The “Diabetes Management Devices Market” report assesses the global and regional market based on device type, end user, distribution channel, and region. A comprehensive report provides a detailed market size with a historical and future trend analysis. The report underlines the market share analysis, product mix, competition overview, growth strategies, strategic imperatives, annual sales figures, products detail, regional presence of key players, technological developments, and competition assessment for the major companies involved in the diabetes management devices market.
Market Overview and Dynamics: Demand for diabetes management devices to rise during the forecast period due to rising incidences of diabetes among the population across the globe
The global diabetes management devices market is expected to grow at a CAGR of around 8.4% during the forecast period of 2022-2028. The rising prevalence of diabetes across the globe is the key factor for the increasing demand for diabetes management devices.
The global diabetes management devices market is set to observe robust growth in the next six years. The sedentary lifestyle along with increasing urbanization are some of the factors escalating the prevalence of diabetes which in turn push the growth of the diabetes management devices market forward.
- Moreover, increasing obesity owing to the consumption of junk food and alcohol is further expected to propel the demand for diabetes management devices across the globe.
- North America is the potential market for diabetes management devices owing to the increasing incidences of diabetes among the population. As per the National Diabetes Statistics Report, the US has 37.3 million diabetic patients out of which 28.7 million people are diagnosed and the rest 8.5 million are undiagnosed in 2021.
- Asia Pacific is projected to witness significant growth, owing to growing awareness and increasing awareness expenditure on healthcare.
- Based on Device Type, Insulin devices are expected to grow considerably owing to rising the adoption of an unhealthy lifestyle, geriatric population, and higher susceptibility to type 2 diabetes.
- On the basis of distribution channels, hospitals are anticipated to dominate the global diabetes management devices market due to the high footfall and availability of products.
- Based on region, North America is dominating the global diabetes management devices market due to the rising prevalence of obesity in the region, and the presence of key players in the region.
The global diabetes management devices market observes intense competition as a result of a presence of a large number of established players. Furthermore, start-ups and established players are focusing on technological developments which further propel the demand for diabetes management devices globally. Product innovations, launches, and partnerships are the identified industry trend in the global diabetes management diabetes market.
- In May 2021, Eli Lily and Company collaborated with DexCom, Inc., Glooko Inc., myDiabby Healthcare, and Roche with a goal to integrate data and technology to help streamline diabetes management.
- In November 2020, a Denmark-based bio-medical device manufacturer Novo Nordisk A/S acquired the 100% share of Emisphere Technologies.
Some of the prominent players operating in the global diabetes management devices market include Medtronic plc, F.Hoffmann-La-Roche Ltd., Abbott Laboratories Inc., Johnson & Johnson, Novo Nordisk A/S, Bayer AG, Insulet Corp., Sanofi SA, Lifescan Inc., B Braun Melsungen AG, Rossmax International Ltd., Eli Lilly and Company, and Ypsomed Holdings among others.
RationalStat has segmented the global diabetes management devices market on the basis of device type, end user, distribution channel, and region.
- By Device Type
- Blood Glucose Monitoring Device
- Self-Monitoring Devices
- Continuous Glucose Monitoring Device
- Insulin Delivery Device
- Insulin Pens
- Insulin Pumps
- Insulin Syringes
- Others (Jet Injectors)
- Blood Glucose Monitoring Device
- By End User
- Diagnostics Centre
- By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Diabetes Centers/Clinics
- E-commerce Websites
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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