The Future of the Diabetes Care Devices Market to 2016 - The Key Demand Drivers Remain Intact17 May 2010 • by Natalie Aster
The global diabetes care devices market was valued at $10.9 billion in 2009. The market is expected to continue with an increased growth over the next seven years to reach $18 billion in 2016 with a forecast Compounded Annual Growth Rate (CAGR) of 10% during 2009 – 2016.
Diabetes a Burden on Healthcare Spending - Diabetes in the US alone cost an estimated $174 billion in 2007. That is an increase of 32% since 2002, and it means that one in five dollars of the national healthcare spend is spent on someone who has been diagnosed with diabetes.
Reimbursement Issues For New Glucose Monitoring and Insulin Delivery Technologies Restraining the Market - The availability of reimbursement is a strong driver for any medical device market. Reimbursement increases affordability for the patient resulting in increase of revenues for the manufacturer. Currently Medicare and other policies that do not reimburse Continuous Glucose Monitors (CGM) and assert that continuous monitoring of glucose levels in the interstitial fluid does not meet the Technology Evaluation Centers’ (TEC) criteria for reimbursement. Insurance companies such as WellPoint, on the other hand, do provide insurance for CGM.
Disposable Insulin Pumps to Increase Acceptance of Insulin Pumps - The disposable insulin pump market in the US was valued at $31m in 2009. Driven by high acceptance of new technologies in the US and the pumps disposable nature, offering better quality of life, the market witnessed a CAGR of 33% from its inception in 2005 until 2009.
New report “The Future of the Diabetes Care Devices Market to 2016 - The Key Demand Drivers Remain Intact” provides the key data, information and analysis on the global diabetes care devices market. The report provides market landscape, competitive landscape and market trends information on two diabetes care devices market categories - glucose monitoring and insulin delivery. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape, key pipeline products and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
The report provides with:
- Key geographies including the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia and Brazil;
- Global Market size and company share data for three diabetes care devices market categories – glucose monitoring and insulin delivery;
- Annualized market revenues data from 2002 to 2009, forecast forward for 7 years to 2016. Company shares data for 2008;
- Qualitative analysis of key market trends, market drivers and restraints by categories and segments;
- Competitive landscape and key company profiles. Key players covered include Roche, LifeScan, Bayer, Abbott, Becton, Dickinson, Medtronic, Novo Nordisk, Sanofi-Aventis, Eli Lilly, ARKRAY, Terumo, Animas and Smiths Medical;
- Key in-pipeline products and technologies expected to hit the global diabetes care devices market in the near future.
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