Diabetes devices Market 2018 | Driving Factors, Industry Analysis, Trends, Outlook By 2025 | Novo Nordisk A/S, Bayer Healthcare AG, Johnson & Johnson, Abbott Laboratories, Becton Dickinson and Company, Medtronic

Competitive Analysis
A large number of companies compete with each other to increase their market share and sustain their positions at global level. Therefore, they have been introducing large number of innovative and technologically advanced products to the market. For instance, in May 2016, Ascensia Diabetes Care obtained CE Mark for its new CONTOUR NEXT ONE and CONTOUR PLUS ONE blood glucose monitoring systems. This is one of the major developments in the evolution of self-monitoring of blood glucose for diabetic people.
“Some of the major players in the market are Novo Nordisk A/S, Bayer Healthcare AG, Johnson & Johnson, Abbott Laboratories, Inc., F. Hoffmann La-Roche Ltd., Becton Dickinson and Company, Medtronic, Inc., and Sanofi.”

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Diabetes devices Market – Industry Highlights:

Diabetes devices market is expected to be around $35 billion by 2025. This market has witnessed enormous growth in the past few years and is driven by increasing prevalence of diabetes, growing research on diabetes, low diagnosis rate, various government initiatives and international collaborations for diabetic research. Diabetes is fourth leading cause of death among people. As per World Health Organization (WHO), in 2014, around 422 million people were living with diabetes across the globe as compared to 108 million in 1980. This prevalence has almost double since 1980, growing from 4.7% to 8.5% in the adult population. Therefore, increasing incidence of diabetes due to changes in sedentary lifestyle is the major factor contributing to the market growth.

Product Outlook and Trend Analysis:

Glucose monitoring and insulin delivery devices segment accounted for the largest share of the overall market in 2016. Glucose monitoring devices are used to monitor fluctuations in blood glucose levels. It includes continuous glucose monitoring devices such as blood glucose meters, blood glucose testing strips, and lancets. The market for glucose monitoring devices will show moderate growth in coming years whereas continuous glucose monitoring devices will show innovations leading to increase in demand of such products and are expected to grow at fastest rate over the forecast period.

Insulin delivery devices are those devices which are used to deliver insulin with devices such as insulin syringe, insulin pen, and insulin pump. The market share of insulin syringe will decrease whereas demand for insulin pen and insulin pump will substantially increase in next five years. This can be attributed to the regulatory framework to minimize needle related injuries, increased utilization of engineered devices, and patients looking for easy methods for insulin delivery in the body.

Regional Outlook and Trend Analysis:

North America dominates the global market with highest share market in 2016. This is because of presence of large targeted population with high adoption of technologically advanced products. It will continue to maintain its leading position during the forecast period, due to rising adoption of home monitoring devices and developed healthcare infrastructure.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period, due to high diabetic population and increase in disposable income of the people. Latin America is expected to be second fastest growing market because of developing economies such as Argentina and Brazil. With increase in awareness about diabetes and its treatment, increase in healthcare expenditures and various governments’ initiative will further boost the market growth.

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Diabetes devices Market - By Region:
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)

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1) An extensive research study on the Global Diabetes devices Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Diabetes devices Market.
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3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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