Pulse Oximeters And Spirometers Market Definition

The pulse oximeters and spirometers market consists of sales of pulse oximeters and spirometers that are used as respiratory care devices, and to check on general health, in the healthcare industry. The market includes the sales of handheld, tabletop or fingertip pulse oximeters that are used to monitor the oxygen saturation levels of the blood and pulse rate, as well as handheld, desktop or tabletop spirometers that are used to measure the air capacity of lungs. Pulse oximeters and spirometers companies are primarily engaged in the manufacturing and developing of these devices used to monitor the respiration-related parameters that aid in the detection of respiratory disorders.

Masks (N95 Respirators and Other Surgical Masks) Market Definition

The masks (N95 respirators and other surgical masks) market consists of sales of N95 respirators and other surgical masks (face masks) by entities (organizations, sole traders, and partnerships) that are used as personal protective equipment to protect the wearer from airborne particles and from liquid contaminating the face, or to ensure the wearer does not contaminate the area around them. The market consists of revenue generated by companies that are manufacturing and selling N95 respirators and surgical face masks. An N95 respirator is defined as a personal protective, facepiece, particulate-filtering, respiratory device that protects the wearer from airborne and liquid contamination. These types of masks are predominantly used in the industrial or the healthcare sector, to protect workers from various respiratory and airborne diseases. N95 respirator is designed for a close facial fit and to filter at least 95% of airborne particles.

Diabetes Care Devices Market Definition And Segments

Diabetes care devices are used to monitor and control blood glucose levels in diabetic patients. The main types of diabetes care devices are blood glucose test strips, insulin pens, syringes, pumps and injectors, lancing devices and equipment, continuous glucose monitoring devices and equipment, and blood glucose meters. Insulin pens are injection devices with a needle that delivers insulin into the subcutaneous tissue. The types of expenditures are public and private, and the products used are instruments/equipment and disposables. The various types of testing are point of care (POC) testing, and non-point of care (POC) testing and used by various end-users such as hospitals and clinics, diagnostic laboratories, and others. The diabetes care devices market covered in this report is segmented – 1) By Type: Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters 2) By Type of Expenditure: Public, Private 3) By Product: Instruments/Equipment, Disposables 4) By Type Of Testing: Point Of Care (POC) Testing, Non-Point Of Care (POC) Testing 5) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users Subsegments Covered: Glucose Dehydrogenase, Glucose Oxidase, Pens, Injectors And Pumps, Syringes The diabetes care devices market size has grown strongly in recent years. It will grow from $64.27 billion in 2023 to $69.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increasing diabetes prevalence, economic growth, public health insurance reforms, increased geriatric population, and increased healthcare expenditure. The diabetes care devices market size is expected to see strong growth in the next few years. It will grow to $93.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increase in R&D investments and research collaborations, increase in disease burden, government initiatives and technological development. Major trends in the forecast period include stick free glucose testing, glucose responsive insulins (GRIS), artificial pancreas, shift in traditional insulin syringes, wearable and mobile glucose monitoring systems, intelligent glucose meters.

Rising Healthcare Expenditures Expected To Propel Diabetes Care Device Market Growth

Increasing healthcare expenditures are anticipated to propel the growth of the diabetes care device market going forward. Healthcare expenditures refer to the total amount spent on healthcare-related services, products, and activities within a specified period, typically on an individual, community, national, or global level. The increasing healthcare expenditures, coupled with greater access to healthcare services and rising diabetes diagnoses, drive heightened investments in research and development, leading to the advancement of diabetes care devices such as improved glucose monitoring systems, insulin delivery devices, and digital health solutions. For instance, in May 2023, the Office for National Statistics, a UK-based statistics authority, reported that healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. UK total healthcare expenditure in 2021 was $367.25 billion (£280.7 billion), and pharmaceutical expenditure was $51.84 billion (£39.6 billion) in 2021. Further, spending on preventive care was $45.93 billion (£35.1 billion) in 2021, more than doubling from the previous year. Therefore, increasing healthcare expenditure will drive the growth of the diabetes care device market going forward.

Changing Lifestyles And Rising Diabetes Prevalence Fueling Market Growth

Busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as diabetes. Long working hours, limited physical activity, and unhealthy eating and drinking habits are major causes of diabetes. For instance, in July 2021 the International Diabetes Federation (IDF), a Germany-based umbrella organization of over 240 national diabetes associations stated in its IDF Diabetes Atlas 10th edition that the estimated global population of individuals living with diabetes is expected to increase to 643 million by 2030 and further to 783 million by 2045, up from approximately 537 million adults aged 20 to 79 living with diabetes in the year 2021. These factors are expected to aid market growth in the forecast period. Major companies operating in the diabetes care devices market report are Becton, Dickinson and Company, Novo Nordisk A/S, Roche Holding AG, Nipro Corporation, HTL-STREFA Inc., ARKRAY, Terumo Corporation, Owen Mumford, Ypsomed AG, Vogt Medical, Sanofi India, Biocon Ltd., Mehar healthcare, Johnson & Johnson, GE Healthcare, Covidien Healthcare, Philips Healthcare India, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell medical equipment & supply Co, Olympus Medical Systems, Hitachi Medico, Nihon Koden, Fukuda Denshi, Medtronic, Emperra GmbH E-Health, Novo Nordisk A/S, Insujet, Eli Lilly, Fresenius Medical Care, Siemens, Stryker, Teleflex Medical, LifeScan, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcom Inc., SocialDiabetes, Dottli, Themis Bioscience, Ok biotech, Acon Laboratories, Bayer AG, AgaMatrix.

Challenges Posed By High Costs Of Diabetes Care Devices In Market Expansion

The diabetes care device market is expected to be limited by the high cost of the equipment, especially in low-income countries where the cost of diabetes devices is very high, despite insurance coverage. For instance, in the US, all the expenses related to diabetes treatment, which includes diabetes care devices, can reach $1,000 a month. Thus, the high costs associated with diabetes care devices and their accessories are likely to impede market growth going forward.

Medtronic's Extended Infusion Set Fuels Market Expansion

Major companies operating in the diabetes care devices market are focused on developing innovative products, such as Medtronic Extended Infusion, to increase the profitability in the market. The Medtronic Extended Infusion Set is a tube that delivers insulin from the pump to the body and is designed for up to 7 days of wear. For instance, in April 2021, Medtronic PLC, a US-based medical equipment manufacturer, launched the Medtronic Extended infusion set in select European countries. The product is currently accessible for purchase in specific European nations, initially debuting in Finland and Belgium, with plans for a gradual rollout to additional European countries. Moreover, the Extended infusion set incorporates innovative technology and alternative materials, enabling it to be worn for double the duration compared to other Medtronic infusion sets, which are typically approved for 2-3 days of use.

Investment In Glucose-Responsive Insulins (GRIS) Creates Opportunities For Innovative Insulin Delivery Devices

Pharmaceutical companies are investing in developing and commercializing glucose-responsive insulins (GRIs), providing significant opportunities for the development of new types of insulin delivery devices. For instance, Novo Nordisk, a Danish pharmaceutical company, has planned to develop GRIs by acquiring UK biotech start-up Ziylo with an investment of $800 million. Companies such as Eli Lily and Sanofi have also planned research projects to develop GRIs. GRIs are smart insulins that automatically activate or deactivate in response to changing glucose levels in the blood. They improve diabetes treatment efficacy and reduce the incidence of hyperglycemia and hypoglycemia. North America was the largest region in the global diabetes care devices market in 2023. Western Europe was the second largest region in the global diabetes care devices market. The regions covered in the diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the diabetes care devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The diabetes care devices market consists of sales of blood glucose monitoring devices, insulin delivery devices, smart insulin pens and others that are used for monitor and treat diabetes patient. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The diabetes care devices market research report is one of a series of new reports from The Business Research Company that provides diabetes care devices market statistics, including diabetes care devices industry global market size, regional shares, competitors with a diabetes care devices market share, detailed diabetes care devices market segments, market trends and opportunities, and any further data you may need to thrive in the diabetes care devices industry. This diabetes care devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Diabetes Care Devices Market Definition

The diabetes care devices (or) equipment market consists of sales of diabetes care devices and related services by entities (organizations, sole traders and partnerships) that produce diabetes care devices used to monitor and control blood glucose levels in diabetic patients. This industry includes establishments that produce blood glucose test strips, continuous glucose monitoring devices, and blood glucose meters used to check blood glucose levels; insulin pens, syringes, pumps and injectors used to inject insulin; and others. Diabetes care devices are designed to diagnose, monitor or manage type I and type II diabetes mellitus. Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. Insulin is a hormone that regulates blood sugar.

Nebulizers Market Definition

The nebulizer devices market consists of sales of nebulizers by entities (organizations, sole traders and partnerships) that are used in respiratory care for patients with respiratory diseases including asthma, cystic fibrosis and COPD. A nebulizer is a drug delivery device that changes medication from a liquid to a mist form (fine droplets or aerosols) for direct inhalation into the lungs. The components that make up a nebulizer, include air filters, tubing, and compressor to deliver medication to the user in a vaporized form.

Ultrasound Devices Market Definition

The ultrasound devices market consists of the sales of ultrasound devices and related services by entities (organizations, sole traders and partnerships) that manufacture ultrasound devices for use in the healthcare industry. Ultrasound imaging is an imaging method in which high frequency sounds waves, usually 1-20 MHz, are transmitted into the body, encountering tissues, organs, fluids, gases, and bones. An ultrasound device is diagnostic imaging equipment that is available in different sizes. The large ultrasound machines that are used for performing cardiac, echo, vascular and OB/GYN studies are heavy and cannot be moved easily. They are known as fixed or stationary ultrasound devices. The small ultrasound devices are often compact and lightweight and can be easily moved to any areas of the hospitals, clinics, doctor’s office and to outpatients. These devices are useful for short duration treatments. Compact or mobile ultrasound devices can be folded in a small package whenever needed for transportation and easily connected to a computer to view digitally generated images of the interiors of a body.

X-Ray Devices Market Definition

The X-ray devices market consists of the sales of X-ray devices by entities (organizations, sole traders and partnerships) that manufacture X-ray devices for use in the healthcare industry. An X-ray device is an X-ray imaging device for healthcare providers used for the diagnosis and imaging of patients suffering from various diseases. These devices are used in hospitals, medically oriented aid organizations, home care, old age homes, ships and offshore platforms. These devices have a wide range of life span for each product, for instance, x-ray tube which converts electrical energy to x-rays has a lifecycle between 5-7 years.

The operating room equipment market consists of sales of operating room equipment and related services. Operating room equipment is used during surgery and includes surgical beds, operating tables, operating table accessories, operating room lights, operating room integration systems and equipment management systems. The global operating room equipment market is expected to grow from $7.9 billion in 2019 to $10.8 billion in 2020 at a compound annual growth rate (CAGR) of 35.8%. The growth is mainly due to the COVID-19 outbreak and the surge in demand for hospitals supplies including personal protective equipment, surgical supplies, sterilization equipment, disinfectants and hospital beds, among others. With the increasing number of cases, hospitals are flooded with COVID-19 positive patients. In order to meet demand and address the supply shortage concerns, most of the hospitals have also suspended the non-urgent medical procedures. The market is then expected to grow at a CAGR of 3.8% from 2021 and reach $11.7 billion in 2023. The operating room equipment market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for operating room equipment and is expected to continue to be the largest market during the forecast period. The operating room (OR) equipment market is driven globally by the increase in ambulatory surgical centers (ASCs) across the world. All ASCs require an operating room (OR) to undertake the surgeries; therefore the growing number of ASCs all over the world is a key factor facilitating growth of the market for OR equipment. The high cost associated with the operating room equipment will restrain the operating room equipment market growth. Hospital costs are important to understanding value-based care, and are even more critical when analyzing cost-saving interventions during surgery. The costs associated with the operating room equipment depends on the country, the surgical procedure and the equipment used for the surgical procedure. In a 2011 study, it was observed that on an average, hospital stays in the US that involve an OR procedure have been reported to be 2.5 times more costly than stays that do not involve an OR procedure. The hybrid operating room is a new trend being observed in the global operating room market. A hybrid operating room is an alternative to conventional operating room equipped with advanced medical imaging systems and devices which support high quality interventional imaging and minimally invasive surgeries. It has complex environment in which numerous surgeons, nurses, anesthesiologists, and technicians work together. Hybrid operating rooms in healthcare facilities has increased globally. Since they offer a sterile operating room environment, surgeons can perform surgeries with ease. The ability of these operating rooms to reduce the total healthcare expenditure, enhance patient safety, and minimize the time taken to perform surgeries will lead to its increased popularity in the fields of neurosurgery, cardiology, and orthopedics. In December 2018, Medtronic`s subsidiary, Restorative Therapies Group, acquired Mazor Robotics (Mazor), a pioneer in the field of robotic guidance systems. The acquisition of Mazor strengthens the company`s position as a global leader in enabling technologies for spine surgery. The company offers a fully-integrated procedural solution for surgical planning, execution and confirmation by combining the company`s spine implants, navigation, and intra-operative imaging technology with Mazor`s robotic-assisted surgery systems. Total consideration for the transaction, net of cash acquired, was $1.6 billion, consisting of $1.3 billion of cash and $246 million of a previously-held equity investment in Mazor.