Dublin, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The "Diabetes Care Devices Market by Type [Diabetes Monitoring (CGM, Test Strips, Self-Monitoring Blood Glucose Meters, Lancets, Haemoglobin A1C Testing Kits)], [Insulin Delivery (Syringes, Pens, Pumps, Jet Injectors)] - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Diabetes Care Devices Market is expected to grow at a CAGR of 6.7% from 2021 to reach $31.9 billion by 2028.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities.
The growth in the diabetes care devices market is mainly attributed to increased adoption of test strips and self-monitoring blood glucose meters and increasing demand for continuous glucose monitoring with rising awareness towards the disease in developing countries.
Based on type, the diabetes care devices market is segmented into diabetes monitoring devices and insulin delivery devices. In 2021, the diabetes monitoring devices segment is estimated to account for the largest share of the total diabetes care devices market.
The growth of diabetes monitoring devices is attributed to the factors such as increased adoption of test strips and self-monitoring blood glucose meters and increasing demand for continuous glucose monitoring with rising awareness towards the disease in developing countries.
Factors such as the increasing prevalence of diabetes with the rising need to self-monitor and treat the disease, increasing prevalence of major risk factors of diabetes such as obesity and sedentary lifestyle, increasing geriatric population, and growing government initiatives promoting diabetes care are driving the growth of the diabetes care devices market in North America.
However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period
An in-depth analysis of the geographical scenario of the diabetes care devices market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
In 2021, North America is estimated to account for the largest share of the global diabetes care devices market, followed by Europe and Asia-Pacific.
Market Insights
Drivers
- Increasing Prevalence of Diabetes
- Rising Obesity and Prevalence of Disease-Causing Lifestyle
- Product Innovations in Diabetes Care
- Development of Advanced Insulin Delivery Systems
Restraints
- Insurance Coverage and Reimbursement Scenarios
- Product Recalls
Opportunities
- Growing Demand for Non-Invasive Glucose Monitoring Devices
Challenges
- Undiagnosed Diabetes Among Population
- Cost of Diabetes Care Devices
- Limited Accessibility for Diabetes Care Devices in Low- and Middle-Income Countries
Regulatory Analysis
- North America
- Europe
- Asia-Pacific
Impact Assessment of Covid-19 Pandemic on Diabetes Care Devices Market
Diabetes Patients Population Analysis
- Global Diabetes Prevalence
- Diabetes Patient Analysis - U.S.
- Number of Patients - Type 1 Vs Type II (U.S.)
- Number of Patients Using Monitoring Devices (U.S.)
- Number of Patients on Insulin Delivery Devices (U.S.)
Next-Generation Technologies and Solutions for Diabetes Management
- Smart Insulin Pens
- Closed-Loop Systems
- Next Generation CGM Sensors
The key players operating in the global diabetes care devices market are
- Novo Nordisk A/S
- Ypsomed AG
- Abbott Laboratories
- Ascensia Diabetes Care Holdings AG
- F. Hoffmann-La Roche Ltd
- LifeScan IP Holdings LLC
- Medtronic PLC
- Becton Dickinson and Company
- Terumo Corporation
- Sanofi AS
- Tandem Diabetes Care Inc.
- Insulate Corporation and DexCom Inc. .
Scope of the Report:
Global Diabetes Care Devices Market, by Type
- Diabetes Monitoring Devices
- Insulin Delivery Devices
Global Diabetes Care Devices Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/qtksjy
