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Diabetes Care Devices Market Report, 2022-2027 | Industry Growth, Share, Size And Trends Analysis
Industry Definition and Application:
Diabetes care devices are the equipment used to determine or monitor blood sugar levels. Commonly utilized instruments include glucometers, smart insulin pens, and continuous glucose monitors (CGMs), which consist of lancets, sensors, monitors, docking stations, and test plugs that constantly assist in monitoring diabetic conditions. Diabetes care devices are extensively used to analyze and observe diabetes mellitus, a chronic disease that affects the quantity of glucose absorption in the blood. These appliances also aid in accurately identifying and determining the effectiveness of treatment and lowering the instances of hyperglycemia and hypoglycemia. As a result, diabetes care devices find widespread applications in hospitals, home care, diagnostic centers, clinics, etc.
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What are the major drivers for the diabetes care devices market?
The escalating product demand to treat and manage symptoms and complications, such as kidney and liver failure, respiratory issues, and cardiovascular conditions, is among the primary factors driving the diabetes care devices market. Besides this, the rising need for glucose monitoring and insulin delivery machines for better care and management of diseases is further augmenting the market growth.
Moreover, the introduction of intelligent diabetes care devices integrated with artificial intelligence (AI), machine learning (ML), and the internet of things (IoT) to facilitate remote monitoring of the patients is also catalyzing the global market. Apart from this, the growing popularity of self-monitoring of blood glucose (SMBG) which assist in the appropriate scheduling of food, activity, and medication, is expected to bolster the diabetes care devices market in the coming years.
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Report Segmentation:
The report has segmented the market on the basis of region, type, distribution channel and end user.
Breakup by Type:
• Blood Glucose Monitoring (BGM) Devices
o Self-Monitoring Devices
o Continuous Glucose Monitoring Devices
• Insulin Delivery Devices
o Pumps
o Pens
o Syringes
o Jet Injectors
Breakup by Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Diabetes Clinics/Centers
• Online Pharmacies
• Others
Breakup by End User:
• Hospitals
• Homecare
• Diagnostic Centers
• Ambulatory Surgery Centers
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
List of Major Key Players:
• Abbott Laboratories
• Becton Dickinson and Company
• Bionime Corporation
• Dexcom Inc.
• F. Hoffmann-La Roche AG
• ACON Laboratories Inc.
• Ascensia Diabetes Care Holdings AG (PHC Holdings Corporation)
• Johnson & Johnson
• Medtronic plc
• Novo Nordisk A/S
• Sinocare Inc.
• Terumo Corporation.
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