Global Diabetes Devices Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global Diabetes Devices market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
Continuous increase in the incidences of patients of diabetes along with a globally aging population is contributing to the growth of the Diabetes Devices market. Technological improvements and the launch of innovative products are also driving factors for the emanating demand for diabetes devices. Changing eating habits, diet patterns, long working hours, etc., have contributed significantly to an exponential increase in diabetic population. The growth in food adulteration and extensive eating-out culture have been the other factors resulting in the growth of number of patients of diabetes.
According to MarkNtel Advisors’ research report titled “Global Diabetes Devices Market Analysis, 2020”, the Global Diabetes Devices market is anticipated to grow at a CAGR of around 7.2% during 2020-25. Moreover, soaring awareness regarding health among individuals can also be a driving force through 2025. The global health expenditure is expected to reach around USD 490 billion by 2030, according to the National Center for Biotechnology Information (NCBI).
Integration of Artificial Intelligence (AI) by the Companies Spurring the Diabetes Devices Market
Launch of novel diabetes monitoring products and technologically equipped treatment devices are the driving factors for the growth of the market. Companies across the globe are launching devices and monitoring systems for the growth of the market. For instance, in 2019, Eli Lily, a company that manufactures the solutions for the delivery of insulin using artificial intelligence (AI), came into partnership with Bigfoot Biomedical, as stated in the MarkNtel Advisors’ research report “Global Diabetes Devices Market Analysis, 2020”.
Soaring Awareness Among Patients is Propelling the Self-Monitoring Segment
The blood glucose monitoring system also contributed a major market share and the self-monitoring segment is showcasing commendable progress as self-measuring of blood sugar levels for the patients is easy with the help of glucose meter. The testing strips are gaining traction as these are affordable and easy to use. The devices segment attained the highest market share on an account of catalyzing usage of insulin pens and pumps. Also, the key companies are collaborating with other major players in the market for making advancements in technology and introducing new products. For instance, Tidepool collaborated with Medtronic to manufacture an automated insulin pump system. According to MarkNtel Advisors, the key players with a considerable market share in the Global Diabetes Devices market include Medtronics, Abbott Laboratories, Bayer Corporation, Sanofi, Arkray Inc., Dexcom, LifeScan Inc, Novo Nordisk, F. Hoffmann-La Roche, B. Barun Melsungen AG, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Diabetes Devices Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of units sold (Million units).
Q. What would be the growth rate or CAGR of Global Diabetes Devices Market during 2020-25?
A. The growth rate of Global Diabetes Devices Market during 2020-25 is forecast to be around 7.2%.
Q. Who are the key competitors or players operating in Global Diabetes Devices Market?
A. Medtronics, Abbott Laboratories, Bayer Corporation, Sanofi, Arkray Inc., Dexcom, LifeScan Inc,, Novo Nordisk, F. Hoffmann-La Roche, B. Barun Melsungen AG are few of the leading players in the Global Diabetes Devices Market.
Q. Which type segment would emerge as an opportunity area for players in Global Diabetes Devices Market?
A. Blood glucose monitoring segment application segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Diabetes Devices Market?
A. The North America grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Diabetes Devices Market.
