Wilmington, Delaware, United States, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – In 2021, the value of global diabetes devices market was clocked at US$ 50.5 Bn in 2021. An analysis of diabetes devices market projects the global market to expand at 6% CAGR during the forecast period, from 2022 to 2031. By 2031, the global diabetes devices market size is predicted to surpass value of US$ 90.2 Bn. Manufacturers have developed patient-friendly blood glucose monitoring devices in response to the rise in demand for less invasive medical technologies. The number of people with diabetes has increased, which has increased demand for diabetes treatment and lancing devices. Diabetes is quite common among the elderly population, which is likely to raise demand for diabetes tracker gadgets.
The size of the global market for diabetes devices has increased as a result of government initiatives to promote understanding about diabetic devices. The development of the healthcare system and economic expansion are also expected to boost demand for diabetic gadgets. Additionally, businesses are concentrating on lowering the price of diabetes tracker devices, which is expected to enhance demand for these gadgets.
Get Exclusive PDF Sample Copy of Diabetes Devices Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14
In 2021, a significant portion of the global market for diabetes devices held by North America. This is attributed to greater understanding, high prevalence of diabetes, and major spending on healthcare in the overall national budget. In addition, the early and easy availability of technologically advanced solutions, and a larger uptake of healthcare services nationwide are also anticipated to propel the market. In North America, the U.S. is a significant market for diabetes devices.
Key Findings of Market Report
- In 2021, the glucose monitoring devices category led the global diabetes devices market, based on product type and the pattern is anticipated to persist during the forecast timeframe. The category is primarily driven by the increasing supply of diabetes tracker devices featuring sophisticated sensors for the measurement of blood sugar levels. Furthermore, wireless technology is now a crucial component of continuous glucose monitoring (CGM), which transmits glucose measurements obtained from the fluid surrounding the patient's skin cells. Such innovative products are likely to emerge as important diabetes devices market trends in the forthcoming years.
- Hospital pharmacies are anticipated to be a very lucrative market segment over the projected timeframe depending on distribution channel. The segment is expected to account for considerable diabetes devices share. Increasing hospital visits are projected due to the high incidence of both type 1 and type 2 diabetes. Additionally, one of the main factors influencing the demand for diabetic devices in hospital pharmacies is the incidence of diabetes amongst hospitalized patients. The R&D expenditure is likely to increase, and there are excellent artificial pancreas systems in the pipeline, which is estimated to support the hospital pharmacies market.
- Due to an increase in the incidence of infectious illnesses, the market in Asia Pacific is expected to expand quickly throughout the forecast timeline. The regional market is being driven by expanding elderly populace, growth in healthcare spending, as well as a boost in patient knowledge of diabetic devices. In the coming years, nations like India and China are anticipated to dominate the market for diabetes devices in the region.
Ask for References – https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=14
Global Diabetes Devices Market: Key Players
Some of the key market players are
- Genomatica, Inc.
- The Bristol-Myers Squibb Company
- Twist Bioscience
- Precigen, Inc.
- Koninklijke DSM N.V.
- Ginkgo Bioworks
Global Diabetes Devices Market: Segmentation
Product Type
- Core Products
- Enabling Products
Technology
- Genome Engineering
- DNA Sequencing
- Bioinformatics
- Biological Components & Integrated Systems
- Nanotechnology
- Others
Application
- Healthcare
- Chemicals
- Agriculture
- Others
Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=14
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
