About Diabetes Therapeutics and Diagnostics
Diabetes, scientifically known as diabetes mellitus, is a clinical condition in which a person has high blood sugar levels. It occurs due to the inefficiency of the pancreas in producing insulin (Type I) or the insensitivity of the body's cells to the insulin it produces (Type II), or both. Type II diabetes is common around the world due to increased obesity, urbanization, poor diet, and poor health conditions. The primary therapeutic for type 1 diabetes and a key player in type 2 management, insulin helps cells absorb glucose from the bloodstream, lowering blood sugar. It's administered through injections, pumps, or inhalers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Diabetes Therapeutics and Diagnostics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Novartis Pharma AG (Switzerland), Owen Mumford Ltd. (United Kingdom), Palco Labs Inc. (United States), Novo Nordisk A/S (Denmark), Eli Lilly and Company (United States), Merck & Co. (United States), Abbott Laboratories (United States), Debiotech S.A. (Switzerland), Becton Dickinson (United States), Lifescan Inc. (United States), Johnson & Johnson (United States), GlaxoSmithKline (United Kingdom), Inlight Solutions Inc. (United States), Terumo Corp. (Japan), Medtronic (Ireland), Animas Corp. (United States), Roche Holding AG (Switzerland) and Nipro Corp. (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Takeda Pharmaceutical Co. Ltd. (Japan), Agamatrix Inc. (Germany), Sanofi (France) and Ascensia (United States).
Segmentation Overview
AMA Research has segmented the market of Global Diabetes Therapeutics and Diagnostics market by Type (Injectable [Insulin, Amylinomimetic] and Oral [Biguanides, Sulfonylureas, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Dipeptidyl Peptidase IV Inhibitors]), Application (Hospitals and Clinics) and Region.
On the basis of geography, the market of Diabetes Therapeutics and Diagnostics 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 Diabetes Type, the sub-segment i.e. Type1 will boost the Diabetes Therapeutics and Diagnostics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Test Type, the sub-segment i.e. Fasting Plasma Glucose Test will boost the Diabetes Therapeutics and Diagnostics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Robust Economic Growth, And Sweeping Healthcare Reforms and An Increasing Prevalence of Common Health Disorders, Which Can Disable Patients and Potentially Lead To Fatal Health Complications
Market Growth Drivers:
The Growing Prevalence of Diabetes, Growth in Sedentary Lifestyle of People, Growing Older Population, A Rise in Unhealthy Diet and Increasing Levels of Physical Inactivity and High Incidences of Diabetes
Challenges:
Lack of Awareness among Patients towards the Availability of Diabetic Medications
Restraints:
Side Effects of Diabetic Drugs and Stringent Approval Process
Opportunities:
The Development of Affordable & Effective Diabetes Therapeutics and Growth in Awareness among People about Self-Management of Diabetes and Support from the Government
Market Leaders and their expansionary development strategies
On December 12, 2023, Medtronic and Dexcom announced a strategic partnership to develop and commercialize a next-generation CGM system. This collaboration combines Medtronic's expertise in insulin pump technology with Dexcom's G6 CGM sensor, aiming to provide seamless data integration and improved diabetes management.
On November 15, 2023, Tandem Diabetes unveiled its latest t:slim X2 insulin pump, featuring the advanced Control-IQ technology. This AI-powered system automatically adjusts insulin delivery based on real-time blood sugar readings and predicted trends, aiming to improve glycemic control and reduce the burden of diabetes management.
Key Target Audience
Providers of Diabetes Therapeutics and Diagnostics, Potential Investors, Market Research Firms, Regulatory Bodies, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.