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Diabetes Devices Market To Reach US$ 49,588.2 Mn By 2026 | Fortune Business Insights
Browse Complete Report Details@ https://www.fortunebusinessinsights.com/industry-reports/diabetes-devices-market-100803
The report brings out the key aspects that will influence the market in the forecast period. Diabetes is a metabolic disease in which the body is unable to process glucose, leading to elevated levels of blood sugar. This happens as the body does not make enough insulin (a hormone made by the pancreas), which helps the glucose enter the cells and supply the body with energy to function. Diabetes devices such as insulin pumps and continuous glucose monitors are used by medical professionals and patients to regulate and monitor blood glucose levels.
Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Diabetes Devices market. Some of the companies operating the global Diabetes Devices market are;
· F. Hoffmann-La Roche Ltd.
· Medtronic
· Tandem Diabetes Care, Inc.
· BD
· Eli Lilly
· Company
· Sanofi
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Certain Misgivings May Restrain Market Growth
The global diabetes devices market is expected to grow on the basis of steadily rising adoption rates of various monitoring devices. However, certain devices entail a few risks, which may cast a shadow of doubt in the minds of consumers. For example, insulin pumps are very convenient and efficient way to administer the required amount of insulin into the body. But, there is a fear that patients might get infected at the catheter site. Insulin pumps are also expensive, which can push people to avail traditional methods of diabetes care. Similarly, continuous glucose monitors (CGMs) are known to be inaccurate, especially in case of drop in glucose levels. This is mainly because the technology is still developing. CGMs are also known to be expensive.
Europe to Occupy Dominant Market Position
With a revenue generation of US$ 10,029.7 in 2018, Europe is anticipated to continue to dominate the global diabetes devices market in the forecast period. Major factors that are expected to the drive the market in Europe are rising percentage of aging populations with Type 2 diabetes and access to low-cost insulin devices.
The Asia-Pacific region is expected to register a remarkably high CAGR owing to the increasing incidence rates of diabetes among the population, a higher demand for monitoring devices, and growing adoption of advanced blood glucose meters.
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