The growing number of people who have diabetes due to sedentary and erratic lifestyles along with unhealthy diet habits will augment demand for diabetes care devices, which help in monitoring levels of glucose in the blood.
The growing number of people who have diabetes due to sedentary and erratic lifestyles along with unhealthy diet habits will augment demand for diabetes care devices, which help in monitoring levels of glucose in the blood. According to the Diabetes Research and Clinical Practice of the International Diabetes Federation (IDF), the number of diabetic patients globally was expected to rise to 578 million by 2030 from 463 million in 2019.
Various initiatives undertaken by international organizations such as the World Health Organization (WHO) and the IDF to create awareness about diabetes care solutions and control the rising occurrence of diabetes will positively influence business expansion. Reportedly, global diabetes care devices market size is projected to surpass US$41.5 billion by 2025. Explained below are some factors driving market outlook.
Changing lifestyles and rising occurrence of obesity worldwide
The escalating trend of consuming unhealthy products as well as alcohol abuse and tobacco smoking has resulted in an increased number of obese people globally. As per WHO, the ratio of obese adults was 39% in 2016. Obesity is considered as one of the prime reasons for diabetes across the globe.
These trends along with technology and quality upgradation in diabetes control systems have fueled their adoption among consumers. Leading companies constituting global diabetes care devices market including Abbott Laboratories, Roche, Bayer Corporation, and B. Braun Melsungen AG among others, are emphasizing on developing systems that are highly efficient and easy-to-use.
Contrastingly, the lack of device reimbursement and insurance coverage policies and low spending capabilities on diabetes management systems could hamper market expansion to a certain extent in the coming years.
Increasing access of diabetes care devices across hospitals
The hospital end-use segment of the diabetes care market is majorly driven by the availability of portable insulin pumps and self-monitoring blood glucose devices in hospital facilities. Conditions associated with abnormal glucose levels such as hyperglycemia and hypoglycemia are observed in ICU patients and require continuous monitoring of blood glucose levels.
The insulin delivery devices market share is projected to exceed US$16.5 billion by 2025. Minimally invasive insulin delivery devices prevent complications and injuries caused by invasive devices. Higher demand and technological advancements will lead to exponential business growth in the insulin delivery devices industry.
To access sample pages of this report titled, “Diabetes Care Devices Market Size By Product (Blood Glucose Monitoring Devices {Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets}, Insulin Delivery Devices {Insulin Pumps [Tubed Pumps, Tubeless Pumps], Pen [Reusable, Disposable], Pen Needles [Standard, Safety], Syringes}), By End-Use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers, Home Care) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3250
Increasing healthcare expenditure globally
The demand for diabetes monitoring and management solutions across Germany will be driven by the growing adoption of the technology, increasing healthcare expenditure, and the surging number of people affected by diabetes in the region. Notably, Germany accounted for more than 25% revenue share of Europe diabetes care devices market in 2018 and will experience notable growth by 2025.
India market will rise considerably at an 8.7% CAGR up to 2025. As per a report published in The Lancet Journal, the number of diabetic patients in India will hit nearly 98 million by 2030. Rising geriatric population base vulnerable to numerous severe conditions, rapid urbanization, escalating trend of consuming unhealthy diet including fast food, and rising healthcare investments will provide a sustained demand for diabetes care devices in the region.
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