Diabetes Care Devices Market Brief Analysis By Top Key Players | Abbott Laboratories, Arkray, Inc., B. Braun Melsungen AG, Bayer Corporation, Dexcom Inc., F. Hoffmann-La Roche Ag, Johnson & Johnson (LifeScan, Inc.), Medtronic PLC, Sinocare, Inc, Nova Biom
Diabetes Care Devices Market size was valued at over USD 27.9 billion in 2018 and is expected to witness growth of over 5.9% CAGR from 2019 to 2025.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Abbott Laboratories
2. Arkray, Inc.
3. B. Braun Melsungen AG
4. Bayer Corporation
5. Dexcom Inc.
6. F. Hoffmann-La Roche Ag
7. Johnson & Johnson (LifeScan, Inc.)
8. Medtronic PLC9. Palo Alto Networks
9. Sinocare, Inc
10. Nova Biomedical, Inc.
Diabetes management and education has gathered momentum all over the world, with national health regulators and private healthcare firms undertaking notable awareness programs. One primary area of focus for these initiatives are continuous glucose monitoring (CGM) systems, becoming more widely available in both developed and emerging economies. These devices, representing an innovative approach by the diabetes care devices industry towards the tracking of glucose levels, automatically monitor blood sugar day and night.
For example, FreeStyle Libre from Abbot Laboratories lets users monitor glucose through an app on their smartphones. Similarly, Medtronic offers the Guardian Connect smart CGM for people taking insulin injections, comprised of sensors and a Bluetooth transmitter, to provide glucose data, patterns and alerts on the phone.
Elaborating further, the Guardian Connect was also the first CGM to utilize artificial intelligence for helping people who need take insulin every day to avoid cases of hypoglycemia and hyperglycemia. Constant innovations in the diabetes care devices industry has given rise to solutions that address both glucose and insulin management. Diabetes patients can now take advantage of wearable insulin delivery devices that considerably lower their average blood sugar level and daily dosage of insulin. As there exists a massive addressable demand for diabetes care devices across various regions, new and advanced products will certainly have a ready consumer base in the years to come.
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Fueled by the increasing occurrence of the disease and continuously rising healthcare expenditure, the global diabetes care devices market is projected to exceed annual revenues of over US$41.5 billion by 2025. Prominent industry participants include multinational companies like Roche, Abbot Laboratories, Bayer, B. Braun Melsungen, Medtronic and Eli Lilly.
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