India Diabetes Care Market to Grow at CAGR of 7.94% During the Forecast Period
Rising geriatric population, unhealthy lifestyle, obesity, advancing
technology and increasing cost of living to drive the diabetes care market in
India.
According
to recently released TechSci Research report “India
Diabetes Care Market
By Type of Product (Diabetes Drug and
Diabetic Devices), By Diabetes Type (Type 1, Type 2 and Gestational Diabetes),
By End-User (Hospital, Homeclinic, Homecare) By Region, Competition, Forecast
& Opportunities, 2026.’’, India diabetes care
market is forecast to grow at CAGR of 7.94% in value terms to reach
USD2,408.39 million by FY2026.
Increasing
demand for diabetes care has been generated from the country’s rising diabetic population.
Various diabetes care manufacturing giants have introduced continuous glucose
monitoring devices specially for type 1 diabetes, hyperglycaemia, and
gestational diabetes.
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With the growth of urbanization, adoption of an
unhealthy lifestyle and spending capacity of consumers in India has led to an
increase in the diabetic population, which is driving the diabetes care market
across the country.
India diabetes care market is categorized into diabetes
drug and diabetes devices. The drug diabetes care segment holds the major
market share, followed by devices.
The devices category is growing
fast in value terms due to feasibility of use. the value share of device
diabetes care is anticipated to reach 47.18% by FY2026, owing to the continuous
launch of better and easy to handle devices and rising disposable incomes.
Novo
Nordisk India Private Limited, Sanofi India Limited, Eli Lilly India Pvt. Ltd.,
Roche Diagnostics India Pvt Ltd., Abbott India Limited, Becton Dickinson
Private Limited, Johnson & Johnson Private Limited, India Medtronic Pvt.
Ltd., Ypsomed India Private Ltd. and Novartis India Ltd are some of the companies operating in the India diabetes care market.
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“Diabetes care market in India includes
several players, including a blend of large multi-nationals as well as small
players forming a large unorganized market. Multinational companies such as Abbott
India Limited, Sanofi India Limited, Eli Lilly India Pvt, Novo Nordisk India
Private Limited, etc., have either set up their production facilities in India
or implement contract manufacturing processes, to grab the opportunity of
booming diabetes care market and increase of their product portfolio as per
consumers drug requirements which is expected to drive the growth of organized
sector in the coming years. Also, guidelines related to manufacturing and
marketing of diabetes care as per Indian and International standards have been
implemented which is primarily focused on the development of newer products,
exploitation of technology and enhancement of distribution network. This is
expected to give a boost in the country’s Diabetes Care market in the coming
years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India
Diabetes Care Market By Type of Product
(Diabetes Drug and Diabetic Devices), By Diabetes Type (Type 1, Type 2 and
Gestational Diabetes), By End-User (Hospital, Homeclinic, Homecare) By Region,
Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of India diabetes
care market and provided statistics and information on market size, shares, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India diabetes care market.
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