Pune, July 18, 2019 (GLOBE NEWSWIRE) -- The global Diabetes Devices Market is likely to gain traction from recent technological advancements. According to a report by Fortune Business Insights, titled “Diabetes Devices Market: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 32,441.3 Mn in 2018. Fortune Business Insights has predicted that the market is likely to reach US$ 49,588.2 Mn by the end of 2026, thereby exhibiting a CAGR of 5.5%.
The adoption of sedentary lifestyle has been the primary factor contributing to the high prevalence of diabetes around the world. The advent of technologically advanced systems has influenced the growth of the global Diabetes Devices Market. The demand for minimally invasive devices has been fulfilled in recent years. There are numerous products in the market that do not require blood sample or needle-based methods for detecting blood levels in sugar. Additionally, recent product innovations by globally renowned companies will boost the market in the forthcoming years.
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Emergence of Technologically-Sound Devices Will Enable Growth
The global Diabetes Devices Market will grow considerably in the coming years, driven by the technological advancements for diagnosis and treatment of diabetes. Conventionally, devices such as needle-pinch blood testing were used to test sugar levels. Although this method was painful, it was widely used due to the lack of painless-device counterparts. In recent times, technological advancements have led to the emergence of blood-testing devices based on infra-red (IR) rays. Therefore, advancements in diabetes car devices such as the minimally invasive devices have changed the game for blood glucose monitoring, thereby enabling growth of the global Diabetes Devices Market. The report includes technological advancements similar to the minimally invasive devices and gauges the impact of these devices on the global Diabetes Devices Market.
Soaring demand for Simplified Diabetes devices to Induce Growth
The growing adoption of fast paced and sedentary lifestyle has led to an increase demand for easily operate-able and simplified diabetes devices. Many companies are looking to suffice consumer needs of self-operate-able and portable devices for monitoring various factors that can cause diabetes. In 2019, Roche India launched the mySugr App and Accu-Chek aimed at betterment of people with diabetes. The company unveiled its first ever Integrated Diabetes Management System (IDMS) with the mySugr and Accu-chek integrated apps. With the launch of IDMS, the company aims at offering integrated and simplified approach for people with or at the risk of diabetes. The report includes the impact of such product advancements, along with some commercially successful products that have exerted their reach in several countries across the world. Fortune Business Insights has stressed on various aspects of the existing as well as upcoming devices for diabetes care and discusses the impact of these concepts on the global market.
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The report includes detailed analysis on various aspects of the market such as segmentation, end user coverage, applications and leading companies. Fortune Business Insights discusses segmentation of the global Diabetes Devices Market based on product type, application, and regional demographics. Additionally, the report includes detailed analysis of prevailing companies as well as market entrants operating in the global market.
Key companies covered in the report
- Hoffmann-La Roche Ltd
- Tandem Diabetes Care, Inc.
- Braun Melsungen AG
- PHC Holdings Corporation
- Medtronic
- BD
- Novo Nordisk A/S
- Abbott
- Sanofi
- Other players
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Table of Content:
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Diabetes, 2018, Key Countries/ Region
- Technological Advancements
- Pricing Analysis, Key Regions/Key Players
- Recent Industry Developments Such as Mergers & Acquisitions
- Global Diabetes Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast– By Product
- Monitoring Devices
- Blood Glucose Meters
- Test Strips
- Lancets
- Others
- Treatment Devices
- Insulin Pens
- Insulin Pumps
- Insulin Syringes
- Insulin Jet Injectors
- Others
- Blood Glucose Meters
- Market Analysis, Insights and Forecast– By Distribution Channel
- Institutional Sales
- Hospitals
- Clinics
- Others
- Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Institutional Sales
- Market Analysis, Insights and Forecast– By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Monitoring Devices
- Key Findings / Summary
- Competitive Analysis
- Strategic Recommendations
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