Diabetes refers to the high presence of blood glucose, also called blood sugar, in the body. There are three main types of diabetes: type 1, type 2 and gestational diabetes. The oral glucose tolerance test and the haemoglobin A1c (HbA1c) test are some of the tests that are used to diagnose a chronic condition. Dipeptidyl peptidase-4 (DPP-4) inhibitors, thiazolidinediones, meglitinides, sulfonylureas and metformin are some of the treatments used to treat diabetes.
The global diabetes equipment and pharmaceutical market is expected to grow in the forecast period due to the rising rate of diabetes. For example, according to the study, “Global and Regional Diabetes Outbreak Predictions for 2019 and Forecasts for 2030 and 2045: Results of the 9th edition of the International Diabetes Federation Diabetes Atlas”, published in September 2019 in the journal Diabetes Research and Clinical Practice, 463 million people worldwide are expected to suffer from diabetes in 2019 and this number is expected to reach 578 million by 2030 and 700 million by 2045.
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The size of global diabetes devices and drugs market is estimated to be valued at US$ 118,955.0 Million and during the estimated period (2021-2028) it is expected to witness the value US$ 231,909.8 Million at CAGR of 10.00%.
Key Companies:
-
- Abbott Laboratories *
- Bristol-Myers Squibb
- DexCom, Inc.
- Eli Lilly and Company
- Companion Medical
- GlaxoSmithKline plc
- Glenmark Pharmaceuticals
- Johnson & Johnson
- Lupin Ltd.
- Hoffmann-La Roche AG
- Sanofi
Moreover, the high incidence of obesity is also expected to contribute to the growth of the market. For example, in 2018, as per the CDCP, Behavioural Risk Factors Monitoring System, 71424.3 thousand people in the US are obese.
Therapeutics has a leading position in the global diabetes equipment and drug market in 2019, considering 74.1% in terms of value, followed by diagnosis and monitoring.
Global Diabetes Devices and Drugs Market: Restraints
Lack of awareness about diabetes diagnosis and treatment, especially in emerging economies, is expected to hinder the growth of the global diabetes equipment and pharmaceutical market. The disease was considered common in older adults. altough, the condition is more common in children and adolescents. In 2018, 7.3 million people in the US were not diagnosed with diabetes, as per the American Diabetes Association.
Furthermore, recall of diabetes drugs is expected to limit market growth. For example, JAMP Pharma Corporation voluntarily recalled metformin, an anti-diabetic drug, from the Canadian market in March 2020, due to the possible presence of nitrosamine impurities in the finished product.
Global Diabetes Devices and Drugs Market: Opportunities
Rising rates of diabetes in emerging economies are expected to provide profitable growth opportunities for market players. For example, according to the National Diabetes and Diabetic Retinopathy Survey Report released by the Government of India, in October 2019, the prevalence of known diabetes cases was 8.0% and new diabetes cases in India during 2015-2019 were 3.8%.
Furthermore, research and development in diabetes is also expected to help market growth. For example, in April 2020, researchers at the University of Messina in Italy reported that measurements of the band 3 protein ion exchange potential could help monitor the effects of hyperglycaemia on erythrocyte homeostasis.
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Global Diabetes Devices and Drugs Market: Key Takeaways
The financial burden of diabetes is high in the United States. For instance, according to the study, ‘The Economic Burden of Elevated Blood Glucose Levels in 2017: Diagnosed and Undiagnosed Diabetes, Gestational Diabetes, and Prediabetes’, published in the journal Diabetes Care, in the US, the financial burden on diabetes in April 2019 was US $ 327.2 billion for diagnosed diabetes, US $ 31.7 billion for undiagnosed diabetes, US $ 43.4 billion for pre-diabetes and US $ 1.6 billion for gestational diabetes in 2017.
The development of new insulin management methods is expected to help the market growth. For example, researchers at Universidade de Lisboa, Portugal, reported in April 2020 that coating insulin-laden nanoparticles with chitosan could increase the parallel delivery of insulin.
Global Diabetes Devices and Drugs Market: Key Developments
Key players in the market focus on launching new products to expand their product portfolio. For example, Companion Medical launched a new version of the InPen app in April 2020, which provides a fixed dose and meal prediction dose calculator for people with type 1 or type 2 insulin-dependent diabetes.
Likewise, Nemaura Medical Inc. announced in March 2020 the launch of proBEAT, a digital healthcare subscription service that helps manage pre-diabetic and type 2 diabetes in the US.
Global Diabetes Devices and Drugs Market: Segmentation
On the basis of Category, the Global Diabetes Devices and Drugs Market is segmented into:
- Diagnosis and Monitoring
- Blood Glucose Monitoring Devices
- Other Testing Devices
- Software Programs for Diabetes Monitoring
- Artificial Pancreas
- Therapeutics
- Insulin
- Insulin Delivery
- Oral Hypoglycemic Agents
- Cell Therapies
On the basis of Disease Type, the Global Diabetes Devices and Drugs Market is segmented into:
- Type 2 Diabetes
- Type 1 Diabetes
On the basis of Region, the Global Diabetes Devices and Drugs Market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Industry Impact
Chapter 2 Global Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Competition by Types, Applications, and Top Regions and Countries
2.1 Global Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) (Volume and Value) by Type
2.3 Global Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Sales, Consumption, Export, Import by Regions
Chapter 5 North America Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 6 East Asia Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 7 Europe Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 8 South Asia Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 9 Southeast Asia Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 10 Middle East Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 11 Africa Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 12 Oceania Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 13 South America Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Analysis
Chapter 14 Company Profiles and Key Figures in Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Business
Chapter 15 Global Diabetes Devices and Drugs (Diagnosis, Monitoring, and Therapeutics) Market Forecast (2021-2028)
Chapter 16 Conclusions
Research Methodology….
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