New York, According to a new market research report published by Global Insight Services “Diabetes Devices Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
There are many different types of diabetes devices, including insulin pumps, continuous glucose monitors (CGMs), and blood glucose meters.
Insulin pumps are small, computerized devices that deliver insulin through a catheter placed under the skin. Insulin pumps can be programmed to deliver different amounts of insulin at different times of the day, and can be used to closely mimic the body’s natural insulin production.
Continuous glucose monitors (CGMs) are devices that continuously measure glucose levels in the body. CGMs can be used to help people with diabetes better manage their blood sugar levels by providing real-time glucose readings and alerts for high or low glucose levels.
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Key Players
- Abbott Laboratories
- Dexcom, Inc.
- Johnson & Johnson
- Sanofi
- Bayer AG
- Novo Nordisk A/S
- Tandem Diabetes Care, Inc.
Key Trends
There has been a lot of advancements in the diabetes devices market and technology in recent years. Here are some of the key trends:
- Continuous Glucose Monitoring (CGM) Devices: These devices have become increasingly popular in recent years as they allow people with diabetes to better monitor their blood sugar levels.
- Insulin Pumps: Insulin pumps are also becoming more popular, as they can provide a more consistent level of insulin to people with diabetes.
- Artificial Pancreas Devices: These devices are still in development, but they hold promise for people with diabetes who have trouble regulating their blood sugar levels.
- Diabetes Apps: There are a number of apps available that can help people with diabetes track their blood sugar levels, food intake, and exercise.
- Wearable Devices: There are a number of wearable devices that can help people with diabetes track their blood sugar levels and activity levels.
Key Drivers
Some of the key drivers of the diabetes devices market are the increasing prevalence of diabetes, the growing number of obese and overweight population, the aging population, and the changing lifestyle.
- The rising incidence of diabetes is one of the major factors driving the growth of the diabetes devices market. According to the World Health Organization (WHO), the global prevalence of diabetes has reached 8.5% in adults in 2014 and in 2019 diabetes was the direct cause of 1.5 million deaths.
- The number of obese and overweight people is also increasing globally. According to the World Obesity Federation, the number of obese people is expected to reach 2.7 billion by 2025.
- The changing lifestyle is another key driver of the diabetes devices market. The sedentary lifestyle and the unhealthy diet are the major risk factors for diabetes. The number of people with diabetes is expected to rise with the changing lifestyle.
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Market Segments
Monitoring Devices
- Self-Monitoring
- Continuous Glucose Monitoring
Insulin Delivery Devices
- Insulin Syringes
- Insulin Pens
- Insulin Pumps
- Insulin Jet Injectors
End Use
- Homecare
- Hospitals
- Diagnostic Centers
- Specialized Centers
Reasons to buy Diabetes Devices Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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