Diabetes Care Devices market is Set to Grow with a CAGR of 6.1% and will be reach US$ 39,382.3 Million by 2027 Due to Growing geriatric population

The market is estimated to grow with a CAGR of 6.1% from 2019-2027. The report highlights the trends prevalent in the global diabetes care devices market and the factors driving the market along with those that act as deterrents to its growth.

Key factors driving the market are, rising incidence of diabetes, growing geriatric population, increasing prevalence of obesity across the globe, and rapid technological advancement in diabetes care devices. However, the restraining factors for the market are high cost of diabetes care devices and risks associated with the insulin delivery devices.

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The diabetes care devices market by product is segmented into glucose monitoring devices and insulin delivery devices. In 2018, the glucose monitoring devices segment held a largest market share of 54.1% of the diabetes care devices market, by product. This segment is also expected to dominate the market in 2027 owing to rise in the prevalence of the diabetes and presence of the several market players that offers technically advanced products. Moreover, the glucose monitoring devices segment is also anticipated to witness the fastest growth rate of 6.4% during the forecast period, 2019 to 2027 owing to the rising demand for the glucose monitoring devices.

Some of the prominent players operating in diabetes care devices market are, BD, Novo Nordisk A/S, B. Braun Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc., Eli Lilly and Company, Dexcom, Inc., Terumo Corporation, F. Hoffman-LA Roche Ltd. The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in February 2019, Tandem Diabetes Care, Inc. announced that the U.S. Food and Drug Administration (FDA) has classified the t:slim X2 insulin pump as the first in a new device category called Alternate Controller Enabled Infusion Pumps (ACE pumps).

Key Elements that the report acknowledges:

- Market size and growth rate during forecast period.

- Key factors driving the “Compound Management” market.

- Key market trends cracking up the growth of the “Compound Management” market.

- Challenges to market growth.

- Key vendors of “Compound Management” market.

- Detailed SWOT analysis.

- Opportunities and threats faces by the existing vendors in Global “Compound Management” market.

- Trending factors influencing the market in the geographical regions.

- Strategic initiatives focusing the leading vendors.

- PEST analysis of the market in the five major regions.

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Posted by on Thursday December 05 2019, 1:59 PM EDT. All trademarks acknowledged. Filed under Biotechnology, Diagnostics, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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