The global Diabetes Diagnostics market estimated at US$31.90 billion in the year 2022 is now projected to grow at a CAGR of 7.71% and reach US$49.82 billion by 2028.
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
North American diabetes diagnostics market is expected to grow significantly over the forecast period 2022-2028. Growing prevalence of diabetes and other lifestyle and chronic diseases, ageing population, well-established healthcare infrastructure and wider access to care services, higher healthcare awareness among population, and consumer affluence will drive the diabetes diagnostics market growth. United States contributed around 78% of the total North American diabetes diagnostics market. It is estimated to have a market value of US$11.93 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 7.69% and 6.44% respectively over the 2022-2028 period.
Asia Pacific diabetes diagnostics market is anticipated to witness an upsurge owing to the increased convenience, shift towards high-calorie energy-rich foods, and increasingly sedentary lifestyles are contributing to an alarming rise in incidence of diabetes in India and China making the countries the global hub for the disease with the highest number of diabetic adults. China is expected to dominate the Asia-Pacific market and reach a market size of US$6.54 billion by 2028.
Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 8.46% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players profiled in the report include 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, among others.
Research Methodology
