Diabetes Care Devices Market 2020: Applications, Types and Growing Trends in Market, Gross Margin and Market Share 2022

Diabetes Care Devices Market - By Type (Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors), By Applications, And By Region, Opportunities And Strategies – Global Forecast To 2022 By The Business Research Company

The global diabetes care devices market reached a value of nearly $28.9 billion in 2018, having grown at 6.5% since 2014. Growth in the historic period resulted from increasing diabetes prevalence and economic growth. Factors that negatively affected growth in the historic period were lack of awareness, low healthcare access and preference for oral treatment.

The Key drivers of the diabetes care devices market include:-
Increase in Diabetes Prevalence: Nutrition and lifestyle modifications led to a rise in the prevalence of all non-communicable diseases including diabetes. Increases in the size of the obese population, unhealthy eating habits, physical inactivity and increasing age are some of the key factors which led to the increase in the global prevalence of diabetes during the historic period.

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Diabetes Care Devices Market Segmentation:-
By Device Type
1. Insulin Pens, Syringes, Pumps And Injectors
2. Blood Glucose Test Strips
3. Blood Glucose Meters
4. Continuous Glucose Monitoring Devices
5. Lancing Devices

Continuous Glucose Monitoring Devices had the highest growth rate of nearly 18% during the historic period. The fastest market growth can be attributed to the embryonic stage of the market for such devices and their increased adoption due to these devices being easier to use than conventional glucose monitoring devices such as glucose meters. Although CGM has been available for more than a decade, adoption has been relatively low, particularly outside the United States and European countries, and coverage by global reimbursement authorities has been limited. There is limited evidence on effectiveness of usage of CGM due to lack of robust clinical trials about the value of CGM in patients receiving multiple daily insulin injections (MDI) versus use of CGM in combination with insulin pump therapy.

By End Use
1. Homecare/Personal Use
2. Diagnostic centers
3. Hospitals

Homecare/personal use accounted for the largest share of the diabetes care devices market in 2018 at 60.07%.

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By Geography - The diabetes care devices market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the diabetes care devices market are
1. Medtronic plc
2. Roche Holding AG
3. Johnson & Johnson (J&J)
4. Sanofi
4. Becton,
5. Dickinson and Company

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