetic population. The patients benefit indirectly through these regulations as it helps them save time and cuts-down the overall cost as the patients receive the required treatment for the disease. The Diabetic Care market growth is propelled by due to factors such as: increasing demand for non-invasive treatments, technological innovation and advancement, development of artificial pancreas, and government support and regulations.
This study includes an overview and analysis of the Diabetic Care market, by type of diabetes, ecosystem (drug manufacturers, device manufacturers and mobile application developers), end-use applications, and geographical regions, allowing the research to develop a comprehensive outlook of the market. The Diabetic Care market report presents a detailed and investigative study of the entire Diabetic Care ecosystem and provides a comprehensive insight into various forms of developments, trends and key participants. The different type of diabetes are categorized into three major categories, viz. type 1, type 2, and gestational, among others, in the report. All of the above mentioned report coverage parameters are discussed across different regions like The Americas, Europe, Asia Pacific (APAC), and Rest of the World (ROW).
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