The Asia Pacific Diabetes Care Devices Market has been estimated at USD 2.461 Billion in 2015 and is projected to reach USD 3.518 billion by 2020, at a CAGR of 7.41% during the forecast period from 2015 to 2020.Diabetes is a group of metabolic disorders, chronic condition which is associated with abnormally high level of sugar (glucose) in the blood. South- East Asia currently witnesses 78.3 million people affected with Diabetes which is going to reach 140.2 million by 2040. Western Pacific region witnesses 153.2 million people affected with diabetes and this number is said to reach 214.8 million by 2040.
Diabetes is the most widespread disease globally which is caused by the imbalance of blood sugar level in the body. The disease is either genetically inherited or the changing lifestyle these days and unhealthy diets can also cause diabetes. This further has severe effects on the body like internal damaging of organs and hence require regular monitoring and controlled level of sugar. Diabetes care devices market is growing at a very fast rate due to the increase in number of incidences of diabetes, especially in aged population. These devices are user friendly and can be operated by patients themselves, they monitor the blood glucose level and help people to control the level..
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Diabetes Care Devices Market: Drivers & Restraints
Need for the devices that are faster, effective, safer and user friendly is growing rapidly, which is majorly fuelling the growth of the market. Government and private investment in R&D leading to technical innovations, increasing number of diabetic patients, diagnosis and treatment using non-invasive techniques, reducing treatment rates and rising awareness are some of the major factors driving the growth of the market.
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Diabetes Care Devices Market: Segmentation
Based on Type:
- Diabetes Monitoring Devices
- Self-Blood Glucose Monitoring Devices
- Continuous Glucose Monitoring Devices
- Insulin Delivery Systems
- Insulin Pens
- Insulin Pumps
- Jet Injectors
- Insulin Syringes
- Diabetes Control Solutions
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Diabetes Care Devices Market: Overview
Asia Pacific has the highest diabetes population with the number increasing in quite an alarming rate. Due to this there is a huge demand in diabetes care devices which is primarily driving the market here. Also, the increasing healthcare costs is driving the market with increased revenues accumulated by the companies in this region. But the market growth is constrained here due to low medical literacy rate which is leading to the fall in sales of devices.
Diabetes Care Devices Market: Region-wise Outlook
Geographically, the market in Asia Pacific region is segmented into China, India, Japan, Korea and Australia. China and India are the leading contributors in this region with large incidence of companies involved in manufacturing diabetes care devices, due to the highest prevalence of diabetes population in their regions. China has the world’s largest population with close to 1.4 billion people, followed by India with around 1.2 billion people in 2014. According to the International Diabetes Federation, China had the largest number of diabetic patients with around 96.2 million diabetic patients followed by India with around 66.8 million diabetic patients in 2014. This represents a majority of approximately 40-45% of the global diabetic population living in India and China, providing significant opportunities for the global diabetes care devices companies to invest in this region.
Key Questions Answered
Diabetes Care Devices Market: Key Players
Roche Diagnostics, Ascensia, Abbott Laboratories, Novo Nordisk, Johnson & Johnson, Tandem and Terumo are the top companies in Asia Pacific Diabetes Care Devices Market.
Reasons to buy Diabetes Care Devices Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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