07 June 2020
Visiongain has launched a new pharma report Diabetes Devices Market Report 2020-2030: Forecasts by Product (BGM Devices (Self-Monitoring Devices, Continuous Glucose Monitoring Devices), Insulin Delivery Devices (Jet Injectors, Pumps, Pens, Syringes)), Distribution Channel (Diabetes Clinics/Centers, Hospital pharmacies, Online Pharmacies, Retail Pharmacies, Others), End User (Diagnostic Centers, Hospitals, Homecare), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global diabetes devices market is anticipated to grow at a lucrative CAGR of xyz% and anticipated to reach USD xyz billion by 2020. Visiongain anticipates that the market will grow on account of the rising prevalence of the disease, technological advancements, & growing preference for automated disease management solutions among other contributing factors.
Over the past few years, there have been significant investments, and increased awareness of effective diabetes management, penetration of these devices in developing and under-developed economies across the globe. However, high costs of diabetes management & monitoring devices, compliance issues, safety concerns, & reimbursement issues are anticipated to impede market growth over the forecast period.
Furthermore, the growing incidence rate of diabetes due to rapid modernization & sedentary lifestyle is the major factor in boosting the market growth. There has been a rise in the number of diabetic patients due to an increase in the obese population & consumption of junk foods. These factors are projected to further augur the global diabetes market growth from 2020 to 2030. Also, it is anticipated that the growing awareness of diabetes monitoring devices among diabetic patients and untapped economies are offering numerous growth opportunities for the major players.
The growing support from private and government agencies, along with increasing numbers of diabetes prevention and treatment solutions, is intended to provide market players with a range of opportunities, thereby leading to business expansion.
North America dominated the global diabetes devices market owing to the presence of well-established healthcare infrastructure coupled with the growing diabetic patient pool. Also, the market will continue to be driven by the existence of the target population and increased R&D investment by important business organizations. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to the growing presence of diabetic patients across markets such as India and China. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the diabetes devices market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global digital diabetes devices market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the diabetes devices market.
For instance, in February 2019; LifeScan Inc. announced the result of OneTouch Select Plus, a blood glucose monitoring system that showed that long term clinical accuracy of the OneTouch Select Plus blood glucose test strip platform and highlights the products consistently accurate performance.
The comprehensive market report features companies such as Abbott Laboratories, Acon Laboratories, Inc., Arkray, Inc., B Braun Melsungen AG, Bayer AG, Becton, Dickinson and Company, Dexcom, Inc., F Hoffmann-La Roche Ag, Insulet Corporation, Johnson & Johnson, LifeScan, Inc, Medtronic PLC, Novo Nordisk A/S, Roche Diagnostics Limited, Sanofi, Tandem Diabetes Care, Inc., Terumo Corporation, Valeritas Holdings Inc., Ypsomed AG among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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