Press Release

Diabetes Devices Market Is Expected to Grasp US$ 49,588.2 Mn by 2026, at a CAGR Of 5.5% Says Fortune Business Insights

Diabetes Devices Market 2018 Global Industry Analysis, Potential Growth, Key Players, Latest Trends

The global diabetes devices market is anticipated to exhibit an impressive CAGR of 5.5% on account of rising prevalence of diabetes. Key insights into this fast growing market, valued at US$ 32,441.3 mn in 2018, have been shared by Fortune Business Insights in its report, titled “Diabetes Devices Market Size, Share and Global Trend By Product (Monitoring Devices, Treatment Devices), By Distribution Channel (Institutional Sales, Retail Sales) and Geography Forecast till 2026”. The report brings out the key aspects that will influence the market in the forecast period. Diabetes is a metabolic disease in which the body is unable to process glucose, leading to elevated levels of blood sugar.

Top Key Players Covered:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Diabetes Devices market. Some of the companies operating the global Diabetes Devices market are;

  • Hoffmann-La Roche Ltd.
  • Medtronic
  • Tandem Diabetes Care, Inc.
  • BD
  • Eli Lilly
  • Company
  • Sanofi

Get PDF Brochure of this [email protected] https://www.fortunebusinessinsights.com/enquiry/sample/diabetes-devices-market-100803

Increasing Incidence of Diabetes to Fuel the Market

The International Diabetes Foundation has estimated that by 2040, the number of people affected by diabetes will reach 642 million. Diabetes is a lifelong condition and an increasing prevalence of the disease bodes well for the global diabetes devices market. Increasing sedentary lifestyles, lack of exercise, obesity, excessive consumption of fatty and sugar-laced food, and rising stress levels are enhancing the risk of diabetes among people. The market size is expected to expand as novel devices are introduced in the market such as wearable glucose monitoring devices and smart insulin pumps. This expansion will happen on account of rising demand for non-invasive techniques to monitor and regulate blood sugar levels in real-time.

Certain Misgivings May Restrain Market Growth

The global diabetes devices market is expected to grow on the basis of steadily rising adoption rates of various monitoring devices. However, certain devices entail a few risks, which may cast a shadow of doubt in the minds of consumers. For example, insulin pumps are very convenient and efficient way to administer the required amount of insulin into the body. But, there is a fear that patients might get infected at the catheter site. Insulin pumps are also expensive, which can push people to avail traditional methods of diabetes care. Similarly, continuous glucose monitors (CGMs) are known to be inaccurate, especially in case of drop in glucose levels. This is mainly because the technology is still developing. CGMs are also known to be expensive.

Europe to Occupy Dominant Market Position

With a revenue generation of US$ 10,029.7 in 2018, Europe is anticipated to continue to dominate the global diabetes devices market in the forecast period. Major factors that are expected to the drive the market in Europe are rising percentage of aging populations with Type 2 diabetes and access to low-cost insulin devices.

The Asia-Pacific region is expected to register a remarkably high CAGR owing to the increasing incidence rates of diabetes among the population, a higher demand for monitoring devices, and growing adoption of advanced blood glucose meters.

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Dale Martinez

Dale possesses an engineering degree in Electronics from the Georgia Institute of Technology. She is the sole contributor at the Healthcare IT column. Before opting to write, Dale worked at major firms such as Microsoft, Amazon, GE, Raytheon, and so on. She possesses vast knowledge about a variety of fields like IT, IoT, Telecommunications, Health Dialysis, photovoltaic, and many others. Dale is also a ballet dancer.

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