Recent News Stories Shows How The South Korea Diabetes Care Device Market Products Are Surviving In The Global Industry To 2028?

The South Korea Diabetes Care Device Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global South Korea Diabetes Care Device market. This report explores all the key factors affecting the growth of the global South Korea Diabetes Care Device market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Overview

The South Korea Diabetes Care Device Market size stood at around USD xx billion in 2019 and is projected to reach xx billion by 2028, exhibiting a CAGR of more than 6.8% during the forecast period.

Diabetes is a metabolic disorder; it is a chronic condition which is associated with abnormally high levels of glucose in blood. Diabetes is one of the leading causes of several life-threatening diseases, such as heart disease, stroke, kidney disease and others. Major cause of morbidity and mortality in Korea is due to diabetes and its complications.

According to Diabetes Fact Sheet In Korea 2020released by Korean Diabetes Association, prevalence of diabetes among adults 30 years or older was 13.8% in 2018. About 3 out of 10 adults of age 65 and above in Korea have diabetes. The prevalence of diabetes in 2018 was 12.4% based on fasting plasma glucose.

Market Drivers

The rising incidences rate of diabetes due to the rapid urbanization and sedentary lifestyle are major factors contributing in growing demand of the market. Other factors responsible for growth of diabetes in Korea are age, obesity, smoking, decreased physical activity, and stress. With increasing obesity, especially in childhood, and improved longevity, the prevalence of diabetes is expected to dramatically increase more than estimated previously.

Technological advancements in the blood glucose monitoring devices and insulin delivery devices for safer and accurate use, as well as growth in the awareness related to diabetes treatment has further lifted the growth of market.

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Market Segmentation

By Product Type:

As per product type the market is segmented as blood glucose monitoring devices (self-monitoring blood glucose meters, continuous glucose monitors, testing strips, lancets) and Insulin Delivery Devices (insulin pumps, pen, pen needles, syringes)

Insulin delivery devices are witnessing various technological advancements for better and efficient delivery of insulin. Moreover, the demand for insulin pens among other insulin delivery devices is predicted to grow at a rapid pace owing to easy application, greater accuracy, and high convenience.

By End User:

According to type of end user the market is segmented as hospitals, home care and others. Growing chronic disease prevalence, especially diabetes, will increase the demand for diabetes care devices in hospitals.

There is an increase in adoption of blood sugar monitoring and insulin delivery devices in home care settings. Self-monitoring of blood sugar and control of blood glucose at home facilitates enhanced care and maintenance of diabetes with greater affordability.

Top Players

Various manufacturers are coming up with innovative products to sustain in the highly fragmented diabetes care devices market. Moreover, the easy regulatory approvals in the Asian countries has led to mid-sized companies enter the market and compete with the local and established players. Some of the major players are Abbott, Apex Biotechnology Corp., Arkray, Inc., B Braun Melsungen Ag, Becton Dickinson and Company, I-Sens, Inc., Johnson & Johnson, Osang Healthcare, Roche Diagnostic.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global South Korea Diabetes Care Device Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global South Korea Diabetes Care Device Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the South Korea Diabetes Care Device market
Chapter 2: Exclusive Summary - the basic information of the South Korea Diabetes Care Device Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the South Korea Diabetes Care Device
Chapter 4: Presenting the South Korea Diabetes Care Device Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the South Korea Diabetes Care Device market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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In conclusion, the South Korea Diabetes Care Device Market report is a genuine source for accessing the research data which is projected to exponentially grow your business. The report provides information such as economic scenarios, benefits, limits, trends, market growth rates, and figures. SWOT analysis and PESTLE analysis is also incorporated in the report.

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