F. Hoffman-La Roche Ltd. (Switzerland), LifeScan (US), Medtronic plc (Ireland), and Abbott (US) are the leading players in the Diabetes Care Devices Market
The diabetes care devices (BRIC) market size is projected to reach USD 4.3 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 16.2% during the forecast period. The increasing prevalence of diabetes, rising awareness of diabetes management, and increasing affordability of diabetes care devices will ensure its greater adoption in the coming years.
Players in the diabetes care devices (BRIC) industry such as Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc. (US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Ascensia Diabetes Care Holdings AS (Switzerland), LifeScan (US), AgaMatrix Holdings LLC (US), Acon Laboratories, Inc. (US), ARKRAY USA, Inc. (US), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo Corporation (Japan), SD Biosensor, Inc. (South Korea), MicroGene Diagnostic Systems Pvt. Ltd. (India), Ypsomed (Switzerland), Dr. Morepen (India), Sinocare, Inc. (China), Bionime Corporation (Taiwan), and Rossmax International Ltd. (Taiwan) are focusing on increasing their presence in high-growth markets through both organic as well as inorganic growth strategies, including service launches, expansions, collaborations, and partnerships. Due to the intense competition in this market, market players are increasingly focusing on expansions, collaborations, and partnerships to strengthen their competitiveness in the market.
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F. Hoffman-La Roche Ltd (US) was the leader in the diabetes care devices (BRIC) market in 2019. The company provides a wide range of blood glucose monitoring systems, insulin delivery devices, and diabetes management mobile applications. It entered into various partnerships, agreements, and collaborations over the past few years. For instance, in November 2018, Roche Diabetes Care (India) partnered with the digital therapeutic company, Wellthy Therapeutics, to offer users the Accu Chek Active System, a clinically validated AI-based digital diabetes coaching solution. Similarly, in October 2018, Roche Diabetes Care signed an agreement for collaboration with Novo Nordisk to integrate data from Novo Nordisk’s insulin pens to Roche’s open ecosystem.
LifeScan (US) held the second position in the diabetes care devices (BRIC) market. The company is one of the leading players in the market due to its vast product portfolio. LifeScan has been investing in organic and inorganic growth strategies to expand its service portfolio and broaden its geographical footprint. For instance, in May 2019, the company entered into a non-exclusive agreement with Sanvita Medical, LLC (India), to market continuous glucose monitoring (CGM) sensors.
Related Reports:
Diabetes Care Devices Market by Type (SMBG, CGMS, Lancets, Insulin Pumps, Insulin Pens, Insulin Syringes, Mobile Apps), Patient Care Settings (Hospitals & Specialty Clinics, Self & Home Care), and Country (Brazil, Russia, India, China) - Forecast to 2025
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