The BRIC Diabetes Care Devices Market has witnessed strong growth in the past few years, and is further expected to grow at an approximate CAGR of 6.3% during the forecast period.
The BRIC Diabetes Care Devices Market is largely driven by the increasing number of diabetics across BRIC countries, growing research on diabetes, and increasing international research collaborations. The rising obese population and rapid industrialization and urbanization are further expected to contribute to the growth of this market. However, high cost of diabetes care devices, disparity in reimbursement, availability of alternative treatments, and lack of awareness inhibit the growth of this market.
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Diabetes is a group of metabolic disorders, characterized by high blood glucose levels due to either inadequate insulin production or insulin resistance. Diabetes care devices are used to manage blood glucose levels. There are mainly two types of diabetes care devices, namely, blood glucose monitoring devices and insulin delivery devices.
In BRIC Diabetes Care Devices Market report, the BRIC diabetes care devices industry has been segmented by type into blood glucose monitoring devices and insulin delivery devices. The blood glucose monitoring devices segment is further classified into testing strips, self-monitoring blood glucose meters, lancets, continuous glucose monitors, and others; while, the insulin drug delivery devices segment is subsegmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injectors.
Diabetes Care Devices Market, by Type
Market Drivers of BRIC Diabetes Care Devices Industry:
Market Restraints of BRIC Diabetes Care Devices Industry:
Market Opportunities in BRIC Diabetes Care Devices Industry:
Market Challenges in BRIC Diabetes Care Devices Industry:
Some of the major players in BRIC Diabetes Care Devices Market include:
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Rising diabetic population in BRIC countries and growing adoption of diabetes care devices for management of diabetes and its complications by patients and healthcare professionals will propel the growth of the BRIC diabetes care devices market. China accounted for the largest share of this market in 2014; while, India is expected to witness the highest growth rate during the forecast period.
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The BRIC Diabetes Care Devices Market report provides insights on the following pointers:
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