Diabetes Care Devices Market to Witness Rapid Surge During The Forecast Period (2020-2027)

"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." 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.

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.

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Company Profiles

o BD
o Novo Nordisk A/S
o B. Braun Melsungen AG
o Insulet Corporation
o Medtronic
o Tandem Diabetes Care, Inc.
o Eli Lilly and Company
o Dexcom, Inc.
o Terumo Corporation
o F. Hoffman-LA Roche Ltd.

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.

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.

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This release was published on openPR.