Diabetes Care Market Size Worth USD 38,740 Million in 2028| Growth Analysis Report on Trends, Future Demand
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, BRITISH COLUMBIA, CANADA, June 8, 2023/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.
The diabetes care market refers to the industry and range of products and services aimed at managing and treating diabetes, a chronic condition characterized by high blood sugar levels. The market includes various medical devices, pharmaceuticals, monitoring systems, and healthcare services specifically designed to help individuals with diabetes control their blood sugar levels and prevent complications.
The diabetes care market has experienced significant growth over the years due to the increasing prevalence of diabetes worldwide. Factors such as sedentary lifestyles, unhealthy eating habits, and a rise in obesity contribute to the rising number of diabetes cases. As a result, there is a growing demand for innovative solutions that can help individuals with diabetes effectively manage their condition.
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Competitive Terrain:
The global Diabetic Care industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Sanofi, Eli Lilly and Company, Medtronic PLC, Ypsomed Holdings, Braun, Hoffman La Roche, Novo Nordisk, Insulet Corporation, Abbott Laboratories, Becton Dickinson, Life Scan Holdings LLC
Research Report on the Diabetic Care Market Addresses the Following Key Questions:
Who are the dominant players of the Diabetic Care market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Diabetic Care market?
What are the key growth drivers and restraining factors of the Diabetic Care market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Diabetic Care market and its key segments?
Market Overview:
The report bifurcates the Diabetic Care market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Device Type Outlook (Revenue, USD Million; 2018–2028)
Blood Glucose Monitoring
Self-Monitoring Devices
Blood Glucose Meters
Test Strips
Lancelets
Continuous Glucose Monitoring Devices
Sensors
Transmitters
Receivers
Insulin Delivery Devices
Pumps
Pens
Syringes
Jet Injectors
By Distribution Channel Outlook (Revenue, USD Million; 2018–2028)
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
End-user Outlook (Revenue, USD Million; 2018–2028)
Hospitals & Clinics
Homecare Settings
Diagnostic Centers
Regional Landscape section of the Diabetic Care report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key segments within the diabetes care market include:
Glucose Monitoring Devices: These devices are used to measure blood glucose levels. They can range from traditional fingerstick glucose meters to continuous glucose monitoring (CGM) systems that provide real-time glucose data.
Insulin Delivery Systems: Insulin is a hormone that helps regulate blood sugar levels, and various delivery systems are available to administer insulin to individuals with diabetes. These include insulin pens, insulin pumps, and insulin syringes.
Anti-Diabetic Drugs: Pharmaceutical companies develop and market medications to manage diabetes. These include oral medications such as metformin, sulfonylureas, and DPP-4 inhibitors, as well as injectable medications like insulin and GLP-1 receptor agonists.
Diabetes Management Software and Apps: With the increasing use of smartphones and wearable devices, there are software applications and mobile apps available to help individuals monitor their blood sugar levels, track their diet and exercise, and manage their medications.
Diabetic Foot Care Products: People with diabetes are prone to foot problems, and specialized products such as diabetic socks, foot creams, and orthotic footwear are available to prevent and manage foot complications.
Diabetes Education and Support Services: Diabetes care also involves education and support services that aim to empower individuals with diabetes to make informed decisions about their lifestyle, diet, exercise, and medication management. These services can include diabetes self-management education (DSME), nutritional counseling, and support groups.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Diabetic Care market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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