Diabetes mellitus (DM) is often referred as diabetes and also described as a group of metabolic diseases which involved with the hormone insulin. In diabetes, the blood glucose or the blood sugar level is very high. Over time, having a high level of sugar or glucose in the blood causes severe health problems. There are three types of diabetes such as type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 1 diabetes usually occurs in children and young adults whether type 2 diabetes is usually developed in any age group. Type 2 diabetes is the most commonly occurred type of diabetes. The gestational diabetes is developed in some women at pregnancy time which is temporary and subsidized after the child birth. There are various disposable devices used for the diagnosis of blood glucose and uptake of insulin to maintain the blood glucose level. The diabetes diagnosis is normally done by a simple blood test Hemoglobin A1c test, random blood sugar test, fasting blood sugar test and oral glucose tolerance test.
The increasing obese population worldwide and rapidly changing dietary habits along with the changing lifestyle leads to the rising prevalence of diabetes as a disease and boost the global diabetes market.The global disposable diabetes devices market is segmented on the basis of device type and distribution channel.
On the basis of type, the global disposable diabetes devices market is segmented into:
- Diagnostics devices
- Test strips
- Delivery devices
On the basis of distribution channel, the global disposable diabetes devices market is segmented into:
- Hospitals Pharmacies
- Retail Pharmacies
The global disposable diabetes devices market is expected to register a significant CAGR over a forecast period. The increasing prevalence of diabetes and lifestyle diseases worldwide and the changes in the lifestyle are the major factors boost the demand for diabetes devices and drives the growth of the global disposable diabetes devices market. The increasing awareness about the use of disposable devices to restrict the possible infections and disease transmission due to repetitive use of devices, also propel the demand for the disposable diabetes devices and drive the growth of the global market. The increasing per capita spending on healthcare and medical facilities also surge the market growth of the disposable diabetes devices. The collaboration of U.S. FDA with the diabetes patient groups, diabetes care provider, researcher and medical devices manufacturers help to foster the research and development activities by clarifying agency expectations for clinical studies and product approvals, also drives the global disposable diabetes devices market.
However, the higher cost of disposable diabetes devices may hamper the growth of the global disposable diabetes devices market. The disparity in the reimbursement policies in the developed and developing economies may also hinder the demand of the global disposable diabetes devices market.
On the basis of regional presence, the global disposable diabetes devices market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.
The North America is dominating and contributed the leading shares to the global disposable diabetes devices market in terms of revenue and expected to register a significant growth over a forecast period due to the awareness and increasing acceptance of disposable diabetes devices. The Europe has also contributed the moderate shares and registered a healthy growth rate to the global disposable diabetes devices market followed by North America. The APEJ has become the lucrative market for disposable diabetes devices and anticipated to register significant shares over the forecast period due to the increasing prevalence of diabetes and lifestyle diseases in the region. The rising geriatric population also anticipated to boost the diabetes devices market in APEJ. The Latin America and MEA are at a nascent stage to the global disposable diabetes devices market and expected to show a moderate growth over a forecast period.
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Some of the market players in disposable diabetes devices Market globally include Bayer Healthcare AG, Abbott Laboratories, Inc., Johnson& Johnson, Becton Dickinson and Company, F. Hoffmann La-Roche Ltd., Novo Nordisk A/S, Medtronic, Inc., Sanofi, ARKRAY Inc. and Terumo Corporation.