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Diabetes Care Devices Market

Market Insights on Diabetes Care Devices covering sales outlook, demand forecast & up-to-date key trends

Diabetes Care Devices Market Analysis By Type (SMBG, CGMS, Lancets, Insulin Pumps, Insulin Pens), Patient Care Setting (Hospitals & Specialty Clinics, Self & Home Care) & Region - Forecast to 2022-2032

Diabetes Care Devices Market Overview

The global Diabetes care devices market is advancing at an average rate to record a CAGR of 6.3% from 2022-2032.

“Accuracy in the diabetes care devices is one factor that justifies the pricing. End users believe accuracy and sensitivity of these devices are important parameters when it comes to spending on diabetes care devices.”  

Growing health consciousness among individuals and readiness to lead a woke life with an eye on health along with the high rise in number of diabetic populace are considered to be the primary factors contributing to the growth of the diabetes care devices market.

Attributes

Details

 Diabetes care devices Market value (2022)

US$ 9.7 Bn

 Diabetes care devices Market CAGR (2022-2032)

6.3%

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What Contributes to Sluggish Growth of the Diabetes Care Devices Market?

“There is a surge in global diabetes patients and its increasing as the everyday lifestyle is also getting inactive. The awareness is leading people to monitor their health.”

The factors driving the growth of the market in the BRIC region are increasing population of diabetes, low diagnosis rate; initiative taken by the government and mainly due to dynamic participation from the companies.

The market for diabetes care devices exhibits high growth potential as the saturation level for the devices are expected to be very low. Advancement and innovation in diabetes care devices will further boost the market growth.

Sabyasachi Ghosh
Principal Consultant
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What is the Regional Outlook for the Diabetes Care Devices Market?

“Countries with high population density are goldmine for companies operating in the diabetes care devices market.”

BRICS region is the largest market for diabetes care device market. But the factors restraining the growth of the market differs in different region of BRIC. But some of the common barriers in the growth market are illiteracy about the use of devices, incomplete awareness about the disease and its problems, limitations by geography, long registration process of medical devices and development of alternative solutions.

As the issues of settlement are common, the market in the BRIC region is expected to increase exponentially. Diabetes care devices cost low and are comfortable in use will remain the most popular.

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Key Segments

Attributes

Details

Forecast Period

2022-2032

Historical Data Available for

2015-2020

Market Analysis

US$ Bn for Value and Units for Volume

Type

  • SMBG

  • CGMS

  • Lancets

  • Insulin Pumps

  • Insulin Pens

  • Insulin Syringes

  • Mobile Apps

By Patient Care Setting

  • Hospitals & Specialty Clinics

  • Self & Home Care

By Region

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern Europe
  • Middle East & Africa

Key Players

  • Abbott Laboratories
  • ACON Laboratories, Inc.
  • Ascensia Diabetes Care Holdings AG
  • Becton
  • Dickinson and Company
  • Dexcom, Inc.
  • F. Hoffmann-La Roche Ltd
  • Johnson & Johnson
  • Medtronic plc
  • Novo Nordisk A/S
  • Terumo Corporation

Frequently Asked Questions

The global diabetes care devices market is anticipated to register a CAGR of 6.3% from 2022 to 2032.

The global diabetes care devices market in likely to cross US$ 16 Bn valuation by 2032.

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Sabyasachi Ghosh
Principal Consultant
LinkedIn
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Diabetes Care Devices Market