India Diabetes Devices Market 2020 With COVID-19 Impact Analysis, Business Opportunities and Future Outlook 2024 | Becton and Dickenson, Medtronic, Insulet, Tandem, Ypsomed, Novo Nordisk, Sanofi, Eli Lilly, Abbott, Roche
The market for Diabetes Devices is expected to grow at a CAGR of 4.5% during the forecast period of 2019 -2024.
Increasing demand for Enhanced Oil Recovery process is expected to stimulate the Diabetes Devices market growth as polyDiabetes Devices has major application in the process.
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Market By Top Leading Players-
Becton and Dickenson, Medtronic, Insulet, Tandem, Ypsomed, Novo Nordisk, Sanofi, Eli Lilly, Abbott, Roche, Lifescan (Johnson &Johnson)
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- The Globaln diabetes devices market has been estimated at USD 1.8 billion in 2019, registering a CAGR of 2.32% during the forecast period from 2019 to 2024.
- Diabetes care devices are the devices used to control the glucose levels in the blood. The main types of diabetes care devices include glucose monitoring devices and management devices.
- The continuous glucose monitoring devices have become immensely popular due to the rise in
- Global holds the second largest market in the diabetes care devices market after China in the Asia-Pacific region, because of the high diabetes population in the country. The diabetes population is also expected to reach 85.9 million in 2024, in Global.
Key Market Trends
Monitoring Devices Held 7.50% of Share in Global Diabetes Devices Market in the year 2018.
- Monitoring devices include self-monitoring blood glucose (SMBG) and continuous glucose monitoring devices (CGM), where SMBG segment of the market studied has the highest share in the year 2018, with a revenue of USD 0.1 billion.
- The frequency of monitoring glucose levels depends on the type of diabetes, which varies from patient to patient.
- Type-1 diabetic patients need to check their blood glucose levels at regular intervals to monitor their blood glucose levels and adjust the insulin dosing accordingly.
- Therefore, if a patient performs 5-6 tests in a day, the average expenditure on test strips would be over USD 180/month. These expenses add to the already high diabetes management costs and are impeding the market growth.
- The current CGM devices reduce all the finger prickings for measuring blood glucose levels. It shows a detailed representation of blood glucose patterns and tendencies than what can be achieved by conventional routine checking of glucose levels at set intervals.
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Global has the Highest Number of Diabetes Patients next to China.
- With 50.8 million people suffering from diabetes, Global continues to be the diabetes capital. By 2030, nearly 9% of Globals population is likely to be affected by diabetes, according to a study conducted by the International Diabetes Federation.
- Obesity, especially central obesity and increased visceral fat due to physical inactivity, and consumption of a high-calorie/high-fat and high sugar diets are the major contributing factors for diabetes in Global
- The most prominent work culture perpetuated in the country, which includes sitting for hours in one position and eating fast food with little or no physical activity, is a significant contributor to diabetes in the working age group, causing this rapid increase in diabetes cases in Global.
Key Takeaways from this Report
─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals
─Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities
─Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more
─Analyze the sales and distribution channels across key geographies to improve top-line revenues
─Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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