Diabetes has quickly become one of the most commonly occurring illnesses across the globe. It is a medical condition wherein the human body is incapable of processing the various forms of sugar consumed. That can happen in two ways; one is when the body cannot produce sufficient insulin, which is known as Type-I diabetes, and the second where the body cannot use the produced insulin to break down sugars, which is known as Type-II diabetes. Common symptoms of diabetes arise when the blood sugar levels are higher than recommended. These symptoms include frequent urination, increased thirst and appetite, and weight loss. Diabetes often needs constant medical attention, as failure to maintain blood sugar levels can lead to life-threatening consequences. The most efficient way to do that is to make use of diabetes devices.

Global Diabetes Devices Market Boosted by High Number of Diabetics

The greatest reason for the high CAGR exhibited by the global diabetes devices market is the rapid ongoing additions to an already high number of people affected by diabetes. This has caused a higher demand for all types of drugs and devices linked to the treatment and management of diabetes. The global diabetes devices market has undergone an extensive array of research and development activities in the past few decades, all for the sake of furthering the drugs and treatment options available for this disease.

The global diabetes devices market is progressing at a CAGR of 5.90% within the forecast period of 2014 to 2019. The value of this market was recorded at US$54 bn in 2012 and is expected to reach US$83bn by the end of 2019. The key players in the global diabetes devices market are Novo Nordisk A/S, Medtronic, Inc., Abbott Laboratories, Inc., Sanofi, Takeda Pharmaceutical Company Limited, Novartis International AG, Boehringer Ingelheim GmbH, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc., B. Braun Melsungen AG, Lupin Limited, Bayer HealthCare AG, Eli Lilly and Company, Merck & Co., Inc., Dickinson & Company, Becton, Johnson & Johnson, DexCom, Inc., and AstraZeneca plc.

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SGLT-2 Inhibitors Show Remarkable Growth Rate

The global diabetes devices market is segmented on the basis of therapy into insulin, oral anti-diabetes drugs class, and non-insulin injectable anti-diabetes drugs. Sub-segments of the insulin segment include long-action insulin derivatives, which dominated the global diabetes devices market in 2012 with a share of 42.77%. This sub-segment is also expected to retain its dominance till 2019, owing to the fastest growth rate within the insulin segment.

The segment of oral anti-diabetes drugs class is further divided into multiple sub-segments, including Thiazolidinediones, Biguanides, Alpha-glucosidase inhibitors, and SGLT-2 inhibitors. Among the various sub-segments, SGLT-2 inhibitors is expected to expand at a massive CAGR of 76.80% from 2013 to 2019.

North America Leads Global Diabetes Devices Market

From a regional perspective, the global diabetes devices market has been consistently dominated by North America in the recent past, owing to a high number of diabetic patients, coupled with the presence of advanced research and medical facilities owned by some of the leading players in the global medical devices industry. On the other hand, Asia Pacific is expected to show the fastest growth rate in the global diabetes devices market till 2019, owing to a rapidly developing healthcare infrastructure, the increase in public awareness, and the improved market penetration of various diabetes devices.

The future of the global diabetes devices market could be decided by the growth shown in Asia Pacific. Meanwhile, some of the greater breakthroughs in the treatment of diabetes and the use of diabetes devices are being made in the developed regions of Europe and North America.

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