Global Diabetes Devices Market Size & Share, Sector / Industry Report & Analysis, 2024 (Includes Business Impact of COVID-19)

  • TBI791144
  • August 01, 2019
  • Global
  • 132 pages
  • HCCResearch
                                          

Abstract, Snapshot, Market Analysis & Market Definition: Global Diabetes Devices Market

The global diabetes devices market size was valued at USD 20.7 billion in 2016 and is expected to develop at a CAGR of 7.0% over the forecast period. Demand for diabetes devices is increasing due to growth in target population base. Growing cases of diabetes caused due to obesity, unhealthy lifestyles and eating habits, age, and other factors are leading factors driving market growth. Obesity is believed to be one of the foremost factors leading to the development of diabetes in individuals.  According to WHO, in 2014, over 1.9 billion people were identified to be overweight, of which, around 600 million people were obese. Diabetes devices are used for blood diagnostics and monitoring as well as for delivering insulin. Major companies in the market are focusing on development of minimally invasive and user-friendly devices to fulfill growing demand. Rising prevalence of diabetes owing to sedentary lifestyle is a key factor for market growth. On the other hand, stringent regulatory guidelines are limiting the scope of the market. In addition, development of non-invasive insulin delivery methods, such as oral administration and inhalation, are a potential threat to the delivery device segment. Nevertheless, increasing funding from private and government agencies, along with rising number of research and development activities for diabetes control and treatment solutions is slated to offer a host of opportunities for market players, thereby contributing toward market expansion.

Market Segmentation, Outlook & Viewpoint: Global Diabetes Devices Market

Product Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2024) Monitoring and Diagnostic Devices Lancets Analog Glucose Monitor Continuous Glucose Monitor Test Strips Insulin Delivery Devices Syringe Pens Pumps Injectors

Key Players, Recent Developments & Regional Insights: Global Diabetes Devices Market

Based on product, the market is segmented into monitoring and diagnostic devices and insulin delivery devices. Monitoring and diagnostic devices are sub-segmented into analog glucose meter, continuous glucose monitoring, lancets, and test strips. Insulin delivery devices are further segmented into syringes, pens, pumps, and injectors. Test strips captured the largest share in the monitoring and diagnostics device segment in 2015, while insulin pens accounted for the dominant share among insulin delivery devices. Rapid adoption of these user-friendly, quick, and accurate devices by patients for homecare use is estimated to boost market demand during the forecast period. Increasing awareness regarding diabetes, along with availability of a wide range of devices with quick and accurate results, is anticipated to fuel the segments at a lucrative rate during the forecast period. Insulin pens formed the largest segment in terms of revenue. Increasing usage by diabetes patients, technological advancements, and ability of these devices to deliver accurate dosage are factors contributing toward segment growth. Rising focus of manufacturers on promoting product innovation and advancement is another major factor driving the segment. Factors such as high adoption rate, user-friendly product design, and soaring popularity amongst consumers also contributed toward segment expansion.

Regional Insights

North America is the most developed market, followed by Europe. Advanced healthcare infrastructure and availability of technologically advanced products are key factors responsible for this market. U.S., in particular, is the largest market for diabetes devices across the world on account of wide adoption of these devices in the country. Asia Pacific is estimated to exhibit the highest growth rate over the next few years. This growth is attributed to availability of several untapped opportunities, along with rising geriatric population base in this region. The adoption rate of insulin devices is high in several Asian countries, such as India and China. Factors such as growing awareness regarding diabetes care and developing healthcare landscape are leading factors responsible for a higher adoption rate of these devices. Additionally, growing healthcare spending in these economies has resulted in a rise in adoption of technologically advanced products, thereby boosting regional market growth. Diabetes Devices Market Share Insights Some of the key players in the market are Medtronic PLC, Sanofi S.A., Bayer Healthcare AG, Becton, Dickinson and Company, Novo Nordisk A/S, Abbott Laboratories, F. Hoffman-La Roche AG, and Johnson & Johnson. Most of these key players have adopted various strategies such as new product launch, collaborations, and mergers and acquisitions to strengthen their industry position. For instance, in August 2016, Medtronic PLC announced the launch of MiniMed 630G system combined with SmartGuard technology in the U.S. market. This insulin pump has received approval for treatment of adults suffering from diabetes mellitus.

Key Insights Covered: Global Diabetes Devices Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Diabetes Devices industry. 2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Diabetes Devices industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Diabetes Devices industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Diabetes Devices industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Diabetes Devices industry.

Research Methodology: Global Diabetes Devices Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other

Table of Contents
Chapter 1 Research Methodology
1.1 Information procurement
1.2 Data Analysis
1.3 Approaches for market estimation
     1.3.1 Approach 1: Demand Analysis & Bottom up Approach
     1.3.2 Approach 2: Top down market estimation
     1.3.3 Approach 3: Commodity flow and bottom up market estimation
     1.3.4 Approach 4: KoL perspective based market sizingChapter 2 Executive Summary
2.1 Market SnapshotChapter 3 Industry Outlook
3.1 Market segmentation & scope
3.2 Market Driver Analysis
3.3 Market Restraint Analysis
3.4 Penetration & growth prospect mapping
3.5 Diabetes Devices - SW
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