Researchmoz presents this most up-to-date research on"The US Diabetic Devices Industry Outlook to 2018 - Growth to be Led by Next Generation Technology". The report focuses primarily on quantitative market metrics in order to characterize the growth and evolution of the Market.
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The report titled “The US Diabetic
Devices Industry Outlook to 2018- Growth to be Led by Next Generation
Technology” presents a comprehensive analysis of the industry covering
aspects including market size of SMBG devices, CGM systems and Insulin
Delivery Devices market by revenue and market segmentation by product
categories in SMBG devices and Insulin Delivery Devices market. The
report also entails a detailed description on the recent trends and
developments in the diabetic care devices market and competitive
scenario of major players in the industry along with market share of
major companies in SMBG devices and Insulin Delivery devices market.
The Diabetic Care Devices Market in
the US has transformed from niche to mainstream, owing to the increasing
number of diabetic patients and growing ageing population in the
country. Diabetic equipments have slowly become an integral part of
present day’s fast paced lifestyles along with other changes such as
increasing acceptability and affordability of these products. New
product launches in this market has been driven by escalating demand of
diabetic care devices by the diabetic population of the country. The US
diabetic devices industry grew from USD ~ million in 2007 to USD ~
million in 2013, recording a CAGR of 7.7% from 2007-2013.This market is
dominated by players such as Roche Diagnostics, Life Scan and Abbott
Diabetes Care.
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The US Diabetic Care devices market
has been predominantly held by SMBG devices, marking a contribution of
nearly ~ % as recorded in 2013. The market share of this segment has
decreased significantly from ~% in 2010 to ~% in 2013 but the segment
continues to hold the largest share in the diabetic care devices market
revenue in the country. The insulin delivery devices accounted for
approximately ~ % of the diabetic care devices revenue in the country in
the year 2013. CGM devices were introduced in the market in 1999. The
US is a leading player in the CGM market in terms of revenue generation.
This market segment made a petite contribution of ~% to the total
revenue of diabetic care devices industry in the year 2013.
The use of SMBG has been advocated for
several years as an approach to improve blood glucose control for
people suffering from Type I and Type II diabetes. Blood glucose meters,
blood glucose test strips and lancets and lancing devices constitute
the SMBG devices market. The market was valued at USD ~ million in 2007;
having grown to USD ~ million in 2013 at a CAGR of ~% during the period
of 2007-2013. The market is expected to reach USD ~ million by 2018.
Roche Diagnostics and LifeScan occupied the largest share in the SMBG
market in 2013. The SMBG devices market will benefit from the appearance
and growing attractiveness of CGM.
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CGM System offers regular glucose
measurements, usually every few minutes. This is a highly useful device
as it provides greater insight into blood glucose levels all day by
instilling a small sensor under the skin. In the forthcoming years, it
is expected that such implantable sensors might robotically adjust for
infusion rates provided by the insulin pump. The industry reached USD ~
million in 2013 from USD ~ million in 2010, showing a phenomenal growth,
recording an impressive CAGR of ~% during the period 2010-2013.
Medtronic and Dexcom are leading players in the industry. Artificial
Pancreas, a combination of CGM Device and Insulin Delivery Device,
cannot be defined as a cure for diabetes but certainly helps in enhanced
control and management of the disease by trimming down the burden of
monitoring and managing blood glucose.
The insulin delivery market occupied
~% market share which makes it the second largest segment of the US
Diabetic devices market in the year 2013. The market reported value
sales of USD ~ million in 2013. The market for diabetic care has been
dominated by insulin pens. The share of insulin syringe has declined
over the years due to the launch of potential diabetic device
substitutes such as insulin pens and artificial pancreas. The insulin
pump market generated USD ~ million in 2013. Its contribution in insulin
delivery market segment has surged from ~% in 2007 to ~ % in 2013.
Medtronic, Novo Nordisk and Sanofi are leading players in the insulin
delivery devices market. The market is expected to grow at a CAGR of ~%
in the coming years, 2013-2018 with the market size reaching USD ~
million in 2018 from USD ~ million in 2014.
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