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Diabetes Care Devices Market Worth 26,710.3 Million Usd By 2022
Meticulous Research®, leading global market research company published a research report titled, “The Global Diabetes Care Devices Market is projected to $26,710.3 million by 2022 growing at a CAGR of 5.3% during the forecast period of 2017 to 2022.”
The significant growth in diabetes population is primarily attributed to the rising obesity rates across the globe, and increasing sedentary lifestyle with poor diets and lowered physical inactivity. According to the World Health Organization (WHO), in 2014, around 39% adults were overweight. Of these about 13% of the world’s adult population were obese; and almost half the world will be overweight or obese by 2030. With increasing levels of obesity and physical inactivity among children in many countries, type 2 diabetes in childhood has the potential to become a global public health issue, leading to serious health outcomes. The ignorance of the diabetes at early stage can lead to many severe complications, including increased risk of cardiovascular diseases and kidney disorders and thereby huge financial implications.
Thus, the rising diabetic population across the globe will propel the number of people who must be monitored with the periodic monitoring of their blood glucose, thereby leading to a growing demand for diabetes care devices.
Diabetes Care Devices Market by Monitoring Devices (Test Strips, Self-Monitoring Devices, CGM Devices, Lancets, Hemoglobin A1c Testing Kits) and Insulin Delivery Devices (Insulin Pens, Insulin Syringes, Insulin Pumps, Insulin Jet Injectors) – Global Opportunity Analysis and Industry Forecast To 2022.
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Global Diabetes Care Devices Market is driven by the increasing incidence & prevalence of diabetes, technological advancements, rising obesity rate, and increasing sedentary lifestyle & improper diet. Moreover, various developments of new technologies for the delivery of insulin further provide significant opportunities in this market. However, high cost associated with the diagnosis and treatment, reimbursement issues, and lack of awareness is expected to hinder the growth of diabetes care devices market to some extent.
Scope of the Report
Market by Type
Diabetes monitoring devices
– Test strips
– Self-monitoring devices
– Continuous blood glucose monitoring devices
– Hemoglobin A1c testing kits
Insulin delivery devices
– Insulin Pens
– Insulin Syringes
– Insulin Pumps
– Insulin Jet Injector
The insulin pens held the largest share of the global insulin delivery devices market in 2016, mainly due to their rising adoption with several advantages over the traditional syringe method of insulin delivery, including improved patient satisfaction and adherence, user-friendliness, superior accuracy for delivering small doses of insulin, greater social acceptability, and less reported injection pain.
The key players in the global diabetes care devices market are Novo Nordisk A/S, Ypsomed AG, Abbott Laboratories, Ascensia Diabetes Care Holdings AG, F. Hoffmann-La Roche AG, Johnson & Johnson, Medtronic, Becton, Dickinson and Company, Terumo Corporation, and Sanofi AS.
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