The growth of the market is attributed to the growing technological advancements throughout the industry coupled with increasing approvals by regulatory bodies. Market Size – USD 22.70 Billion in 2019, Market Growth – CAGR of 7.9%, Market Trends –Increasing awareness about preventive care regarding diabetes.
The Global Diabetic Care Market was valued at USD 22.70 Billion in 2019 and is forecasted to reach USD 41.71 Billion by 2027 at a CAGR of 7.9%. Increasing emergence of diabetic disorder because of the rising geriatric population and a growing number of obesity cases, together with technological advancement within the field of polygenic disorder are the key factors driving the market growth. As per the Centers for Disease Control and Prevention (CDC), around 94.1 million individuals were overweight as of 2017 and also the quantity is anticipated to grow more throughout the forecast period.
The latest industry intelligence report on the Diabetic Care Market performs a cautious examination of the current business environment and competitive landscape of the Diabetic Care Market for the forecast period, 2020 – 2027. For stakeholders, field marketing executives and product owners planning to maintain a competitive edge the market assessment report brings to light essential impression about the growth rate, share and size of the industry during the estimated period. Deep dive into an array of elements including but not limited to the value proposition, product positioning, and targeting and industry segmentation have been described through resources such as charts, tables, and info graphics.
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Key Highlights From The Report.
Lifescan, a US based diagnostic systems manufacturer made a partnership agreement with DKSH in January 2020. Through this partnership, they’ll provide sales, regulatory and marketing services for LifeScan products in Asian countries like Vietnam, Indonesia, Philippines, Hong Kong, Malaysia and Taiwan. DKSH will also support the distribution and logistic side of the business in addition to the above mentioned services.
The products required to treat diabetes extends to injectable diabetes drugs, , insulin therapies, blood glucose monitoring systems, insulin pumps, oral drugs, and insulin injection devices. Additionally, a significant quantity of emerging diabetic drugs is under clinical observation by potentially large pharmaceutical organizations that are likely to get a traction in the market over the forecasted period..
Various drugs such as januvia and byetta, mainly in the blood glucose treatment areas, have been found to be safe with good levels of efficiencies. To make the crucial insulin therapy virtually less painful, more accurate, easy to use, and improved blood glucose monitoring systems are available in the market.
Key participants include Medtronic plc, B. Braun, DexCom, Inc., Abbott, F. Hoffman-La Roche Ltd., Ascensia Diabetes Care Holdings AS, LifeScan, Dickinson and Company, MicroGene Diagnostic Systems Pvt. Ltd., AgaMatrix Holdings LLC and Acon Laboratories, Inc. among others.
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Segments Covered in the report
Device Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
End User Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue: USD Billion; 2017-2027)
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