Diabetes Monitoring Devices Market is projected to grow at a CAGR of 8%, claims Roots Analysis
Roots Analysis has announced the addition of “Diabetes Monitoring Devices Market, 2020-2030” report to its list of offerings.
Over time, a number of companies have developed advanced variants of the conventional blood glucose monitoring devices, which are portable, and minimally / non-invasive. Many such next generation solutions have connectivity features that enable patients’ health data to be captured and shared with medical professionals, upon request.
In addition, there are a number of innovative continuous glucose monitoring (CGM) systems, which are designed to provide real-time insights on blood glucose levels. Newer variants of these products have intuitive software that enables patients to quickly make important treatment-related decisions.
Key Market Insights
More than 240 diabetes monitoring devices are presently available / under development
Over 80% of the devices are currently marketed, while the rest are in under preclinical / clinical evaluation. It is worth highlighting that majority of the devices mentioned in the report are self-blood glucose monitors (80%), which are followed by continuous blood glucose monitoring devices (20%).
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Over 80 companies, across the globe, presently claim to develop diabetes monitoring devices
Most (46%) of the device developers are located in North America, primarily in the US; whereas, in Europe, companies involved in the development of disease monitoring solutions for diabetics are mostly based in Germany, Switzerland, the UK and France. It is worth highlighting that around 50% of the industry stakeholders are small companies
Multiple big pharma players also have significant stake in this field
Top three big pharmaceutical companies are engaged in developing diabetes monitoring device, either in-house or in partnership with other stakeholders
Partnership activity within this domain has grown at a CAGR of 11%, between 2015 and 2019
The maximum number of partnerships related to diabetes monitoring devices, were inked in 2019. Majority of the agreements were related to the integration of the products / technologies of the partnering companies, in order to develop an advanced, technically superior offering; these constituted over 50% of the total number of instances captured in the report.
North America and Europe are anticipated to capture over 50% market share, by 2030
In addition, the market in Asia Pacific is projected to capture over 25% market share, by 2030. Further, the current market is driven by revenues generated from the sales of self-monitoring blood glucose devices (over 79%), which is followed contributions from continuous glucose monitoring device sales (21%). Considering that type 1 diabetics have a greater need of such disease monitoring solutions (owing to the fact that they are on an insulin dependent treatment regimen), their contributions, in terms of revenues from product sales, are likely to continue to represent the higher market share (94%) in 2030.
Get Latest Market Insights:
Diabetes Monitoring Devices Market by Type of Device, Diabetes Type, Type of Self-Monitoring Blood Glucose Device Component, Type of Continuous Blood Glucose Monitoring Device Component, and Key Geographies: Industry Trends and Global Forecasts, 2020-2030
Key Questions Answered
- Who are the leading diabetes monitoring device developers?
- What are the popular disease monitoring devices that are currently available / under development, for diabetics?
- What are the various novel / advanced features being incorporated into diabetes monitoring devices?
- What kind of partnership models are commonly adopted by stakeholders in this industry?
- What kind of initiatives have been taken by big pharma companies in this rapidly evolving industry segment?
- What are the factors that are likely to influence the evolution of the diabetes monitoring devices market?
- How is the current and future opportunity likely to be distributed across key market segments?
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The USD 34 billion (by 2030) financial opportunity within the diabetes monitoring devices market has been analyzed across the following segments:
Type of Device
- Self-monitoring Blood Glucose Devices
- Continuous Blood Glucose Monitoring Devices
- Diabetes Type 1
- Diabetes Type 2
Self-monitoring Blood Glucose Devices
- Lancing Devices
- Blood Glucose Meters
- Testing Strips
Continuous Blood Glucose Monitoring Devices
- North America
- Asia Pacific
- Latin America
- Middle East and North Africa
- Rest of the World
The research includes detailed profiles of key players (listed below) in this field, featuring an overview of the company, its technology portfolio, product portfolio, financial information (if available), recent developments and an informed future outlook.
- Ascensia Diabetes Care
- Oak Tree Health
- SD Biosensor
- TaiDoc Technology
- VivaChek Laboratories
About Roots Analysis
Roots Analysis is one of the fastest growing market research companies, sharing fresh and independent perspectives in the bio-pharmaceutical industry. The in-depth research, analysis and insights are driven by an experienced leadership team which has gained many years of significant experience in this sector. If you’d like help with your growing business needs, get in touch at firstname.lastname@example.org
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