Diabetes Care Devices Market

According to GMI Research’s latest report, the Global Diabetes Care Devices market was valued at USD 21,825.4 million in 2022 and is projected to reach USD 33,750.0 million by 2030, growing at a CAGR of 5.6% during 2023-2030.

Diabetes care devices are used to monitor the glucose level in the diabetic patient’s body and facilitate the delivery of insulin into the patient’s body. There are mainly two types of diabetes care devices, including the blood glucose monitoring device and the insulin delivery device. The regular monitoring of diabetes improves outcomes and helps in adjusting treatment in real-time. These devices are often used in hospitals, clinics, and other surgical centers.

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The significant factors contributing towards the growth of the Global Diabetes Care Devices Market include the growing incidence of diabetes & obesity and the rising technological advancements as well as spending on the healthcare sector at a global level. According to the WHO, the worldwide prevalence rate of diabetes disease reached 8.5% in 2014. The prevalence rate for diabetes has been rising promptly in the middle to low-income economies. In 2015, around 1.6 million deaths were directly related to diabetes, and approximately half of the patients were below the age of 70 years. The increasing consumption of junk food and alcohol intake are the key factors fuelling the rate of diabetes across the globe. The diabetes care device manufacturers are mainly focusing on technological development in the product to deliver more accurate results. Continuous product innovation will create new opportunities in the market, thereby attracting a large number of consumers to opt for advanced devices. In addition to this, rapid urbanization and high disposable income of middle-class families are encouraging the customers to adopt diabetes care devices for regular self-monitoring and tracking of diabetes. On the other hand, the growing consumer awareness regarding the side effects associated with some of the diabetes care devices will hamper the growth of the market during the forecast period.

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The blood glucose monitoring devices are anticipated to lead the market during the forecast period owing to the increasing modification and technological development in diabetes care devices. The glucose monitoring device provides accurate measurement of the glucose level and gives a warning if the glucose level goes too low or too high. The insulin delivery devices expected to grow at a higher CAGR during the forecast period due to the growing adoption of these devices among the healthcare professionals and patients driven by its remarkable advantages such as high stability and technologically advanced properties.

The home care settings segment is expected to grow at a higher CAGR during the forecast period due to its user-friendly feature at an affordable price range. The end-users have significantly shifted towards the usage of diabetes care devices at home rather than going to clinics or healthcare centers for regular health check-ups. Moreover, the continuous technological advancement in these devices, followed by the increasing research and development activities to make the devices more user-friendly, will further drive the demand of the market over the coming years.

Asia Pacific region is anticipated to lead the GCC diabetes care devices market owing to the increasing government and private funding towards healthcare infrastructure in the Asia Pacific countries. The rapid growth in the population rate in the developing economies, including India, China, and Japan, and the growing consumer awareness regarding the benefits offered by these devices will encourage the consumers towards the usage of diabetes care devices during the forecast period. The continuous advancement in technologies and the numerous initiatives taken by the government to spread awareness, will further propel the demand of these devices in the Asia Pacific countries.

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Major key players in the Global Diabetes Care Devices market include Abbott Laboratories, Becton Dickinson and Company, Bayer Healthcare, Roche Holding AG, Medtronic plc, Dexcom Inc, Biotronik SE, and GlaxoSmithKline, among others.

Key Market Developments:

• • In 2018, Medtronic PLC received U.S. Food and Drug Administration (FDA) approval for its Guardian Connect continuous glucose monitoring (CGM) system for diabetic patients within an age range of 14 to 75 years.
  • In 2018, Abbott announced that its FreeStyle Libre System, one of the company’s revolutionary glucose monitoring system, will now be available to the Medicare patients.

The Global Diabetes Care Devices market has been segmented on the basis of product type, end-user, and key regions. Based on the product type, the market is segmented into blood glucose monitoring device and insulin delivery device. Based on the end-user, the market is segmented into homecare settings, hospitals, and others.

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Key questions answered in this research report:

• • At what pace is the diabetes care devices market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the diabetes care devices market? What will be the impact of drivers and restraints in the coming years?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the diabetes care devices market?
  • What are the various end-user areas and how they are poised to grow?

Market Segmentation:

Global Diabetes Care Devices market by Product Type

• • Blood Glucose Monitoring Device
  • Insulin Delivery Device

Global Diabetes Care Devices market by End-User

• • Hospitals
  • Homecare Setting
  • Others

Global Diabetes Care Devices market by Region

• • North America Diabetes Care Devices market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Diabetes Care Devices market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Diabetes Care Device market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • ROW Diabetes Care Device market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Diabetes Care Devices Leading Market Players (Option 5: As a part of free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abbott Laboratories
  • Becton Dickinson and Company
  • Bayer Healthcare
  • Roche Holding AG
  • Medtronic plc
  • Dexcom Inc
  • Biotronik SE
  • GlaxoSmithKline