Diabetes Diagnostics Market: Introduction
Presently, a number of health problems related to stomach such as ulcer, liver (jaundice), intestinal pain and cancer, and skin related problems are rising rapidly. Diabetes is also one of the common problems among individuals, generally elderly people, caused due to inadequate insulin production by pancreas. The two types of diabetes are diabetes insipidus and diabetes mellitus. Diabetes mellitus which is caused by inability of the use of glucose by body leading to excess levels of glucose in body, on the contrary patients with diabetes insipidus have normal levels of glucose in body but their kidneys are not able to balance the fluids levels present in their body. Increased consumption of water, frequent urination, blurry vision, and fatigue are the common symptoms observed in patients suffering from diabetes. Delayed treatment of diabetes can lead to other chronic health-related problems such as cardiovascular diseases (CVDs), renal, nerve and neural damage, and sometimes kidney failure in serious conditions leading to fatality. A number of treatment options are available such as injecting insulin to patients at regular intervals, leading a disciplined lifestyle, and molecular approaches such gene therapy. A number of anti-diabetes medicines along with continuous blood glucose monitoring is used to detect the disorder and monitor its effects in the body.
Key Drivers and Restraints of Global Diabetes Diagnostics Market
- Rise in the number of patients suffering from diabetes and its prevalence among people and improper lifestyle often called sedentary lifestyle led by a majority of the population along with unhealthy dietary habits are the key factors boosting the growth of the global diabetes diagnostics market. Additionally, technological advancements such as development of low-cost and non-invasive insulin delivery systems and minimal invasive surgery (MIS) procedures, wearable devices, and digital diabetes management platforms fuel the growth of the global diabetes diagnostic market. Furthermore, rise in awareness about the symptoms and severe side effects of diabetes has led to an increase in usage of diabetes diagnosis and drug treatment solutions. Continuous improvement in health care infrastructure and research & development (R&D) activities contribute to the growth of the global diabetes diagnostics market.
- Lack of trained health care professionals, limited access to health care facilities to people, lack of awareness & information among people are expected to hamper the growth of the global diabetes diagnostics market in the next few years.
Blood Glucose Monitoring Devices Segment to Dominate Global Market
- In terms of product, the global diabetes diagnostics market can be classified into blood glucose monitoring (BGM) devices and insulin delivery devices
- The BGM devices segment can be bifurcated into continuous glucose monitoring devices and self-monitoring devices. The self-monitoring devices sub-segment can be split into blood glucose meters, testing strips, and lancets. The continuous glucose monitoring devices sub-segment can be segregated into sensors, transmitters, and receivers.
- The BGM devices segment is likely to dominate the global market in the next few years because of the presence of major portion of glucose in blood and easy availability of glucose from blood via different means such as injection and surgery.
Hospitals Segment to Witness Highest Growth
- Based on End user, the global diabetes diagnostics market can be divided into hospitals, clinics, home health care, diagnostic centers, and others
- The hospitals segment dominated the global diabetes diagnostics market in 2019 due to marked percentage (%) increase in number of cases coming to hospitals & clinics and rise in sedentary lifestyle of people that promotes the increase in health related problems, especially diabetes.
North America to Dominate Global Diabetes Diagnostics Market
- In terms of region, the global diabetes diagnostics market can be segment into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounted for the largest share of the global diabetes diagnostics market in 2019, followed by Europe. Surge in the number of diabetes cases, rise in prevalence of diabetes, technology advancements, increase in government funding for R&D, and large corporates making significant investments in diabetes diagnostics are attributed to North America’s large market share.
Key Manufacturers Operating in Global Diabetes Diagnostics Market
Key manufacturers operating in the global diabetes diagnostics market are:
- Fresenius Medical Care AG & Co.
- Senseonics Holdings
- Abbott Laboratories
- San Meditech
- GlySens Incorporated
- Nemaura Medical
Global Diabetes Diagnostics Market: Research Scope
Global Diabetes Diagnostics Market, by Product
- BGM Devices
- Self-monitoring Devices
- Blood Glucose Meters
- Testing Strips
- Continuous Glucose Monitoring Devices
- Self-monitoring Devices
- Insulin Delivery Devices
- Jet Injectors
Global Diabetes Diagnostics Market, by End User
- Home Health Care
- Diagnostic Centers
Global Diabetes Diagnostics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.