The global diabetes devices market revenue is expected to expand at a moderate CAGR over the forecast period. Increasing adoption of technologically advanced products for monitoring and controlling diabetes among individuals is a key factor expected to drive growth of the global market over the forecast period.
The global diabetes devices market report has been segmented on the basis of product type, distribution channel, and region. On the basis of product type, the target market is segmented into monitoring and diagnostic devices and insulin delivery devices. The monitoring and diagnostic devices product type segment is further sub-segmented into lancets, analog glucose meter, continuous glucose monitors (CGM), and glucose test strips. The glucose test strip sub-segment is expected to register significant share in terms of revenue over the forecast period, owing to increasing adoption of this product type for home monitoring devices. The insulin delivery devices product type segment is further sub-segmented into insulin syringes, insulin pens, and insulin pumps. On the basis of distribution channel, the target market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and diabetes clinics/ centers.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to technological advancements, availability of innovative products, and increasing government investments in research and development activities in various countries in this region. The market in Asia Pacific is expected to register significant growth in terms of revenue, owing to increasing diabetic patient pool, increasing adoption of health monitoring devices, and availability of home care diabetes devices in various countries such as India, China, and Japan in this region.
Key players operating in the global diabetes devices market include Medtronic plc, Arkray, Inc., Echo Therapeutics, Inc., Sanofi SA, Bayer HealthCare AG, Becton, Dickinson and Company, Novo Nordisk A/S, Abbott Laboratories, F. Hoffmann-La Roche Ltd., and Johnson & Johnson.