The Asia-Pacific diabetes devices market was valued at $3.5 billion in 2016 and is expected to witness a growth around 6% during the forecast period of 2017 to 2024. Diabetes is a metabolic disorder that occurs due to high sugar levels in blood, which are caused by either defect in body’s ability to produce sufficient amount of insulin or incapability of body cells to respond to insulin. Based on the cause of development, diabetes is classified into three types, including Type 1 diabetes (pancreas stops producing insulin), Type 2 diabetes (body cells do not respond to the insulin) and Type 3 gestational diabetes (which occurs in pregnant women). Among these, Type 2 diabetes is the most common form of diabetes, occurring approximately 90% of total patients. Type 1 diabetes is usually diagnosed in children and young adults, which has been treated by injection of insulin. Type 2 diabetes commonly affects older adults and youth; however, it can be initially managed with exercise and diet. During the course of time, most patients need oral medication for the treatment. The International Diabetes Federation (IDF) estimated that the number of diabetes patients would reach to around 640 million by 2040 from 415 million in 2015. In addition, IDF estimated that the global healthcare expenditure on diabetes care would surpass $802 billion by 2040 from $673 billion in 2015, which represents 12% of the overall healthcare spending.
The Asia-Pacific diabetes devices market is segmented based on the type of device. Based on type of device, the market is segmented into monitoring devices (SMBG and CGM), and treatment devices (manual insulin injection devices and pumps). This research report is designed to analyze and estimate the performance, market demand, and size of the Asia-pacific diabetes devices market. This report includes historical data and forecasts, along with the information on market size, value chain, product sales, pipeline products and various other key factors that are boosting or impeding the growth of this market. The major factors driving this market include rising awareness about the advanced treatment products, increasing number of patients with diabetes, growing demand for minimally invasive and non-invasive treatment options, technological advancements, and improving healthcare infrastructure in the emerging markets. In addition, growing supportive government policies and increasing demand from the emerging countries are further expected to drive the market growth.
Currently, the cost associated with diabetes-related procedures/treatment is enormous and continuously growing. Globally, North America has the highest diabetes healthcare expenditure, while Africa has the lowest expenditure among all the regions. The combined diabetes spending in the United States, China and Germany, contributed to almost 60% of global healthcare expenditure on diabetes, which accounts for only 35% of total diabetes population. Whereas, the country (India) with second highest number of diabetes population across the globe, spent only 3% of total expenditure on diabetes. Considering all these factors, there is a huge growth and market opportunity in emerging markets for the companies operating in this market.
The company profile section include detailed analysis of some of the key players such as Abbott Laboratories, AstraZeneca plc, B. Braun Melsungen AG, Bayer HealthCare AG, Becton, Dickinson and Company, Johnson & Johnson, Medtronic, Roche, DexCom, Insulet, Sanofi, and Novo Nordisk.