Medtronic plc emerges as the largest company in the diabetes devices market, says TBRC report (Companies: Medtronic plc, Roche Holding AG, Johnson & Johnson, Sanofi, Becton, Dickinson and Company)
The global diabetes care devices market was valued at $28 billion in 2018. North America is the largest market for diabetes care devices companies, accounting for 46.8% of the global market.
The diabetes care devices market consists of sales of diabetes care devices and related services by entities (organizations, sole traders and partnerships) that manufacture diabetes care devices used to monitor blood glucose levels in diabetic patients. Global growth in the diabetes care devices market in the historic period resulted from increasing diabetes prevalence and economic growth. Factors that negatively affected growth in the historic period were lack of awareness, low healthcare access and preference for oral treatment. Going forward, government initiatives and technological development will drive the growth. Factors that could hinder the growth of this market in future are an increasing availability of alternative treatments and government regulations.
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Diabetes Care Devices Market Size
The global diabetes devices market size is expected to grow to over $38 billion in 2022 at an annual rate of about 7%. Global growth in the historic period resulted from the increase in diabetes prevalence and economic growth.
Medtronic plc was the largest competitor with around 8% of the diabetes care devices market, followed by Roche Holding AG with over 7%, Johnson & Johnson (J&J) with 6%, followed by Sanofi and Becton, Dickinson and Company (exact figures are mentioned in report).
Medtronic plc, is a medical technology, services and solutions company, and serves hospitals, physicians, clinicians and patients in approximately 160 countries worldwide. The company is engaged in the development, manufacture, distribution and sales of device-based medical therapies. Medtronic plc was established in 1949 and is headquartered in Dublin, Ireland.
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Company profiles included in the diabetes care devices market report are Medtronic plc, Roche Holding AG, Johnson & Johnson (J&J), Sanofi, Becton, Dickinson and Company and Abbott Laboratories.
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