Diabetes Devices Market was valued at US$ 41.8 Bn in 2018 and is anticipated to expand at a CAGR of 6.4% from 2019 to 2027, increase in prevalence of diabetes, and increase in adoption of insulin pumps among type 1 diabetes patients are projected to drive the market
Transparency Market Research (TMR) has published a new report titled, ‘Diabetes Devices Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the
report, the global diabetes devices market was valued at US$ 41.8 Bn in 2018 and is projected to expand
at a CAGR of 6.4% from 2019 to 2027.
Diabetes is a global issue affecting millions of people every year. This has led to major
technological advancements in diabetes treatment. Global diabetes care devices market exhibits
a great potential and is estimated to grow exponentially by 2027.
Diabetes care devices are used to diagnose and monitor the blood glucose level into a diabetic
patient’s body. The demand for minimally invasive devices has led companies to launch patient-
convenient diabetes care device.
North America dominated the global diabetes devices market in 2018 and the trend is
anticipated to continue during the forecast period. Large diabetes population, higher awareness,
significant health care spending in the overall national budget, early availability of advanced
technologies, and higher penetration of health care services across the U.S. and Canada are
expected to drive the market in North America.
Asia Pacific is likely to be a highly lucrative market for diabetes devices and it is expected to
expand at a high CAGR during the forecast period
Request a PDF Sample -
Rise in Incidence of Pediatric and Geriatric Diabetes to Drive Market
The world’s population is aging rapidly, especially in some of the developed economies such as
the U.S. and Japan. Developed economies present high rates of aging. According to the World
Health Organization, the global geriatric population is likely to reach around 2 billion (22% of
global population) by 2050 as compared to 900 million in 2015. Countries such as India, China,
Thailand, and South Korea are also expected to have large geriatric populations in