[324 Pages Report] The global diabetes care devices market size is projected to be valued at US$ 9.7 Bn in 2022 and is anticipated to reach US$ 17.87 Bn by 2032, with a rapid CAGR of 6.3% from 2022 to 2032.
“The demand for diabetes care devices is primarily driven by factors such as increased technology breakthroughs and an increase in obesity prevalence. Furthermore, rising diabetes prevalence and increased usage of insulin delivery devices are boosting diabetes care devices market expansion.”
| Attributes | Details |
|---|---|
| Diabetes Care Devices Market CAGR (2022 to 2032) | 6.3% |
| Diabetes Care Devices Market Value (2022) | US$ 9.7 Billion |
| Diabetes Care Devices Market Value (2032) | US$ 17.87 Billion |
An increase in the incidence of diabetes, as well as shifts in urbanization and sedentary lifestyle, are important factors driving the diabetes care devices market growth. Furthermore, technological improvements in the field of diabetes devices, as well as an increase in the diabetic population is propelling the demand for diabetes care devices during the forecast period.
Diabetes is becoming more prevalent globally, accounting for 6.7 million deaths by 2021. (Source: International Diabetes Federation). As a result, the demand for diabetes care devices is likely to grow throughout 2022-2032.
The massive growth in the diabetic population is primarily attributable to rising obesity rates around the world, as well as sedentary lifestyles defined by poor diets and decreased physical exercise. Due to these factors, the diabetes care devices market share is projected to witness growth during the projection period.
During the projection period, the sales of diabetes care devices are anticipated to grow due to an increase in the requirement for quick and safe diagnosis, as well as an increase in diabetes therapies.
A surge in diabetes monitoring device awareness, as well as unexplored markets in developing nations, are likely to provide growth opportunities in the diabetes care devices market.
Blood glucose monitoring systems, on the other hand, do not measure the exact quantity of glucose in the blood but rather provide a range of blood glucose levels. Furthermore, unfavorable effects associated with various diabetes treatment devices are anticipated to restrain diabetes care devices market expansion.
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The sales of diabetes care devices are anticipated to grow as they help diabetic patients avoid longer hospital stays and higher mortality rates. In response to the pandemic's urgency, the United States Food and Drug Administration (FDA) published recommendations allowing the use of home-use devices in hospital settings.
By reducing patient encounters, this safeguarded the safety of healthcare staff. Thus, the adoption of diabetes care devices proved crucial in patient management, reducing total healthcare expenses, particularly in resource-constrained settings.
One of the factors driving the demand for diabetes care devices market is the rise in diabetes incidence due to old age, obesity, and an unhealthy lifestyle. Furthermore, factors such as smoking, being overweight, obesity, and having high cholesterol levels are projected to increase the prevalence of diabetes, hence increasing the sales of diabetes care devices.
Diabetes is becoming more common in places such as the Middle East and Asia Pacific, which is driving up demand for diabetes care devices. Thus, the presence of untapped growth potential in quickly emerging MEA and Asian economies, as well as rising diabetes awareness in these regions, are expected to drive sales of diabetes care devices
A large elderly population, economical healthcare facilities, cost-effective labor, and less severe regulatory laws are some of the factors driving diabetes care devices manufacturers to expand their operations. Diabetes care device manufacturers are now focusing on capitalizing on opportunities in developing markets to increase their diabetes care devices market share.
Latest trends in diabetes care devices market, such as the launch of high-end insulin pumps and pens, are driving demand for diabetes care devices. To achieve a significant market share, leading diabetes care device companies are focused on technological advances and the creation of innovative products.
Diabetes Care Devices Market:
| Attributes | Diabetes Care Devices Market |
|---|---|
| CAGR (2022 to 2032) | 6.3% |
| Market Value (2032) | US$ 17.87 Billion |
| Growth Factor | Growing health consciousness as well as an increase in the diabetic population, are thought to be the key reasons driving the growth of the diabetes care devices market. |
| Opportunity | Increasing diabetes monitoring device popularity, and untapped markets in emerging countries are projected to provide growth opportunities in the diabetes care devices market. |
| Key Trends | Diabetes care device demand is being driven by recent trends in the market, such as the introduction of high-end insulin pumps and pens. |
Blood Glucose Monitoring Devices Market:
| Attributes | Blood Glucose Monitoring Devices Market |
|---|---|
| CAGR (2022 to 2032) | 8% |
| Market Value (2032) | US$ 12.65 Billion |
| Growth Factor | The growing awareness of diabetes preventive care and new product introductions are driving market expansion. |
| Opportunity | The COVID-19 pandemic has created new opportunities for blood glucose monitoring devices, which have grown in prominence in the diabetic care sector. |
| Key Trends | Self-monitoring of blood glucose has transformed home-based glucose monitoring, making it the most extensively used method of short-term glucose monitoring worldwide. |
Self-Monitoring Blood Glucose Devices Market:
| Attributes | Self-Monitoring Blood Glucose Devices Market |
|---|---|
| CAGR (2022 to 2032) | 4.2% |
| Market Value (2032) | US$ 14.51 Billion |
| Growth Factor | The increase can be linked to causes such as an increase in diabetes incidence rates and an increase in risk factors that contribute to diabetes. |
| Opportunity | Technological improvements in the field of blood glucose monitoring devices, as well as an increase in the elderly population, drive the growth of the self-monitoring blood glucose devices market. |
| Key Trends | The increased awareness of diabetes monitoring devices is likely to give substantial potential for market expansion. |
The diabetes care devices market outlook is anticipated to expand as technology advances and early detection of hypo- and hyperglycemia becomes more common. The number of diabetic patients worldwide is fast increasing as a result of rapid lifestyle changes, alcohol intake, and smoking.
Obesity is also one of the primary causes of diabetes which is propelling the demand for diabetes care devices. According to World Health Organization data, there were over 650 million obese persons in 2016, and this figure is likely to rise throughout the forecasted period (2020 to 2028). However, limited reimbursement and high costs associated with the adoption of diabetes care devices devices, as well as product recalls, are significant challenges restraining the growth of diabetes care devices market size.
The sales of diabetes care devices are expected to grow substantially throughout the anticipated period. Continuous blood glucose monitoring products aid in the analysis of glucose levels since they provide continuous and real-time blood sugar measurements.
Principal Consultant
Diabetes management mobile applications are expected to increase at the fastest rate during the forecast period, owing to its comfort, ease of use, and utility in giving real-time insights about diabetic status to patients and healthcare providers for integrated diabetes management.
Insulin delivery devices are the fastest growing sector in the global diabetes devices market, accounting for more than 57 percent of the market in 2021. However, the pump category is predicted to obtain a significant diabetes care devices market size due to the fastest CAGR throughout the projection period.
Due to benefits such as portability and accuracy, the use of blood glucose metres is gradually rising. Diabetes care devices market participants are also working on the development of these devices, with the introduction of tiny blood glucose metres.
In 2021, the hospital and specialty clinics sector dominated the diabetes care devices market with a share of 40.9 percent. The rising frequency of diabetic hospitalizations is driving up demand for diabetes care devices. Diabetes patients are three times more likely to be hospitalised than individuals who do not have diabetes.
Diabetes care devices has advanced considerably in recent years. The majority of these technologies are aimed towards improving diabetes care in hospitals and clinics. These technological improvements have boosted the use of insulin pumps in hospitals and clinics.
North America dominated the diabetes care devices market in 2021 and is predicted to lead the market with a compound annual growth rate (CAGR) of more than 6.0 percent throughout the forecast period due to its well-established healthcare sector.
The rising prevalence of obesity and the high cost of treatment, as well as technical developments and new product launches, are projected to drive the diabetes care devices market growth in the U.S.
Due to its vast diabetic population and advantageous reimbursement regulations, the United States dominated the diabetes care devices market in North America. Among the primary elements driving diabetes care devices market are high per capita income and rising healthcare spending.
The American Diabetes Association estimates that the average projected cost of diabetes-specific treatments per person in 2019 was USD 9,505.60. A diabetic patient in the United States may expect to spend about USD 16,750 on medical expenses per year. Furthermore, smart device usage and technological breakthroughs such as the use of AI and data analytics are fueling diabetes care devices market expansion.
Asia Pacific is expected to have the highest growth potential in the diabetes care devices market. Diabetes care devices are widely used in Asian countries such as China and India. Factors such as increased diabetes awareness and an altering healthcare landscape are to blame for the increased sales of diabetes care devices in APAC countries.
Furthermore, increased healthcare spending has resulted in increased adoption of technologically advanced products in countries such as China and India, which is projected to enhance diabetes care devices market growth.
The diabetic care devices market is moderately fragmented, with only a few major and generic manufacturers. The top players in the diabetes care devices diversify their business portfolios by releasing new products, acquiring companies, enhancing existing products and technology, and engaging in other actions to increase their visibility.
In August 2016, for example, Roche introduced the Accu-Chek Guide blood glucose monitoring gadget. The device was intended by the firm to help users easily achieve glucose targets; the device provides glucose monitoring throughout the day.
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The degree of competition among the competitors is great. Startups in diabetes care devices market are striving to develop a new product and offer it at a competitive price. Furthermore, in order to improve their market shares, new companies are expanding into new markets, particularly emerging economies where demand exceeds supply.
Startups in the diabetes care devices industry are using a range of strategies to increase their market share, including product development, geographic expansion, mergers, acquisitions, and collaborations.
Diabetes care devices market is projected to have a CAGR of 6.3% through 2032.
North America is the leading region in the diabetes care devices market.
Hospitals and specialty clinics segment is expected to dominate the market.
Diabetes care devices market is predicted to grow US$ 17.87 Bn by 2032.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. Value Chain Analysis 3.5.1. Profit Margin Analysis 3.5.2. Service Providers 3.6. PESTLE and Porter’s Analysis 3.7. Regulatory Landscape 3.7.1. By Key Regions 3.7.2. By Key Countries 3.8. Regional Parent Market Outlook 4. Global Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) Analysis By Type, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Type, 2022-2032 5.3.1. Blood Glucose Monitoring Devices 5.3.2. Insulin Drug Delivery Devices 5.4. Y-o-Y Growth Trend Analysis By Type, 2017-2021 5.5. Absolute $ Opportunity Analysis By Type, 2022-2032 Deep-dive segmentation will be available in the sample on request 6. Global Market Analysis 2017-2021 and Forecast 2022-2032, By End Use 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) Analysis By End Use, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By End Use, 2022-2032 6.3.1. Hospital 6.3.2. Clinics 6.3.3. Ambulatory Surgical Centers 6.3.4. Home Care 6.4. Y-o-Y Growth Trend Analysis By End Use, 2017-2021 6.5. Absolute $ Opportunity Analysis By End Use, 2022-2032 Deep-dive segmentation will be available in the sample on request 7. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Mn) Analysis By Region, 2017-2021 7.3. Current Market Size Value (US$ Mn) Analysis and Forecast By Region, 2022-2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia & Pacific 7.3.6. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country 8.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021 8.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By End Use 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By End Use 8.4. Key Takeaways 9. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country 9.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021 9.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032 9.2.1. By Country 9.2.1.1. Mexico 9.2.1.2. Brazil 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By End Use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By End Use 9.4. Key Takeaways 10. Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. U.K. 10.2.1.5. Spain 10.2.1.6. BENELUX 10.2.1.7. Russia 10.2.1.8. Rest of Europe 10.2.2. By Type 10.2.3. By End Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By End Use 10.4. Key Takeaways 11. East Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Type 11.2.3. By End Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By End Use 11.4. Key Takeaways 12. South Asia & Pacific Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. ASEAN 12.2.1.3. Australia and New Zealand 12.2.1.4. Rest of South Asia & Pacific 12.2.2. By Type 12.2.3. By End Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By End Use 12.4. Key Takeaways 13. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. Turkey 13.2.1.3. South Africa 13.2.1.4. Rest of MEA 13.2.2. By Type 13.2.3. By End Use 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By End Use 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. U.S. 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2021 14.1.2.1. By Type 14.1.2.2. By End Use 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2021 14.2.2.1. By Type 14.2.2.2. By End Use 14.3. Mexico 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2021 14.3.2.1. By Type 14.3.2.2. By End Use 14.4. Brazil 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2021 14.4.2.1. By Type 14.4.2.2. By End Use 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2021 14.5.2.1. By Type 14.5.2.2. By End Use 14.6. Italy 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2021 14.6.2.1. By Type 14.6.2.2. By End Use 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2021 14.7.2.1. By Type 14.7.2.2. By End Use 14.8. U.K. 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2021 14.8.2.1. By Type 14.8.2.2. By End Use 14.9. Spain 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2021 14.9.2.1. By Type 14.9.2.2. By End Use 14.10. BENELUX 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2021 14.10.2.1. By Type 14.10.2.2. By End Use 14.11. Russia 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2021 14.11.2.1. By Type 14.11.2.2. By End Use 14.12. China 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2021 14.12.2.1. By Type 14.12.2.2. By End Use 14.13. Japan 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2021 14.13.2.1. By Type 14.13.2.2. By End Use 14.14. South Korea 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2021 14.14.2.1. By Type 14.14.2.2. By End Use 14.15. India 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2021 14.15.2.1. By Type 14.15.2.2. By End Use 14.16. ASEAN 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2021 14.16.2.1. By Type 14.16.2.2. By End Use 14.17. Australia and New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2021 14.17.2.1. By Type 14.17.2.2. By End Use 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2021 14.18.2.1. By Type 14.18.2.2. By End Use 14.19. Turkey 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2021 14.19.2.1. By Type 14.19.2.2. By End Use 14.20. South Africa 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2021 14.20.2.1. By Type 14.20.2.2. By End Use 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Type 15.3.3. By End Use 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. Becton, Dickinson and Company 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Sanofi-Aventis 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Eli Lilly and Company 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Abbott 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Johnson & Johnson Services, Inc. 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Bayer HealthCare AG 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Novartis AG 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Hoffmann-La Roche Ltd 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Merck KGaA 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. Medtronic 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Diabetes Care Devices Market
