Press release
Diabetes Management Devices Market Size to Record 8.4% CAGR Through 2028 | Key Players Bayer AG, Johnson & Johnson, Sanofi S.A., Abbott Laboratories
As per latest reports, global diabetes management devices market is poised to register a compound annual growth rate of approximately 8.4% through the forecast period, and eventually account for an appreciable valuation by the end of 2028.
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Report findings suggest that global diabetes management devices market growth can be attributed to increasing pervasiveness of diabetes among the younger as well as older population, obesity, technological advancements, and greater adoption of insulin delivery devices such as pens and pumps.
Notably, obesity is known to be a precursor to diabetes. According to a survey conducted by the World Health Organization in 2016, close to 1.9 billion adults were overweight, of whom around 650 million people were obese. Therefore, factors such as obesity, active smoking, and high cholesterol levels are likely to increase the probability of diabetes among the masses at an early stage, thus facilitating industry development.
Furthermore, amplified efforts on behalf of top manufacturers to introduce newer methodologies of insulin delivery are likely to favor worldwide diabetes management devices market expansion in the upcoming years.
Speaking of product type, the insulin delivery devices (jet injectors, pens, pumps, syringes) segment is expected to gain substantial traction in the coming years. More importantly, insulin pens have dominated overall market share since 2021, thus making it likely for this vertical to rise considerably during the review timeline.
In terms of distribution channel, the hospital pharmacies segment is anticipated to witness an appreciable growth rate through the forecast timeline.
Considering end-user scope, the hospitals segment is estimated to contribute a sizable share to overall market during the study period, due to higher footfall of patients suffering from diabetes in recent times.
Regionally, North America is a currently leading in terms of market share and is expected to retain its dominance in the forthcoming years, owing to a well-established healthcare infrastructure, rising pervasiveness of obesity, technological upgradations, and new product launches in the region.
Meanwhile, Asia Pacific industry is slated to grow profitably during the study period, ascribed to a rapidly evolving healthcare sector, higher spending capacity, and adoption of technologically-advanced products in countries such as India and China.
Considering the competitive framework, Ypsomed Holding AG, Bayer AG, Eli Lilly and Company, Rossmax International Ltd., Johnson & Johnson, B Braun Melsungen AG, Lifescan Inc., Sanofi S.A., Novo Nordisk A/S, Abbott Laboratories Inc., F.Hoffmann-La-Roche Ltd., Insulet Corporation, and Medtronic plc the key players influencing global diabetes management devices industry trends.
Questions and Answers: - Global Diabetes Management Devices Market
Question 1. What are the major factors driving global diabetes management devices market growth?
Answer 1. Increasing pervasiveness of diabetes among the younger as well as older population, obesity, technological advancements, and greater adoption of insulin delivery devices such as pens and pumps are major factors driving global diabetes management devices market growth.
Question 2. Why is North America a promising avenue for global diabetes management devices market growth?
Answer 2. A well-established healthcare infrastructure, rising pervasiveness of obesity, technological upgradations, and new product launches in the region, are the key factors making North America a promising avenue for global diabetes management devices market growth.
Question 3. Which are the key players influencing global diabetes management devices market trends?
Answer 3. Ypsomed Holding AG, Bayer AG, Eli Lilly and Company, Rossmax International Ltd., Johnson & Johnson, B Braun Melsungen AG, Lifescan Inc., Sanofi SA, Novo Nordisk A/S, Abbott Laboratories Inc., F.Hoffmann-La-Roche Ltd., Insulet Corporation, and Medtronic plc the key players influencing global diabetes management devices market trends.
For More Details on This Report @ https://www.marketstudyreport.com/reports/global-diabetes-management-devices-market-analysis-and-forecast-2019-2028
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