Sarasota, FL, Oct. 05, 2016 (GLOBE NEWSWIRE) — Zion Research has published a new report titled “Diabetes Care Devices Market by Glucose Monitoring Device (Blood Glucose Meters, Blood Glucose Test Strips, Lancing Devices, Continuous Glucose Monitoring Devices, HbA1c Testing Kits and Others) and by Insulin Delivery Device (Insulin Pumps, Insulin Syringes and Insulin Pens) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021″. According to the report, the global diabetic care device market was valued at around USD18.50 billion in 2015 and is expected to reach around USD26.00 billion by 2021, growing at a CAGR of around 5.9% between 2016 and 2021.
Diabetes is a metabolic disorder that affects your pancreas ability to produce or use insulin. Insulin is a hormone secret by the beta cell of the islet of Langerhans of the pancreas. When your body turns the food which u eat into energy molecule glucose. In response to glucose, the body secretes insulin which helps to transport glucose/energy to the cells. Insulin acts as a key to remaining energetic. It is a chemical message that tells the cell to open and receive glucose. If the body produces little or no insulin or are insulin resistant, too much sugar remains in your blood. Blood glucose levels are higher than normal for individuals. This results in diabetes. There are two main types of diabetes: Type 1 and Type 2. Type 1 is also known as insulin dependent diabetes mellitus whereas type 2 is known as noninsulin dependent diabetes mellitus.
Browse through 23 Market Tables and 31 Figures spread over 130 Pages and in-depth TOC on “Global Diabetes Care Devices Market: By Device Type, Applications, Size, Growth and Forecast 2015-2021”
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For monitoring or management of blood glucose levels, the various device is used. These diabetes care devices include glucose monitoring device and insulin delivery device. Common test performed to diagnose diabetes by the physician includes pre and post lunch blood glucose test and HbA1c test.
A diabetes care device helps the patients in the management or monitoring of blood glucose levels which occur due to inadequate insulin production secret by the beta cell of pancreas or insulin resistance (in the ability of insulin to detect the glucose molecules). The diabetes care devices market is largely driven by the increasing incidence of diabetics across various developed/developing countries, especially among obese population. In addition, increasing research and development on diabetes coupled with increasing collaborations and funding by various market players can fuel the growth of diabetes care device market. However, excessive cost of diabetes care devices, irregular reimbursement coupled with the presence of cost-effective alternative treatments may hinder the growth of the market.
Browse the full “Diabetes Care Devices Market by Glucose Monitoring Device (Blood Glucose Meters, Blood Glucose Test Strips, Lancing Devices, Continuous Glucose Monitoring Devices, HbA1c Testing Kits and Others) and by Insulin Delivery Device (Insulin Pumps, Insulin Syringes and Insulin Pens) – Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021” report at https://www.zionmarketresearch.com/report/diabetes-care-devices-market
North America was the dominating region for diabetes care device market in 2015. The growth was accredited due to rising awareness amongst the population regarding symptoms of diabetes followed by the various hazardous effect of persistence of high glucose level in blood. Moreover, high-end research and technological advancements, increasing public interest are the important key factors which drive the demand of diabetes care device market in this region. Higher healthcare expenditure and encouraging healthcare infrastructure in this region are other growth factors for diabetes care device market. In 2014, the North American market for diabetes care devices was estimated at US$ 8.29 billion and projected to reach US$ 10.82 billion in 2021 growing at a CAGR of 4.2%. North America accounted for approximately more than 40% of total revenue of diabetes care device market. In addition, the presence of a large number of biopharmaceutical firms, leading market players and research institutes in North America played a significant role in driving the market for diabetes care device market.
In the European Union, there are approximately more than 31 million people living with diabetes aged between 20 and 79. This signifies an average diabetes prevalence rate of 8.6% of the adult population. This signifies the increasing market of diabetes device in the EU. Europe was the second largest market for global diabetes care device market in 2015. This growth is mainly associated with advancement in technological and healthcare research in this region.
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The Asia-Pacific region may offer upcoming significant opportunities for the diabetes care device market. At present, China and India being the most populous countries in this region contributing to the increased demand for diabetes care devices like blood glucose monitoring devices and insulin delivery devices. China a second largest economy after the U.S. is home to the world’s largest population with close to 1.4 billion inhabitants followed by India with approximately 1.2 billion people in 2014. According to the International Diabetes Federation, China had the largest number of diabetic patients with around 96.2 million diabetic patients followed by India with around 66.8 million diabetic patients in 2014. This represents approximately 40-45% of the global diabetic population living in India and China which provides significant opportunities for the global diabetes care devices companies to invest in this region. As a result, many players in this market are focusing on strengthening their position in this region.
Growing cases of diabetes due to obesity, sedentary lifestyle in the Middle East and Africa are likely to fuel the growth of diabetes care devices within the forecast period.
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Global Diabetes Care Devices Market: Glucose Monitoring Devices Analysis
Global Diabetes Care Devices Market: Insulin Delivery Devices Analysis
Global Diabetes Care Devices Market: Regional Analysis
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