Revolutionary Trends in Diabetes Monitoring Devices Set to Propel Market Growth with 6.4% CAGR, Lancets and Devices Subsegment Surges at 10.3% CAGR

2023-09-14
PRNewswire
DUBLIN, Sept. 14, 2023 /PRNewswire/ -- The "Global Markets for Diabetes Therapeutics and Diagnostics" report has been added to
ResearchAndMarkets.com's offering.
The latest market analysis presents an optimistic outlook for the global Diabetes Therapeutics and Diagnostics market, projecting substantial growth from $102.2 billion in 2023 to a promising $132 billion by 2028, boasting a Compound Annual Growth Rate (CAGR) of 5.2%. This report provides a comprehensive overview of the current landscape and future prospects for this vital healthcare sector.
The report explores the far-reaching implications of emerging trends within the diabetes market, offering insights into the market's current status, its growth trajectory, and the pivotal national markets. It provides an in-depth discussion of key pharmaceutical and medical industry players, complete with profiles of industry leaders and an update on mergers and acquisitions within the field. Moreover, the report offers five-year global sales forecasts for leading drug and device categories, coupled with country-level breakdowns of the diabetes market.
The analysis highlights major players, competitive intelligence, innovative technologies, market dynamics, and regional opportunities. It examines recent developments and product portfolios of industry leaders while delving into patent analysis, emphasizing technological trends in regions such as the U.S., Europe, and Japan. Additionally, the report provides a detailed market analysis and forecasts the Compound Annual Growth Rate (CAGR) for the diabetes therapeutics and diagnostics market.
This comprehensive report segments the global market across geographic regions, including North America, Europe, Asia-Pacific, and the Rest of the World. The data is based on 2022 as the base year, with insights extending through year-end 2028.
One standout finding is that the diabetes monitoring devices and accessories segment is the fastest-growing, projected to achieve a CAGR of 6.4%. Within this segment, the subsegment of lancets and devices is set to experience the highest growth rate, with an impressive CAGR of 10.3%. Conversely, the diabetic therapeutics segment exhibits a slower growth rate, with a CAGR of 4.0%. Within diabetic therapeutics, the injectable therapy subsegment registers the lowest CAGR of 3.4%.
The global impact of diabetes is undeniably expanding, as reported by the International Diabetes FederationDiabetes Federation. The latest available data from 2021 indicates that approximately 537 million adults aged 20-79 live with diabetes, with projections of 643 million by 2030 and 783 million by 2045. Worryingly, about half of all adults with diabetes, totaling around 240 million individuals, remain undiagnosed.
Diabetes presents a significant global health challenge, with 6.7 million deaths attributed to the disease in 2021. Moreover, the economic burden is staggering, with an estimated cost of $966 billion in the same year, accounting for 9% of global health expenditures for adults.
Companies Mentioned
77 Elektronika Kft.
Abbott
Altucell
B. Braun Se
Danaher
Lilly
Menarini Group (A. Menarini Diagnostics S.R.L)
Merck Kgaa
Lilly
Report Highlights:
162 data tables and 63 additional tables
An up-to-date overview and analysis of the global diabetes therapeutics and diagnostics markets
In-depth analyses of global market trends, encompassing sales figures for 2020-2022, estimates for 2023, and projections of Compound Annual Growth Rates (CAGRs) through 2028
Exploration of the burgeoning market potential for AI in diabetic mellitus management, focusing on new products, solutions/platform technologies, and areas of growth
Estimations of actual market size, revenue forecasts for the global diabetes therapeutics and diagnostics market, and corresponding market share analysis based on product type, end user, and geographical region
Comprehensive information on major market dynamics, opportunities, and gaps, including demand estimation, technological adaptations in diabetes care, industry developments, regulatory dynamics, and the COVID-19 impact
Identification of companies best positioned to meet market demand through proprietary technologies, product launches, and strategic advantages
Review of key patent grants and applications related to diabetes therapeutics and diagnostics, with insights into emerging technologies and developments
Key Attributes:
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Global Market for Diabetes Therapeutics
Overview
Classification and Types of Antidiabetic Medications
Injectable Therapies for Diabetes
Oral Antidiabetic Drugs (Oads)
Facing the Patent Cliff
Latest Technological Advances, Developments and Product Pipelines for Diabetic Medications
Current Product Pipeline
Other Potential Therapies Currently Under Investigation
Chapter 5 Global Market for Diabetes Monitoring Devices and Accessories
Overview
Self-Monitoring of Blood Glucose (Smbg)
Smbg Market Structure
Latest Technological Advances and Developments in Blood Glucose Devices
Continuous Glucose Monitoring (Cgm) Systems
Development of Cgm Systems
Chapter 6 Global Market for Diabetes Delivery Devices by Type
Chapter 7 Global Market for Diabetes Therapeutics and Diagnostics by End-user
Chapter 8 Global Market for Diabetes Therapeutics and Diagnostics by Region
Chapter 9 Sustainability in the Market for Diabetes Therapeutics and Diagnostics: An Esg Perspective
Chapter 11 M&As and Venture Funding Outlook in the Market
Chapter 12 Competitive Landscape
Chapter 13 Company Profiles
Chapter 14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/f787tk
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