Press release
Diabetes Care Device Market 2022 Industry Future Growth, Key Player Analysis and Forecast 2028- ARKRAY Inc, Roche Diagnostic, Terumo Corporation
Diabetes Care Device Market report helps in making informed business decisions by having complete insights of market and by making a comprehensive analysis of market segments. This recent research compilation on the Diabetes Care Device Market is a versatile and future-ready analytical survey that replicates trend assessment, an in-depth assessment of market valuation and revenue-generating trends with information on profit models, Swot examination, competition spectrum, and associated vendor strategies illustrated by major players and market participants contributing by aggressively investing in the global Diabetes Care Device market to secure a competitive advantage amid staggering competition, potential threats from new entrants, as well as technological innovations leading to market substitutes.The Diabetes Care Device Market is expected to register a CAGR of 5.8% over the forecast period 2022 - 2028.
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Top Companies:
ARKRAY Inc, Roche Diagnostic, Terumo Corporation, Sanofi, Acon Laboratories, Inc, Dexcom, Medtronic plc, Dickinson and Company, Novo Nordisk A/S, Abbott Laboratories, Bayer HealthCare, Johnson and Johnson, Ypsomed AG, LifeScanInc
Industry News:
In September 2020, Medtronics has received United States Food and Drug Administration (FDA) approval of its MiniMed™ 770G hybrid closed loop system. This insulin pump system offers the company's most advanced SmartGuard™ technology, as featured in the MiniMed™ 670G system, with the added benefits of smartphone connectivity and an expanded age indication to children as young as 2.
In June 2020, Tandem Diabetes Care announced that they have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring (CGM) technology with Tandem's innovative insulin delivery systems to provide more options for people to manage their diabetes.
In July 2020, Medtronic Introduced MiniMed Mio Advance Infusion Set Enabling Fewer Insertion Steps for People with Diabetes in the United States. The MiniMed Mio Advance infusion set is the newest addition to the MiniMed portfolio of infusion sets and gives people using insulin pumps an optimal user experience with fewer steps.
By the product type, the market is primarily split into:
Self-Monitoring Blood Glucose Meter
Continuous Glucose Monitor
Testing Strip
Lancet
Insulin Pump
Insulin Pen
Insulin Syringe
By the end-users/application, this report covers the following segments:
Medical care
Personal care
Clinic
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North America Holds Highest Market Share
North America recorded more than USD 19 billion in revenue in 2020, which is expected to further increase with a highest CAGR during the forecast period. This is primarily due to the increasing diabetes population in North America, due to stress, unhealthy diets, and obesity. In North America, there are more than 29 million diabetes patients, and this number is expected to increase to 33 million by 2026. The United States alone recorded over 26 million diabetes patients in 2020. In North America, the United States holds a major share in the diabetes care devices market. Diabetes care devices market growth in this region is also supported by favorable government reimbursement policies and advanced healthcare infrastructure. Countries in Southeast Asia are expected to generate higher demand in the coming years, primarily due to the initiatives undertaken by the local government and health organizations to spread awareness about diabetes devices.
Geographical Analysis
The report provides geographical as well as country-level analysis of the Diabetes Care Device market demonstrating the dominance of companies in different regions and countries. Also, in this section, the report presents the market revenue of specific products in specific regions to get informed about the dominating region in the market. Some of the regions and countries mentioned in the report are, the US, Canada, Mexico, Brazil, in North America; China, India, Korea, Japan, Singapore in the Asia Pacific; Germany, UK, Italy, France in Europe, GCC countries, Qatar in the Middle East and Africa, Latin America, South America, etc.
Research Methodology
All the data presented in the report from valuation to revenue, drivers, growth areas of the Diabetes Care Device market, etc., is aided by thorough research from press releases, announcements by companies, news updates, reports from company websites, government verified websites, research publications, articles by researchers, etc. All this data is scanned thoroughly by analysts in the company and the summary and collaterals are presented in the report precisely. This research helps in offering well authenticated, verified, data with exact facts and figures. The report is then forwarded to in-house analysts, top-level experts, veterans, industry persons, third parties for feedback, verification, and editing, thus, providing the reader with well written, praised the report.
Key takeaways from the report
The report provides drivers, restraints, challenges, and growth points of the Diabetes Care Device market and how the market can be grown from 2022-to 2028.
The report helps in figuring out the impact of covid-19 on the Diabetes Care Device market and what measures can be taken for its development.
The Diabetes Care Device market players are assisted from the report for investing in the right product or application from the market.
The report also mentions applications, product offerings, types, key marketing trends of the Diabetes Care Device
The research includes historic data from 2016 to 2021 and forecasts until 2028 which makes the reports an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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