Diabetes Care Devices Market size, market analysis, Market Revenue, trends, Regional Outlook, competition and growth opportunities
Global Diabetes Care Devices Market
The GMI Research forecasts that the Diabetes Care Devices Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the mounting cases of diabetes owing to the accelerating geriatric population.
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Introduction of the Diabetes Care Devices Market
Diabetes care devices are used to monitor the glucose level in the diabetic patient's body and facilitate insulin delivery into the patient's body. There are mainly two types of diabetes care devices, including the blood glucose monitoring device and the insulin delivery device. The regular monitoring of diabetes improves outcomes and helps in adjusting treatment in real-time. These devices are often used in hospitals, clinics, and other surgical centers.
Key Players of the Global Diabetes Care Devices Market:
Diabetes Care Devices Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Several factors responsible for the growth of the global Diabetes Care Devices Market are increasing technological modernizations, accelerating disposable income of middle-class families, and the mounting urban population. In addition, the rising cases of diabetes and obesity led by the fuelling consumption of junk food and alcohol will further strengthen the Diabetes Care Devices market size. In accordance with the World Health Organization, the cases of diabetes touched 8.5% in 2014, especially in the middle to low-income economies. Approximately 1.6 million deaths in 2015 were directly related to diabetes, with half of the patients below the age of 70 years. The manufacturers are increasingly emphasizing technological enhancement in the product to deliver more accurate results. Thus, this continuous product innovation will bring enormous growth opportunities for the market. In addition, the intensified disbursement in the healthcare sector and the surging adoption of these devices for self-monitoring and tracking of diabetes are supplementing the market growth. However, the rising consciousness about the side effects of these devices will hamper the Diabetes Care Devices industry growth.
Product Type Segment Drivers
Based on the product type, blood glucose monitoring will dominate the market due to the transformation and technological advancements in these devices. The device offers a more accurate measurement of the glucose level and warns if the glucose level goes too low or too high. On the other hand, insulin delivery is contemplated to witness faster growth in the market over the forecast period. This is primarily due to adopting these devices across healthcare professionals and patients led by their remarkable advantages like higher stability and better properties.
End-User Segment Drivers
Based on the end-user, home care settings are expected to experience a robust demand in the next few years due to their user-friendly feature at an economical price range. The inclination of end-users to use these devices at home rather than going to clinics or healthcare centers for regular health check-ups with the increasing research and development activities to make the devices more convenient has propelled the Diabetes Care Devices market growth.
Regional Drivers
Based on the regional coverage, Asia Pacific is projected to lead the market owing to the aggravating allowances by government and private towards healthcare infrastructure and the substantial growth in population rate in the developing economies, including India, China, and Japan. In addition, the mounting consumer awareness regarding their benefits coupled with the development in technologies and the initiatives taken by the government to spread awareness will bolster the Diabetes Care Devices market share.
Diabetes Care Devices Market Segmentation: Segmentation by Product Type
Segmentation by End-User
Segmentation by Region:
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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