North America Diabetes Care Devices Market-Market Dynamics
North America is the major market for the global diabetes care devices and is expected to dominate this market during the forecast period. A study reveals that 1.4 million Americans are diagnosed with diabetes every year and more than 29 million people (20-79 years) in the United States have diabetes. Also, diabetes remains the 7th leading cause of death in the United States. As per a report, in North America, the healthcare expenditure due to diabetes was estimated at 263.2 billion USD for 2013.
The report details several factors driving and restraining the market. Some of these are listed below.
Some of the factors driving the market towards growth are:
Increasing incidence of diabetes
Increased R&D activities in diagnosis and treatment of diabetes
Lifestyle changes induced obesity
Some of the factors limiting the market growth are:
High cost of diabetes care devices
Lack of awareness
The market for diabetic care devices is mainly segmented based on products, which include blood glucose monitoring devices (continuous glucose monitors, self-monitoring blood glucose meters, infusion sets, testing strips, lancets and other glucose products) and insulin delivery devices (insulin pumps, insulin syringes, insulin jet injectors and insulin pens). Insulin syringes and pumps generated USD 3 million and the market for blood glucose measuring/monitoring devices is approximately USD 16 million. The glucose monitoring devices market is estimated to dominate the market, followed by the insulin delivery devices market. The blood glucose measuring device market is growing at a rate of approximately 11% annually. 99% of the market share belongs to the classic finger prick method where capillary blood is tested via a test strip that is inserted into the reading device.
Based on geography, the market is segmented into the US, Canada, and Mexico. The US is the major market share holder for the North America diabetes care devices market. Conventional glucose monitoring has estimated worldwide expenditures of USD 7 to USD 10 billion, with half of the sales occurring in the US alone.
Many players in this market are trying to expand their product portfolio in order to top the global market. While a few companies are entering the market by acquisitions, top companies are expanding their growth in this market by acquiring other companies. Some companies have adopted product innovation and new product launches as their key business strategy to ensure their dominance in this market. The global diabetes care devices market is dominated by Roche Diagnostics. Novo Nordisk and Elli Lilly have been the market leaders in insulin pens. Medtronic is one of the upcoming players in the market and the sales of its insulin pumps in North America are relatively high.
Some of the key players in this market are:
Market analysis for the North America diabetes care devices market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the North America diabetes care devices market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
1.1 Report Description
1.2 Research Methodology
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
3.1 Market Size Estimation
3.2 Market Trends and Forecasts
3.3 MARKET DRIVERS
3.3.1 Global rise in diabetic population
3.3.2 Increased R&D activities in diagnosis and treatment of diabetes
3.3.3 Technological innovations
3.3.4 Chronic diseases associated with diabetes patients
3.4 MARKET RESTRAINTS
3.4.1 High cost associated with diagnosis and treatment
3.4.2 Reimbursement issues
3.4.3 Patent expiry depleted profit of market
3.5 MARKET OPPORTUNITIES
3.5.1 Developments of new formulations and technologies for delivery of insulin
3.5.2 Strong pipeline and development of molecules
3.5.3 Non-invasive diabetes diagnostic and drug delivery devices
3.6 PorterFive Force Analysis of the Global Diabetes Care Devices Market
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of substitutes
3.6.4 Threat of new entrants
3.6.5 Competitive rivalry
4. GLOBAL DIABETES CARE DEVICE MARKET- SEGMENTATION
4.1 GLUCOSE MONITORING DEVICES
4.1.1 Blood Glucose Meter
4.1.2 Blood Glucose Testing Strips
4.1.4 Continuous Glucose Monitoring Devices (CGM)
4.2 INSULIN DELIVERY DEVICES
4.2.1 Insulin Syringes
4.2.2 Insulin Pens
4.2.3 Insulin Pumps
4.2.4 Insulin Injectors
4.3 BY COUNTRY WISE
5. COMPETITIVE ANALYSIS
5.2 Mergers & Acquisitions
5.4 New Product Launches
6. COMPANY PROFILES
6.1 Abbott diabetes care
6.2 Bayer AG
6.3 F. Hoffmann-La Roche Ltd.
6.5 Medtronic, Inc.
6.6 GlaxoSmithKline PLC
6.7 MannKind Corporation
6.8 Echo Therapeutics, Inc.
6.9 Epinex Diagnostics Incorporated
7 .1. Abbreviations
7 .2. Sources