Diabetes Monitoring Devices Market Five Years Forecast Skeleton With Key Companies Medtronic, Dexcom, Sanofi, Abbott Laboratories, MediWise, Arkay

The global Diabetes Monitoring Devices Market was valued at US$ 15,276.1 million in 2016 and is expected to witness a robust CAGR of 8.87% over the forecast period (2017 - 2025).

Increasing incidence of diabetes across the world is one of the primary factor responsible to drive growth of the global diabetes monitoring devices market. For instance, according to the World Health Organization (WHO), 2014, around 8.5% of adults aged 18 and above accounting for 422 million adults were suffering from diabetes worldwide. Moreover, diabetes was the cause of 1.6 million deaths in 2015 and high blood glucose levels was the cause of another 2.2 million deaths. According to National Diabetes Statistics Report 2017 published by Centers of Disease Control and Prevention (CDC), around 9.4% of American population, which includes all age groups i.e., pediatric, adults and geriatric population accounting for 30.3 million people are suffering from diabetes whereas 33.9% of the rest population is diagnosed with pre-diabetes. The prevalence of diabetes is significant among the emerging economies of Asia. According to a study report published in World Journal of Diabetes 2012, Asian economies contribute to more than 60% of the diabetic population in the world. The massive prevalence of diabetes is thus expected to create a demand for monitoring blood glucose devices, which in turn is expected to foster growth of the global diabetes monitoring devices market.

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Glucose monitoring devices are gaining significant traction due to increasing awareness among urban population regarding advantages of glucose monitoring. For instance, a research article published in Annals of Palliative Medicine- an Open Access Journal for High Quality Research 2015, suggested that the incidence of blood glucose monitoring practices was common among 19% of the people suffering with diabetes in Canada. Furthermore, increasing number of obese population is one of the major factors leading to rise in diabetes incidence. For instance, according to National Health and Nutrition Examination Survey 2014 conducted by National Institute of Diabetes and Digestive and Kidney Diseases, more than 1 among 3 adults suffering from Diabetes in the U.S. were reported to be overweight and more than 2 in 3 adults were considered to be overweight and obese.

However, high cost of easy operating automatic glucose monitoring and other devices, pricing pressure on manufacturers, and discrepancy in reimbursement policies are expected to hinder the market growth. On the contrary, increasing efforts by healthcare authorities and medical insurance companies to educate patients regarding the advantages of diabetes monitoring devices can create potential opportunities for growth of the market.

North America accounts for highest share in the global diabetes monitoring devices market, owing to government initiatives undertaken for the prevention of diabetes and treatment support coupled with presence of leading players in the region and advanced technical implementation in drug discovery procedures. For instance, in April 2017, the Centers of Disease Control and Prevention (CDC) released a five year funding opportunity announcement to scale up the National Diabetes Prevention Program in underserved areas of the country. Moreover, the CDC’s Division of Diabetes Translation (DDT) funds state and local health departments to support programs and activities for improving health outcomes in people suffering from diabetes. Asia Pacific is expected to witness a significant growth over the forecast period, owing to increasing incidence of diabetic patients as well as development of cost-effective diabetes monitoring devices to cater the local population. For instance, according to the World Health Organization (WHO), 2017, the South-East Asian region has an estimated 96 million people suffering from diabetes, which creates high demand for blood glucose monitoring devices and medical therapies, which in turn is fueling the market growth.

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