SAN FRANCISCO, June 1, 2016 /PRNewswire/ --
The global diabetes devices market is expected to reach USD 35.5 billion by the year 2024, according to a new report published by Grand View Research, Inc. Major drivers of the market include the growing number of diabetic patients owing to the sedentary lifestyles and unhealthy food habits. The growing demand for the advanced and minimally invasive, diagnostic as well as monitoring devices is expected to propel the market growth during the forecast period.
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The rising awareness with regard to the technologically advanced monitoring tools, such as the continuous glucose monitor, is a crucial factor expected to spur the growth of the market. The demand for affordable monitoring devices in the developed as well as the less-developed countries is expected to propel the market growth of products, such as glucose test strips.
The existence of relatively smooth product approval procedures in most of the developed countries including the U.S and European countries are expected to boost the insulin devices market. The rising popularity of the compact, easy to carry monitoring devices, and the introduction of minimally invasive, highly efficient devices is expected to drive the market growth at a lucrative rate. However, the disparity in the reimbursement policies is primarily challenging the overall growth of this market.
Browse full research report with TOC on "Diabetes Devices Market Analysis By Device Type (Self-monitoring & Diagnostic Devices (Lancets, Analog Glucose Meter, Continuous Glucose Monitor (CGM) And Test Strips)), Delivery Type (Syringes, Pumps, Pens, Injectors) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/diabetes-devices-market
Further key findings from the study suggest:
Grand View Research has segmented the diabetes devices market on the basis of device, type, and geography.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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