The research study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
How the market Growth Impact in terms of revenue?
The Global Diabetes Care Devices Market size is projected to reach USD 4.3 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 16.2% during the forecast period.
Diabetes Care Devices Market, Growth Factor Analysis:
· Sharp increase in diabetes in the past decade
· Favorable national health strategies
· Government-LED endorsement of the medical device industry
· Diabetes awareness campaigns
· Increasing penetration of smartphones and rising focus on digital health
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Blood Glucose Monitoring System Estimates to Dominate the Growth of the market.
Insulin Delivery Devices, and diabetes management mobile applications. Under the blood glucose monitoring systems segment, the test strips segment is estimated to account for the largest share in 2020. The dominance of this segment can be attributed to the frequent requirement of test strips in blood glucose monitoring systems.
Self/Home Healthcare Is Projected To Witness the Highest CAGR Growth.
The rapid growth of the segment is attributed to the increasing awareness of diabetes self-monitoring and management, increasing recommendations from physicians for home healthcare for diabetes, and the increasing utility of home-based diabetes care devices to provide real-time insights regarding the condition due to the technological advancements of these systems.
Objectives of the Study in Depth;
· To define, describe, and forecast the diabetes care devices market by type, end user, and country
· To provide detailed information about the factors influencing the market growth (such as drivers, opportunities, restraints, and challenges)
· To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall diabetes care devices (BRIC) market
· To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
· To forecast the size of the diabetes care devices market in Brazil, Russia, India, and China
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China is projected to hold the largest share in the diabetes care devices (BRIC) market during the forecast period. This can be attributed to the sharp increase in diabetes in the country, favorable national health strategies, and government-led endorsements of medical device companies.
The prominent players in the diabetes care devices market include Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc. (US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Ascensia Diabetes Care Holdings AS (Switzerland), LifeScan (US), AgaMatrix Holdings LLC (US), Acon Laboratories, Inc. (US), ARKRAY USA, Inc. (US), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo Corporation (Japan), SD Biosensor, Inc. (South Korea), MicroGene Diagnostic Systems Pvt. Ltd. (India), Ypsomed Holdings AG (Switzerland), Dr. Morepen (India), Sinocare, Inc. (China), Bionime Corporation (Taiwan), and Rossmax International Ltd. (Taiwan).