DUBLIN, March 22, 2023 /PRNewswire/ -- The "Diabetes Diagnostics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Diabetes Diagnostics Market to Reach $59.4 Billion by 2030
The global market for Diabetes Diagnostics estimated at US$30.8 Billion in the year 2022, is projected to reach a revised size of US$59.4 Billion by 2030, growing at a CAGR of 8.6% over the analysis period 2022-2030.
Test Strips, one of the segments analyzed in the report, is projected to record a 8.7% CAGR and reach US$14.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lancets segment is readjusted to a revised 7.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $11.7 Billion, While China is Forecast to Grow at 10.1% CAGR
The Diabetes Diagnostics market in the U.S. is estimated at US$11.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2030 trailing a CAGR of 10.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 7.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.7 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Topics Covered:
Influencer Market Insights
World Market Trajectories
Impact of COVID-19 and a Looming Global Recession
Technologies Come to the Aid for Diabetes Diagnosis, Monitoring and Management
Diabetes: A Chronic Body Disorder
An Introduction to Diabetes Diagnostics
Diabetes Diagnostics: Easier, Economic, and Efficient Management of the Global Diabetes Epidemic
Developed Regions Lead, Developing Economies to Spearhead Future Growth
Increase in Number of Hospitals & Diagnostics Centers Augurs Well for Market in Developing Regions
Alarming Levels of Diabetes Incidence Worldwide Drives Demand for Diabetes Diagnostic Devices
Diabetes Emerges as One of the Leading Causes of Mortality
Quality Products at Low Prices: Mantra for Success in the Marketplace
SMBG Makers Turn to Mobile Devices to Woo Users on the Move
Recent Market Activity
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
MARKET TRENDS & DRIVERS
High Risk of Diabetes in the Fast Expanding Aging Population Benefit Market Expansion
Increasing Healthcare Expenditure Aids Diabetes Diagnostics & Testing Market
Increasing Obesity Levels Underpins Market Growth
Average Per Capita Annual Health Expenditure (In US$) due to Obesity
Rising Importance of Real-Time Glucose Sensing and Monitoring Drive Robust Growth in Minimally-Invasive CGM Devices Market
CGM Demand Benefits from the COVID-19 Pandemic
CGM Market Breaks through Barriers to Witness Growing Adoption
Growing Role of HbA1c Testing Devices in Monitoring & Management of Diabetes
Rising Popularity of Near Patient Testing Benefits HbA1c Devices Market
Myriad Benefits of POC HbA1c Tests over Lab Tests Drives Widespread Adoption
Glycated Albumin: A Potential Threat to HbA1c
Role of HbA1c Testing in Diabetes Diagnosis and Management
HbA1c Tests for Diabetes Diagnosis Need to Address Issues Related to Hemoglobin Variants
Glycosylated Hemoglobin Tests Pave the Way for Early-Stage Diabetes Diagnosis
Despite Competition from CGM Systems and HbA1c Testing Devices, BGM Devices Continues to Witness Demand Growth
Blood Glucose Strips: Low Cost Advantage Augurs Drives Market
Blood Sugar Lancets Market: Sustained Growth in Demand
Self-Monitoring/Household Blood Glucose Sustains Market Growth
Rising Smartphone Penetration Augurs Well for SMBG Market
Smartphone Penetration Rate as Share of Total Population: 2016-2020
Barriers to Adoption of New Technology in BGM Products
Accuracy Issues Plague Blood Glucose Meters Market
Insulin Pens Rise in Popularity for Administering Insulin
Smart Insulin Pens
Increasing Role of Self-Injection Devices in Diabetes Management
Prefilled Syringe Pen Injectors
Human Factors Influence the Design of Self Injection Systems
Pain Free Shots: A Growing R&D Domain
Undiagnosed Diabetes Emerges as a Major Healthcare Challenge, Translates into Untapped Potential for Diabetes Diagnostics Market
Increased Vulnerability of Diabetics to Various Health Complications Boosts Demand for Diagnostic Devices
Innovations & Product Advancements: Prime Focus Area for Vendors
Focus on Development of Wearable Devices
An Insight into Intriguing Advances in Blood Glucose Monitoring Techniques
Companies Develop Innovative Needle-Free Alternatives
mHealth Solutions for Diabetes Diagnosis
Non-invasive Wearable Glucose Testing Devices
Innovations in Insulin Pumps
FOCUS ON SELECT PLAYERS (Total 91 Featured)
A.Menarini Diagnostics Ltd.
Abbott Diabetes Care, Inc.
Acon Laboratories, Inc.
Apex Biotechnology Corporation
Ascensia Diabetes Care Holdings AG
B. Braun Melsungen AG
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
Beckman Coulter, Inc.
Diazyme Laboratories Inc.
EKF Diagnostics Holdings Plc
Nova Biomedical Corporation
OSANG Healthcare Co., Ltd.
Roche Diabetes Care, Inc.
Sanwa Kagaku Kenkyusho Co, Ltd.
Trividia Health, Inc.
TaiDoc Technology Corporation
Tandem Diabetes Care, Inc.
Tosoh Bioscience, Inc.
Trinity Biotech plc
For more information about this report visit https://www.researchandmarkets.com/r/8leahi
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