The Worldwide Prevalence Of Diabetes Is Driving Diabetes Care Devices Demand

The global diabetes care devices market is expected to exhibit at a staggering CAGR during the forecast period. Diabetes mellitus or diabetes is a prevailing disorder that potentially affects a person’s ability to produce insulin. People suffering with type 1 diabetes, women with gestational diabetes mellitus (GDM), and hypoglycemia unawareness are the potential candidates for this test. 

Sedentary lifestyle and urbanization are the two key factors driving the market growth. There are numerous threats associated with the disease. Its management also includes the management of glycemic control and monitoring of blood pressure. It has a high risk of macrovascular and microvascular complications associated with its severe forms. Governments are investing in the research & development activities to develop effective self-management systems, as it is considered as its cornerstone. This patient generated data helps them to cope up with behavioral issues, medication doses, preventing & treating chronic complications, managing psychosocial challenges, and problem-solving abilities.

The market has been segmented based on device type and end use/applications. The device type segment has been bifurcated into blood glucose monitoring devices and insulin delivery devices. The application-based categorization includes homecare/personal use, diagnostic center, and hospitals. People with type 1 diabetes adopt insulin as a life-long treatment. This helps them in monitoring the glycemic control, cholesterol, and blood pressure.

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Continuous glucose monitoring (CGM) or diabetes care devices systems fall into two categories. The “professional” or masked devices, which are known to provide patients the ability to monitor glucose without being able to see the result values until their provider allows them to download and review the results retrospectively during their clinical visit. The second is the personal systems that enables the patients to observe and review data in real-time from the comfort of their homes.

Geographically, the diabetes care devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market for the Asia Pacific region is booming at a fast pace due to the rising number of cases across the highly populated countries of India and China. The region has also witnessed significant number of R&D funding activities to reduce device costs and modernize the prevailing healthcare infrastructure. 

Some of the key players operating in the market consists of Novo Nordisk A/S; ACON Laboratories; Abbott Laboratories; Ascensia Diabetes Care Holdings; Dickinson and Company; Becton; Dexcom, Inc.; F. Hoffmann-La Roche; Medtronic plc; Johnson & Johnson; Terumo Corporation. Partnerships, collaborations, and mergers & acquisitions are the key strategies adopted by the industry players to expand their market presence. For instance, in September 2019, Novo Nordisk and Medtronic collaborated to develop smart insulin pens that can track their daily insulin injections.  In February 2020, Abbott and Insulet partnered to offer automated insulin delivery device to patients, which can be personalized according to their individual needs. The device has integrated Insulet’s Omnipod Horizon automated insulin delivery (AID) system and Abbott’s blood glucose sensing technology to provide a cutting-edge technology for self-administration of insulin.