International Diabetes Diagnostics Market to Attain $42.Four Billion by 2026 | Information

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SAN FRANCISCO, June 29, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc. (GIA), the leading market research firm, released its report today, titled “Diabetes Diagnostics – Global Market Development and Analysis”. The report offers new perspectives on opportunities and challenges in a strongly changed market after COVID-19.

FACTS AT A GLANCE

Edition: 18; Released: April 2021

Management engagements: 9091

Companies: 91 – Players Covered include A.Menarini Diagnostics Ltd .; Abbott Diabetes Care, Inc .; Acon Laboratories, Inc .; AgaMatrix, Inc .; Apex Biotechnology Corporation; ARKRAY, Inc .; Ascensia Diabetes Care Holdings AG; B. Braun Melsungen AG; Becton, Dickinson and Company; BIONIME company; Bio-Rad Laboratories, Inc .; Danaher Society; Beckman Coulter, Inc .; HemoCue® AB; DexCom, Inc .; Diazyme Laboratories Inc .; EKF Diagnostics Holdings Plc; LifeScan, Inc .; Medtronic PLC; Nova Biomedical Corporation; OSANG Healthcare Co., Ltd .; Roche Diabetes Care, Inc .; Sanofi SA; Sanwa Kagaku Kenkyusho Co, Ltd .; Siemens Healthineers; Sinocare, Inc .; PTS diagnosis; Trividia Health, Inc .; TaiDoc Technology Corporation; Tandem Diabetes Care, Inc .; Terumo Society; Tosoh Bioscience, Inc .; Trinity Biotech plc; Ypsomed AG and others.

Cover: All major regions and key segments

Segments: Product type (test strips, lancets, analog glucose monitors, continuous glucose monitors, syringes, pens, pumps, injectors); End Use (Hospitals, Home Care, Diagnostic Centers, Other End Uses)

Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UNITED KINGDOM; Spain; Russia; the rest of Europe; Asia Pacific; Australia; India; South Korea; the rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; the rest of Latin America; middle East; Iran; Israel; Saudi Arabia; United Arab Emirates; the rest of middle East; Africa.

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ABSTRACT-

Reaching Global Diabetes Diagnostics Market $ 42.4 billion by 2026

Diabetes diagnostic systems are used to measure blood sugar levels, or the blood sugar level, which indicates whether a person has diabetes or not. The demand for diabetes diagnostic devices and systems is driven by the need for easier, economical, and efficient management of the global diabetes epidemic, improvements in the usability and accuracy of the devices, and the development of non-invasive techniques to simplify regular glucose testing. The spread of diabetes on an epidemic level is driving the need for prediabetic testing and postprandial glucose level monitoring. As patients become more educated about possible ways to prevent and delay the onset of type II diabetes, it is expected that more and more prediabetics will begin testing their blood glucose. In addition, patients undergoing testing for complications from undiagnosed medical conditions such as heart attacks should boost market potential. The rise in obesity worldwide, coupled with the growing demands of aging patients, is expected to drive demand for a variety of diabetes diagnostic devices and systems in both institutional and managed care homes. Technological advances in diabetes diagnostics that should benefit market prospects in the near future include mHealth solutions for diabetes diagnostics; portable glucose testing devices; implantable continuous glucose monitor; and cloud-enabled CGM devices, among others.

In the midst of the COVID-19 crisis, the global market for diabetes diagnostics is growing. estimated $ 26.5 billion in 2020 is expected to reach a revised size of $ 42.4 billion until 2026 with a CAGR of 8.1% in the analysis period. Test strips, one of the segments analyzed in the report, is expected to have an 8.3% CAGR and range $ 11.3 billion until the end of the analysis period. After a thorough analysis of the business impact of the pandemic and its triggered economic crisis, growth in the Lancets segment will be adjusted to a revised CAGR of 7.5% for the next 7 year period. Blood sugar test strips are small, single-use plastic strips that allow people with diabetes to measure and monitor their blood sugar levels at home. Each test strip is a plastic and chemical laminate that provides a disposable diagnostic test for measuring blood sugar. The continued growth of the blood glucose test strip market has been driven to a greater extent by an increasing number of diabetics and also by technological innovations. Blood sugar lancets play an important role in the early detection of diabetes. The rising prevalence of diabetes, favorable reimbursement policies in developed countries, growing geriatric populations, continuous technological advances and faster product approvals are some of the key factors driving demand.

The US market is estimated at $ 10.8 billionWhile China is expected to reach $ 5.2 billion by 2026

The market for diabetes diagnostics in the USA is estimated at $ 10.8 billion in 2021. China, the second largest economy in the world, is expected to reach a market size of $ 5.2 billion by 2026 with a CAGR of 9.7% in the analysis period. Other notable geographic markets include Japan and Canada, which will grow by 6.6% and 7.1% respectively over the analysis period. Within Europe, Germany is forecast to grow about 8.1% CAGR. The growing prevalence of diabetes and other lifestyle and chronic diseases, the aging population, well-established health infrastructure and wider access to care services, greater health awareness among the population and the affluence of consumers have a major impact on the demand for care and diagnostic services in industrialized countries . The Asia-Pacific region is a rapidly growing market for diabetes diagnostics. Increased convenience, a shift towards high-calorie, high-energy foods, and an increasingly sedentary lifestyle are contributing to an alarming rise in the incidence of diabetes India and China make the countries with the highest numbers of diabetic adults the global center for the disease.

Segment of the analog glucose monitors $ 5.2 billion by 2026

Analog glucose monitors are traditional blood glucose meters that use a blood sample obtained by pricking a patient’s finger or elsewhere on the body. In the global Analog Glucose Monitors segment United States, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets make a combined market size of $ 2.9 billion in 2020 a forecast size of $ 4.5 billion until the end of the analysis period. China will be one of the fastest growing in this cluster of regional markets. Led by countries like Australia, India, and South Korea, the market in Asia Pacific is expected to be achieved $ 579.9 million until 2026 while Latin America will grow with a CAGR of 7.5% over the analysis period. More

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SOURCE Global Industry Analysts, Inc.