Global Diabetes Care Devices Market to surpass $ 41.5 Bn by 2025

February 25, 2020


As per the report titled ‘Diabetes Care Devices Market Size By Products (Blood Glucose Monitoring Devices {Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets}, Insulin Delivery Devices {Insulin Pumps [Tubed Pumps, Tubeless Pumps], Pen [Reusable, Disposable], Pen Needles [Standard, Safety], Syringes}), By End-Use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers, Home Care) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, The Netherlands, Sweden, Belgium, Denmark, Finland, Norway, Lithuania, Latvia, Estonia, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global diabetes care devices market is expected to accrue USD 41.5 billion by the year 2025.
 

Rising prevalence of diabetes in tandem increasing adoption of an inactive lifestyle and unhealthy diet are driving the growth of diabetes care devices market. Obesity is the leading cause of diabetes. Increasing consumption of alcohol and smoking tobacco is escalating the obese population which in turn is stimulating the demand for diabetes care devices. Technological advancements and innovations are expected to boost the market size in the coming years. However, low expenditure in diabetes management along with lack of optimal reimbursement and insurance policies for these devices will hamper the market growth during the forecast period.
 

Based on the products, insulin delivery devices market segment is anticipated to accumulate USD 16.5 billion by the end of the forecast timeline. Rising demand for minimally invasive procedures to prevent complication associated with invasive devices is driving the demand for insulin delivery devices.
 

Speaking of the end-use spectrum, hospitals segment is expected to grow considerably over the analysis period, owing to increasing number of patients suffering from conditions such as hyperglycemia and hypoglycemia which require continuous monitoring of abnormal glucose levels. Growing availability of blood glucose self-monitoring devices and portable insulin pumps for use at hospital bedside are the other factors propelling the segment growth.
 

Considering the geographical landscape, Germany accounted for 25% share of Europe diabetes care devices market in 2018 and is presumed to show sizeable growth during the predicted timeframe. Increasing diabetes patient base and rising expenditure on healthcare are driving the regional growth.
 

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India diabetes care devices market is slated to grow significantly and exhibit 8.7% CAGR during 2019-2025. The growth can be attributed to high adoption of an unhealthy dietary regimen and rising geriatric population highly prone to chronic disorders.
 

Major players of diabetes care devices market include Arkray, Inc., F.Hoffann-La Roche Ag, B. Braun Melsungen AG, Bayer Corporation, Abbott Laboratories, Dexcom Inc., Johnson & Johnson (LifeScan, Inc.), Sinocare, Inc., Medtronic PLC, Nova Biomedical, Inc., and  Becton Dickinson and Company among others.


Frequently Asked Questions (FAQ) :

Rising prevalence of diabetes in tandem increasing adoption of an inactive lifestyle and unhealthy diet are driving the growth of diabetes care devices market. Obesity is the leading cause of diabetes. Increasing consumption of alcohol and smoking tobacco is escalating the obese population which in turn is stimulating the demand for diabetes care devices. Technological advancements and innovations are expected to boost the market size in the coming years.
Insulin delivery devices market segment is anticipated to accumulate USD 16.5 billion by the end of the forecast timeline. Rising demand for minimally invasive procedures to prevent complication associated with invasive devices is driving the demand for insulin delivery devices.
India diabetes care devices market is slated to grow significantly and exhibit 8.7% CAGR during 2019-2025. The growth can be attributed to high adoption of an unhealthy dietary regimen and rising geriatric population highly prone to chronic disorders.
Major players of diabetes care devices market include Arkray, Inc., F.Hoffann-La Roche Ag, B. Braun Melsungen AG, Bayer Corporation, Abbott Laboratories, Dexcom Inc., Johnson & Johnson (LifeScan, Inc.), Sinocare, Inc., Medtronic PLC, Nova Biomedical, Inc., and Becton Dickinson and Company among others.