About Diabetes Care Device
The diabetes is caused due to an increase in blood sugar level for a long period. This is due to either pancreas not producing enough insulin or cells of the body not responding to the insulin produced. The main goal of diabetes care devices is to minimize the risk of diabetes and to provide continuous monitoring of sugar level. Increasing obese population and government initiatives for providing diabetes cure treatment are the key drivers for the market. Additionally, rising demand for fast, safe and better diabetes care products have been supplementing the growth of the market. However, lack of awareness of diabetes care devices, rising health awareness across the globe and adverse effects associated with diabetes care devices are directly hampering the overall growth of the market. Moreover, rising international research collaboration for diabetes care products and increasing investment in research and development activities lead to new innovation may create a big opportunity for the market in the coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
The Players having a strong hold in the market are Roche Holding AG, Medtronic plc, Johnson & Johnson, Abbott Laboratories, Ascensia Diabetes. Analyst at AMA Research estimates that United States, European and Asian Players will contribute the maximum growth to Global Diabetes Care Device 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.
Roche Holding AG (Switzerland), Medtronic plc (United States), Johnson & Johnson (United States), Abbott Laboratories (United States), Ascensia Diabetes Care Holdings AG (United States), Becton Dickinson (United States), Dexcom (United States), ARKRAY Healthcare Pvt. Ltd. (India), B. Braun Melsungen (Germany) and Terumo Corporation (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 Ypsomed Holding (Switzerland), Sannuo Biological Sensing Co Ltd (China0, I Sens Inc (South Korea) and Alere Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Diabetes Care Device market by Type (SMBG, CGMS, Lancet, Insulin Pumps and Insulin Pens) and Region.
On the basis of geography, the market of Diabetes Care Device 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 Blood Glucose Monitoring Device, the sub-segment i.e. Testing Strips will boost the Diabetes Care Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Insulin Delivery Device, the sub-segment i.e. Insulin Syringes will boost the Diabetes Care Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Diabetes Care Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Population Suffering from Diabetes due to Sedentary Lifestyle
Market Growth Drivers:
Increasing Government Initiatives for Providing Diabetes Cure Treatment, Rising Demand for Fast, Safe and Better Diabetes Care Products and Increasing Obese Population
Challenges:
Adverse effects associated with Diabetes Care Devices
Restraints:
Lack of Awareness of Diabetes Care Devices and Rising Heath Awareness across the Globe
Opportunities:
Rising International Research Collaboration for Diabetes Care Products and Increasing Investment in Research and Development Activities lead to New Innovation
Market Leaders and their expansionary development strategies
In August 2017, pharmaceutical Novo Nordisk had acquired Bristol University spin-out Ziylo in approximately USD 796 million. This acquisition helps the company to develop smart insulin.
In August 2016, Roche Holding AG had launched Accu-Chek Guide blood glucose monitoring system named as Accu-Chek. The new product is design to offers monitoring of glucose on a daily basis along with features such as the spill-resistant SmartPack test strip vial that is used to remove just one strip at a time.
Key Target Audience
Diabetes Care Device Manufacturers, Raw Material Suppliers, Distributors and Suppliers, Government Association, Diabetes Research Organization, Investors 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.