Diabetes Care Devices Market Characteristics
The diabetes care devices 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 blood glucose levels in diabetic patients. This industry includes establishments that produce blood glucose test strips used to check blood glucose levels, insulin pens, syringes, pumps and injectors used to inject insulin, continuous glucose monitoring devices, blood glucose meters and others.
Competitive Landscape of the Diabetes Care Devices Market
Major players in the global diabetes care devices market include Roche, Medtronic, J&J, Abbott, Becton, and Dickinson and Company.
Diabetes Care Devices Market Size
The diabetes care devices market size is expected to reach nearly $35 billion in 2021 at a compound annual growth rate (CAGR) of slightly more than 7% during the forecast period. The growth in the diabetes care devices market is due to increased government initiatives to help raise awareness of diabetes and adoption of advacned technologies.
However, the market for diabetes care devices is expected to face certain restraints from several factors such as the availability of alternative treatments and stringent government regulations.
Diabetes Care Devices Market Segmentation
The global cement and concrete product manufacturing market is further segmented based on type and geography.
By Type Of Dental Service - The diabetes care devices market is segmented into blood glucose test strips, insulin pens, syringes, pumps and injectors, lancing devices, continuous glucose monitoring devices and blood glucose meters. Among these segments, the insulin pens, syringes, pumps and injectors market accounts for the largest share in the global diabetes care devices market.
By Geography - The global diabetes care devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American diabetes care devices market accounts for the largest share in the global diabetes care devices market.
Trends in the Diabetes Care Devices Market
Shift in traditional insulin syringe, artificial pancreas, wearable and mobile glucose monitoring systems, and intelligent glucose meters are the major trends witnessed in the global diabetes care devices market.
Potential Opportunities in the Diabetes Care Devices Market
With increase in disease burden and rising R&D investments and research collaborations, the scope and potential for the global diabetes care devices market is expected to significantly rise in the forecast period.