Scope of the Study
The diabetes is caused due to an increase in blood sugar level for a long period. This is due to either pancreas not producing enough insulin or cells of the body not responding to the insulin produced. The main goal of diabetes care devices is to minimize the risk of diabetes and to provide continuous monitoring of sugar level. Increasing obese population and government initiatives for providing diabetes cure treatment are the key drivers for the market. Additionally, rising demand for fast, safe and better diabetes care products have been supplementing the growth of the market. However, lack of awareness of diabetes care devices, rising health awareness across the globe and adverse effects associated with diabetes care devices are directly hampering the overall growth of the market. Moreover, rising international research collaboration for diabetes care products and increasing investment in research and development activities lead to new innovation may create a big opportunity for the market in the coming years.
The market study is being classified and major geographies with country level break-up. and may see market size of USD49.81 Billion by 2024.
Roche Holding AG (Switzerland), Medtronic plc (United States), Johnson & Johnson (United States), Abbott Laboratories (United States), Ascensia Diabetes Care Holdings AG (United States), Becton Dickinson (United States), Dexcom (United States), ARKRAY Healthcare Pvt. Ltd. (India), B. Braun Melsungen (Germany) and Terumo Corporation (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Ypsomed Holding (Switzerland), Sannuo Biological Sensing Co Ltd (China0, I Sens Inc (South Korea) and Alere Inc. (United States).
The Players having a strong hold in the market are Roche Holding AG, Medtronic plc, Johnson & Johnson, Abbott Laboratories, Ascensia Diabetes. Research Analyst at AMA predicts that United States, European and Asian Players will contribute to the maximum growth of Global Diabetes Care Device market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Diabetes Care Device market by Type, Application and Region.
On the basis of geography, the market of Diabetes Care Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Blood Glucose Monitoring Device, the sub-segment i.e. Testing Strips will boost the Diabetes Care Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Insulin Delivery Device, the sub-segment i.e. Insulin Syringes will boost the Diabetes Care Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Diabetes Care Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Government Initiatives for Providing Diabetes Cure Treatment
- Rising Demand for Fast, Safe and Better Diabetes Care Products
- Increasing Obese Population
- Increasing Population Suffering from Diabetes due to Sedentary Lifestyle
- Lack of Awareness of Diabetes Care Devices
- Rising Heath Awareness across the Globe
- Rising International Research Collaboration for Diabetes Care Products
- Increasing Investment in Research and Development Activities lead to New Innovation
- Adverse effects associated with Diabetes Care Devices
Market Leaders and their expansionary development strategies
In August 2017, pharmaceutical Novo Nordisk had acquired Bristol University spin-out Ziylo in approximately USD 796 million. This acquisition helps the company to develop smart insulin.
In August 2016, Roche Holding AG had launched Accu-Chek Guide blood glucose monitoring system named as Accu-Chek. The new product is design to offers monitoring of glucose on a daily basis along with features such as the spill-resistant SmartPack test strip vial that is used to remove just one strip at a time.
Key Target AudienceDiabetes Care Device Manufacturers, Raw Material Suppliers, Distributors and Suppliers, Government Association, Diabetes Research Organization, Investors and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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