TheBusinessResearchCompany’s Diabetes Care Devices Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The diabetes care devices (or) equipment 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.
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The market for diabetes care devices reached a value of nearly $28.9 billion in 2018, having grown at 6.5% since 2014.
Growth in the historic period resulted from increasing diabetes prevalence and economic growth. Factors that negatively affected growth in the historic period were lack of awareness, low healthcare access and preference for oral treatment.
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The present study exhibits the trends and market dynamics of the Diabetes Care Devices market in major countries – USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world. The report also includes the study of the current issues with consumers and various future opportunities for the market.
Opportunities – The diabetes care devices market size will gain the most in the USA at $ 4,131.1 million. Market-trend-based strategies for the diabetes care devices market include the adoption of new technologies such as shift in traditional insulin syringe, innovation of new wearable devices and mobile applications, intelligent glucose meters, connected digital diabetes apps, data analytics and AI-based services and increased use of artificial pancreas systems are some of the major innovations striving the diabetes care devices market.
Recommendations – To take advantage of the opportunities, The Business Research Company recommends the diabetes care devices companies to consider focusing on new product approvals and product launches, strategic partnerships and expanding in emerging markets, among other strategies.
Some of the major players involved in the Diabetes Care Devices market are Medtronic plc, Roche Holding AG, Johnson & Johnson (J&J), Sanofi, Becton, Dickinson and Company.
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