The diabetic population is rising with over 45 million patients diagnosed in the Unites states and Europe. Poor health management and high sugar diets are the main driving factor for this.
Vancouver, BC -- (ReleaseWire) -- 11/26/2019 --According to the World Health Organization (WHO), the presence of diabetes is more rapidly rising in middle- and low-income countries. What's more, iData Research has found that just in the united states alone, there are nearly 30 million patients suffering from diabetes, and that number is expected to rise to nearly 40 million by 2025.
One of the major complications with diabetes is hypoglycemia. This refers to when the patient's glucose, or blood sugar levels are much higher than normal, due to the body either not being able to produce or use an adequate amount of insulin. Flash glucose monitoring (FGM), is a new market segment that is a hybrid of blood glucose monitoring (BGM) and continuous glucose monitoring (CGM).
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"New innovations like FGM have been featured in clinical trials that showed how hypoglycemia in both type 1 and type 2 diabetics could be significantly reduced," says CEO of iData Research, Kamran Zamanian. "The diabetic population is expected to grow, primarily due to poor health management and high sugar diets. The market is currently valued at over $15 billion, and because diabetic care products are expected to sustain growth, it is projected to reach $16.5 billion by 2025"
Top Competitors in The Diabetes Monitoring, Treatment and Drug Delivery Market
The leading competitor in the diabetes care market is Novo Nordisk, which is attributed to its leading position in the insulin market and second-leading position in the insulin pen needle market.
Another notable competitor is Abbott. They are currently the only company in the FGM market. As a result, Abbott has strong control over the dynamics of the market and are able to adjust their strategy accordingly to new events in the CGM or BGM markets.
For Further Market Information
More insights like this on the U.S. and European market (16 Countries) can be found in a 754 page series of reports published by iData Research entitled the Diabetes Market Analysis, Size, Trends 2019-2025 | MedSuite
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iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries.