Abbott Laboratories and Johnson & Johnson Battle for the Top Spot in the Global Diabetic Care Devices Market
HYDERABAD, India, September 30, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the diabetes care devices market. The report titled, "Global Diabetes Care Devices Market - Growth, Trends and Forecast," discusses the current landscape and outlook of the said market.
The global diabetic care devices market is estimated to be USD 22.3 billion in 2016 and is expected to reach USD 30.4 billion by 2021, while projecting a CAGR of 5.93%. The report is an amalgamation of the current market scenario, its future prospects, and forces driving the market as well as those that are restraining the growth of the market along with the key market players. It highlights the market geographically in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Globally, diabetes continues to be the fourth leading cause of death by a disease. According to the International Diabetes Federation, seven million people are added every year to the pool of 246 million diabetics. Around 3.8 million people die each year from diabetes and even more people die of other chronic diseases as a result of diabetes.
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The global diabetes patient pool is expected to reach 380 million by 2025 because of increasing aging population, sedentary lifestyle, and unhealthy dietary patterns. The report details several driving and restraining factors for the global diabetes care devices market. The invention of new and innovative technologies as a result of increased research and development expenses for diabetes diagnosis and treatment, development of non-invasive products for treatment, increasing awareness, and improving diagnosis and treatment rates are a few of the reasons that will help in market growth. The market is constrained by high cost associated with diagnosis and treatment, reimbursement issues and patent expiry.
Our report on the diabetes care devices market has been segmented as follows:
- Diabetes Care Devices
- Glucose Monitoring Devices
- Blood Glucose Meters
- Blood Glucose Test Strips
- Lancing Devices
- Continuous Glucose Monitoring Devices
- Insulin Delivery Devices
- Insulin Pumps
- Insulin Syringes
- Insulin Pens
- Glucose Monitoring Devices
- Therapy Type
- Injectable
- Oral Drugs
- Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
Asia-Pacific, especially China possesses impressive growth potential for the diabetic care devices market in the years to come. This can be explained with the presence of an extensive customer base in this region because of continuous economic growth, high population suffering from diabetes, drastic change in the lifestyle, and lack of awareness in people for diagnosis and treatment.
The leading companies that dominate the diabetic care devices market are Abbott Laboratories, Dexcom Inc., Johnson & Johnson, Merck & Co., Bayer HealthCare AG, Eli Lilly and Company, Roche Diagnostics Limited, Medtronic, Inc., Tandem Diabetes Care, Inc., Sanofi S.A., Terumo Corporation, Arkray Inc., Becton, Dickinson and Company, Ypsomed AG, Novo Nordisk A/S, and Ypsomed AG.
About Mordor Intelligence:
Mordor Intelligence is a global market research and consulting firm. Our focus is to provide research insights to facilitate business success. Our research expertise covers niche segments under Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive, among others. We believe in data, and we provide solutions through it. Optimum solutions and goal-oriented strategies define our endeavors and make us the preferred choice for clients.
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