Diabetes Care Devices Global Market Size:
The global diabetes care devices market was valued at around $13 billion in 2017. Asia Pacific was the largest region in the diabetes care devices market in 2017, accounting for nearly 40% market share. The USA was the largest country in the market in 2017, accounting for nearly 20% market share.
Diabetes Care Devices Global Market Overview:
The diabetes care devices industry manufactures blood glucose monitoring devices and insulin delivery devices. Diabetes care devices are designed to diagnose, monitor or manage type I and type II diabetes mellitus. Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. Insulin is a hormone that regulates blood sugar.
The diabetes care devices market in this report is segmented into blood glucose test strips market, insulin pens, insulin syringes, insulin pumps and injectors, lancing devices, continuous glucose monitoring devices and blood glucose meters market.
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Diabetes Care Devices Market Trend:
The artificial pancreas is a system that measures blood glucose levels on a minute-to-minute basis using a continuous glucose monitor (CGM), and transmits this information to an insulin pump that calculates and releases the required amount of insulin into the body. It consists of three essential components – a glucose sensor system, a control algorithm, and an insulin infusion device. This system is more effective than conventional insulin delivery devices as it automates insulin dosing based on blood sugar levels. Key companies in this industry are focusing on developing such systems. Medtronic recently gained US FDA approval for its artificial pancreas system, MiniMed 670G.
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Diabetes Care Devices Global Market key players:
The top five companies in the diabetes care devices industry covered are Roche, Medtronic, J&J, Abbott, and Becton, Dickinson and Company. Roche was the largest company in the global diabetes care devices market with nearly 15% market share in 2017.
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