According to the latest report published by Credence Research, Inc. “Diabetes Devices Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the global diabetes devices market was valued at USD 20.4 Bn in 2015, and is expected to reach USD 28.2 Bn by 2022, expanding at a CAGR of 4.6% from 2016 to 2022.
With approximately 385 Mn diabetic patients and a burden of 175 Mn undiagnosed population, the burden of diabetes is significant. Lifestyle, increase in obesity prevalence, dietary changes and ageing are some of the critical factors contributing to the growing prevalence of diabetes worldwide. The global diabetes management market is majorly driven by rising disease prevalence, technological innovation, growing preference for automated disease management solutions are the prime drivers of diabetes devices market.
Growth of the global diabetes management devices market is also supported by significant investments, scope of penetration in middle- and low-income countries and increasing awareness in patient population about effective diabetes management and thereby prevention of disease related complications. On the other hand, high costs of novel diabetes management products and monitors, compliance issues, safety concerns and reimbursement issues are some of the market hindrances faced by the diabetes device manufacturers.
Browse the full report Diabetes Devices: Market Growth, Future Prospects and Competitive Analysis, 2016-2022 report at http://www.credenceresearch.com/report/diabetes-devices-market
This report classifies the overall diabetes devices market into insulin delivery devices and glucose monitoring devices segments. The insulin delivery devices segment studies individual market for insulin pumps, insulin syringes, insulin pens and insulin inhalers. The glucose monitoring products studied in this report include test strips, lancing devices and lancets, glucose meters and continuous glucose monitors. Insulin delivery devices currently take the larger share of the overall diabetes devices market and it is anticipated that the demand for these products shall remain high through the forecast period. Additionally, continuous glucose monitors is anticipated to be the fastest growing segment in the total market, where the growth is facilitated by rapid technological innovation in this field by players such as Dexcom and prove efficiency of these devices in management of both type 1 and type 2 diabetes.
Geographically, North America and Europe are the largest regional markets for diabetes devices. High awareness, diabetes prevalence and evolved reimburse systems for novel drug delivery and monitoring systems are the prime market growth drivers in these regions. Furthermore, Asia-Pacific and Middle East and Africa are the fastest growing regions in the global market. Phenomenal rise in diabetes prevalence in countries such as India, China and Middle East countries are the major growth facilitators in these region.
The overall diabetes devices market is led by F. Hoffmann La Roche through its flagship product line Accu Chek and is followed by Animas Corporation and LifeScan with their wide product offering. Eli Lilly currently is among the top players in the diabetes delivery devices segment.
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Name: Chris Smith
Designation: Global Sales Manager
Web: Credence Research
Company Name: Credence Research
Contact Person: Chris Smith, Global Sales Manager
Address:105 N 1st ST #429
City: SAN JOSE
Country: United States
Syndicated from GetNews
This post has been seen 134 times.