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“The diabetes care devices (BRIC) market is projected to grow at a CAGR of 16.2%”
The diabetes care devices (BRIC) market size is projected to reach USD 4.3 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 16.2% during the forecast period. The growth in this market is primarily attributed to the sharp increase in diabetes, increasing awareness of diabetes management due to the rising number of diabetes awareness campaigns and screening camps, favorable national health strategies, and government-led endorsement of medical devices.
“By type, under the insulin delivery devices segment, insulin pens to hold the largest share during the forecast period”
Within the type category, the diabetes care devices (BRIC) market has been segmented into blood glucose monitoring systems, insulin delivery devices, and diabetes management mobile applications. Within the insulin delivery devices segment, insulin pens held the largest share in the market. The increasing affordability of insulin pens, convenience, ease-of-use, and technological advancements in these devices that promote integrated diabetes management support the growth of this segment.
“By end user, the self/ home healthcare segment is expected to grow at a higher rate during the forecast period (2020-2025)”
Based on end user, the diabetes care devices (BRIC) market has been segmented into hospital & specialty clinics and self/home healthcare. The self/home healthcare segment is expected to grow at a higher CAGR due to the increasing awareness of self-management of diabetes, increasing portability of diabetes care devices, and technological innovations that provide real-time insights for patients and healthcare providers for decision-making regarding diabetes control and treatment planning.
“India is projected to grow at the highest CAGR”
China is expected to account for the largest share of the diabetes care devices (BRIC) market in 2019. The large share of this region can primarily be attributed to the sharp increase in the diabetic population in the past decade and endorsements of medical devices by the government. On the other hand, India is expected to witness the highest CAGR during the forecast period due to the increasing government investment in the medical devices industry, high prevalence of type 1 and gestational diabetes cases, and increasing diabetes awareness creation through campaigns and screening camps.
Breakdown of primary participants:
- By Company Type: Tier 1: 30%, Tier 2: 45%, and Tier 3: 25%
- By Designation: C-level: 35%, Director Level: 25%, and Others: 40%
- By Country: Brazil: 30%, India: 30%, China: 15%, Russia: 25%
The report analyzes the various diabetes care devices in the BRIC market and their adoption patterns among end users such as self/home healthcare and hospitals & specialty clinics. It aims at estimating the market size and future growth potential of the diabetes care devices (BRIC) market for different segments, such as type, end user, and country. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
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The report will help established firms, as well as new entrants/smaller firms, gauge the pulse of the market, which, in turn, would help them garner a larger share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following:
- Market Penetration: Comprehensive information on the service portfolios offered by the top players in the diabetes care devices (BRIC) market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the diabetes care devices (BRIC) market
- Market Development: Comprehensive information on the lucrative emerging countries, by type and end user
- Market Diversification: Exhaustive information about new products and recent developments in the diabetes care devices (BRIC) market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and services offered by leading players in the diabetes care devices (BRIC) market