Japan Diabetes Care Devices Market is expected to register a CAGR greater than 3.4% during the forecast period (2020 - 2025)
NEW YORK, May 12, 2020 /PRNewswire/ -- Japan Diabetes Care Devices Market is expected to register a CAGR greater than 3.4% during the forecast period (2020 - 2025). Diabetes has emerged as a global epidemic and has affected around 7 million people, in Japan. While Type 1 diabetes is caused as an immune system malfunction, Type 2 diabetes is linked to leading a sedentary lifestyle, which results in the development of inherent resistance to insulin. Hence, Type 1 diabetes can be characterized as insulin-requiring, while Type 2 diabetes can be characterized as insulin-dependent diabetes.? The monitoring and management of blood glucose levels are on the rise, in order to avoid negative consequences, such as cardiovascular diseases, a blood disorder, blindness, kidney disorder, and many other conditions. ?
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Key Market Trends
Rising Prevalence of Diabetes
The prevalence of diabetes is growing among all ages in Japan, which can be attributed to the growing obese population, along with unhealthy diets and sedentary lifestyles. The prevalence of diabetes in adults is around 7.7%. The Japanese healthcare system has a few disease management programs conducted by the Japan Association for Diabetes Education and Care. Japan is one of the regional leaders in Asia-Pacific, in terms of diabetic public health policies. The nation promotes public awareness and embraces preventive policies that focus on lifestyle and dietary adjustments, which can lessen the likelihood of adult-onset diabetes.?
Insulin cartridge in reusable pens segment accounted for major share Japanese diabetes care devices in 2019.
In 2019, Insulin cartridge in reusable pens segment is having a 70.8% market share in Japan diabetes care devices and it is anticipated to register a CAGR of 2.74% during the forecast period. This is mainly due to the low price of devices because of more competition among local manufactures in Japan.? Insulin cartridges in reusable pens are known to be a needed extension to insulin pens. These devices are an upgraded version of the insulin vials. Most types of insulins are manufactured in the form of cartridges, thus, making it easily accessible. Insulin cartridges are more user-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on-the-go.
Competitive Landscape
There have been constant innovations driven by manufacturers to compete and struggle in the market. The major companies are partnering with each other to develop new technologies in diabetes care devices, which is likely to drive the market in the future. For instance:? In February 2020, Abbott and Insulet partnered to integrate next-generation glucose sensing and automated insulin delivery technologies for seamless diabetes care. This collaboration will combine Abbott's continuous glucose monitoring (CGM) technology with Insulet's Omnipod Horizon Automated Insulin Delivery System, to offer an accurate, easy-to-use, integrated digital health platform.?
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