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Market Research Report

Global Diabetes Care Devices Market - Segmented by Product and Geography - Growth, Trends, and Forecast (2018 - 2023)

Published by Mordor Intelligence LLP Product code 390762
Published Content info 112 Pages
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Global Diabetes Care Devices Market - Segmented by Product and Geography - Growth, Trends, and Forecast (2018 - 2023)
Published: April 1, 2018 Content info: 112 Pages

The global diabetes care devices market is expected to register a CAGR of about 6.5% during 2018-2023 (the forecast period). North America is anticipated to dominate the market during the forecast period, owing to rising prevalence of obesity in the region.

Rising Prevalence of Diabetes

According to a WHO factsheet, the global prevalence of diabetes among adults of over 18 years has accelerated from about 4.7%, in 1980, to over 8.5%, in 2014. Diabetes prevalence has been rising rapidly in the middle- and low-income countries. In 2015, about 1.6 million deaths were directly associated with diabetes, which was around 2.2 million in 2012. Almost half of all deaths attributable to high blood glucose occur before the age of 70 years. WHO projects that diabetes is likely to be the seventh leading cause of death by 2030. Growing prevalence of diabetes is the major driver for the global diabetes care devices market. Additionally, rising awareness regarding diabetes care, growing prevalence of obesity, and technological advancements are further driving the market for diabetes care devices.

High Cost of Advanced Devices and Accessories

Diabetes care devices are expensive for a majority of people across the globe. Even small-sized devices are expensive for the middle or lower middle class population. Despite insurance coverage, the cost to maintain the devices is high. In an average, a US citizen has to spend about USD 5,000 out of his pocket to buy a device and related treatment supplies. This acts as a major hurdle for the low income penny pinchers across the nation. Not only the sole device cost is high but the associated products are expensive, too. For example, one has to buy not only the insulin pump but also the monitor probes (that have to be replaced weekly at times), disposable tubing, and nearly 10 strips per day. Thus, high costs associated with advanced devices, coupled with inconsistent reimbursements across geographies, are likely to impede the market growth.

North America to Dominate the Market

North America is dominating the diabetes care devices market. The factors attributing to this growth are the rising prevalence of diabetes, caused mainly due to urbanization and sedentary lifestyles. Asia-Pacific is anticipated to grow tremendously during the forecast period, owing to factors, such as a high prevalence of diabetes, growing obese population, and government initiatives of raising awareness, regarding diabetic care.

Key Developments in the Market

March 2018 - Medtronic PLC received the US Food and Drug Administration (FDA) approval for Guardian(TM) Connect continuous glucose monitoring (CGM) system, for diabetics aged between aged between 14-75 years.

January 2018 - Abbott announced that the FreeStyleLibre System, the company's revolutionary new continuous glucose monitoring (CGM) system, is now available to Medicare patients in the United States.


Reasons to Purchase this Report

Current and future global diabetes care devices market outlook in the developed and emerging markets

Various perspectives of the market with the help of Porter's five forces analysis

The segment that is expected to dominate the market

Regions that are expected to witness the fastest growth rates during the forecast period

The latest developments, market shares, and strategies that are employed by the major market players

3 months analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.

Table of Contents
Product Code: 49436

Table of Contents

1. Introduction

  • 1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

  • 5.1 Current Market Scenario
  • 5.2 Porter's Five Forces Analysis
    • 5.2.1 Bargaining Power of Suppliers
    • 5.2.2 Bargaining Power of Consumers
    • 5.2.3 Threat of New Entrants
    • 5.2.4 Threat of Substitute Product and Services
    • 5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

  • 6.1 Market Drivers
    • 6.1.1 Growing Diabetes Prevalence Worldwide
    • 6.1.2 Technological Advancement
    • 6.1.3 Growing Awareness Regarding Diabetes Care
    • 6.1.4 Growing Prevalence of Obesity
  • 6.2 Market Restraints
    • 6.2.1 High Cost of Advanced Devices and Accessories
    • 6.2.2 Inconsistent Reimbursements across Geographies
  • 6.3 Opportunities
  • 6.4 Key Challenges

7. Market Segmentation

  • 7.1 By Product
    • 7.1.1 Glucose Monitoring Devices
      • Continuous Glucose Monitoring Device
      • Lancets
      • Self-monitoring Blood Glucose Meters
      • Testing Strips
    • 7.1.2 Insulin Delivery Devices
      • Insulin Jet Injectors
      • Insulin Syringes
      • Insulin Pumps
      • Insulin Pens
  • 7.2 By Geography
    • 7.2.1 North America
      • United States
      • Canada
      • Mexico
    • 7.2.2 Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
      • Rest of Europe
    • 7.2.3 Asia-Pacific
      • China
      • Japan
      • India
      • Australia & New Zealand
      • South Korea
      • Rest of Asia-Pacific
    • 7.2.4 Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa
    • 7.2.5 South America
      • Brazil
      • Argentina
      • Rest of South America

8. Competitive Landscape

  • 8.1 Mergers and Acquisition Analysis
  • 8.2 Agreements, Collaborations, and Partnerships
  • 8.3 New Products Launches

9. Key Players

  • 9.1 Abbott
  • 9.2 Acon Laboratories, Inc.
  • 9.3 Bayer AG
  • 9.4 Becton, Dickinson and Company
  • 9.5 Eli Lilly & Co.
  • 9.6 F. Hoffmann-La Roche Ltd
  • 9.7 Johnson and Johnson
  • 9.8 Medtronic PLC
  • 9.9 Novo Nordisk A/S
  • 9.10 Sanofi
  • 9.11 List Not Exhaustive

10. Future of the Market

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