The India diabetes market has been extensively studied in Market Research Future's latest report which reveals impressive growth at CAGR of 6.5% during the forecast period of 2017 to 2023. India has a high prevalence of diabetes with an estimated 69.2 million people being recorded as living with diabetes in 2015. The diabetes market size has a high potential for growth, and this has been mapped in the estimated market value which was USD 4778.7 Mn in 2016 and is likely to reach an approximate value of USD 7441.6 Mn by 2023.
Awareness regarding the disease and its causes has increased significantly, thus driving the demand for effective treatment of diabetes. Increasing urbanization and the resulting change in lifestyle has led to an increasing number of diabetic patients which encourages market growth. India is an emerging economy where there is rapid development being undertaken across various sectors with the healthcare sector being the most important. Rising demand from patients for healthcare which is equal to that available in first world countries will be key in the rapid development of healthcare infrastructure and healthcare expenditure. Moreover, India has a significant rural population which represents massive opportunity due to the awareness and treatment programs that can be carried out. However, India's unique socio-economic scenario is expected to lead to unique product offerings that are easily affordable and accessible across the country.
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The Diabetes market size has been segmented in MRFR's report on the basis of type, test, devices, treatment, and region. By type, the Diabetes market size is segmented into gestational diabetes, type 2, and type 1. Among these, type 2 diabetes has been found to be most prevalent.
By test, the market includes fasting blood sugar test, oral glucose tolerance test, random blood sugar test, initial glucose challenge test, and others.
By devices, the market is divided into diabetes management devices, blood glucose monitoring devices, and others. The blood glucose monitoring devices segment accounts for 38% of the total market. However, the diabetes management devices segment leads the market with a share of 43%.
By treatment, the market is segmented into medication, transplantation, bariatric surgery, insulin therapy, and others.
India, in the report, has been divided into various regions to provide a comprehensive view of the market. The Diabetes market size has been divided into eastern region, western region, southern region, northern region, and central region. The western region has been observed to have the largest share of the Indian diabetes market due to its highly populous nature and high consumption of sugarcane and its byproducts which are grown abundantly in the region. The southern region, however, promises significant growth during the forecast period.
MRFR's competitive analysis includes eminent market players such as USV Private Limited, Ypsomed, Johnson Johnson Services, Inc., Becton Dickinson and Company, Bayer AG, Novo Nordisk A/S, Roche Diabetes Care Inc., Merck Co. Inc., Novartis AG, and Sanofi-Aventis U.S. LLC to name a new. International players are looking for a strong foothold in the region as they recognize potential India represents.
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