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Market Size – USD 20,302 Million in 2020, Market Growth – at a CAGR of 8.3%, Market Trends – Increasing number of diabetic patients worldwide
VANCOUVER, BC, CANADA, June 30, 2022 /EINPresswire.com/ -- The Global Diabetes Care Market size reached USD 20,302 Million in 2020 and is expected to register a revenue CAGR of 8.3% during the forecast period, according to latest analysis by Emergen Research. Global Diabetes Care Market revenue growth is expected to be driven by key factors such as increasing prevalence of diabetes worldwide, rising awareness regarding benefits of diabetes treatment and management, and favorable government initiatives in various countries. In addition, technological advancements in medical devices and solutions, and rising prevalence of obesity are factors driving revenue growth of the market. However, significant shortage of trained professional worldwide and challenges related to management of diabetes, including a lack of general awareness about diabetes and its complications among a sizable number of younger individuals, especially in remote areas are key factors expected to restrain revenue growth of the Global Diabetes Care Market to some extent.
The Global Diabetes Care Marketplace Report offers wide-ranging information and facts about the Diabetes Care market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global Diabetes Care market further validated and verified by the industry experts and professionals. The Global Diabetes Care Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Diabetes Care market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
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Some Key Highlights from the Report Based on device type, the market is segmented into blood glucose monitoring devices and insulin delivery devices (pumps, pens, syringes, and jet injectors). Blood glucose monitoring devices segment is further sub-segmented into self-monitoring devices (blood glucose meters, testing strips, and lancets) and continuous glucose monitoring devices (sensors, transmitters and receivers). The blood glucose monitoring devices segment accounted for largest share in 2020 and the trend is expected to continue over the forecast period.
On the basis of distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated other distribution segments in the global market and accounted for the largest revenue share in 2020 owing to high demand and availability of diabetic care products. The two types of pharmacies operating within a hospital campus are inpatient pharmacy and outpatient pharmacy, and footfalls to hospitals is relatively high for diabetes.
Based on end-use, the global market is segmented into hospitals & clinics, home care settings, and diagnostic centers. The hospitals & clinics segment dominated other segments and accounted for largest revenue share in 2020. An increasing number of hospital admissions of diabetes patients is boosting growth of this segment.
North America is expected to register a steady growth rate in the Global Diabetes Care Market over the forecast period. This is due to increasing prevalence of diabetes and obesity among the aging population as well as younger individuals, and changing lifestyle.
In May 2021, Medtronic announced that it had received a CE mark for its InPen smart insulin pen and Guardian 4 sensor for better diabetes management.
Leading Companies of the Diabetes Care Industry and Profiled in the Report are:
Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc. (US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo Corporation, Ypsomed (Switzerland), Dr. Morepen (India), Insulet, Life Scan IP holdings, and Eli Lilly and Company
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Diabetes Care market expected to boost the growth of the industry in the coming years.
Emergen Research has segmented Global Diabetes Care Market on the basis of device type, distribution type, end-use, and region:
Device Type Outlook (Revenue, USD Million; 2018–2028) Blood Glucose Monitoring
By Distribution Channel Outlook (Revenue, USD Million; 2018–2028) Hospital Pharmacies
End-use Outlook (Revenue, USD Million; 2018–2028) Hospitals & Clinics
The report sheds light on the region expected to dominate the Diabetes Care market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Diabetes Care market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Questions Answered in the Report:
What is the growth rate of the Diabetes Care market? What is the anticipated market valuation of Diabetes Care industry by 2028?
What are the key growth driving and restraining factors of the Diabetes Care market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Diabetes Care industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee Emergen Research +91 90210 91709 sales@emergenresearch.com Visit us on social media: Facebook Twitter LinkedIn
Diabetes Care Market Size Worth USD 38,740 Million in 2028
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