Diabetes Care Devices Market Valued at USD 4.3 billion by 2025
The Diabetes Care Devices (BRIC) Market size is projected to reach USD 4.3 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 16.2% during the forecast period. Factors such as the increasing diabetic population, the rising awareness of diabetes treatment and management, and favorable national health strategies are expected to drive the growth of the diabetes care devices (BRIC) market.
Key Market Players:
Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc.
(US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Ascensia Diabetes
Care Holdings AS (Switzerland), LifeScan (US), AgaMatrix Holdings LLC (US),
Acon Laboratories, Inc. (US), ARKRAY USA, Inc. (US), Novo Nordisk A/S
(Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo
Corporation (Japan), SD Biosensor, Inc. (South Korea), MicroGene Diagnostic
Systems Pvt. Ltd. (India), Ypsomed (Switzerland), Dr. Morepen (India),
Sinocare, Inc. (China), Bionime Corporation (Taiwan), and Rossmax International
Ltd. (Taiwan).
The diabetes management mobile applications segment is
projected to grow at the highest CAGR during the forecast period
Within the type segment, the market is segmented into blood
glucose monitoring systems, insulin delivery devices, and diabetes management
mobile applications. The diabetes management mobile applications segment is
projected to grow at the highest rate during the forecast period, driven by its
convenience, simplicity of use, and utility in providing real-time insights
regarding diabetic conditions to patients and healthcare professionals for
integrated diabetes management.
China held the largest share in the diabetes care devices
(BRIC) market.
China held the largest share in the diabetes care devices
(BRIC) market in 2019. This dominance is due to the high population of
diabetics in the country and increasing government funding for diabetes
management and the diabetes care devices industry. India is expected to
register the fastest growth during the forecast period, primarily due to
opportunities presented by the country, especially in terms of the growing
usage of mHealth (mobile health), which supports the diabetes management mobile
applications segment.
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The research report categorizes the market into the
following segments and subsegments:
By Type
·
Blood glucose monitoring systems
·
Self-monitoring blood glucose monitoring systems
·
Continuous glucose monitoring systems
·
Test strips/Test papers
·
Lancets/Lancing devices
·
Insulin delivery devices
·
Insulin pumps
·
Insulin pens
·
Insulin syringes and needles
By End User
·
Hospitals & specialty clinics
·
Self & home care
Recent Developments
·
In February 2020, Abbott (US) received US FDA
approval for the use of FreeStyle Libre 14-day Flash glucose monitoring systems
in hospitals.
·
In February 2020, Insulet signed a
commercialization agreement with DexCom, Inc. (US) to allow its current and
future CGM systems to connect to the former’s
tubeless insulin pump system, OMNIPOD Horizon system.
·
In April 2020, Ypsomed (Switzerland) entered
into a partnership with DexCom, Inc. (US) to integrate its mylife YpsoPump data
with DexCom’s G6 CGM sensors to form a hybrid
closed-loop system.
·
In January 2020, LifeScan (US) entered into a
partnership agreement with DKSH to provide marketing, sales, regulatory
services, as well as distribution and logistics for the sales of LifeScan
products in the Philippines, Vietnam, Malaysia, Indonesia, Thailand, Hong Kong,
and Taiwan.
·
In December 2019, Eli Lilly and Company (US)
announced a global commercialization agreement to integrate DexCom, Inc.’s products into Lilly's personalized diabetes management
system, currently in development, to advance the treatment of diabetes.
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