United States Diabetes Care Devices Market

Introduction of the United States Diabetes Care Devices Market Report

Diabetes care devices refer to the devices that allow diabetes patients to monitor the glucose level of their body. There are basically two types of diabetes care devices: blood glucose monitoring devices and insulin delivery devices. The insulin delivery devices enable to control the blood sugar level, whereas the blood glucose monitoring devices are often used to test the level of glucose in the blood.

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Market Dynamic

Key Drivers and Emerging Trends

The factors that are augmenting the United States diabetes care devices market’s growth include the accelerating number of diabetic patients in the country. As per research conducted by U.S. Department of Health and Human Services in 2018, among the total U.S. population, around 34.2 million or 10.5% of the population had diabetes. Moreover, 210,000 children and adolescents younger than the age of 20 years has been diagnosed diabetes, which is approximately 0.25% of the total population. This percentage was around 18,200 for the year 2014-15 combing both the type 1 diabetes and type 2 diabetes patients. Diabetes care devices are used to control glucose levels in the blood. Thus, the increasing number of diabetes patients is a major driver that is contributing to the growth of the market. Continuous technological innovation in these devices are further supplementing growth such as the introduction of Dexcom G6, which collects real-time glucose data over a ten day period and comes with both blinded and unblinded mode. In the blinded mode, the real-time glucose data is hidden from the patient and reviewed with the healthcare professional at the end of the session. The country is also witnessing strong demand for insulin pens as compared to cartridges as they have comparatively less cost.

Additionally, the increasing prevalence of obesity and hypertension in the United States is further driving the growth of the diabetes devices market size in the U.S. According to a report published by the Centers for Disease Control and Prevention, the prevalence rate of obesity was around 42.4% during 2017-18. Various obesity-related conditions such as heart diseases, type 2 diabetes, stroke, and other types of cancer are some of the causes of preventable and premature death. Moreover, the government has launched the “National Diabetes Prevention Program,” which is a partnership between the public and private organizations that are working to prevent or delay type 2 diabetes in the country. Thus, the increasing number of initiatives and programs related to the prevention of diabetes is further driving the growth of the diabetes care devices market in the U.S.

Restraint in the United States Diabetes Care Devices Market

The factors which are responsible for hampering the growth of the United States diabetes care devices market include the increasing awareness related to the various side effects of the diabetes care devices. For instance, the long-term use of insulin pumps can lead to weight gain and daytime sleepiness.

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Product Type – Segment Analysis

Based on the product type, the blood glucose monitoring device segment is expected to grow at a higher CAGR during the forecast period. The accelerating demand of this type of device by the diabetic population and the rising prevalence of diabetes are the two major factors that are propelling the growth of the segment. Moreover, the growing awareness related to the benefits of monitoring the glucose level of diabetic patients is further driving the segment’s growth.

End-User – Segment Analysis

On the basis of the end-user, the home care setting segment is projected to increase at a higher CAGR during the forecast period. The emergence of the COVID-19 pandemic has encouraged diabetes patient’s to opt for home care settings rather than visiting hospitals to reduce the chances of contracting the coronavirus. Moreover, the significant shift in the diabetic patient’s preference to opt for self-monitoring glucose devices as they help in decreasing the cost as compared to the clinics and hospitals is another factor that is opening the new doors for the segment’s growth.

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Segments covered in the Report:

The United States diabetes care devices market has been segmented on the basis of product type and end-user. Based on the product type, the market is segmented into the insulin delivery device and blood glucose monitoring device. Based on end-user, the market is segmented into homecare setting, hospitals, and others. 

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Key questions answered in this research report:

• • At what pace is the United States diabetes care devices market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the United States diabetes care devices market? What will be the impact of drivers and restraints in the future?
  • Which product type generated maximum revenues in 2019 and identify the most promising product type during the forecast period?
  • What are the various end-users of the United States diabetes care devices market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

United States Diabetes Care Devices Market by Product Type

• • Insulin Delivery Device
  • Blood Glucose Monitoring Device

United States Diabetes Care Devices Market by End-User

• • Homecare Setting
  • Hospitals
  • Others