Global Diabetes Care Devices Market, By Product Type (Blood Glucose Monitoring Devices, Insulin Delivery Devices), Device Type (Self-monitoring and Diagnostic), Delivery Type (Pumps, Pen, Syringes, Injectors, Cartridges in Reusable pens, Disposable Pens, and Jet Injectors), Distribution Channel (Institutional Sales, Retail Sales) – Industry Trends and Forecast to 2030.
Diabetes Care Devices Market Analysis and Size
Several top manufacturers are focusing on many technological innovations and developing advanced products to gain extensive market share. As per the records of IDF, around 21,600 children are added to the type 1 diabetic population every year. As per these figures, diabetes accounts for around 9% of total healthcare expenditure globally. Numerous government initiatives, such as the National Service Framework (NSF) programme in the U.K., are improving services by setting national standards to increase the service quality and address variations in care. The various risk factors such as overweight, smoking, obesity, and high cholesterol levels are anticipated to boost the incidence of diabetes, thus fuelling the utmost need for diabetes devices.
Data Bridge Market Research analyses that the diabetes care devices market which is USD 29.02 billion in 2022, is expected to reach USD 56.57 billion by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Diabetes Care Devices Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Product Type (Blood Glucose Monitoring Devices, Insulin Delivery Devices), Device Type (Self-monitoring and Diagnostic), Delivery Type (Pumps, Pen, Syringes, Injectors, Cartridges in Reusable pens, Disposable Pens, and Jet Injectors), Distribution Channel (Institutional Sales, Retail Sales)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Global in Global, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Abbott (U.S.), PHC Holdings Corporation (Japan), WellDoc, Inc (India), Sanofi (France), Dexcom, Inc (U.S.), DarioHealth Corp. (U.S.), Medtronic (Ireland), B. Braun SE (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Insulet Corporation (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland), Tidepool (U.S.), Medtronic (Ireland), Tandem Diabetes Care (U.S.), LifeScan (U.S.), AgaMatrix (U.S.), Glooko Inc. (U.S.), DarioHealth (Israel), Home Diagnostics (U.S.)
Diabetes care devices are the ones that is utilized to determine blood sugar levels in the body which is caused by insulin production. These care devices are provided to diabetic patients for real monitoring blood glucose levels and improve treatment for this chronic condition. Diabetes care gadgets are widely used to monitor diabetics' blood glucose levels. A continuous glucose monitor (CGM) is a medical device that tracks and monitors diabetes patients' blood glucose levels for the whole day. This wearable device will benefit the patients by supporting them in managing their glucose levels.
Diabetes Care Devices Market Dynamics
- Rising Prevalence of Diabetes
Increasing prevalence of diabetes is expected to contribute to this market's growth during the forecast period. As per the International Diabetes Federation Report for 2017, around 66.0 million people globally have diabetes, and it is projected to rise to 81.0 million by 2045. The top five diabetic countries in Global are the United Kingdom, France, Germany, Spain, and Italy. In North America, it has been witnessed that there are more than 29 million diabetic patients, and this number is projected to increase to 34 million by 2027. U.S. alone recorded more than 26 million diabetes patients in 2021. This boosts the market growth.
- Increase in obesity
Obesity is one of the top causes of diabetes in the general population. According to the records of WHO, around 50% of the global population was overweight in 2014, with more than 20% of the population obese. Obesity is more prevalent in men. Risk factors, such as the increasing occurrence of obesity, are directly associated to the increasing prevalence of diabetes. Consequently, the diabetes device market is increasing.
- Government initiatives and Increased awareness campaigns
Numerous government initiatives and awareness campaigns are also pushing the market growth. For instance, the UK DESMOND education programme is a structured patient education and management programme for patients suffering from newly diagnosed type 2 diabetes. Its aim is to help people identify early health risks. There has also been a rise in government funding for healthcare. As per the International Diabetes Federation Diabetes-related healthcare spending is rapidly growing. Furthermore, Bigfoot collaborated with Abbott and received clearance from the U.S. FDA in 2021 for the Bigfoot Unity Diabetes Management system. This first-of-its-kind system2 holds smartpen caps for disposable insulin pens - injection devices that people with diabetes use to inject insulin - that integrate with Abbott's world-leading FreeStyle Libre 2 technology. Diabetes device demand is projected to be boosted by many supportive initiatives and increasing awareness during the forecast period.
- High Cost Nature and Difficulty to Operate Diabetes Care Devices
The glucose testing device is expensive and can be painful. The results of diabetes care devices are not always exact. Additionally, some factors inhibit market expansion. This includes painful sensor insertions and the increased difficulty of fitting multiple devices on small bodies. In addition to this, disruptive alerts lost signals, leading to data gaps, skin irritation and adhesive issues, and an increased abundance of information that is generated by diabetes care devices that were difficult to interpret.
This diabetes care devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the diabetes care devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Diabetes Care Devices Market
The COVID-19 pandemic hampered the growth of the diabetes care devices market. It has been witnessed that patients infected with COVID-19 had high blood glucose levels. The stress of infection and the use of steroids for COVID-19 treatment led to an increase in blood glucose levels, which increased the number of patients. In the post pandemic era, several players have launched new advanced diabetes care devices and signed diabetes care device collaborations and agreements due to the increasing incidence of diabetes and the market growth is increasing.
- In 2021, Medtronic received a CE mark for its InPen smart insulin pen and Guardian 4 sensor for better diabetes management.
- In 2021, Medtronic launched the Medtronic Extended infusion set in very few countries. This advancement doubles the time an infusion set can be worn, allowing users to safely continue on insulin pump therapy with lesser interruptions and insertions while adding feasibility and comfort to their diabetes management routine.
- In 2020, Novo Nordisk announced the acquisition of Emisphere Technologies, a drug delivery technology company. The acquisition is expected to help Novo Nordisk gain a competitive edge in the oral antidiabetic market
Global Diabetes Care Devices Market Scope
The diabetes care devices market is segmented on the basis of product type, device type, delivery type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Blood Glucose Monitoring Devices
- Testing Strips
- Blood Glucose Meters
- Self-monitoring Blood Glucose Meters
- Continuous Blood Glucose Monitoring Devices
- Insulin Delivery Devices
- Cartridges in Reusable pens
- Disposable Pens
- Jet Injectors
- Institutional Sales
- Retail Sales
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
Diabetes Care Devices Market Regional Analysis/Insights
The diabetes care devices market is analyzed and market size insights and trends are provided by country, product type, device type, delivery type and distribution channel as referenced above.
The countries covered in the diabetes care devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Global in Global, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the diabetes care devices market due to the presence of well-developed healthcare infrastructure and favourable reimbursement policies in the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the rising incidence of cancer such as esophagus, liver, bladder, pancreas, and others, increased presence of major manufacturers across the U.S. Additionally, technological advancements and rising foreign investment.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The diabetes care devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for diabetes care devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the diabetes care devices market. The data is available for historic period 2011-2021.
Competitive Landscape and Diabetes Care Devices Market Share Analysis
The diabetes care devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to diabetes care devices market.
Some of the major players operating in the diabetes care devices market are:
- Abbott (U.S.)
- PHC Holdings Corporation (Japan)
- WellDoc, Inc (India)
- Sanofi (France)
- Dexcom, Inc (U.S.)
- DarioHealth Corp. (U.S.)
- Medtronic (Ireland)
- B. Braun SE (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Insulet Corporation (U.S.)
- Ascensia Diabetes Care Holdings AG (Switzerland)
- Tidepool (U.S.)
- Medtronic (Ireland)
- Tandem Diabetes Care (U.S.)
- LifeScan (U.S.)
- AgaMatrix (U.S.)
- Glooko Inc. (U.S.)
- DarioHealth (Israel)