DUBLIN--(BUSINESS WIRE)--The "Diabetes Care Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The global diabetes care market is estimated to grow at a CAGR of 5.53% during the forecast period to reach a market size of US$95.102 billion by 2023 from a market size of US$68.38 billion in 2017.
Rapidly changing lifestyle in many regions across the globe is a major factor driving the growth of this market. Unhealthy lifestyle is increasing the incidences and threat of diabetes among the people, thus increasing the demand for diabetes care solutions. Rising disposable income of people is increasing the adoption of these solutions among them.
Continuous advancements in technologies, on account of heavy investments being funneled into research and development by major market players, are enhancing the capabilities and reliability of the diabetes care solutions, which is further fueling their adoption, thus augmenting the market growth.
Diabetes care devices are manufactured with an aim to help the patient in the management or monitoring of blood sugar levels due to inadequate insulin production or insulin resistance. Devices such as glucose monitoring device and insulin delivery device are instruments used for diabetes care. The diabetes care market is predominantly driven by rising number of diabetic cases across the globe, improved research and development activities on diabetes in combination with increasing collaborations and investment by various market players.
Moreover, factors like innovative technologies used for diabetic care devices, improper diet or erratic lifestyle and increasing need for faster and safer diagnosis and treatment of diabetes drive this market globally. Increased knowledge about this disease, wide scope of penetration in untapped and emerging markets also contribute towards the market growth. However, factors like high price charged with diagnosis and treatment of diabetes, low awareness regarding reimbursement issues and patent expiry and a stringent framework which controls the diabetic procedures act as impediments to the market growth.
Major industry players profiled as part of the report are Roche Products Limited, Johnson & Johnson Services, Inc., Sanofi-Deutschland GmbH, Novo Nordisk A/S, Ypsomed AG, Ascensia Diabetes Care Holdings AG, Medtronic, Dexcom, Inc. and ARKRAY USA, Inc. among others.
- Blood Glucose Meters and Strips
- Continuous Glucose Monitors (CGMs)
- Flash Glucose Monitoring Device
- Injection Pens
- Insulin Pumps
- Automated Insulin Delivery Systems
- Ambulatory Care Units
- Roche Products Limited
- Johnson & Johnson Services, Inc.
- Sanofi-Deutschland GmbH
- Novo Nordisk A/S
- Ypsomed AG
- Ascensia Diabetes Care Holdings AG
- Dexcom, Inc.
- ARKRAY USA, Inc.
- Terumo Europe NV
- ACON Laboratories, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/g25t32/diabetes_care?w=4