Diabetes Business News

SOURCE: MarketResearch.com

May 24, 2011 09:08 ET

Diabetes Device Market to Reach $24 Billion by 2017 

ROCKVILLE, MD--(Marketwire - May 24, 2011) - MarketResearch.com has announced the addition of Business Insights's new report "The Diabetes Device Market Outlook to 2017," to their collection of Diseases & Conditions market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6207072 

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.

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. 

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Diabetes Device Market