The Business Research Company’s Diabetes Care Devices Global Market Report 2021: COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, September 8, 2021 /EINPresswire.com/ — According to the new market research report ‘Diabetes Care Devices Global Market Report 2021: COVID-19 Implications And Growth’ published by The Business Research Company, the diabetes care devices market is expected to grow from $39.51 billion in 2020 to $41.84 billion in 2021 at a compound annual growth rate (CAGR) of 5.9%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $54.31 billion in 2025 at a CAGR of 7%. Long working hours, limited physical activity, and unhealthy eating and drinking habits are major causes of diabetes. These factors are expected to aid the market growth in the forecast period.
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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 and control blood glucose levels in diabetic patients.
Trends In The Global Diabetes Care Devices Market
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 example, Novo Nordisk, a Danish pharmaceutical company, has planned to develop GRIs by acquiring UK biotech start-up Ziylo with an investment of $800 million. GRIs are ‘smart’ insulins which 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.
Global Diabetes Care Devices Market Segments:
The global diabetes care devices market is further segmented based on type, end user, type of expenditure, product and geography.
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
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others
By Type of Expenditure: Public, Private
By Product: Instruments/Equipment, Disposables
Subsegments Covered: Glucose Dehydrogenase, Glucose Oxidase, Pens, Injectors And Pumps, Syringes
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.
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Diabetes Care Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides diabetes care devices global market overviews, analyzes and forecasts market size and growth for the global diabetes care devices market, diabetes care devices market share, diabetes care devices market players, diabetes care devices market segments and geographies, diabetes care devices market’s leading competitors’ revenues, profiles and market shares. The diabetes care devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Diabetes Care Devices Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Diabetes Care Devices Market Organizations Covered: Roche, Medtronic, J&J, Abbott, Becton, Dickinson and Company.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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