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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Diabetes Diagnostics market. Market segmentation includes Product Type (Test Strips, Lancets, Analog Glucose Monitors, Continuous Glucose Monitors, Syringes, Pens, Pumps, Injectors); End-Use (Hospitals, Home Care, Diagnostic Centers, Other End-Uses).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 2:26 a.m., Silicon Valley, California - According to the new market research report, the global market for Diabetes Diagnostics is projected to grow at a CAGR of 8.1% reach US$45.6 Billion by 2027, driven by the alarming rise in diabetes cases around the world and the need for timely diagnosis and monitoring of the disease. The global Diabetes Diagnostics market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Test Strips, one of the segments analyzed and sized in this study, is forecast to grow at over 8.3% and reach a market size of US$11.3 billion by the end of the analysis period. The United States is forecast to readjust to a 7.6% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$3.2 billion growing at a CAGR of 8.1% over the next couple of years. In addition, over US$616.9 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Test Strips segment will reach a market size of US$465 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Test Strips segment in this country against this backdrop will grow at a CAGR of 10.1% over the next couple of years to create an addressable market opportunity worth US$2 billion by the year 2027.

Diabetes is a major area of concern. Studies indicate that diabetes is the major causative factor for cardiovascular and other diseases. Diabetes diagnostics systems are used to measure blood glucose levels or blood sugar levels, which indicates whether or not a person is suffering from diabetes. The global market for diabetes diagnostics devices and systems is being driven by the need for easier, economic, and efficient management of the global diabetes epidemic, improving ease-of-use and accuracy of devices, and development of non-invasive techniques to simplify regular glucose testing. The spread of diabetes at epidemic proportions is driving the requirement for pre-diabetics testing and post-prandial glucose-level monitoring. Several million cases of Type II diabetes go undiagnosed all over the world, and millions more hereditarily or otherwise are likely to be afflicted with diabetes. With increasing levels of patient education on possible ways of preventing and delaying the onset of Type II diabetes, more and more pre-diabetics are expected to start testing blood glucose. With diabetes patients becoming increasingly aware that high post-prandial blood glucose levels lead to glycosylation of hemoglobin and other proteins, subsequently triggering complications such as neuropathy, retinopathy, and cardiovascular diseases, the propensity of increased post-prandial testing will continue to fuel demand for diabetes diagnostics devices and systems. The sizeable pool of diabetic patients as well as fast increase in the uptake of advanced, minimally invasive or non-invasive products such as Integrated CGM (Continuous Glucose Monitoring) Systems is expected to fuel growth in the global diabetes diagnostics market. The integration of advanced biocompatible product designs as well as small-scale electronics is offering optimistic prospects for the emergence of non-invasive glucose monitors. Non-invasive glucose monitors integrate electronics, the sensing element as well as a power source within one package for providing new alternatives to diabetes patients and caregivers across the globe.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 9091. Among this pool, 1273 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 273 unique participations, a total of 123 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
B. Braun Melsungen AG
Becton, Dickinson and Company
Beckman Coulter, Inc.
Bio-Rad Laboratories, Inc.
ACON Laboratories, Inc.
ARKRAY, Inc.
AgaMatrix, Inc.
Abbott Diabetes Care
Apex Biotechnology Corporation
A. Menarini Diagnostics Ltd.
BIONIME Corporation
Ascensia Diabetes Care Holdings AG

Segments Covered in the Report -
Product Type (Test Strips, Lancets, Analog Glucose Monitors, Continuous Glucose Monitors, Syringes, Pens, Pumps, Injectors)
End-Use (Hospitals, Home Care, Diagnostic Centers, Other End-Uses)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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