Diabetes Care Devices Market 2021-2025 Top Trends, Business Opportunity, and Growth Strategy-Novo Nordisk A/S, Sanofi Aventis, Eli Lilly
MarketInsightsReports published a new research publication on “Diabetes Care Devices” Market Insights, to 2025 and enriched with self-explained data in presentable format. In the Diabetes Care Devices market study you will find new evolving Trends, Drivers, Restraints, and Opportunities generated by targeting Diabetes Care Devices market associated stakeholders. The growth of the market was mainly driven by the increasing spending across the world.
Some Of The Key Players Profiled In The Study Are-
Novo Nordisk A/S, Sanofi Aventis, Eli Lilly, F. Hoffmann-La Roche Ltd, Abbott Diabetes Care, Johnson and Johnson (Lifescan), Arkray, Ascensia Diabetes Care, AgaMatrix Inc., Dexcom, Medtronic, Ypsomed Holding AG, Terumo, LMC Diabetes and Endocrinology, Bayshore Health Care, Express Scripts, One Drop, TELUS Health, COMPANY SHARE ANALYSIS
Sample Report + All Related Information-
Canada diabetes care devices market is expected to register a CAGR greater than 10.02% during the forecast period (2020-2025). Monitoring devices are anticipated to dominate the market during the forecast period, owing to the rising prevalence of diabetes and an increase in the number of device users in the country. There has been a significant rise in insulin delivery systems technology, from insulin injections to insulin pumps. Technological innovations and advances give many conveniences in measuring blood glucose levels. One such advancement in monitoring the blood glucose levels has established with continuous glucose monitoring devices. Therefore, the number of diabetic patients is expected to increase in the future. There is also a concern that diabetes might affect the youth, due to the sedentary lifestyle. This factor is expected to boost the adoption of continuous glucose monitoring devices. This factor, in turn, is expected to drive the growth of the market.
Industry News And Updates on Diabetes Care Devices Market-
Insulin Pumps Occupy the Highest Share in the Management Devices Segment
The use of Insulin pumps is rising among developed countries. These are the devices that mimic the human pancreas, i.e., there would be continuous subcutaneous insulin administration in small amounts. Insulin pumps deliver rapid- or short-acting insulin 24 hours a day through a catheter placed under the skin. The insulin pump usage among Canadian patients increased due to the accurate dosage of administration and patients who are not able to meet the insulin requirements accurately. Thus, the CAGR growth is expected to be more than 4.83% during the forecast period for insulin pumps in the Canada diabetes care devices market. The technological advancements in the infusion set of the insulin pump, like concealing the needle of the infusion set and the pre-loaded, disposable, and single-use inserter that enables the patients to change infusion sets without carrying a separate inserter, are likely to drive the market.
Key Market Trends Diabetes Care Devices Market-
Test strips occupy the highest market share among the Monitoring devices for the year 2019
In Canada, the type-1 diabetes population is expected to witness a CAGR of 2.7%, by 2025. The users of glucometers will increase as type-1 diabetes patients will increase. It is estimated that in 2025 there will be 330 thousand people suffering from type-1 diabetes. Home use of test strip is also increasing because of initiatives of provincial governments across Canada. They have implemented the blood glucose test strip (BGTS) quantity limits to encourage proper testing practices for optimal patient outcomes. In Alberta, insulin-dependent patients are eligible for coverage of a USD 600 in a year, other regions also have reimbursement policies. Therefore, if a patient performs 5-6 tests in a day, the average expenditure on test strips would be more than USD 100/month. These expenses add to the already high diabetes management costs and are impeding the market growth. the growth in market volume and share of strips is expected to be higher than that of glucose meters, because of the difference in use-case frequency. Furthermore, the average life-span of glucose meter ranges between 6 months to 3 years.
Market Segmentation On Diabetes Care Devices-
Scope of the Report of Diabetes Care DevicesMarket Trend-
Increasing Demand for Diabetes Care Devices as well as new opportunities in Emerging Countries.
The Diabetes Care Devices is Considered a source to drive more growth resulting in high demand among consumers.
Finding that challenges assumptions for the consumers to opt or not for Diabetes Care Devices.
Increasing Demand in the Industry for Diabetes Care Devices by the Consumers is Providing an Opportunity for this market.
Region Included In Diabetes Care Devices Market are-
Middle East & Africa
Browse Detailed Research Insights with Table of Content-
Competitive Landscape On Diabetes Care Devices Market-
Key Players to Forge Alliances to Create Sustainable Solutions
In a bid to speed up the research & development and production of sustainable Diabetes Care Devices market solutions, major market players are building alliances with other industry leaders to widen the scope of their businesses. The focus of these collaborations is to formulate the growth that will make the Diabetes Care Devices industry more profound, which in turn will future-proof these companies’ offerings.
Qualitative Insights on Impact of COVID-19 on Global Diabetes Care Devices Market
Supply Chain Analysis & Challenges due to Covid-19
Steps taken by Government / Companies to Overcome this Impact
Potential Challenges and Opportunities due to COVID-19 Outbreak
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