Diabetes Monitoring Devices Market Report 2020 Size, Share, Growth, Business Analysis, and Regional Forecast to 2026 is latest research report on Global Diabetes Monitoring Devices Market published by “Fortune Business Insights”. According to report the Global Diabetes Monitoring Devices Market to grow at 5.4% CAGR and reach $32,881.9 million value by 2026. Diabetes Monitoring Devices Industry report anlayzes Market for Blood Glucose Monitoring Devices by Product (Blood Glucose Meters, Test Strips, Lancets), Distribution Channel (Institutional Sales, Retail Sales) & Regional Forecast, 2019-2026.
Diabetes Monitoring Devices Industry Key Players Analyzed in Report Are:
Hoffmann-La Roche Ltd, Tandem Diabetes Care, Braun Melsungen AG, PHC Holdings, Corporation, Medtronic, BD, Novo Nordisk A/S, Abbott, Sanofi.
Global Diabetes Monitoring Devices Market Insights:
The global Diabetes Monitoring Devices market size is predicted to grow $32,881.9 million by 2026, exhibiting a CAGR of 5.4% during the forecast period. Diabetes Monitoring Device is medical device used to calculate amount of glucose in the blood.
As per the report, the increasing prevalence of diabetes among geriatric patients is expected to propel growth of the global diabetes monitoring devices market. For instance, according to statistics by the International Diabetes Federation (IDF), more than 80% of the population was suffering from type 2 diabetes. In addition, surge in the sedentary lifestyle is expected to further enable the growth of the global diabetes monitoring devices. For instance, according to the International Diabetes Federation (IDF), an estimated 422 million adults were suffering from diabetes in 2016 and the prevalence is projected to be doubled by 2030.
Diabetes Monitoring Devices Market Segmentation:
The global Diabetes Monitoring Devices Market is segmented on the basis of Product, Distribution Channel and Region.
Based on Product the Global Diabetes Monitoring Devices Market is segmented into Blood Glucose Meters, Test Strips, Lancets.
Based on Distribution Channel the Diabetes Monitoring Devices market is segmented by Institutional Sales, Retail Sales.
On the basis of region market for Diabetes Monitoring Devices segmented by North America, Europe, Asia-Pacifica, Africa and other regions.
Regional Market Insights:
Report analyzes Global Market for Diabetes Monitoring Devices by North America, South America, Asia-Pacific, Europe, Middle East and Africa.
As per the report, the global diabetes monitoring devices on the basis of geography is categorized into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. The global diabetes monitoring devices market in Europe was valued at US$ 10,029.7 Mn in 2018 and is expected to dominate the market during the forecast period.
According to the World Health Organization, in 2015, 60 million people were suffering from diabetes in Europe. Furthermore, the increasing diabetic population in Europe and comparatively low prices of insulin and insulin delivery devices along with increasing demand and sales of insulin delivery devices are some of the major factors predicted to boost the market in Europe. The diabetes devices market in Asia Pacific is expected to grow at significantly higher CAGR during the forecast period due to the increasing diabetic population. The rising adoption of the technologically advanced blood glucose meters and higher demand for insulin delivery devices will further boost the growth in the region.
Global Diabetes Monitoring Devices Market Growth Insight:
The surge in alcohol consumption and growing stress among the general population will aid the growth of the diabetes monitoring devices market. The increasing awareness about diabetes management in emerging nations will contribute significantly to the diabetes industry. The launch of a shoebox-sized device by DiaMontech GmbH is expected to enable growth of the market. For instance, DiaMonTech GmbH, in, launched a shoebox-sized device that can diagnose the blood glucose levels by using an infrared light beam through the skin. Furthermore, the approval from the FDA for t:Slim X2™ insulin pump will also bode well for the market growth. For instance, Tandem Diabetes Care, Inc., received FDA approval for the marketing of the first insulin pump with interoperable technology for children and adults with diabetes. t:Slim X2™ insulin pump is the first device to be classified under a new de novo premarket review pathway.
In, addition, rising adoption of insulin patches, wearable continuous blood glucose monitoring systems and smart insulin pumps for self-diabetes management is also one of the factors contributing to the diabetes monitoring devices market trend.
Highlights of the Report:
In-depth analysis of various insights, namely, Diabetes Monitoring Devices Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Diabetes Monitoring Devices Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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