South Korea Diabetes Care Devices Market Forecast 2020 – 2027 Top Key Players Analysis

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.

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

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