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The Diabetes care Devices Market size is estimated to Reach US$ 39,382.3 Million by 2027

The diabetes care devices market growth is attributed to the rising incidence of diabetes, growing geriatric population, increasing prevalence of obesity across the globe, and rapid technological advancement in diabetes care devices.

Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce insulin. This inability prevents the body from regulating blood glucose levels. There are two types of diabetes diabetes type-I (also known as diabetes insipidus) and diabetes type-II (also termed as diabetes mellitus). Incidences and prevalence of diabetes are steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has increased due to significant cultural and societal changes. In high-income countries, up to 91% of adults have type 2 diabetes. According to International Diabetes Federation (IDF), approximately 425 million people were detected with diabetes in 2017and is expected to reach 629 million by 2045 across the globe.

Moreover, in 2017, a total of 30,187 people were diagnosed with diabetes in the US. Diabetes is one of the chronic disorders which require sustained care throughout. Thus, the increasing prevalence of diabetes is expected to boost the diabetes care market size during the forecast period.

Insulin is delivered into the body using needles, insulin pens, and insulin pumps. Insulin pumps are small, computerized diabetes management devices connected with a cannula under the skin that is used to deliver a slow continuous level of insulin. The flow can be controlled by an individual depending on the requirement. The optimal diabetes management depends on accurate glucose monitoring devices. The increasing advancements in blood glucose (BG) monitoring technology have resulted in improved accuracy, smaller required blood volumes, and the ability to transfer data between the BG meter and insulin delivery devices.

Pen needles and syringes are the most commonly used devices for injecting insulin into diabetic patients. Various manufacturers are developing innovative products to sustain in the highly fragmented global pen needles market. The easy regulatory approvals in Asian countries have led to mid-sized companies entering the diabetes care devices market and competing with the local and established players. For instance, in May 2018, Hindustan Syringes and Medical Devices (HMD), one of the leading manufacturers of disposable syringes, introduced “Dispovan” insulin pen needle the first made-in-India disposable pen needle that is more technologically efficient and affordable than that of the currently available products in the market. The development of pen needles with precise lubrication to reduce pain sensation has been another focus of manufacturers during the research.Thus, the ongoing technological advancements are expected to assist the diabetes care devices market size over the forecast period.

The global diabetes care devices market, based on product, is bifurcated into glucose monitoring devices and insulin delivery devices. The glucose monitoring devices segment is further subsegmented into glucometers, lancets, testing strips, and other glucose monitoring devices. The insulin delivery devices segment is further categorized into insulin pens, insulin syringe, insulin pumps, and other insulin delivery devices. The global diabetes care devices market, based on end user, is segmented into homecare and hospitals & clinics.

Apart from the developments for the diabetes care devices market, the key market players are developing innovative products that assists in the diagnosis and monitoring of the diabetic conditions. For instance, the current Accu-Chek portfolio of F. Hoffmann-La Roche Ltd. offers people with diabetes and healthcare professional’s innovative products and impactful solutions for convenient, efficient and effective diabetes management. Similarly, the companies are performing inorganic growth market for instance, in February, 2017, Roche and Medtronic entered into an agreement to develop a next-gen BG meter that will intertwine Accu-Chek glucose monitoring technology into a future Medtronic pump system.

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Companion Animal Diagnostics Market Projected to Reach US$ 2,684.86 million by 2027

The companion animal diagnostics market was valued at US$ 2,031.62 million in2019 and is projected to reach US$ 2,684.86 million by 2027; it is expected to grow at a CAGR of 4.1%from 2020to 2027.

The companion animal diagnostics market offerings deal with the epidemiology and pathogenesis of domestic animals and facilitate the prevention of further complications with the health of pets and their owners. The companion animal diagnostics market is expected to witness huge growth due to growing prevalence of chronic diseases in pet animals and increasing adoption of pets for companionship. However, increasing pet care costs and extended pet lifespan are expected to restrain the growth of the market during the forecast period.

��Growing Prevalence of Chronic Diseases in Pet Animals

Similar to humans, animals too suffer from chronic diseases. Arthritis and other orthopedic conditions, chronic kidney disease, cancer, hepatitis and other liver diseases, skin allergies, diabetes mellitus, inflammatory bowel disease, and thyroid disorders are among the common chronic diseases in pets. Cancer is widespread in animals and affects pet as well as wild animals. Animals have been diagnosed with various types of cancer till date, which have symptoms similar to humans, including weight loss, abnormal swelling, and lethargy. As per the veterinary cancer society, cancer is a leading cause of death in 47% of dogs, especially in dogs of age >10 years, and 32% of cats. Further, FETCH a Cure, a nonprofit organization, has estimated that over 6 million dogs and ~6 million cats would be diagnosed with cancer in 2020. Furthermore, as per the Pet Cancer Facts and Figures, one in four dogs and one in five cats develop cancer in their lifetime. According to the association for pet obesity prevention (APOP), in 2018, ~55.8% of dogs and 59.5% of cats in the US were overweight or obese.

Based on technology, the global companion animal diagnostics market is segmented into immunodiagnostics, clinical biochemistry, hematology, urinalysis, molecular diagnostics, and others. The immunodiagnostics segment is further sub-segmented into lateral flow assays, Elisa tests, allergen-specific immunodiagnostic tests, and immunoassay analyzers. Whereas the clinical biochemistry is sub-segmented into clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis. The immunodiagnostics segment held a largest share of the market in 2019. However, the clinical biochemistry segment is estimated to register a higher CAGR during the forecast period owing to increasing adoption of clinical chemistry analysis, glucose monitoring, and blood gas electrolyte analysis products.

 The companion animal diagnostics market is expected to grow owing to factors such as growing prevalence of chronic diseases in pet animals and increasing adoption of pets for companionship. However, increasing pet care costs and extended pet lifespan are likely to restrain the growth of the market during the forecast period.

 Zoetis Inc., IDEXX laboratories, Inc, Thermo Fisher Scientific Inc, Virbac, Randox Laboratories Ltd, idvet, IDEXX Laboratories, Inc, Heska Corporation, Fujifilm Corporation, and Skyla Corporation are among the leading companies operating in the companion animal diagnostics market.

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Diabetes Care Devices :  BD; Novo Nordisk A/S; B. Braun Melsungen AG; Insulet Corporation; Tandem Diabetes Care, key Companies in Smart Diabetes Devices

The diabetes care devices market size is estimated to reach US$ 39,382.3 million by 2027 from US$ 23,354.3 million in 2018; it is expected to grow at a CAGR of 6.1% during 2019-2027.

The diabetes care devices market growth is attributed to the rising incidence of diabetes, growing geriatric population, increasing prevalence of obesity across the globe, and rapid technological advancement in diabetes care devices.

Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce insulin. This inability prevents the body from regulating blood glucose levels. There are two types of diabetes diabetes type-I (also known as diabetes insipidus) and diabetes type-II (also termed as diabetes mellitus). Incidences and prevalence of diabetes are steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has increased due to significant cultural and societal changes. In high-income countries, up to 91% of adults have type 2 diabetes. According to International Diabetes Federation (IDF), approximately 425 million people were detected with diabetes in 2017and is expected to reach 629 million by 2045 across the globe.

Moreover, in 2017, a total of 30,187 people were diagnosed with diabetes in the US. Diabetes is one of the chronic disorders which require sustained care throughout. Thus, the increasing prevalence of diabetes is expected to boost the diabetes care market size during the forecast period.

Insulin is delivered into the body using needles, insulin pens, and insulin pumps. Insulin pumps are small, computerized diabetes management devices connected with a cannula under the skin that is used to deliver a slow continuous level of insulin. The flow can be controlled by an individual depending on the requirement. The optimal diabetes management depends on accurate glucose monitoring devices. The increasing advancements in blood glucose (BG) monitoring technology have resulted in improved accuracy, smaller required blood volumes, and the ability to transfer data between the BG meter and insulin delivery devices.

Pen needles and syringes are the most commonly used devices for injecting insulin into diabetic patients. Various manufacturers are developing innovative products to sustain in the highly fragmented global pen needles market. The easy regulatory approvals in Asian countries have led to mid-sized companies entering the diabetes care devices market and competing with the local and established players. For instance, in May 2018, Hindustan Syringes and Medical Devices (HMD), one of the leading manufacturers of disposable syringes, introduced “Dispovan” insulin pen needle the first made-in-India disposable pen needle that is more technologically efficient and affordable than that of the currently available products in the market. The development of pen needles with precise lubrication to reduce pain sensation has been another focus of manufacturers during the research.Thus, the ongoing technological advancements are expected to assist the diabetes care devices market size over the forecast period.

The global diabetes care devices market, based on product, is bifurcated into glucose monitoring devices and insulin delivery devices. The glucose monitoring devices segment is further subsegmented into glucometers, lancets, testing strips, and other glucose monitoring devices. The insulin delivery devices segment is further categorized into insulin pens, insulin syringe, insulin pumps, and other insulin delivery devices. The global diabetes care devices market, based on end user, is segmented into homecare and hospitals & clinics.

Apart from the developments for the diabetes care devices market, the key market players are developing innovative products that assists in the diagnosis and monitoring of the diabetic conditions. For instance, the current Accu-Chek portfolio of F. Hoffmann-La Roche Ltd. offers people with diabetes and healthcare professional’s innovative products and impactful solutions for convenient, efficient and effective diabetes management. Similarly, the companies are performing inorganic growth market for instance, in February, 2017, Roche and Medtronic entered into an agreement to develop a next-gen BG meter that will intertwine Accu-Chek glucose monitoring technology into a future Medtronic pump system.

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Glucose Monitoring Devices : Provides Real –Time Continuous Glucose Monitoring For People with Diabetes

The glucose monitoring devices market size is estimated to reach US$ 21,850.9 million by 2027 from US$ 12,628.3 million in 2018; it is expected to grow at a CAGR of 6.4% during 2019-2027.

Self-monitoring blood glucose (SMBG) is a modern diabetes management procedure, which involves the usage of blood glucose meters by patients to check their glucose levels quickly and provide an accurate measure of capillary glucose concentration. SMBG technology uses test strips, lancets, and blood glucose meters to achieve long-term glycemic control.

Diabetes is a disease that occurs when blood glucose, also called blood sugar, is too high. Blood glucose is the main source of energy and comes from the food we eat. Insulin, a hormone made by the pancreas, aids glucose from food getting into your cells to be used for energy. Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two types of diabetes diabetes type-I (also known as diabetes insipidus) and diabetes type-II (also termed as diabetes mellitus). Incidences and prevalence of diabetes are steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has grown alongside cultural and societal changes. In high-income countries, up to 91% of adults with the disease have type 2 diabetes. According to International Diabetes Federation (IDF), approximately 425 million people were living with diabetes in 2017and it is expected to reach 629 million by 2045 across the globe.

Diabetes of all types can lead to various complications in many parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with this disease. Patients suffering from diabetes require frequent monitoring and external administration of insulin.

Obesity is one of the significant concerns globally. It is one of the major issues that affect people of all ages. According to World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older were overweight. Lack of exercise, unhealthy diet, and rapid growth in the obese population are expected to increase the susceptibility of diabetes among the population globally

The global glucose monitoring devices market, based on product, is segmented into glucometers, lancets, testing strips, and other glucose monitoring devices. The testing strips segment was the largest among the product subsegments in the market in 2018 and is expected to witness growth in its demand at the fastest CAGR of 7.0% during 2019–2027. The global glucose monitoring devices industry, based on end user, is segmented into home care and hospitals & clinics. The homecare segment held a larger share of the market in 2018 and is expected to witness growth in its demand at a faster CAGR during 2019–2027.

Some of the notable players in the global glucose monitoring devices market includes F. Hoffmann-La Roche Ltd., B. Braun Melsungen AG, Medtronic, Abbott, LifeScan, Inc., Ascensia Diabetes Care Holdings AG, Ypsomed AG, Omron Corporation, GE Healthcare and Nipro Corporation among others. The major market players within the recent years, have been observed to invest a substantial amount towards the development of new products. This implies a bright picture on the type of strategies majorly incorporated by the glucose monitoring devices market players to sustain their positions as well as to generate increased growth revenue in the glucose monitoring devices market. The global leaders in the market have been majorly adopting product launches and product up-gradation as one of the key strategy to improve its product lines in order to build up a customer centric benefits to its end users and enhance its geographic diversification.

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Smart Inhalers Gaining Popularity in Asthma Patient

According to The Insight Partners market research study titled ‘Smart Inhalers Market to 2027 – Global Analysis and Forecasts by Product, Disorder and End User.’ The Global Smart Inhalers Market is expected to reach US$ 8,033.21 Mn in 2027 from US$ 1,094.26 Mn in 2018. The market is estimated to grow with a CAGR of 25.5% from 2019-2027. The report highlights the trends prevalent in the global smart inhalers market and the factors driving the market along with those that act as deterrents to its growth.

Smart inhalers are advanced form of inhalers that are digitally connected to apps on phone or tablet, which helps the physicians to manage patient’s medical condition more effectively. Smart inhalers use Bluetooth technology to identify the use of inhaler as well as remind patients to take their medication and gather data to help guide care. Other than the management of respiratory diseases, the device also sends an alert on smartphones when a patient enters a high pollen or highly polluted area, which helps a patient decide whether to avoid the environment. Smart inhalers have sensors, enabling the patients to automatically track how often the inhaler is being used by the patient, hence avoiding the chances of any human errors. The growth of the Smart Inhalers in healthcare market is attributed to the rising prevalence of asthma and COPD across the globe and growing geriatric population in regions such as Asia, Europe and North America are expected to boost are the key driving factors for the growth of the market in the forecast period. However, the growth of the market is restrained by factors such as limited knowledge regarding the use of smart inhalers and the risks associated with cyber threats.

Global smart inhalers market, based on the product, was segmented as, nebulizers and inhalers. In 2018, the inhalers held the largest share of the market, by product. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. Inhalers are widely used in respiratory disorders such as asthma and COPD. They are available in various forms such as manually-actuated pressurized metered-dose inhalers, breath-actuated pressurized metered-dose inhalers, dry powder inhalers, and mist inhalers. The use of the type of inhaler highly depends on the intensity of the respiratory disorder and the need for its diagnosis.

The market for smart inhalers is expected to grow, owing to factors such as increasing levels of air pollution as well as the rise in the smoking habits, rising prevalence of asthma and COPD across the globe and growing geriatric population. In addition, growth in the global healthcare market and increasing usage of smartphones, tablets & pads are likely to have a positive impact on the growth of the market in the coming years.

The major players operating in the smart inhalers market include GlaxoSmithKline plc, Adherium Ltd., Vectura Group plc, Novartis AG, Findair Sp. z o. o., Cohero Health, Crux Product Design Ltd, Teva Pharmaceuticals, 3M, and Amiko Digital Health Limited. The market has witnessed various organic as well as inorganic developments during recent years in the smart inhaler market. During December 2018, GlaxoSmithKline plc and Pfizer Inc signed an agreement in order to combine their consumer health businesses into a new world-leading Joint Venture. This agreement has helped the companies to offer better services to its customers across the globe.

Apart from inorganic growth strategies such as collaborations, the companies have also launched their products in the Smart Inhalers Market during recent years. For instance, during August 2018, Adherium launched the Hailie solution in the U.S market, after its recent FDA over-the-counter clearance to facilitate sales direct to consumer. The introduced Hailie solution helps patients suffering from asthma and COPD to access care through a digital experience, which includes a smartphone app and a sensor which attaches to patient’s prescription inhaler medication.