Global Diabetes Care Devices Market, By Product Type (Blood Glucose Monitoring Devices and 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 and Retail Sales) – Industry Trends and Forecast to 2031.
Diabetes Care Devices Market Analysis and Size
Several factors are driving the growth of the diabetes care devices market including the increasing prevalence of diabetes worldwide, especially in emerging economies. The rise in obesity rates, unhealthy dietary habits, and sedentary lifestyles are contributing to the growing incidence of diabetes, leading to a higher demand for diabetes care devices. Innovations such as continuous glucose monitoring (CGM) systems, insulin pumps, and smart insulin pens are improving the management of diabetes and enhancing the quality of life for patients. These devices offer more precise and convenient ways to monitor blood glucose levels and administer insulin, leading to better patient outcomes.
The global diabetes care devices market size was valued at USD 31.54 billion in 2023 and is projected to reach USD 61.47 billion by 2031, with a CAGR of 8.7% during the forecast period of 2024 to 2031. 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 – 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Blood Glucose Monitoring Devices and 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 and Retail Sales)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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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), and Home Diagnostics (U.S.)
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Market Opportunities
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Market Definition
Diabetes care devices are medical devices designed to help individuals manage their diabetes. These devices include blood glucose meters, continuous glucose monitors (CGMs), insulin pumps, insulin pens, insulin syringes, and insulin jet injectors. They are used to monitor blood glucose levels, administer insulin, and manage the condition to prevent complications. These devices play a crucial role in managing diabetes, helping individuals maintain optimal blood glucose levels and improve their quality of life.
Diabetes Care Devices Market Dynamics
Drivers
- Rising Diabetes Prevalence
The escalating global prevalence of diabetes, especially in emerging economies, due to sedentary lifestyles, poor dietary habits, and increasing obesity rates contribute to the rising incidence of diabetes, fueling the demand for diabetes care devices. As per the National Center for Biotechnology Information (NCBI) report in October 2023, if current trends persist, over half of the global population will be overweight or obese by 2035, with a majority of new diabetes cases being type 2 diabetes, largely due to changes in obesity rates and dietary habits. As the number of diabetes cases continues to increase, the market for devices that assist in managing the condition is expanding rapidly, driving the market growth.
- Technological Advancements
Continual advancements in diabetes care devices, such as continuous glucose monitoring systems, insulin pumps, and smart insulin pens, offer enhanced accuracy, convenience, and efficiency in diabetes management, leading to greater patient acceptance. The evolution of these devices is revolutionizing diabetes care, making it easier and more effective to manage the condition, and driving up adoption rates globally.
Opportunities
- Telemedicine and Remote Monitoring
The increasing adoption of telemedicine and remote monitoring technologies enables healthcare providers to remotely monitor patients' glucose levels and adjust treatment plans accordingly, enhancing patient care and convenience. Effective communication between patients and healthcare providers leads to improved diabetes management and better patient outcomes. It presents significant opportunities for diabetes care device manufacturers.
- Integrated Healthcare Systems
Seamless integration allows for the efficient sharing of patient information among healthcare providers, ensuring that patients receive comprehensive and coordinated care. Integrated healthcare systems also enable healthcare professionals to access real-time data from diabetes care devices, allowing for more informed decision-making and personalized treatment plans. Integrating diabetes care devices with healthcare systems and electronic health records (EHRs) offers opportunities for market growth.
Restraints/Challenges
- Limited Access to Healthcare
In rural and remote areas, diagnosis and treatment of diabetes can be hindered, leading to suboptimal management of the condition. Improving access to healthcare is crucial to address this challenge and increase the adoption of diabetes care devices. Limited access to healthcare services poses a significant challenge to the diabetes care devices market.
- High Cost of Devices
The affordability of these devices is a key consideration for patients, and cost-effective solutions are needed to address this challenge. Manufacturers must work to develop devices that are not only effective but also affordable, ensuring that they are accessible to a wider range of patients. The high cost of diabetes care devices can be a barrier to access for many patients, especially those in developing economies.
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.
Recent Developments
- In May 2023, Medtronic agreed to acquire EOFlow, a manufacturer of insulin devices. The integration of EOFlow with Medtronic's Meal Detection Technology algorithm and advanced continuous glucose monitor (CGM) is expected to enhance the company's ability to serve a broader range of people with diabetes
- In April 2023, Undbio announced its plan to invest USD 100 million in constructing a US-based insulin manufacturing plant. The South Korean company intends to build a new facility in West Virginia to manufacture insulin and distribute its products within the country
- In July 2023, CharmHealth and Bioverge jointly invested in My Diabetes Tutor, a startup focused on improving the lives of individuals with diabetes
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.
Product Type
- Blood Glucose Monitoring Devices
- Testing Strips
- Blood Glucose Meters
- Self-monitoring Blood Glucose Meters
- Continuous Blood Glucose Monitoring Devices
- Lancets
- Others
- Insulin Delivery Devices
Device Type
- Self-monitoring
- Diagnostic
Delivery Type
- Pumps
- Pen
- Syringes
- Injectors
- Cartridges in Reusable pens
- Disposable Pens
- Jet Injectors
Distribution Channel
- Institutional Sales
- Hospitals
- Clinics
- Others
- 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 market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
North America is expected to dominate the market due to several factors, including the increasing geriatric population, the rising burden of diabetes due to lifestyle changes, the growing prevalence of obesity, and the high cost of treatment. In addition, the presence of market leaders such as Abbott, Medtronic, Dexcom, and Insulet Corporation, with their operational headquarters in this region, is contributing to the market's growth.
Asia-Pacific is expected to witness significant growth during the forecast period due to the presence of major market players and the increasing prevalence of diabetes in the region. Furthermore, advancements in blood glucose monitoring devices, a growing geriatric population, and the rising incidence of lifestyle diseases such as obesity are expected to drive the market growth.
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 the market.
Some of the major players operating in the 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)
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