DUBLIN--(BUSINESS WIRE)--The "U.S. Next Generation Diabetes Therapy and Drug Delivery Market by Product Type, Demographic, Indication, and End User - U.S. Opportunity Analysis and Industry Forecast, 2014-2023" report has been added to ResearchAndMarkets.com's offering.
The U.S. next generation diabetes therapy and drug delivery market accounted for $446 million in 2015, and is estimated to reach $6,510 million by 2023, registering a CAGR of 33% from 2017 to 2023.
The market is expected to witness an exponential growth during the forecast period due to the benefits of using these advanced devices over conventional products and rise in the healthcare expenditure. Moreover, the availability of high disposable income and technological advancement of next generation diabetic products help fuel the market growth. However, cost restraints among the low and middle income population and less variability in products are expected to hinder the growth.
As compared to other diabetic products, CGM system is a well-established market and dominates the next generation diabetes therapy and drug delivery market. This is attributed to the presence of a large patient base suffering from diabetes and advantages of using these systems as compared to conventional diabetic products such as ease of usage, and efficient and early detection of change in blood glucose levels.
Among the end-users, diagnostics/clinics is the largest contributor toward the market and is anticipated to continue its dominance during the analysis period. This is due to the increase in procurement of the products from diagnostics and clinics by diabetic patients.
Depending on demographics, the market is bifurcated into adult and child population. Adult population is the dominant segment that contributes toward the market growth as almost 90% of the diabetic population in the U.S. is above the age of 18 years.
- Abbott Laboratories
- Dexcom, Inc.
- Echo Therapeutics, Inc.
- F. Hoffmann-La Roche Ltd.
- Glysens Incorporated
- Mannkind Corporation
- Medtronic Plc.
- Novo Nordisk A/S
- Senseonics Holdings, Inc.
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