Diabetes Care Devices Market - Segmentation, Major Players & Geographical Analysis

According to the new market research report “Diabetes Care Devices Market by Type (SMBG, CGMS, Lancets, Insulin Pumps, Insulin Pens, Insulin Syringes, Mobile Apps), Patient Care Settings (Hospitals & Specialty Clinics, Self & Home Care), and Country (Brazil, Russia, India, China) – Forecast to 2025″, published by MarketsandMarkets™, the Diabetes Care Devices ((BRIC) Market size is projected to reach USD 4.3 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 16.2% during the forecast period.

Recent Developments:

• In February 2020, Abbott (US) received US FDA approval for the use of FreeStyle Libre 14-day Flash glucose monitoring systems in hospitals.
  
  
• In February 2020, Insulet signed a commercialization agreement with DexCom, Inc. (US) to allow its current and future CGM systems to connect to the former’s tubeless insulin pump system, OMNIPOD Horizon system.
  
  
• In April 2020, Ypsomed (Switzerland) entered into a partnership with DexCom, Inc. (US) to integrate its mylife YpsoPump data with DexCom’s G6 CGM sensors to form a hybrid closed-loop system.

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The Factors such as the increasing diabetic population, rising awareness of diabetes treatment and management, and favorable national health strategies are expected to drive the growth of the diabetes care devices (BRIC) market.

The blood glucose monitoring systems segment is estimated to dominate the diabetes care devices market in 2020

Based on type, the diabetes care devices (BRIC) market has been segmented into blood glucose monitoring systems, insulin delivery devices, and diabetes management mobile applications. Under the blood glucose monitoring systems segment, the test strips segment is estimated to account for the largest share in 2020. The dominance of this segment can be attributed to the frequent requirement of test strips in blood glucose monitoring systems.

Self/home healthcare is projected to witness the highest CAGR in the diabetes care devices (BRIC) market during the forecast period

Based on end user, the diabetes care devices market has been segmented into hospitals & specialty clinics and self/home healthcare. The self/home healthcare segment is estimated to hold the largest share in 2020. This segment is also projected to grow at the highest CAGR during the forecast period. The rapid growth of the segment is attributed to the increasing awareness of diabetes self-monitoring and management, increasing recommendations from physicians for home healthcare for diabetes, and the increasing utility of home-based diabetes care devices to provide real-time insights regarding the condition due to the technological advancements of these systems.

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China to hold the largest share in the market in 2020, followed by India

China is projected to hold the largest share in the diabetes care devices (BRIC) market during the forecast period. This can be attributed to the sharp increase in diabetes in the country, favorable national health strategies, and government-led endorsements of medical device companies.

The prominent players in the diabetes care devices market include Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc. (US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Ascensia Diabetes Care Holdings AS (Switzerland), LifeScan (US), AgaMatrix Holdings LLC (US), Acon Laboratories, Inc. (US), ARKRAY USA, Inc. (US), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo Corporation (Japan), SD Biosensor, Inc. (South Korea), MicroGene Diagnostic Systems Pvt. Ltd. (India), Ypsomed Holdings AG (Switzerland), Dr. Morepen (India), Sinocare, Inc. (China), Bionime Corporation (Taiwan), and Rossmax International Ltd. (Taiwan)

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Diabetes Care Devices Market 2018 Segments, Trends, Share and Forecast Growth

According to the new market research report “Diabetes Care Devices MarketIn Brazil, Russia, India & China (BRIC) by Product (Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets, Insulin Pumps, Insulin Pens, Insulin Syringes) — Forecast to 2020”, published by MarketsandMarkets™, analyzes and studies major market drivers, restraints, and opportunities in BRIC countries.

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The BRIC Diabetes Care Devices Market has witnessed major growth in the past few years, and is largely driven by the increasing number of diabetic patients across BRIC countries, growing research on diabetes, and increasing international research collaborations. The rising obese population and rapid industrialization and urbanization have also contributed to the growth of this market. However, high cost of diabetes care devices, disparity in reimbursement, availability of alternative treatments, and lack of awareness inhibit the growth of this market.

This report also covers major market drivers, restraints, opportunities, and challenges for the BRIC Diabetes Care Devices Market. This market is expected to reach USD 2.3 Billion by 2020 and is poised to grow at a CAGR of 6.3% during the forecast period.

Browse and in-depth TOC on “Diabetes Care Devices Market”

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The BRIC Diabetes Care Devices Market is segmented on the basis of type and country. By type, the market has been segmented into blood glucose monitoring devices and insulin delivery devices. Blood glucose monitoring devices are further classified into testing strips, self-monitoring blood glucose meters, lancets, continuous glucose monitors, and others. On the other hand, insulin drug delivery devices are subsegmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injectors.

In 2014, the testing strips segment accounted for the largest share of the blood glucose monitoring devices market; whereas, the insulin pens segment accounted for the largest share of the insulin delivery devices market. The large share of the insulin pens segment is mainly attributed to the high adoption rate of insulin pens in China and Russia.

Moreover, the increasing adoption of insulin pens and easy availability of recently launched affordable insulin pens in India have further contributed to the growth of this segment. Continuous blood glucose monitoring systems is the fastest-growing subsegment of the blood glucose monitoring devices market. Growth in this segment is mainly attributed to the rising adoption of continuous blood glucose monitoring systems by healthcare professionals to monitor real-time blood glucose levels for better management of diabetes.

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China is estimated to be the largest market for the BRIC Diabetes Care Devices Market, followed by Brazil, India, and Russia. India is expected to witness the highest growth rate during the forecast period, due to the increasing prevalence of diabetes, lifestyle changes, and growing research on diabetes and its management.

Some of the major players in this market include Becton, Dickinson and Company (U.S.), Roche Diagnostics Ltd. (Switzerland), Johnson and Johnson (U.S.), Bayer AG (Germany), Abbott Laboratories (U.S.), Acon Laboratories, Inc. (U.S.), Ypsomed AG (Switzerland), Novo Nordisk A/S (Denmark), Medtronic plc (Ireland), ARKRAY Inc. (Japan), Terumo Corporation (Japan), Dexcom, Inc. (U.S.), and Sanofi (France).

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