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Global Diabetes Therapeutics and Diagnostics Set to Hit $132.0 Billion in 2028- Insights from BCC Research

Diabetes News

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Latest Study Forecasts Global Diabetes Therapeutics and Diagnostics Market to Surge to $132 Billion by 2028, Growing at a 5.2% CAGR

BOSTON, Jan. 16, 2024 /PRNewswire/ — The global market for diabetes therapeutics and diagnostics is experiencing remarkable growth, poised to reach $132.0 billion by 2028. Fueled by increasing diabetes prevalence and technological advancements, this market is at the forefront of healthcare innovation. In this overview, we explore the key factors propelling its expansion, highlighting the intersection of research, pharmaceutical development, and diagnostic technologies shaping the landscape of diabetes management worldwide. Join us as we navigate the dynamic trends and impactful solutions driving the global markets for diabetes therapeutics and diagnostics.

“According to the latest research study, the demand for Global Markets for Diabetes Therapeutics and Diagnostics to increase from $102.2 billion in 2023 to reach $132.0 billion by 2028, at a compound annual growth rate (CAGR) of 5.2% from 2023 through 2028.”

This comprehensive report delves into the far-reaching implications of current trends within the diabetes therapeutics and diagnostics market, offering insights into the market’s size, growth trajectory, and its impact on both global and key national markets. A thorough exploration of pharmaceutical and medical industry players is provided, including profiles of industry leaders and updates on mergers and acquisitions. The report further includes a detailed discussion on competitive intelligence, innovative technologies, market dynamics, and regional opportunities. Notably, it furnishes five-year global sales forecasts for leading drug and device categories, complemented by country-level breakdowns. The analysis extends to major players’ recent developments and product portfolios, with a keen focus on patent analysis to highlight technological trends across the U.S., Europe, and Japan. The market analysis culminates in estimates of the compound annual growth rate (CAGR) for the diabetes therapeutics and diagnostics market. Geographically, the report segments the global market into North America, Europe, Asia-Pacific, and the Rest of the World, utilizing 2022 as the base year for market estimates, projecting through year-end 2028.

The Diabetes Delivery Devices segment has experienced exceptional growth, particularly fueled by technological advancements like implantable insulin delivery pumps and external insulin pumps. Notably, the integration of wireless technology and miniaturization in medical device components is anticipated to spur innovation in diabetes care devices, thereby propelling market growth throughout the forecast period. The adoption of cutting-edge technologies such as 3D printing, artificial intelligence, and big data analytics in device manufacturing is contributing to reduced operating costs and enhanced product quality. Within the Asia Pacific region, India stands out with the highest growth rate, propelled by supportive government policies, increased awareness about diabetes, and the presence of dedicated associations and societies for diabetes control and monitoring. This growth trajectory positions India as a key player in the region, potentially surpassing the pace observed in the U.S. and other nations in the Asia Pacific region.

Discover More: Dive into the Details of the Global Markets for Diabetes Therapeutics and Diagnostics Market’s Growth Trajectory and Future Prospects. Click Here to Learn More

Driving forces behind the global markets for diabetes therapeutics and diagnostics market’s insights growth comprises:

  1. Increasing incidence & prevalence of diabetes- The increasing incidence and prevalence of diabetes globally have become a significant public health concern. The World Health Organization (WHO) estimates that the number of people with diabetes has risen sharply over the past few decades, reaching an alarming prevalence. Factors such as sedentary lifestyles, unhealthy dietary habits, and rising obesity rates contribute to the surge in diabetes cases. The condition not only poses immediate health risks but also leads to long-term complications such as cardiovascular diseases, kidney failure, and blindness. The economic burden of diabetes on healthcare systems is substantial, emphasizing the urgent need for effective preventive measures, education, and accessible healthcare resources to address and manage this growing health crisis.
  2. Changing lifestyle habits- Changing lifestyle habits have emerged as a key factor influencing health outcomes worldwide. In recent decades, a shift towards sedentary routines, poor dietary choices, and increased stress levels has significantly impacted public health. Sedentary lifestyles, characterized by reduced physical activity, contribute to the rising incidence of health issues such as obesity, cardiovascular diseases, and diabetes. Unhealthy dietary habits, often marked by high consumption of processed foods and sugary beverages, further exacerbate these health concerns. The modern pace of life, with heightened work-related stress and irregular sleep patterns, also plays a role in compromising overall well-being. Recognizing the impact of lifestyle choices on health, there is a growing emphasis on promoting healthier habits through education, awareness campaigns, and policy interventions to foster positive changes in daily routines and improve long-term health outcomes.
  3. Growing geriatric population– The growing geriatric population represents a significant demographic shift with profound implications for healthcare systems worldwide. As advancements in healthcare contribute to increased life expectancy, the proportion of elderly individuals is on the rise. This aging demographic trend is associated with a higher prevalence of chronic conditions and age-related health issues, placing additional demands on healthcare infrastructure and resources. Conditions such as cardiovascular diseases, osteoporosis, and neurodegenerative disorders become more prevalent in older age groups, necessitating specialized and comprehensive healthcare services. Addressing the unique healthcare needs of the elderly, including preventive measures, specialized medical care, and social support systems, becomes crucial in ensuring a healthy and dignified aging process for this expanding segment of the population. The phenomenon of a growing geriatric population underscores the importance of proactive healthcare planning and strategies to meet the evolving needs of an aging society.
  4. Increase in prevalence of chronic diseases- The increase in the prevalence of chronic diseases represents a global health challenge, with far-reaching implications for individuals, healthcare systems, and economies. Chronic diseases, such as heart disease, diabetes, and respiratory conditions, have become more prevalent due to factors like aging populations, changing lifestyles, and environmental influences. These conditions often require long-term management and care, placing a substantial burden on healthcare resources. The rise in chronic diseases not only impacts the quality of life for affected individuals but also contributes significantly to healthcare costs. Prevention and early intervention strategies, along with lifestyle modifications, are crucial in mitigating the growing burden of chronic diseases. Addressing this trend requires a comprehensive and coordinated approach, involving public health initiatives, medical research, and innovative healthcare delivery models to promote healthier living and enhance the management of chronic conditions on a global scale.

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Report Synopsis        

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$97.3 billion

Market Size Forecast

$132.0 billion

Growth Rate

CAGR of 5.2% for the forecast period of 2023-2028

Segment Covered

Product Group, End-User, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Countries covered

U.S., Canada, Mexico, France, Germany, U.K., Italy, Spain, China, India, and Japan

Key Market Drivers

•  Increasing incidence & prevalence of diabetes

•  Changing lifestyle habits

•  Growing geriatric population

•  Increase in prevalence of chronic diseases

The Rising Demand for Global Markets for Diabetes Therapeutics and Diagnostics:

The escalating demand for global markets in diabetes therapeutics and diagnostics is indicative of the increasing prevalence of diabetes and the imperative for advanced healthcare solutions. With the market projected to reach $132.0 billion by 2028, the surge is fueled by a combination of technological innovations, heightened awareness, and the continuous pursuit of more effective treatment and diagnostic options. The escalating demand is not only a testament to the growing burden of diabetes but also underscores the vital role of pharmaceutical advancements and diagnostic technologies in addressing this global health challenge. As countries grapple with rising diabetes rates, the demand for cutting-edge therapeutics and diagnostics is a driving force propelling this market’s growth, emphasizing the urgent need for comprehensive solutions to better manage and combat the diabetes epidemic on a worldwide scale.

Trends and Innovations:

The landscape of global markets for diabetes therapeutics and diagnostics is shaped by dynamic trends and ongoing innovations. Notably, the Diabetes Delivery Devices segment has witnessed remarkable growth, propelled by technological advancements like implantable insulin delivery pumps and external insulin pumps. The integration of wireless technology and miniaturization in medical device components is fostering innovation in diabetes care, while 3D printing, artificial intelligence, and big data analytics are driving manufacturing efficiency. Amidst these trends, India stands out in the Asia Pacific region with the highest growth rate, supported by government policies, heightened diabetes awareness, and dedicated associations. These trends underscore a transformative era in diabetes management, where technological advancements and strategic initiatives converge to address the evolving needs of patients and healthcare systems globally.

Challenges and Opportunities:

The global markets for diabetes therapeutics and diagnostics present a landscape of both challenges and opportunities. The increasing prevalence of diabetes poses a substantial challenge to healthcare systems globally, necessitating innovative and scalable solutions. Rising healthcare costs, coupled with the complexities of managing chronic conditions, contribute to the challenges faced by the industry. However, within these challenges lie significant opportunities for growth and improvement. Technological advancements offer the potential for more efficient and effective diabetes management, from innovative therapies to advanced diagnostic tools. Additionally, the growing awareness of diabetes and proactive government policies present opportunities for market expansion, especially in regions like India, where a higher growth rate is anticipated. Successfully navigating these challenges and leveraging the opportunities can lead to transformative breakthroughs in diabetes care, benefiting both patients and the broader healthcare ecosystem.

This report on the Global Markets for Diabetes Therapeutics and Diagnostics provides comprehensive insights and analysis, addressing the following key questions:

  1. What are the anticipated dimensions and expansion pace of the diabetes therapeutics and diagnostics market?

    The market is expected to witness an increase from $97.2 billion in 2022 to $132.0 billion by 2028, with a compound annual growth rate (CAGR) of 5.2% throughout the forecast period.

  2. What factors contribute to the growth of the diabetes therapeutics and diagnostics market? 

    The market is experiencing growth driven by the increasing incidence and prevalence of diabetes, advancements in technology related to diabetes treatment and diagnostics, and strategic initiatives undertaken by major players in developed nations.

  3. What divisions are included in the diabetes therapeutics and diagnostics market?

    The market is categorized based on product group, end-user, and region. 

  4. Which segment is projected to lead the market by the conclusion of 2028 in terms of product groups? 

    The Diabetes Therapeutics segment is anticipated to dominate the market by the end of 2028. 

  5. In the diabetes therapeutics and diagnostics market, which region commands the greatest market share?

    North America boasts the highest market share in this sector.

  6. Which companies or players are prominent in the diabetes therapeutics and diagnostics market? 

    Key players in the market encompass Novo Nordisk A/S, Lilly, Boehringer Ingelheim International GmbH, AstraZeneca, Abbott, Merck & Co., Inc., Sanofi, Dexcom, Inc., Medtronic, and others.

Some of the Key Market Players Are:

  • 77 ELEKTRONIKA KFT.
  • ABBOTT
  • ALTUCELL
  • ASCENSIA DIABETES CARE HOLDINGS AG.
  • ASTRAZENECA
  • B. BRAUN SE
  • BIOCON
  • BOEHRINGER INGELHEIM INTERNATIONAL GMBH
  • DANAHER
  • DEXCOM INC.
  • EMBECTA CORP.
  • INSULET CORPORATION.
  • JOHNSON & JOHNSON SERVICES INC.
  • LIFESCAN IP HOLDINGS LLC
  • LILLY
  • MEDTRONIC
  • MENARINI GROUP (A. MENARINI DIAGNOSTICS S.R.L)
  • MERCK & CO. INC.
  • MERCK KGAA
  • NEXTCELL PHARMA AB
  • NIPRO
  • NOVA BIOMEDICAL
  • NOVARTIS AG
  • NOVO NORDISK A/S
  • ROCHE (F. HOFFMANN-LA ROCHE LTD)
  • SANOFI
  • TAKEDA PHARMACEUTICAL COMPANY LIMITED.
  • TANDEM DIABETES CARE INC.
  • TERUMO CORPORATION
  • YPSOMED AG

Browse More Related Reports: 

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DNA Vaccines: Technologies and Global Markets: The realm of DNA vaccines represents a cutting-edge frontier in the field of immunization, combining genetic engineering and vaccination technologies. This market is characterized by the development and utilization of vaccines that leverage the genetic material of pathogens to stimulate an immune response. As a promising alternative to traditional vaccines, DNA vaccines offer advantages such as rapid development, scalability, and potential broader applicability across various diseases. Key players in this market include biotechnology companies, pharmaceutical firms, and research institutions driving innovation in vaccine development. The global market for DNA vaccines is witnessing significant growth, propelled by advancements in biotechnology, increased understanding of genetic immunization, and the ongoing pursuit of effective and versatile vaccine solutions against infectious diseases and other health challenges. As research and development efforts continue, the market for DNA vaccines is poised to play a pivotal role in shaping the future of preventive medicine on a global scale.

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Paralyzing hit, diabetes can’t slow Davis down | Sports

Diabetes News

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It’s not that Gavin Davis takes football for granted. He’s been hurt before, suffered stingers and the like.

He’s always known the inherent risks of playing the game. Still, it sometimes takes a direct confrontation with those dangers to develop a true appreciation.

For Davis, that moment came on Sept. 23, 2022, on his home field at Shady Spring. He was running in to make a tackle, as he had done so many times before, when his life took what ended up being a miraculously brief detour.

The final two minutes were winding down on the Tigers’ game against PikeView. Shady was comfortably ahead by three touchdowns, but PikeView was moving the ball, trying to finish on a high note.

Peyton Mounts caught a pass and took it into the red zone, where he was met by Davis from behind with Adam Richmond charging in ahead.

“(Mounts) catches the ball and he’s running to the outside. When he does, he tries to slow down,” Davis said. “I stop and I end up grabbing him from the back. When I do, you can tell he sees Adam coming at him so he’s trying to go down. When he does, I’m going down with him and Adam’s shoulder hits my head. When it does, you can see in the video it kind of jars it and literally just turns my body off and I just fall down.”

Video of the play provides most of what Davis is able to go on, because he has little recollection of the moment.

“I remember grabbing the kid, and after I grabbed the kid I just remember falling down,” Davis said, “and then that’s it.”

But it wasn’t just that Davis was knocked unconscious. With the clock reading a mere 59 seconds, the hit also left Davis paralyzed, setting into motion tense moments for everyone who was there — especially his mom and dad.

“The whole time I’m going down to the field, I’m just praying to God and asking Him to help him be OK,” mom Jennifer said. “Just help everything be OK. And then just seeing him there, obviously that was scary. Then when our family was coming down and they were all crying. I’m having to console them and be the strong one, letting his buddies know he’s OK. That’s just what I kept telling myself. ‘He’s fine. He’s OK. God will take care of him.’”

“I remember when it first happened that everybody in the stands kind of took a gasp, and then it got quiet,” dad Chris said. “I remember thinking he’s knocked unconscious because of the way his body laid.

“I remember the stillness of how quiet it was. It was Coach Phil (Culicerto) who looked at me, and I believe he said, “Get out here.’ So I went out there and by the time I get there to him, the paramedic is trying to communicate with him.”

It was only then that Chris knew exactly how serious the situation was.

“I remember coming to and I was laying there and the paramedic was grabbing my hand, and he said, ‘Hey, hey, hey, hey, hey. Squeeze my hand. Squeeze my hand,’” Gavin said. “I was just very confused (about) what was happening. He was like, ‘Squeeze my hand. Come on, squeeze it!’”

Gavin was not responding, no matter how much he thought he was.

“I just kept hearing him say that and I told him — because I was laying and I couldn’t look down — I was like, ‘I’m squeezing as hard as I can,’” he said. “And I just remember the paramedic saying, ‘No, we have to get him off this field.’”

Gavin was eventually stabilized and placed in an ambulance to be transported to Raleigh General Hospital. Jennifer rode in the ambulance; Chris followed right behind them.

The ambulance actually had to pull over as consideration was given to flying Gavin to either Morgantown or Charleston. He was given a specialized IV and continued to Raleigh General, where his pads and helmet were carefully removed and multiple scans were performed, which confirmed a concussion.

But soon — very soon, considering the circumstances — the miracle happened. Gavin had suffered no injury to his spine, and things were only getting better.

“At that point in time, he’s starting to get feeling back in his extremities,” Chris said. “Within three or four hours, they’re going to let him stand.

“He grabs my arm, stands up and I say, ‘Praise God.’”

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Relying on God for strength and giving Him praise is nothing new for the Davis family. Neither, unfortunately, is battling adversity.

They have plenty of experience with both.

Gavin was diagnosed with diabetes when he was only 7 years old. Immediately, frequent daily finger sticks to monitor his blood glucose level became a regular part of life.

By the time he became interested in sports — a journey that has included youth basketball, football at the middle and high school levels and baseball — just getting ready for a game has been a challenge that has nothing to do with practice and weight room sessions.

Prep can start well over 24 hours prior to game time, and it’s all monitored by his mom.

“Mom’s texting the trainer and saying, ‘OK, he needs a Gatorade,’” Jennifer said with a smile.

“He will drink several Pedialytes in order to try to stack up those electrolytes and calcium and sodium,” Chris said. “And last year his endocrinologist also ordered that he take a bag of IV fluids before every game. That sometimes is difficult to get administered and get that done.”

That order came after Gavin twice was hospitalized when he went into full body cramps and stopped breathing, once after practice and once after a game. That one occurred on the team bus and he had to be carried out by his dad.

“All the muscles seized, from toe to neck,” Chris said.

During games, Chris and Jennifer get regular readings of Gavin’s sugar levels from his continuous glucose monitor that is located in his thigh. He also wears an insulin pump that is protected by a band and a padded arm sleeve.

If his levels are too high, he has to be rehydrated, but with no carbs — usually with a Powerade Zero. If they are too low, he still has to be hydrated but with enough carbs to where he is medically safe enough to compete. That’s where the Gatorade comes in.

Gavin’s glucose level even played a part as he lay motionless on the field that night, not responding to the paramedic’s pleas to squeeze his hand.

“I was afraid he was panicking as well, so the first thing I was trying to get was a blood sugar (reading), because that also determines how he is communicating with us,” Chris said. “If his blood sugar is too high, sometimes his rationale is not there, and if it’s too low his rationale’s not there.”

There is nothing easy about what Gavin goes through, but he keeps it in stride. He even adds a bit of levity to it.

“I get IVs a couple hours before the game. Sometimes, the IV, I have to take it with me on the bus to road games,” he said. “I’ll be sitting on the bus with the pole with my IV hanging off of it and I’ll get off the bus. Normally I go last because I don’t want to bang it or anything. So all these players get off the bus and they have their shoulder pads, and I get off the bus with my little IV.

“I’ve had a couple friends from other schools that are like, ‘Who’s the hospital patient getting off the bus?’ and a bunch of stuff like that.”

“‘This should be an easy game,’” Jennifer quips.

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There are certainly difficulties, like the tingly feeling he gets in his legs when his sugar runs too low.

And, ironically, he confesses to being “very terrified of needles” despite the multiple times he has had to face them.

“It’s definitely gotten easier over the years, just adapting to it and getting used to it,” he said.

Through his strong faith in God and a lot of hard work, Gavin overcomes it all. Amazingly, he only missed one game after the hit. Of course, he was placed in concussion protocol. And conditioning was modified and his practice work was monitored by team trainer Faye Gray.

“She would be like, ‘You sure about this? No headache? You can see? Everything’s good?’” Gavin said. “And I was like, ‘Yep.’ She was like, ‘All right, I guess I’ve got to turn you loose now.’ I was very happy that day, to go back and practice with them.”

He returned against Man on Oct. 7, although some people may have missed it.

“I had to actually wear a different jersey, because they had to cut my jersey off (after the injury),” he said. “So I wore No. 85 instead of 45.”

The rest of the season went well, and he was a member of the basketball team that played in the Class AA state title game for the third straight year.

With his senior year about to start, Gavin stands to play an even bigger role in the Tigers’ plans. Head coach Vince Culicerto said Gavin will start at running back, he and quarterback Brady Green providing a formidable duo.

“He played a lot of receiver last year, ran the ball towards the end of the year a little more. We’ve run him a bunch over the last couple of years, but (he will) run more this year,” Culicerto said. “And boy he can catch the ball when we slip him out and do that kind of stuff.”

No matter his role, he considers every moment on the field a blessing. He was touched and encouraged that both teams came together to pray for him after he was hurt.

And he now truly understands why teams are required to watch a film on concussions before the season.

“Nothing’s really changed. I still love playing. I wouldn’t say (I’m) more cautious, but definitely a thought in the back of my mind since it happened,” Gavin said. “Throughout my years of playing, they talk about concussions and getting knocked out, and you don’t really think about it. You just play football. … It is something I look back and reflect on, but it’s part of the game so I’ve kind of accepted it, moved on and played ball.

“Concussions are no joke. I do take them more seriously since that day.”

Chris looks at a photo of Gavin with his neck in a brace, then another of him walking at the hospital that same night.

“You don’t go from that to that without God,” Chris said. “It’s impossible.”

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