November 07, 2022 09:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, Nov. 07, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – In 2021, the value of global diabetes devices market was clocked at US$ 50.5 Bn in 2021. An analysis of diabetes devices market projects the global market to expand at 6% CAGR during the forecast period, from 2022 to 2031. By 2031, the global diabetes devices market size is predicted to surpass value of US$ 90.2 Bn. Manufacturers have developed patient-friendly blood glucose monitoring devices in response to the rise in demand for less invasive medical technologies. The number of people with diabetes has increased, which has increased demand for diabetes treatment and lancing devices. Diabetes is quite common among the elderly population, which is likely to raise demand for diabetes tracker gadgets.
The size of the global market for diabetes devices has increased as a result of government initiatives to promote understanding about diabetic devices. The development of the healthcare system and economic expansion are also expected to boost demand for diabetic gadgets. Additionally, businesses are concentrating on lowering the price of diabetes tracker devices, which is expected to enhance demand for these gadgets.
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In 2021, a significant portion of the global market for diabetes devices held by North America. This is attributed to greater understanding, high prevalence of diabetes, and major spending on healthcare in the overall national budget. In addition, the early and easy availability of technologically advanced solutions, and a larger uptake of healthcare services nationwide are also anticipated to propel the market. In North America, the U.S. is a significant market for diabetes devices.
Key Findings of Market Report
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Global Diabetes Devices Market: Key Players
Some of the key market players are
Global Diabetes Devices Market: Segmentation
Product Type
Technology
Application
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