Canada Diabetes Devices Market - Growth, Trends, and Forecasts (2017 - 2022)
Canada’s market for diabetes devices is expected to reach USD 4.85 billion by the end of 2021. The market is projected to grow at a CAGR of nearly 6.14% for the duration 2016-2021. North America is the dominating market in the current scenario, with the USA accounting for more than one-thirds of the global market share. Following North America is Europe. The Asia-Pacific market is likely to be of more interest in the near future it is in its growing phase and is expected to dominate the market, owing to the large patient pool in this region. This escalation is developing the need to analyze, review and forecast the growth of the diabetes devices market. Owing to the rapid evolution of the market in the use of glucose monitoring device, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits. Canada Diabetes Devices Market-Market Dynamics The report details several factors driving and restraining the market. Some of these are listed below. Drivers Some of the factors contributing to the growth of the market are: Large patient pool suffering from diabetes Rapid innovation in developing new technologies Increased R&D in diabetes Increasing awareness Improving diagnosis & treatment rates Restraints Patent expiries, lack of proper reimbursement policies and expensive diagnosis and treatment procedures are the major restraints on the diabetes care devices market. The report studies in detail the markets for different diabetes care devices, which include glucose monitoring devices (blood glucose meters, lancets, blood glucose testing strips, continuous glucose monitoring devices) and insulin delivery devices (insulin syringes, insulin pumps, insulin pens and injection). Glucose monitoring devices currently dominate the market. What the Report Offers Market analysis for Canada’s diabetes devices market, with region-specific assessments and competition analysis on the global and regional scale. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share for the next five years. Identification and analysis of the macro and micro factors that affect the market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped. The various applications of diabetes devices have been discussed in detail, in addition to a comprehensive overview of the market.