The BRIC diabetes care devices market size is
projected to reach USD 4.82 million by 2026, according to a new report by Grand
View Research, Inc. It is anticipated to register a 5.28% CAGR over the
forecast period. The market in BRIC nations is primarily driven by the
increasing prevalence of diabetes, especially among geriatric and obese
population. Increasing collaboration and funding support to research is further
augmenting the growth. The factors responsible for the increasing incidence of
glucose impairment are the increasing alcohol and tobacco consumption, lack of
physical activity, and obesity. However, increasing prices of advanced devices
and presence of cost-effective alternative treatment may restrict the market
growth.
BRIC nations are also witnessing large untapped
opportunities with favorable government initiatives focused on disease
awareness. According to the World Health Organization (WHO), more than 50%
Indian population with diabetes remains undiagnosed. Many government
initiatives and approval from the Food and Drug Administration (FDA) for
advanced diabetes care devices are also propelling the growth. For instance, in
2019, the Research Trust of Diabetes India launched its 1000 days Initiative to
control diabetes in the country. This initiative will bring together
diabetologists across India to provide recommendations and clinical guidelines.
Furthermore, technological advancements coupled with collaboration among key
market players is also propelling the market growth. For instance, in September
2019, Abbott and Sanofi collaborated to work on tools that integrate Sanofi’s
insulin dosing information with Abbott’s FreeStyle Libre technology.
Browse full research report on BRIC
Diabetes Care Devices Market: https://www.grandviewresearch.com/industry-analysis/bric-diabetes-care-devices-market
Further key
findings from the report suggest:
- Based on product, the insulin delivery devices dominated with over
60% market share in 2018. Insulin Pumps segment is expected to register
the fastest CAGR of 3.81% during the forecast period owing to increasing
number of patients with glucose impairments and availability of ease to
use and convenient pumps
- On the basis of CGM devices, sensors dominated the segment with a
revenue of over 100 million in 2018, attributed to high usage and adoption
of these devices
- China held the dominant market position in 2018 and is expected to
retain its lead throughout the forecast period. Large diabetes population
and supportive government initiatives are the key factors driving market
growth in the country
- Some of the prominent players in the BRIC diabetes care devices
market include Johnson & Johnson; Ypsomed AG; Bayer AG; F. Hoffmann-La
Roche Ltd; Abbott Laboratories; Becton, Dickinson and Company; Medtronic
Plc; Ypsomed AG; Sanofi; Novo Nordisk A/S; Arkray, Inc.; Acon
Laboratories, Inc.; Terumo Corporation; and Dexcom, Inc.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/bric-diabetes-care-devices-market/request/rs1
Grand
View Research has segmented BRIC diabetes care devices market on the basis of
product, and region:
BRIC Diabetes
Care Devices Product Outlook (Revenue, USD Million, 2015 - 2026)
- Blood Glucose
Monitoring Devices
- Self-monitoring
Devices
- Blood Glucose
Meter
- Testing Strips
- Lancets
- Continuous Glucose
Monitoring Devices
- Sensors
- Transmitter
- Receiver
- Insulin Delivery
Devices
- Pens
- Pumps
- Syringes
- Jet Injectors
BRIC Diabetes
Care Devices Regional Outlook (Revenue, USD Million, 2015 - 2026)
- BRIC
- Brazil
- Russia
- India
- China
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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