The global market for diabetes care devices is forecasted to reach USD 26.96 billion by 2019 at a CAGR of 5.93%. Glucose monitoring devices will be the largest category in the market, with a value of USD 14.2 billion by 2019 with a CAGR of 6.02 %.The insulin delivery devices market is forecasted to grow at a CAGR of 5.59 % to reach revenues of USD 12.76 billion in 2019.
Globally, diabetes continues to be the fourth leading cause of death by a disease. According to the International Diabetes Federation, seven million people are added every year to the pool of 246 million diabetics. 3.8 million people die each year from diabetes and even more people die of other chronic diseases as a result of diabetes.
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Global Diabetes Care Devices Market-Market Dynamics
The global diabetes patient pool is expected to reach 380 million by 2025 because of increasing aging population, sedentary lifestyle, and unhealthy dietary patterns. The report details several driving and restraining factors for the global diabetes care devices market. Some of these are listed below.
The market is primarily expected to be driven by:
Large patient pool suffering from diabetes
Increase in innovation technologies
More R&D in diabetes diagnosis and treatment
Minimally or non-invasive products
Improving diagnosis and treatment rates
Growing need for faster, safer and effective method of diagnosis and treatment of diabetes
The market is constrained by high cost associated with diagnosis and treatment, reimbursement issues and patent expiry.
The market is segmented into glucose monitoring devices market and insulin delivery devices market. The glucose monitoring devices market is segmented into blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring device. Insulin delivery devices market is further segmented into insulin syringes, insulin pens, insulin pumps and insulin injectors.
The glucose monitoring devices market will show moderate growth by 2019. Continuous glucose monitoring devices will show more innovations and technological advances. CGM devices are increasingly being widely used and saw growth of just under 20% in 2012. Insulin delivery devices landscape in the US will allow for strong growth by 2017 and the insulin syringe patient share will decrease, while the insulin pen and insulin pump patient share will increase over the next five years.
Geographically, the market is segmented into North America, Europe, Asia-Pacific and RoW. Among the different geographies, the US forms the major revenue pocket, contributing one-thirds of the global revenue. Asia-Pacific region, especially China, is expected to show a huge growth in this market because of continuous economic growth, the high population suffering from diabetes, drastic change in the lifestyle, and lack of awareness in people for diagnosis and treatment.
Some of the key players in the market are:
Johnson & Johnson
Merck & Co.
What the Report Offers
Market definition for global diabetes care devices market with information on drivers and restraints.
Market analysis involving glucose monitoring devices and insulin delivery devices.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape with profiles of major companies along with their market share.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
We provide you the longest market segmentation by glucose monitoring devices (blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring device) and insulin delivery devices.
A comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade.
Wide-ranging information provided about the leading market players, major strategies adopted by them and new products launched by them.
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