The Global Diabetes Care Devices market is expected to reach US$ 39,382.3 Mn in 2027 from US$ 23,354.3 Mn in 2018 is estimated to grow with a CAGR of 6.1% from 2019-2027
Published Date : 19/04/2019

Report : Diabetes Care Devices Market to 2027- Global Analysis and Forecasts by Product (Glucose Monitoring Devices and Insulin Delivery Devices); End User (Homecare and Hospitals & Clinics) and Geography

Growing geriatric population is leading the growth of diabetes care devices market over the forecast period.

 

According to a new market research study titled "Diabetes Care Devices Market - Global Analysis and Forecasts by Product and End User", the global diabetes care devices market is expected to reach US$ 39,382.3 Mn in 2027 from US$ 23,354.3 Mn in 2018. The market is estimated to grow with a CAGR of 6.1% from 2019-2027. The report highlights the trends prevalent in the global diabetes care devices market and the factors driving the market along with those that act as deterrents to its growth.

 

The diabetes care devices market by product is segmented into glucose monitoring devices and insulin delivery devices. In 2018, the glucose monitoring devices segment held a largest market share of 54.1% of the diabetes care devices market, by product. This segment is also expected to dominate the market in 2027 owing to rise in the prevalence of the diabetes and presence of the several market players that offers technically advanced products. Moreover, the glucose monitoring devices segment is also anticipated to witness the fastest growth rate of 6.4% during the forecast period, 2019 to 2027 owing to the rising demand for the glucose monitoring devices.

 

Key factors driving the market are, rising incidence of diabetes, growing geriatric population, increasing prevalence of obesity across the globe, and rapid technological advancement in diabetes care devices. However, the restraining factors for the market are high cost of diabetes care devices and risks associated with the insulin delivery devices.

 

Some of the prominent players operating in diabetes care devices market are, 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. The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in February 2019, Tandem Diabetes Care, Inc. announced that the U.S. Food and Drug Administration (FDA) has classified the t:slim X2 insulin pump as the first in a new device category called Alternate Controller Enabled Infusion Pumps (ACE pumps).

 

The report segments the global diabetes care devices Market as follows:

Global Diabetes Care Devices Market – By Product

  • Glucose Monitoring Devices
    • Glucometers
    • Lancets
    • Testing Strips
    • Other Glucose Monitoring Devices
  • Insulin Delivery Devices
    • Insulin Pens
    • Insulin Syringes
    • Insulin Pumps
    • Other Insulin Delivery Devices

Global Diabetes Care Devices Market – By End User

  • Hospitals & Clinics
  • Homecare

Global Diabetes Care Devices Market – By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific (APAC)
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Middle East & Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
  • South & Central America (SCAM)
    • Brazil
    • Argentina

 

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