London, United Kingdom (PressExposure) March 16, 2011 -- The global diabetes care devices market was valued at $16.2 billion in 2010 and is forecast to grow at a Compounded Annual Growth Rate (CAGR) of 6% to reach $24.3 billion in 2017. The increasing prevalence of diabetes globally, especially in the fast-developing economies of India and China will be the main growth driver in the near future. Glucose monitoring devices which are widely being adopted by patients in emerging economies are forecast to grow at a CAGR of 5% to reach revenue of $12.1 billion in 2017. The insulin delivery devices market which was valued at $7.6 billion in 2010 is forecast to grow at CAGR of 7% to reach value of $12.1 billion in 2017, Artificial pancreas can see widespread adoption in the near future. Problems with devices and product recalls will lead to greater safety standards enforced by FDA.
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It is estimated that by 2030, 7 out of the top 10 countries for diabetes populations will be based in Asia. The main contributors to the growing number of diabetics will be India and China. China is said to have an estimated 92.4 million adults with diabetes as compared to 50.8 million people in India, according to the International Diabetes Federation based in Brussels. According to Dr Yang Wenying, head of endocrinology at the China-Japan Friendship Hospital in Beijing, a combination of increasingly elderly populations, rapid urbanization, and nutritional changes along with lack of physical activity are the main reasons behind this growing epidemic of diabetes in China. In India too, growth in income levels and development has led to an increasing sedentary lifestyle and increasing diabetes prevalence at 3.7% of the population and 1.4 million new cases per year, 90% of which have Type 2 diabetes.
GBI Research's new report, "Diabetes Care Devices Market to 2017: Artificial Pancreas to Be the Key Technology Driver for the Market" provides key data, information and analysis on the global diabetes care devices market, a key segment within the medical equipment industry. This medical device report provides market landscape, competitive landscape and market trends information on two diabetes care devices market categories - glucose monitoring and insulin delivery. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape, key pipeline products and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research's team of industry experts.
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