Global Diabetic Care Device Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz, in its upcoming report titled, “Global Diabetic Care Device Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”, offers in-depth insights, revenue details, and other vital information regarding the diabetic care device market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global diabetic care device market, and their financials, apart from strategies, acquisitions & mergers, and market footprint.

Diabetes is a chronic disease, that occurs when the pancreas does not produce sufficient insulin or when the body does not use insulin efficiently. Failure in regulation of blood glucose level result in low or high blood glucose levels. The number of people with diabetes is expected to double within the next 25 years due to a combination of population ageing, unhealthy diets, obesity and sedentary lifestyles. Diabetes has a large economic burden on society, therefore effective management of diabetic have become the need of hour. Diabetes device are the medical device used for monitoring and managing blood glucose level in patients suffering from diabetic disease.

Rising incidence of diabetes in world is the key driver of growth of diabetes care device. In addition, rise in customer adoption of device for monitoring glucose level, the requirement of individual for round-the-clock self-monitoring, innovation and new technologies such as software and sensor are constantly upgrading to provide ease for user are the factors boosting the global diabetic care market.

Excessive cost of diabetes care devices, irregular reimbursement, effective alternative treatments may hinder the growth of the diabetic care device market globally.

Constant technological advancement such as software and sensor upgradation, development of tube free insulin pump, innovation in glucometer device such as wireless glucose monitoring device that can send data to smartphone are the current trends witnessed in the global diabetic care device market.

The global diabetes care device market is segmented on the basis of product type, end user verticals and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to World Bank 2017, the average diabetes prevalence around the world was 8.5. Increasing prevalence rate of diabetes are witnessed in developed region such as U.S. which accounted for 10.8, U.K. accounted for 4.3 and Canada accounted for 7.4. whereas developing region also witnessed the growing prevalence of diabetes such as India accounted for 10.4, China accounted for 9.7. According to National Center for Chronic Disease Prevention and Health Promotion report, nearly 30.3 million people are suffering from diabetes out of which 23.1 million people are diagnosed and 7.2 million are undiagnosed. North America market dominates the global diabetic care device market owing to reason of increasing incidence of diabetes. The market in Asia Pacific region is the fastest growing region due to increasing the prevalence of diabetes for global diabetic care market.

Global Diabetic Care Device Market Segmentation:

Segmentation on the basis of product type:

• Blood glucose monitoring device
• Testing strip
• Lancets
• HbA1c testing kits
• Self-monitoring blood glucose meters
• Continuous glucose monitors
• Insulin delivery device
• Insulin syringes
• Insulin pens
• Insulin pumps
• Insulin jet injectors

Segmentation on the basis of end user verticals:

• Point of Care
• Home Diagnostics
• Research Labs
• Hospital
• Clinics

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa