Fortune Business Insights predicts the global diabetes treatment devices market to reach a value of US$ 16,706.4 Mn from US$ 10,826.6 Mn. The forecast period is set from 2018 to 2026, and the market is expected to grow at a CAGR of 5.6%. All information related to the market is provided in the report, titled,”Diabetes Treatment Devices Market Size, Share and Global Trend by Product (Insulin Pens, Insulin Pumps, Insulin Jet Injectors, Insulin Syringes, Others), By Distribution Channel (Institutional Sales (Hospitals, Clinics), Retail Sales (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)) & Geography Forecast till 2026”. The rising prevalence of diabetes on worldwide basis is the main factors propelling growth of the diabetes treatment devices market.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/diabetes-treatment-devices-market-100777
According to the report, the insulin pumps segment is expected to register the highest growth rate in the forecast duration. Insulin Pumps are a sub segment of product segmentation of the global diabetes treatment devices market and their highest growth rate is owing to the ease and compatibility of using insulin pumps for people as compared to their other product counterparts.
Rising healthcare Issues Related to Diabetes Encouraging People to Opt for Diabetic Treatment Equipment
As mentioned earlier, the rising prevalence of diabetic people around the world is a major driver for the diabetes treatment device market. This, coupled with advancement in technology and upgradation of existing devices used for diagnosing diabetes is also fueling its demand in the market. The rising healthcare expenditures for diabetes-related issues, especially in developing nations is propelling the demand for using diabetic equipment such as insulin pens and insulin pumps. This is further expected to drive the market in the coming years.
However, the market may face challenges, such as high cost of devices used for treating diabetes which may discourage people from opting these devices. In addition to that, the presence of traditional diabetes treatment methods such as regular allopathic medicines, restricted diet and others may also stop people from adopting the trial and testing methods of controlling diabetes. Furthermore, lack of reimbursement policies, especially in emerging nations may also hamper the market in the long run.
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