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Diabetes Monitoring Devicesy Market : Region Wise Analysis of Top Players in Market by its Types and Application
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Market Dynamics
The major factors contributing the growth of global diabetes monitoring devices market are increasing number of patients suffering from diabetes across the world. According to the World Health Organization (WHO) 2014, diabetes is one of the diseases that has dire consequences on health, which affected around 422 million people across the world in 2014. Moreover, it has resulted in approximately 1.6 million deaths in 2015, which increases the demand for management solutions. Moreover, obesity is one of the other prominent factor that leads to the cause of diabetes in most of the obese patients. According to The National Institute of Diabetes and Digestive and Kidney Diseases, Statistics on Diabetes 2015, over 90% of patients suffering from diabetes were reported to be obese. However, the high cost of these devices coupled with the calibration errors associated with these devices are hindering the market growth. The research and development in the area of continuous glucose monitors are expected to provide growth opportunities for new and established market players to capitalize upon and witness growth in terms of sales, as these devices are in high demand due to the hassle free diabetes monitoring records that they provide in real time at a go.
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