Press release
Diabetes Care Devices Market Size to Reach USD 56.57 Billion by Forecast 2030
Diabetes Care Devices Market
Several top manufacturers are focusing on many technological innovations and developing advanced products to gain extensive market share. As per the records of IDF, around 21,600 children are added to the type 1 diabetic population every year. As per these figures, diabetes accounts for around 9% of total healthcare expenditure globally. Numerous government initiatives, such as the National Service Framework (NSF) programme in the U.K., are improving services by setting national standards to increase the service quality and address variations in care. The various risk factors such as overweight, smoking, obesity, and high cholesterol levels are anticipated to boost the incidence of diabetes, thus fuelling the utmost need for diabetes devices.
Data Bridge Market Research analyses that the diabetes care devices market which is USD 29.02 billion in 2022, is expected to reach USD 56.57 billion by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Opportunities
Government initiatives and Increased awareness campaigns
Numerous government initiatives and awareness campaigns are also pushing the market growth. For instance, the UK DESMOND education programme is a structured patient education and management programme for patients suffering from newly diagnosed type 2 diabetes. Its aim is to help people identify early health risks. There has also been a rise in government funding for healthcare. As per the International Diabetes Federation Diabetes-related healthcare spending is rapidly growing. Furthermore, Bigfoot collaborated with Abbott and received clearance from the U.S. FDA in 2021 for the Bigfoot Unity Diabetes Management system. This first-of-its-kind system2 holds smartpen caps for disposable insulin pens - injection devices that people with diabetes use to inject insulin - that integrate with Abbott's world-leading FreeStyle Libre 2 technology. Diabetes device demand is projected to be boosted by many supportive initiatives and increasing awareness during the forecast period.
Segmentation:
The diabetes care devices market is segmented on the basis of product type, device type, delivery type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
Blood Glucose Monitoring Devices
Testing Strips
Blood Glucose Meters
Self-monitoring Blood Glucose Meters
Continuous Blood Glucose Monitoring Devices
Lancets
Others
Insulin Delivery Devices
Device Type
Self-monitoring
Diagnostic
Delivery Type
Pumps
Pen
Syringes
Injectors
Cartridges in Reusable pens
Disposable Pens
Jet Injectors
Distribution Channel
Institutional Sales
Hospitals
Clinics
Others
Retail Sales
Hospital pharmacies
Retail pharmacies
Online pharmacies
Key Market Players:
Abbott (U.S.)
PHC Holdings Corporation (Japan)
WellDoc, Inc (India)
Sanofi (France)
Dexcom, Inc (U.S.)
DarioHealth Corp. (U.S.)
Medtronic (Ireland)
Braun SE (Germany)
Hoffmann-La Roche Ltd (Switzerland)
Insulet Corporation (U.S.)
Ascensia Diabetes Care Holdings AG (Switzerland)
Tidepool (U.S.)
Medtronic (Ireland)
Tandem Diabetes Care (U.S.)
Browse More Info @ https://www.databridgemarketresearch.com/reports/global-diabetes-care-devices-market
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