Brazil likely to follow China as largest diabetes care devices market among BRIC nations
According to a new market research report published by Markets and Markets, the BRIC diabetes care devices market is likely to grow at a CAGR of 6.3% over 2015-2020 to reach USD 2.3 Billion in 2020 from USD 1.7 Billion in 2015. China accounted for the largest market share of 55.5% in 2014. Brazil is expected to follow China as the second largest diabetes care devices market among BRIC nations, while India is expected to register the fastest growth over the forecast period. The major factors contributing to the growth of the market include rising number of diabetic patients in BRIC nations, a significant advancement in research on diabetes, and increasing global research alliances. The market is segmented into blood glucose monitoring devices and insulin delivery devices based on the types of diabetes care devices which are further divided into testing strips, self-monitoring blood glucose meters, lancets, continuous glucose monitors, insulin syringes, insulin pens, insulin pumps, and insulin jet injectors. Testing strips recorded the largest revenue among all blood glucose monitoring devices and insulin pens reported the highest share among insulin delivery devices in 2014. The major players are Becton, Dickinson and Company, Roche Diagnostics, Johnson and Johnson, Bayer, Abbott Laboratories, Acon Laboratories, Ypsomed Novo Nordisk, Medtronic, ARKRAY, Terumo Corporation, Dexcom, and Sanofi.