The Global Diabetes Devices Market is anticipated to exhibit an impressive CAGR of 5.5% on account of rising prevalence of diabetes. Key insights into this fast growing market, valued at US$ 32,441.3 mn in 2018, have been shared by Fortune Business Insights in its report, titled “Diabetes Devices Market Size, Share and Global Trend By Product (Monitoring Devices, Treatment Devices), By Distribution Channel (Institutional Sales, Retail Sales) and Geography Forecast till 2026”.
The report brings out the key aspects that will influence the market in the forecast period. Diabetes is a metabolic disease in which the body is unable to process glucose, leading to elevated levels of blood sugar. This happens as the body does not make enough insulin (a hormone made by the pancreas), which helps the glucose enter the cells and supply the body with energy to function. Diabetes devices such as insulin pumps and continuous glucose monitors are used by medical professionals and patients to regulate and monitor blood glucose levels.
Europe to Occupy Dominant Market Position
With a revenue generation of US$ 10,029.7 in 2018, Europe is anticipated to continue to dominate the global diabetes devices market in the forecast period. Major factors that are expected to the drive the market in Europe are rising percentage of aging populations with Type 2 diabetes and access to low-cost insulin devices.
The Asia-Pacific region is expected to register a remarkably high CAGR owing to the increasing incidence rates of diabetes among the population, a higher demand for monitoring devices, and growing adoption of advanced blood glucose meters.
Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Diabetes Devices market. Some of the companies operating the global Diabetes Devices market are;
- Hoffmann-La Roche Ltd.
- Medtronic
- Tandem Diabetes Care, Inc.
- BD
- Eli Lilly
- Company
- Sanofi
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Increasing Incidence of Diabetes to Fuel the Market
The International Diabetes Foundation has estimated that by 2040, the number of people affected by diabetes will reach 642 million. Diabetes is a lifelong condition and an increasing prevalence of the disease bodes well for the global diabetes devices market. Increasing sedentary lifestyles, lack of exercise, obesity, excessive consumption of fatty and sugar-laced food, and rising stress levels are enhancing the risk of diabetes among people. The market size is expected to expand as novel devices are introduced in the market such as wearable glucose monitoring devices and smart insulin pumps. This expansion will happen on account of rising demand for non-invasive techniques to monitor and regulate blood sugar levels in real-time.
Additionally, aging populations are increasing in the world, especially the western countries, and the incidence rate of Type 2 diabetes is expected to rise in tandem. This factor will be a major booster for the global diabetes devices market in the forecast period.
Key Segmentation:
By Product
- Monitoring Devices
- Blood Glucose Meters
- Test Strips
- Lancets
- Others
- Treatment Devices
- Insulin Pens
- Insulin Pumps
- Insulin Jet Injectors
- Insulin Syringes
- Others
- By Distribution Channel
- Institutional Sales
- Hospitals
- Clinics
- Others
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Some major points from Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence Of Diabetes, 2018, Key Countries/ Region
- Technological Advancements
- Pricing Analysis, Key Regions/Key Players
- Recent Industry Developments Such As Mergers & Acquisitions
- Global Diabetes Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast– By Product
- Monitoring Devices
- Blood Glucose Meters
- Test Strips
- Lancets
- Others
- Treatment Devices
- Insulin Pens
- Insulin Pumps
- Insulin Syringes
- Insulin Jet Injectors
- Others
- Market Analysis, Insights and Forecast– By Distribution Channel
- Institutional Sales
- Hospitals
- Clinics
- Others
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast– By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Institutional Sales
- Monitoring Devices
- North America Diabetes Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Monitoring Devices
- Blood Glucose Meters
- Test Strips
- Lancets
- Others
- Treatment Devices
- Insulin Pens
- Insulin Pumps
- Insulin Syringes
- Insulin Jet Injectors
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Institutional Sales
- Hospitals
- Clinics
- Others
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- S.
- Canada
- Institutional Sales
- Monitoring Devices
- Europe Diabetes Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Monitoring Devices
- Blood Glucose Meters
- Test Strips
- Lancets
- Others
- Treatment Devices
- Insulin Pens
- Insulin Pumps
- Insulin Syringes
- Insulin Jet Injectors
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Institutional Sales
- Hospitals
- Clinics
- Others
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country/Sub-region
- K.
- Germany
- Spain
- Itlay
- Scandinavia
- France
- Rest of Europe
- Institutional Sales
- Monitoring Devices
Continued…
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