Global Diabetes Management Devices Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Diabetes mellitus is a disease considered by chronic elevation of glucose in the blood. Diabetes management is termed as a short term events like low and high blood sugar to control over long term. The factors that are playing a major role in the growth of Diabetes Management Devices Industry is rising incidence of type I and type II diabetes, sedentary lifestyle, and development of innovative technology. On the other hand, high cost of devices may restrain the overall market.
Diabetes Management Devices Market is segmented based on device types, end users, and region. Device types such as Insulin Delivery Devices (Insulin Implants, Insulin Pumps, Insulin Syringes, and Insulin Pens), Blood Glucose Monitoring Devices (Continuous Glucose Monitors, Glucose Test Strips, Lancets), Diagnostic Devices (HbA1c Kits and Blood Ketone Meter), and others classify Diabetes Management Devices Industry.
Blood glucose monitoring devices accounts for the largest market share of Diabetes Management Devices Market and is estimated to lead the overall market in the years to come. The reason being, rising awareness among population regarding less invasive process, growing demand for CGM, and rising prevalence of diabetes. In addition, sub-segment insulin pens and insulin pumps are estimated to grow at fastest pace in the upcoming years.
End Users into Home Care Settings, Hospitals, Academic & Research Institutes, Ambulatory Surgery Centers, Diagnostic Centers, and others classify Diabetes Management Devices Industry. The market is segmented geographically into Americas (North America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa.
Globally, America accounts for the largest market share of Diabetes Management Devices Market and is estimated to lead the overall market in the years to come. The reason being, the presence of developed healthcare infrastructure, growing incidence of type 1 and type 2 diabetes, and developing enhanced technology. Europe and Asia Pacific follow suit. The United States is a major consumer of Diabetes Management Devices Industry in this region.
On the other hand, Asia Pacific is estimated to grow at fastest pace in the years to come. The developing countries like India and China are the major consumer of Diabetes Management Devices in this region. The reason being, growing population suffering from diabetes and rising awareness among population for treatment and diagnosis.
The key players of Diabetes Management Devices Market are Medtronic, Abbott, LifeScan, Dexcom, F. Hoffmann-La Roche, AgaMatrix, Prodigy Diabetes Care, Ascensia Diabetes Care, Nemaura Medical, Tandem Diabetes Care, WellDoc, and Insulet. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
This report studies the global Diabetes Management Devices market, analyzes and researches the Diabetes Management Devices development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
• F. Hoffmann-La Roche
• Ascensia Diabetes Care
• Beta Bionics
• Eli Lilly
Market segment by Regions/Countries, this report covers
• United States
• Southeast Asia
Market segment by Type, the product can be split into
• Blood glucose monitoring device
• Insulin delivery systems
Market segment by Application, Diabetes Management Devices can be split into
• Dialysis centers and home dialysis
Research Support Specialist, USA