According to World Health Organization (or WHO), a medical device is defined as “instrument, apparatus or machine that is used in the prevention, diagnosis or treatment of illness or disease, for detecting, measuring, restoring, correcting or modifying the structure or function of the body for health purpose”. Due to increasing awareness regarding diabetic care, there has been revolution in diabetic device which lead to innovation in product and service such as telehealth, smart device etc. which is useful for managing the blood sugar level in diabetic patients.
Increasing research and development on diabetes coupled with growing number of collaborations and funding by various market players are the drivers for the growth of diabetes care device market. In addition, increasing demand for minimal non-invasive products, growing number of in-home diagnosis, emerging new non-medical applications and increasing awareness about early detection and prevention of diabetes are expected to propel growth of diabetes care device market. Excessive cost of diabetes care devices is the factor hindering the demand for global diabetic care device market. Diabetes device are the medical diagnostic device used for managing blood glucose level in patients.
In dietetic care device industry, various players and government agencies are focusing on collaborating and offering programs to support and funding projects for healthier lifestyle of diabetic patients. Medical advancements with help of IT creates a new generation of device for diabetic patient to give users a more accurate and reliable result with ease of handling.
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The global diabetes care device market is segmented on the basis of product type, end user verticals and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America dominates global diabetic care device market owing to reason of increasing incidence of diabetes. The market in Asia Pacific is anticipated to be fastest growing region due to increasing the prevalence of diabetes especially in countries such as India and China.
Prominent player in global diabetes care device market are, Roche Diagnostics Ltd., Johnson and Johnson, Bayer AG, Abbott Laboratories, Medtronic plc, Becton, Dickinson and Company, Dexcom Inc., Acon Laboratories, Inc., Novo Nordisk A/S and Arkray Inc.