The Global Market for Diabetes Diagnostics Devices and Systems is Forecast to Reach US$14 Billion by 2022

Growing Global Burden of Diabetes and Rising Awareness Among High-Risk Populations Drive Demand for Diabetes Diagnostics Devices and Systems, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Diabetes Diagnostics market. The global market for Diabetes Diagnostics Devices and Systems is forecast to reach US$14 billion by 2022, driven by the growing incidence of diabetes in parallel to obesity and the ensuing rise of “diabesity” as a global epidemic; the acute need for easier, efficient and cost effective management of the disease; improving ease-of-use and accuracy of devices; and development of non-invasive techniques to simplify regular glucose testing.

Diabetes is emerging as one of the largest health emergencies of the modern world, with diabetes prevalence reaching epidemic proportions the world over. As per the statistics provided by the International Diabetes Federation (IDF), an estimated 415 million people, representing about 8.8% of adults across the globe had Type 1 diabetes in 2015. Led by an aging population and changing lifestyles of people, the number of diabetics is forecast to reach 642 million by the year 2040. The spread of the disease at epidemic proportions is driving the requirement for pre-diabetics testing and post-prandial glucose-level monitoring. Several million cases of Type II diabetes go undiagnosed all over the world, and millions more hereditarily or otherwise are likely to be afflicted with diabetes. With increasing levels of patient education on possible ways of preventing and delaying the onset of Type II diabetes, more and more pre-diabetics are expected to start testing blood glucose. Added to this, patients undergoing tests on account of complications arising from undiagnosed condition, such as heart attacks, are likely to spur market potential. With diabetes patients becoming increasingly aware that high post-prandial blood glucose levels lead to glycosylation of hemoglobin and other proteins, subsequently triggering complications such as neuropathy, retinopathy, and cardiovascular diseases, the propensity of increased post-prandial testing will continue to fuel demand for diabetes diagnostics devices and systems.

Future growth in the market is expected to be fuelled by the sizeable pool of diabetic patients as well as fast increase in the uptake of advanced, minimally invasive or non-invasive products such as Integrated CGM (Continuous Glucose Monitoring) Systems and HbA1C testing devices. Unlike conventional glucose meters designed to measure glucose in blood, continuous glucose monitoring systems (CGMS) leverage the wireless technology to transmit readings captured from interstitial fluids between a person’s skin cells, while point-of-care (POC) HbA1c tests effectively gives an indication into the average blood glucose levels over the past two-to-three month period. In addition, rising awareness; enhanced diagnosis as well as treatment rates; and increasing demand for more effective, precise, safe and cost-efficient diabetes therapies are expected to increase market adoption. Increasing obesity levels globally coupled with growing requirements of aging patients at both facility-based geriatric care as well as home-based managed care facilities is also expected to drive demand for various diabetes diagnostic devices and systems. Technology advancements in diabetes diagnostics that are poised to benefit market prospects in the near term include mHealth Solutions for diabetes diagnosis; wearable glucose testing devices; implantable continuous glucose monitor; and cloud-enabled CGM devices, among others.

As stated by the new market research report on Diabetes Diagnostics, the United States represents the largest market worldwide, followed by Europe. Asia-Pacific represents the fastest growing market with a CAGR of 9.5% over the analysis period led by grim risk population analysis attributable to rapid urbanization, growing affluence and nutrition transition, less physically demanding lifestyles, high prevalence of smoking, alcohol abuse, heavy consumption of refined carbohydrates, lack of exercise and over nutrition. India and China represent the epicenter of the diabetes epidemic with both the countries recording the highest number of diabetes in the year 2015.

Key players covered in the report include Abbott Diabetes Care, Inc., AgaMatrix, Inc., Alere Inc., ARKRAY, Inc., Ascensia Diabetes Care Holdings AG, A.Menarini Diagnostics Ltd., B. Braun Melsungen AG, Becton, Dickinson and Company, Bayer Healthcare Diabetes Care, Beckman Coulter, Inc., Bio-Rad Laboratories, Dexcom, Inc., LifeScan, Inc., Medtronic MiniMed, Inc., Roche Diagnostics, Sanofi S.A., Siemens Healthineers, Terumo Corporation, Tosoh Bioscience, Inc., Trinity Biotech plc, and Ypsomed AG, among others.

The research report titled “Diabetes Diagnostics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a  comprehensive review of market trends, growth drivers and challenges, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for major product categories including CGM Systems, HbA1c Testing Devices, and Blood Glucose Monitoring Devices. Geographic markets analyzed in the report include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America, and Rest of World.

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