Press Release

Diabetes Devices Market Share, Business Analysis and Growth Forecast to 2026

Diabetes Devices Market by Top International Players are Abbott, Sanofi, Hoffmann-La Roche Ltd, Medtronic, Braun Melsungen AG, Eli Lilly Company, BD, Tandem Diabetes Care, Inc.

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. This happens as the body does not make enough insulin (a hormone made by the pancreas), which helps the glucose enter the cells and supply the body with energy to function. Diabetes devices such as insulin pumps and continuous glucose monitors are used by medical professionals and patients to regulate and monitor blood glucose levels.

Browse Complete Report [email protected] https://www.fortunebusinessinsights.com/industry-reports/diabetes-devices-market-100803

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

key industry developments

  • In September 2018, DiaMonTech GmbH, in, launched a shoebox-sized device that can diagnose the blood glucose levels by using an infrared light beam through the skin.
  • In February 2019, Tandem Diabetes Care, Inc., received FDA approval for the marketing of the first insulin pump with interoperable technology for children and adults with diabetes. t: Slim X2 insulin pump is the first device to be classified under a new de novo premarket review pathway.
  • In July 2019, F. Hoffmann-La Roche Ltd. received safety approval for the launch of the Accu-Chek Solo insulin patch pump and wireless touchscreen handheld in Europe.

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.

Additionally, aging populations are increasing in the world, especially the western countries, and the incidence rate of Type 2 diabetes is expected to rise in tandem. This factor will be a major booster for the global diabetes devices market in the forecast period.

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.

More Trending Topics from Fortune Business Insights:

External Defibrillator Market Trends, Growth, Insights, Share, and Forecast Research Report 2026

E-prescribing Market: Growth Opportunities Created by Covid19 Outbreak

Medical Clothing Market – What will be the Short-term Impact of Coronavirus?

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.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close