Global diabetes diagnostics market to reach $42.4 billion by 2026

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Editing: 19; Published: February 2022
Executive commitments: 9091
Companies: 91 – Players covered include A.Menarini Diagnostics Ltd. ; Abbott Diabetes Care, Inc.; Acon Laboratories, Inc.; AgaMatrix, Inc.; Apex biotechnology company; ARKRAY, Inc.; Ascensia Diabetes Care Holdings SA; B. Braun Melsungen AG; Becton, Dickinson and company; BIONIME company; Bio-Rad Laboratories, Inc.; Danaher Corporation; Coulter Beckman, Inc.; HemoCue® AB; DexCom, Inc.; Diazyme Laboratories Inc.; EKF Diagnostics Holdings Plc; LifeScan, Inc.; Medtronic APIs; Nova Biomedical Corporation; OSANG Healthcare Co., Ltd. ; Roche Diabetes Care, Inc.; Sanofi SA; Sanwa Kagaku Kenkyusho Co, Ltd. ; Siemens Healthineers; Sinocare, Inc.; PTS diagnostics; Trividia Health, Inc.; TaiDoc Technology Corporation; Tandem Diabetes Care, Inc.; Terumo Company; Tosoh Bioscience, Inc.; Trinity Biotech plc; Ypsomed AG and others.
Blanket: All major geographies and key segments
segments: Product type (test strips, lancets, analog glucose monitors, continuous glucose monitors, syringes, pens, pumps, injectors); End use (hospitals, home care, diagnostic centers, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.

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ABSTRACT-

Global diabetes diagnostics market to reach $42.4 billion by 2026
Diabetes diagnostic systems are used to measure blood sugar or blood sugar, which indicates whether or not a person has diabetes. The demand for diabetes diagnostic devices and systems is driven by the need for simpler, cheaper and more efficient management of the global diabetes epidemic, improved ease of use and accuracy of devices and the development of non-invasive techniques to simplify regular blood glucose testing. . The spread of diabetes to epidemic proportions drives the need for pre-diabetic testing and post-prandial blood glucose monitoring. With increasing levels of patient education about possible ways to prevent and delay the onset of type II diabetes, it is expected that more and more prediabetics will start testing their blood sugar. Additionally, patients undergoing testing due to complications resulting from an undiagnosed condition such as heart attacks are likely to drive the market potential. Rising levels of obesity globally coupled with increasing demands of aging patients in geriatric care facilities as well as managed home care facilities is also expected to drive the demand for various diagnostic devices and systems diabetes. Technological advancements in diabetes diagnostics that are poised to benefit the near-term market outlook include mHealth solutions for diabetes diagnostics; portable glucose testing devices; implantable continuous glucose monitor; and cloud-enabled CGM devices, among others. Painless alternatives for insulin dosing such as pills, patches and inhalers are poised to transform diabetes care and encourage greater compliance, as opposed to the traditional, painful way of injecting insulin.

Amid COVID-19 Crisis, Global Diabetes Diagnostics Market Estimated at US$30.8 billion in 2022, is expected to reach a revised size of US$42.4 billion by 2026, growing at a CAGR of 8.1% over the analysis period. Test strips, one of the segments analyzed in the report, is expected to register a CAGR of 8.3% and reach US$11.3 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Lancets segment is readjusted at a revised CAGR of 7.5% for the next 7-year period. Blood glucose test strips are small disposable plastic strips that allow people with diabetes to measure and monitor their blood sugar levels at home. Each test strip is a plastic and chemical laminate that provides a single-use diagnostic test for measuring blood sugar. The persistent growth of the blood glucose test strips market has been driven to a greater extent by an increase in the number of diabetics, but also by technological innovations. Blood glucose lancets play a vital role in the early detection of diabetes. Rising prevalence of diabetes, favorable reimbursement policies in developed countries, increasing geriatric population, continuous technological advancements and accelerating product approvals are some of the major factors driving the demand.

The US market is estimated at $11.7 billion in 2022, when China is expected to reach $5.2 billion by 2026
The Diabetes Diagnostics Market in the United States is estimated at US$11.7 billion in the year 2022. Chinathe second largest economy in the world, is expected to reach a projected market size of US$5.2 billion by 2026 with a CAGR of 9.7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 6.6% and 7.1% respectively over the analysis period. In Europe, Germany is expected to grow at approximately 8.1% CAGR. The growing prevalence of diabetes and other chronic and lifestyle diseases, an aging population, a well-established health care infrastructure and wider access to care services, increased health care awareness among population and consumer affluence strongly influence the demand for healthcare and diagnostic services in developed countries. Asia-Pacific represents a growing market for diabetes diagnostics. Greater convenience, a shift to calorie-dense, energy-dense foods, and increasingly sedentary lifestyles are contributing to an alarming rise in the incidence of diabetes in India and China making these countries the global hub of the disease with the highest number of adults with diabetes.

Segment of analog glucose monitors to reach $5.2 billion by 2026
Analog glucometers are traditional blood glucose meters that use a blood sample taken by pricking a patient’s finger or another location on the body. In the global analog glucometer segment, United States, Canada, Japan, China and Europe will drive the CAGR of 6% estimated for this segment. These regional markets representing a combined market size of US$2.9 billion will reach a projected size of US$4.5 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$579.9 million by 2026, while Latin America will grow at a CAGR of 7.5% over the analysis period. Continued

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