Medtronic and F. Hoffmann-La Roche Ltd – Notable Market Players in Diabetes Care Devices Market
The players in the diabetes care devices market are adopting various inorganic and organic developments for the individual growth and thus the growth of the market is highly dependent on them. The vital players in the diabetes care devices market focus on various growth strategies to enroot their presence and garner major market share across the globe. Some of the notable players in the global diabetes care devices market includes BD, Novo Nordisk A/S, B. Braun Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc., Eli Lilly and Company, Dexcom, Inc., Terumo Corporation, F. Hoffman-LA Roche Ltd. among others. The major market players within the recent years, have been observed to invest a substantial amount towards the development of new products. This implies a bright picture on the type of strategies majorly incorporated by the market players to sustain their positions as well as to generate increased growth revenue in the diabetes care devices market. The global leaders in the market have been majorly adopting product launches and product up-gradation as one of the key strategy to improve its product lines in order to build up a customer centric benefits to its end users and enhance its geographic diversification.
The global leaders for diabetes care devices market are expanding their activities across the world and are developing various innovative techniques to diagnose and treat diabetic conditions. For instance, Medtronic received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for its Personalized Closed Loop (PCL) insulin pump system. The PCL technology is designed to automate insulin delivery in a way that is real-time, personalized and adapts to the user. Thus, considering these developments the for the diabetes care industry the players operating for the diabetes care devices are likely to improve their performance and provide enormous benefits to their customers and end users.
Apart from the developments for the diabetes care devices market, the key market players are developing innovative products that assists in the diagnosis and monitoring of the diabetic conditions. For instance, the current Accu-Chek portfolio of F. Hoffmann-La Roche Ltd. offers people with diabetes and healthcare professional’s innovative products and impactful solutions for convenient, efficient and effective diabetes management. Similarly, the companies are performing inorganic growth market for instance, in February, 2017, Roche and Medtronic entered into an agreement to develop a next-gen BG meter that will intertwine Accu-Chek glucose monitoring technology into a future Medtronic pump system. This agreement is expected to enhance the growth of Medtronic in insulin pumps market. Therefore, the market is likely to experience rapid growth in the coming years.