Diabetes Care Devices Market 2020: Opportunities and Market Forecast to 2022

The market is divided into two main segments namely glucose mentoring devices and insulin delivery devices.
Diabetes is a chronic condition in which patient has an abnormally high level of sugar (glucose) in the blood. The global diabetes patient pool is expected to reach 385 million in near future because of increasing aging population, unhealthy dietary patterns and sedentary lifestyle.

Market Dynamics:
Increase in the diabetes incidence rate caused by rapid urbanization and sedentary lifestyle is the major factor driving the growth of diabetes care devices market. Also, technological advancements of diabetes care devices, consumption of junk food, rise in obese population, the surge in need for diagnosis and treatment of diabetes at a faster rate is further expected to boost the market growth.

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Lack of ability to measure the exact level of glucose in blood and adverse effects associated with blood glucose monitoring devices are major factors hindering the market growth. Increase in awareness about diabetes monitoring devices in the developing regions is expected to provide numerous opportunities for the market growth.
Current developments in Insulin delivery devices in the US will allow for strong growth by 2017 and the insulin pen and insulin pump patient share will also increase in near future.

Market Segmentation:
The market is segmented into glucose monitoring devices market and insulin delivery devices market. The glucose monitoring devices market is segmented into blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring device. Insulin delivery devices market is further segmented into insulin syringes, insulin pens, insulin pumps and insulin injectors. Based on geography, the market is further divided into North America, Asia-Pacific, Europe and Rest of the world.

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Regional/Geographic Analysis:
Among the different geographies, the US is the major market, contributing one-third of the global revenue. Asia-Pacific region, especially China, is expected to show a huge growth in this market because of continuous economic growth, the high population suffering from diabetes, drastic change in the lifestyle, and lack of awareness in people for diagnosis and treatment.

Key Players:
Some of the major players in the market include Abbott Laboratories, Becton Dickinson, Roche Diagnostics LifeScan, AgaMatrix, Animas, and DarioHealth.

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