Diabetes Monitoring Devices Market 2019 Full Market Analysis and Key Players Bayer Healthcare AG, Medtronic, Dexcom, Sanofi, Abbott Laboratories

CoherentMarketInsights.com Publish a New Market Research Report On –“ 2019 Global Analysis By Key Players – Bayer Healthcare AG, Medtronic, Dexcom, Sanofi, Abbott Laboratories, MediWise, Arkay, Inc., Cnoga Medical, and Bigfoot Biomedical. ”.

Diabetes, also known as Diabetes Mellitus (DM), is a group of metabolic disorders characterized by high blood sugar levels. The symptoms of high blood sugar include, frequent urination, increased thirst, and increased hunger. Acute complications in diabetes include, diabetic ketoacidosis, hyperosmolar hyperglycemic state, or death. Other severe complications include, cardiovascular disease, stroke, chronic kidney disease, foot ulcers, and damage to the eyes. The disorder is mainly due to the inability of pancreas to produce enough insulin. Moreover, the disease causes due to lack of response of cells of the body to the insulin.

As diabetes is a chronic disease, there is no known cure and keeping blood sugar levels as close to normal is one of the very few methods in management of the disease. Blood sugar levels can be monitored and tracked using assistive medical devices known as diabetes monitoring or blood glucose monitoring devices. These devices are available for patients suffering from both type I and type II diabetes. High prevalence of diabetes due to changing lifestyle is increasing demand for diabetes monitoring devices in developed as well as emerging economies, which in turn is propelling growth of the market.

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).

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.

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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.

Advancements in the glucose monitoring devices to boost growth of the global market

Market players are actively investing into research for developing innovative solutions by integrating units to monitor the insulin levels and maintain the blood glucose levels by automatically delivering insulin to parts of the body with the help of continuous glucose monitoring systems. For instance, in September 2017, the U.S. FDA approved first blood sugar monitor that does not require finger pricks and uses a small sensor that can be attached to the upper arm for continuous glucose monitoring. Moreover, in February 2018, Medtronic Plc introduced a next generation continuous glucose monitoring system named iPro 2 Professional to improve diabetes management in 41 economies around the world.

The key players operating the global diabetes monitoring devices market include Bayer Healthcare AG, Medtronic, Dexcom, Sanofi, Abbott Laboratories, MediWise, Arkay, Inc., Cnoga Medical, and Bigfoot Biomedical.

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