November 26, 2020

South Korea Diabetes Care Devices Market Insights, Scope And Forecast By 2020-2027

Global South Korea Diabetes Care Devices Market Insights

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including product type and end-user.

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South Korea Diabetes Care Devices Market drivers:

The South Korea diabetes care devices market is experiencing strong demand over the forecast period. This is mainly due to the growing incidences orate of diabetes owing to the rapid urbanization and sedentary lifestyle is one of the key drivers enhancing the emerging demand of the market during the forecast period. Furthermore, the rising awareness regarding diabetes treatment and management is further supporting the market growth. As per the IDF, 463 million people have diabetes globally, out of which 163 million people in the Western Pacific region have diabetes. This number is expected to increase and touch 212 million by 2045. South Korea has a total number of cases of diabetes, amounting to 3,689,400 in 2020, and the cases of diabetes in adults is 9.2%. The prevalence of diabetes has drastically risen, particularly among men within an age group of 60 and women in their 70s.

The growing number of diabetes patients in South Korea is further boosting the demand for diabetes care devices during the forecast period. The country is witnessing an increase in the number of older people, who are more vulnerable to diabetes, and the emerging trend of obesity owing to lack of physical activities and unhealthy diet patterns are factors fuelling the growth of the market during the forecast period. Additionally, rapid technological advancements in the field of diabetes devices have created various new growth opportunities in the market. On the other hand, the side-effects caused by few diabetes care devices will hinder the market growth during the forecast period.

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South Korea Diabetes Care Devices Market Segmentation:

According to the report published by GMI Research, titled “South Korea Diabetes Care Devices Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Product Type:

  • Blood Glucose Monitoring Device
  • Insulin Delivery Device

By End-User:

  • Hospitals
  • Homecare Setting
  • Others

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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