BURNABY, Canada, November 19, 2015 /PRNewswire/ --
Increasing disease burden and growing technological advancements to drive diabetes management devices market in India
According to the recently published Pharmaion report, "India Diabetes Management Devices Market Forecast & Opportunities, 2020", diabetes management devices in India is projected to exhibit a CAGR of over 9% during 2015 - 2020. Changing eating habits and sedentary lifestyle is increasing the prevalence of diabetes in the country, thereby driving the sales of diabetes management devices in India. Furthermore, surging domestic manufacturing of diabetes management devices is anticipated to play a significant role in boosting adoption of these devices in India in the coming years.
The market has been segmented into two broad categories, namely, diabetes monitoring devices and diabetes management delivery devices. Among these device types, diabetes monitoring devices segment is anticipated to continue its domination through 2020 on account of rising patient awareness regarding preventive health care and introduction of compact, potable and user-friendly monitoring devices. During 2015 - 2020, Southern region of India is expected to witness the highest growth on account of growing prevalence of diabetic cases and rising consumer awareness about using these devices in the region.
"In April 2015, Indian Government approved 100% FDI, through automatic route, in medical devices market, which will allow the entry of foreign companies in diabetes management devices market. As a result, the competition between market players is anticipated to increase, which is expected to bring down the prices of these devices during the forecast period." said Mr. Karan Chechi, Research Director with Pharmaion, a research based global pharmaceutical and healthcare consulting firm.
"India Diabetes Management Devices Market Forecast & Opportunities, 2020" report has analyzed the potential of diabetes management devices market and provides statistics and information on market size, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with major drivers, challenges and opportunities available in India diabetes management devices market.
Pharmaion is a research based management consulting firm focused exclusively on Healthcare & Pharmaceutical industry. Led by a team of dynamic industry experts, Pharmaion provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, Pharmaion's clients lead rather than follow market trends. Pharmaion has developed a proprietary database which focuses on identifying the unexplored opportunities in Healthcare and Pharmaceutical industry.
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