NEW YORK (GBI Research), 2 August 2012 - Glucose monitoring devices sector is dominating the global diabetes care devices market, and will continue to be so in the future thanks to a lion’s share of the device pipeline, expects medical industry experts GBI Research.
According to the business intelligence providers latest report*, the glucose monitoring devices portion represented $9.7 billion of a 2011 global diabetes care devices market valued at $17.7 billion.
GBI Research expects this sector to climb at a Compound Annual Growth Rate (CAGR) of 4.7% to a value of $13.3 billion by the end of 2018, thanks in part to the expected adoption of more technologically advanced devices.
The worldwide number of diabetes sufferers is expanding due to aging populations, growing urbanization and increasingly sedentary lifestyles. Correspondingly, the demand for innovative, non-invasive and user-friendly diabetes care devices is on the rise.
Glucose monitoring products account for 61% of the total pipeline products in the diabetes market, with many devices employing the latest technologies to offer more accurate, more efficacious and more user-friendly devices than those currently available.
Products expected to make a splash in this sector include the C8 MediSensors Optical Glucose Monitor, NBM-200G, Easy Check Breath Glucose and EyeSense Blood Glucose Measurement Device – products which utilize a patient’s sweat, exhaled breath or a fluorescent eye signal to measure blood glucose levels.
The 2011 global diabetes care devices market comprised of glucose monitoring and insulin delivery segments. The insulin delivery devices market was valued at $8.1 billion in 2011, and is forecast to grow at a CAGR of 5.9% to reach revenue of $12 billion in 2018.
* Diabetes Care Devices Market to 2018 - Integrated Insulin Pumps with Continuous Glucose Monitoring Technology to Add a New Dimension to Diabetes Management
This report provides key data, information and analysis on the global diabetes care devices market.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research’s team of industry experts.
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