Diabetes Diagnostics Market to Experience Significant Growth by 2030
Wilmington, Delaware, United States: Presently, a number of health problems related to stomach such as ulcer, liver (jaundice), intestinal pain and cancer, and skin related problems are rising rapidly. Diabetes is also one of the common problems among individuals, generally elderly people, caused due to inadequate insulin production by pancreas. The two types of diabetes are diabetes insipidus and diabetes mellitus.
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Diabetes mellitus which is caused by inability of the use of glucose by body leading to excess levels of glucose in body, on the contrary patients with diabetes insipidus have normal levels of glucose in body but their kidneys are not able to balance the fluids levels present in their body. Increased consumption of water, frequent urination, blurry vision, and fatigue are the common symptoms observed in patients suffering from diabetes. Delayed treatment of diabetes can lead to other chronic health-related problems such as cardiovascular diseases (CVDs), renal, nerve and neural damage, and sometimes kidney failure in serious conditions leading to fatality.
A number of treatment options are available such as injecting insulin to patients at regular intervals, leading a disciplined lifestyle, and molecular approaches such gene therapy. A number of anti-diabetes medicines along with continuous blood glucose monitoring is used to detect the disorder and monitor its effects in the body.
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Key Drivers and Restraints of Global Diabetes Diagnostics Market
- Rise in the number of patients suffering from diabetes and its prevalence among people and improper lifestyle often called sedentary lifestyle led by a majority of the population along with unhealthy dietary habits are the key factors boosting the growth of the global diabetes diagnostics market. Additionally, technological advancements such as development of low-cost and non-invasive insulin delivery systems and minimal invasive surgery (MIS) procedures, wearable devices, and digital diabetes management platforms fuel the growth of the global diabetes diagnostic market.
- Furthermore, rise in awareness about the symptoms and severe side effects of diabetes has led to an increase in usage of diabetes diagnosis and drug treatment solutions. Continuous improvement in health care infrastructure and research & development (R&D) activities contribute to the growth of the global diabetes diagnostics market.
- Lack of trained health care professionals, limited access to health care facilities to people, lack of awareness & information among people are expected to hamper the growth of the global diabetes diagnostics market in the next few years.
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Blood Glucose Monitoring Devices Segment to Dominate Global Market
- In terms of product, the global diabetes diagnostics market can be classified into blood glucose monitoring (BGM) devices and insulin delivery devices
- The BGM devices segment can be bifurcated into continuous glucose monitoring devices and self-monitoring devices. The self-monitoring devices sub-segment can be split into blood glucose meters, testing strips, and lancets. The continuous glucose monitoring devices sub-segment can be segregated into sensors, transmitters, and receivers.
- The BGM devices segment is likely to dominate the global market in the next few years because of the presence of major portion of glucose in blood and easy availability of glucose from blood via different means such as injection and surgery.
Hospitals Segment to Witness Highest Growth
- Based on End user, the global diabetes diagnostics market can be divided into hospitals, clinics, home health care, diagnostic centers, and others
- The hospitals segment dominated the global diabetes diagnostics market in 2019 due to marked percentage (%) increase in number of cases coming to hospitals & clinics and rise in sedentary lifestyle of people that promotes the increase in health related problems, especially diabetes.
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North America to Dominate Global Diabetes Diagnostics Market
- In terms of region, the global diabetes diagnostics market can be segment into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounted for the largest share of the global diabetes diagnostics market in 2019, followed by Europe. Surge in the number of diabetes cases, rise in prevalence of diabetes, technology advancements, increase in government funding for R&D, and large corporates making significant investments in diabetes diagnostics are attributed to North America’s large market share.
Key Manufacturers Operating in Global Diabetes Diagnostics Market
Key manufacturers operating in the global diabetes diagnostics market are:
- Fresenius Medical Care AG & Co.
- Senseonics Holdings
- Abbott Laboratories
- San Meditech
- GlySens Incorporated
- Nemaura Medical
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