The global diabetes care devices market, one of the segments
of healthcare services industry. During the historic period it grew at a
compound annual growth rate (CAGR) of around 6%. This was mainly due to the
increased diabetes prevalence.
For the forecasted period, the diabetes care devices market size
is expected to be over $15 billion by 2021, growing at a CAGR of nearly 4%. The
growth rate for forecasted period is lower when compared to the historic
period. This is mainly attributed to fluctuating prices of raw materials.
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Governments around the world are investing in programs to
help raise the awareness of diabetes. The US State Department’s National
Institutes of Health and Centers for Disease Control and Prevention jointly
launched the National Diabetes Education Program to educate and sensitize
people about the risks and prevention of diabetes. In 2015, National Health
Service, UK, and Public Health England initiated the first National NHS
Diabetes Prevention Program that aims to reduce the 4 million people in the UK
expected to have Type 2 diabetes by 2025. Government initiatives thereby drives
the demand for diabetes care equipment during the forecast period.
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