Global Diabetes Diagnostics Business Report 2023-2030: Quality Products at Low Prices - The Mantra for Success in the Marketplace

Rhea-AI Summary

The global Diabetes Diagnostics market, valued at $30.8 billion in 2022, is anticipated to grow to $59.4 billion by 2030, representing a CAGR of 8.6%. Segment analysis reveals that Test Strips will reach $14.7 billion with a CAGR of 8.7%. The U.S. market is projected at $11.7 billion in 2022, and China is forecasted to grow at 10.1% CAGR, reaching $7.6 billion by 2030. Despite ongoing economic challenges, the diabetes diagnostics sector shows resilience, driven by increasing healthcare expenditure and the rising incidence of diabetes globally.

Positive

• Projected growth of diabetes diagnostics market from $30.8 billion in 2022 to $59.4 billion by 2030.
• Test Strips segment expected to reach $14.7 billion with an 8.7% CAGR.
• U.S. market estimated at $11.7 billion, while China forecasted to grow at 10.1% CAGR, reaching $7.6 billion.

Negative

• Potential economic recession may hinder market growth due to lower capital expenditure and inflation concerns.
• Supply chain disruptions and new COVID outbreaks pose risks to the diabetes diagnostics market.

DUBLIN, March 22, 2023 /PRNewswire/ -- The "Diabetes Diagnostics: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Diabetes Diagnostics Market to Reach $59.4 Billion by 2030

The global market for Diabetes Diagnostics estimated at US$30.8 Billion in the year 2022, is projected to reach a revised size of US$59.4 Billion by 2030, growing at a CAGR of 8.6% over the analysis period 2022-2030.

Test Strips, one of the segments analyzed in the report, is projected to record a 8.7% CAGR and reach US$14.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lancets segment is readjusted to a revised 7.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $11.7 Billion, While China is Forecast to Grow at 10.1% CAGR

The Diabetes Diagnostics market in the U.S. is estimated at US$11.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.6 Billion by the year 2030 trailing a CAGR of 10.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 7.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.7 Billion by the year 2030.

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of COVID-19 and a Looming Global Recession
• Technologies Come to the Aid for Diabetes Diagnosis, Monitoring and Management
• Diabetes: A Chronic Body Disorder
• An Introduction to Diabetes Diagnostics
• Diabetes Diagnostics: Easier, Economic, and Efficient Management of the Global Diabetes Epidemic
• Developed Regions Lead, Developing Economies to Spearhead Future Growth
• Increase in Number of Hospitals & Diagnostics Centers Augurs Well for Market in Developing Regions
• Alarming Levels of Diabetes Incidence Worldwide Drives Demand for Diabetes Diagnostic Devices
• Diabetes Emerges as One of the Leading Causes of Mortality
• Competition
• Quality Products at Low Prices: Mantra for Success in the Marketplace
• SMBG Makers Turn to Mobile Devices to Woo Users on the Move
• World Brands
• Recent Market Activity
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

MARKET TRENDS & DRIVERS

• High Risk of Diabetes in the Fast Expanding Aging Population Benefit Market Expansion
• Increasing Healthcare Expenditure Aids Diabetes Diagnostics & Testing Market
• Increasing Obesity Levels Underpins Market Growth
• Average Per Capita Annual Health Expenditure (In US$) due to Obesity
• Rising Importance of Real-Time Glucose Sensing and Monitoring Drive Robust Growth in Minimally-Invasive CGM Devices Market
• CGM Demand Benefits from the COVID-19 Pandemic
• CGM Market Breaks through Barriers to Witness Growing Adoption
• Growing Role of HbA1c Testing Devices in Monitoring & Management of Diabetes
• Rising Popularity of Near Patient Testing Benefits HbA1c Devices Market
• Myriad Benefits of POC HbA1c Tests over Lab Tests Drives Widespread Adoption
• Glycated Albumin: A Potential Threat to HbA1c
• Role of HbA1c Testing in Diabetes Diagnosis and Management
• HbA1c Tests for Diabetes Diagnosis Need to Address Issues Related to Hemoglobin Variants
• Glycosylated Hemoglobin Tests Pave the Way for Early-Stage Diabetes Diagnosis
• Despite Competition from CGM Systems and HbA1c Testing Devices, BGM Devices Continues to Witness Demand Growth
• Blood Glucose Strips: Low Cost Advantage Augurs Drives Market
• Blood Sugar Lancets Market: Sustained Growth in Demand
• Self-Monitoring/Household Blood Glucose Sustains Market Growth
• Rising Smartphone Penetration Augurs Well for SMBG Market
• Smartphone Penetration Rate as Share of Total Population: 2016-2020
• Barriers to Adoption of New Technology in BGM Products
• Accuracy Issues Plague Blood Glucose Meters Market
• Insulin Pens Rise in Popularity for Administering Insulin
• Smart Insulin Pens
• Increasing Role of Self-Injection Devices in Diabetes Management
• Prefilled Syringe Pen Injectors
• Human Factors Influence the Design of Self Injection Systems
• Pain Free Shots: A Growing R&D Domain
• Undiagnosed Diabetes Emerges as a Major Healthcare Challenge, Translates into Untapped Potential for Diabetes Diagnostics Market
• Increased Vulnerability of Diabetics to Various Health Complications Boosts Demand for Diagnostic Devices
• Innovations & Product Advancements: Prime Focus Area for Vendors
• Focus on Development of Wearable Devices
• An Insight into Intriguing Advances in Blood Glucose Monitoring Techniques
• Companies Develop Innovative Needle-Free Alternatives
• mHealth Solutions for Diabetes Diagnosis
• Non-invasive Wearable Glucose Testing Devices
• Innovations in Insulin Pumps

FOCUS ON SELECT PLAYERS (Total 91 Featured)

• A.Menarini Diagnostics Ltd.
• Abbott Diabetes Care, Inc.
• Acon Laboratories, Inc.
• AgaMatrix, Inc.
• Apex Biotechnology Corporation
• ARKRAY, Inc.
• Ascensia Diabetes Care Holdings AG
• B. Braun Melsungen AG
• Becton, Dickinson and Company
• BIONIME Corporation
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Beckman Coulter, Inc.
• HemoCue AB
• DexCom, Inc.
• Diazyme Laboratories Inc.
• EKF Diagnostics Holdings Plc
• LifeScan, Inc.
• Medtronic PLC
• Nova Biomedical Corporation
• OSANG Healthcare Co., Ltd.
• Roche Diabetes Care, Inc.
• Sanofi S.A.
• Sanwa Kagaku Kenkyusho Co, Ltd.
• Siemens Healthineers
• Sinocare, Inc.
• PTS Diagnostics
• Trividia Health, Inc.
• TaiDoc Technology Corporation
• Tandem Diabetes Care, Inc.
• Terumo Corporation
• Tosoh Bioscience, Inc.
• Trinity Biotech plc
• Ypsomed AG

For more information about this report visit https://www.researchandmarkets.com/r/8leahi

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FAQ

What is the projected growth of the Diabetes Diagnostics market by 2030?

The Diabetes Diagnostics market is projected to grow from $30.8 billion in 2022 to $59.4 billion by 2030.

What CAGR is expected for Test Strips in the Diabetes Diagnostics market?

The Test Strips segment is expected to achieve a CAGR of 8.7% by 2030.

How is the U.S. Diabetes Diagnostics market sized for 2022?

The U.S. Diabetes Diagnostics market is estimated to be $11.7 billion in 2022.

Which region is expected to experience the highest growth in the Diabetes Diagnostics market?

China is forecasted to grow at a 10.1% CAGR, reaching a projected market size of $7.6 billion by 2030.

What are the economic challenges facing the Diabetes Diagnostics market?

Economic challenges include potential recession, lower capital expenditure, inflation concerns, and supply chain disruptions.