Key factors contributing to the high CAGR are increasing prevalence of diabetes and lack of awareness. Further, aspects such as technological progressions, product launches and collaborations are fueling the market growth of diabetes devices.
The global diabetes devices market was valued at USD 25.46 Billion in 2020 and is expected to reach USD 44.36 Billion by 2028, at a CAGR 7.1% Rising awareness about therapeutics for diabetes and diabetes management among patients is strengthening growth of the market. Continuous technological developments and advancements in the product is another factor expected to create potential opportunities in the market and continue over the forecast period. The diabetes devices offer a solution to diabetes affected patients manage the sugar level in the blood. diabetes device are devices used for checking the sugar level in the blood, it is also used to control glycemic improvement and reduction in hypoglycemia.
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Some of the key players operating in the Diabetes Device market include:
Medtronic, Insulet, Dexcom, Sanofi, Tandem, Ypsomed, Eli Lilly, Bayer Healthcare AG, Becton Dickinson and Company, Novo Nordisk A/S, Abbott Laboratories, F. Hoffman-La Roche AG and Johnson Johnson.
Segments covered in the report:
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
Type (Revenue in USD Million; 2016–2026)
- Glucose Monitoring Devices
- Self- monitoring blood glucose meters
- Blood glucose testing strips
- Lancets
- Continuous glucose monitoring meters
- Insulin Delivery Devices
- Insulin syringes
- Insulin pens
- Insulin pumps
- Diabetes Management Software
- Artificial Pancreas System
Distribution Channels (Revenue in USD Million; 2016–2026)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Diabetes Clinics/ Centers
- Others
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Beneficial Aspects of the Report:
- Global and region forecast of the Diabetes Device market from 2020-2027
- In-depth analysis of market dynamics, industry outlook, market size based on types and applications
- Details of value chain analysis, supply and demand ratio, production and consumption patterns
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
- Detailed insights on competitive landscape and emerging market trends
Research Methodology:
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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