Diabetes Care Devices Market to Grow at 6+% CAGR to Reach USD 39,382.3 Million by 2027 Led by Ascensia Diabetes, AgaMatrix, Nemaura, Medi World, Mitsui, Gerresheimer, Copernicus, Biocon, VITRONIC, FAULHABER Group, TOPAS, CeQur, TaiDoc, Hannox, Tyson Biore
The global diabetes care devices market accounted to US$ 23,354.3 Mn in 2018 and is expected to grow at a CAGR of 6.1% during the forecast period 2019 – 2027, to account to US$ 39,382.3 Mn by 2027.
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Asia Pacific is the fastest growing geographic market and it is expected to be the second largest revenue contributor throughout the forecast period. The growth is contributed majorly by driving factors such as significant rise in the prevalence of diabetes across the countries, rise in the government support for the diabetes care. In addition, the market players are also supporting the diabetes care in the countries through creating awareness and various initiatives.
Diabetes Care Devices Market Insights: Increasing Prevalence of Obesity Across The Globe
Obesity, sedentary lifestyle and improper diet play a major role in increasing diabetes among the population worldwide. Physical activity is important to maintain the blood glucose level. Lack of exercise and unhealthy diet such as diet high in fat and calories increase the risk for the development of obesity and diabetes. Obesity is one of the major problem and the biggest concern in all the communities across the globe. Currently, more than one in two adults and nearly one in six children are obese. Obesity is one of the major issue affect people of all ages and incomes globally. According to World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older were overweight. And out of these over 650 million adults were obese. Therefore, owing to the above mentioned factors the market is likely to fuel its growth during the forecast period.
Diabetes Care Devices Market Growing Medical Tourism In Developing Countries:
The emerging markets in the developing countries are the major factor which are giving better opportunity for the major players to expand their business. These are becoming a major reason for the market growth in the forecast period. Most of the market players focus on emerging market such as Asia Pacific due to an increase in the prevalence of diabetes and increasing popularity of diabetes care devices in the region. In India, medical science has growing rapidly as well as big steps forward in past few decades. In India the diabetes treatment has become so popular and common that people from other countries are coming here to get themselves treated. The most possibly and compelling reason of this might be the excessively high expenses for health care causes in their own country. Health travelers who visit developing countries for medical reasons save 65% to 80% on health cost compared to the cost in the US. Thus, the factors are likely to create growth opportunities for the growth of the market in coming years.
Diabetes Care Devices Market Product Insights:
The global diabetes care devices market by product segments was led by glucose monitoring devices segment. In 2018, the glucose monitoring devices held a largest market share of 54.1% of the diabetes care devices market, by product. The glucose monitoring devices segments is also expected to be the fastest growing segments the market in 2027 owing to the presence of the various market players that are offering various products and rise in the technological advancements are likely to propel the growth of the market during the forecast period.
Diabetes Care Devices Market Strategic Insights:
Product launches and up gradation were observed as the most adopted strategy in global diabetes care devices industry. For instance, in March 2019, Tandem Diabetes Care, Inc has announced that it is now registered as an approved vendor of insulin pumps and supplies under the Assistive Devices Program (ADP) in Ontario, Canada. Thus, the expansion move by the company is likely to boost up the growth of its own and is likely to contribute to the market in the coming future.
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DIABETES CARE DEVICES – MARKET SEGMENTATION
Global Diabetes Care Devices Market – By Product
• Glucose Monitoring Devices
o Testing Strips
o Other Glucose Monitoring Devices
• Insulin Delivery Devices
o Insulin Pens
o Insulin Syringes
o Insulin Pumps
o Other Insulin Delivery Devices
Global Diabetes Care Devices Market – By End User
• Hospitals & Clinics
• North America
• Asia Pacific (APAC)
o South Korea
• Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o South America (SAM)
Diabetes Care Devices Market - Company Profiles:
1. Ascensia Diabetes Care Holdings AG.
4. Medi World
5. Mitsui & Co
6. Gerresheimer AG
10. FAULHABER Group
11. TaiDoc Technology Corporation
12. Hannox International Corp.
13. Apex Biotechnology Corporation
14. Tyson Bioresearch Inc.
15. Rheamed Biotechnology Company
16. Zen Strong Medical Technology Co., Ltd.
17. Biotest Medical Corporation
19. Biosense Technologies Private Limited
20. Nipro iMEP
21. Hindustan Syringes & Medical Devices Ltd
22. Artsana S.p.A. (Pikdare S.r.l.)
23. Alpine Health
24. Tiger Surgical
25. Allison Medical, Inc
26. SOOIL Developments Co., Ltd.
27. Debiotech S.A
29. CeQur SA
30. WTWH Media, LLC.
31. Valeritas, Inc
32. Companion Medical
33. Digital Medics Pty Ltd.
34. DIAMESCO Co., Ltd.
TABLE OF CONTENTS:
1.1 SCOPE OF THE STUDY
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3 MARKET SEGMENTATION
1.3.1 Global Diabetes Care Devices Market – By Product
1.3.2 Global Diabetes Care Devices Market – By End User
1.3.3 Global Diabetes Care Devices Market – By Geography
2. GLOBAL DIABETES CARE DEVICES MARKET – KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
4. GLOBAL DIABETES CARE DEVICES– MARKET LANDSCAPE
4.2 PEST ANALYSIS
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia Pacific – PEST Analysis
4.2.4 Middle East & Africa – PEST Analysis
4.2.5 South & Central America – PEST Analysis
5. DIABETES CARE DEVICES MARKET – KEY MARKET DYANAMICS
5.1 KEY MARKET DRIVERS
5.1.1 Rising Incidence of Diabetes
5.1.2 Growing Geriatric Population
5.1.3 Increasing Prevalence of Obesity Across The Globe
5.1.4 Rapid Technological Advancements in Diabetes Care Devices
5.2 KEY MARKET RESTRAINTS
5.2.1 High Cost of Diabetes Care Devices
5.2.2 Risks Associated with the Insulin Delivery Devices
5.3 KEY MARKET OPPORTUNITIES
5.3.1 Growing Medical Tourism In Developing Countries
5.4 FUTURE TRENDS
5.4.1 Growing Product Innovations
5.5 IMPACT ANALYSIS
6. DIABETES CARE DEVICES MARKET – GLOBAL ANALYSIS
6.1 GLOBAL DIABETES CARE DEVICES MARKET REVENUE FORECASTS AND ANALYSIS
6.2 GLOBAL DIABETES CARE DEVICES MARKET, BY GEOGRAPHY - FORECASTS AND ANALYSIS
6.3 PERFORMANCE OF KEY PLAYERS
6.3.2 F. Hoffmann-La Roche Ltd.
Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Diabetes Care Devices Market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Diabetes Care Devices Market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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