Diabetes Care Devices Market To Witness Heavy Growth Prospects Via – Key players Braun Melsungen AG, Insulet, Medtronic, Tandem Diabetes Care, Dexcom, Hoffman-LA Roche

The diabetes care devices market by product is segmented into glucose monitoring devices and insulin delivery devices. In 2018, the glucose monitoring devices segment held a largest market share of 54.1% of the diabetes care devices market, by product. This segment is also expected to dominate the market in 2027 owing to rise in the prevalence of the diabetes and presence of the several market players that offers technically advanced products. Moreover, the glucose monitoring devices segment is also anticipated to witness the fastest growth rate of 6.4% during the forecast period, 2019 to 2027 owing to the rising demand for the glucose monitoring devices.

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Some of the prominent players operating in diabetes care devices market are, BD, Novo Nordisk A/S, B. Braun Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc., Eli Lilly and Company, Dexcom, Inc., Terumo Corporation, F. Hoffman-LA Roche Ltd.

The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in February 2019, Tandem Diabetes Care, Inc. announced that the U.S. Food and Drug Administration (FDA) has classified the t:slim X2 insulin pump as the first in a new device category called Alternate Controller Enabled Infusion Pumps (ACE pumps).

Key factors driving the market are, rising incidence of diabetes, growing geriatric population, increasing prevalence of obesity across the globe, and rapid technological advancement in diabetes care devices. However, the restraining factors for the market are high cost of diabetes care devices and risks associated with the insulin delivery devices.

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.

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.

The report segments the global diabetes care devices Market as follows:

Global Diabetes Care Devices Market – By Product

Glucose Monitoring Devices
Glucometers
Lancets
Testing Strips
Other Glucose Monitoring Devices
Insulin Delivery Devices
Insulin Pens
Insulin Syringes
Insulin Pumps
Other Insulin Delivery Devices
Global Diabetes Care Devices Market – By End User

Hospitals & Clinics
Homecare

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