USD 33.53 billion
Diabetes Care Devices and Drugs Market Size, Share, Growth Analysis, By Product(Blood glucose monitoring devices and Insulin delivery devices), By End use(Hospitals, Ambulatory surgery centres, Diagnostic centres, Home care), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2119 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
62
|Figures:
75
Diabetes Care Devices and Drugs Market Insights
Diabetes Care devices and Drugs Market size was valued at USD 33.53 billion in 2022 and is poised to grow from USD 36.18 billion in 2023 to USD 66.47 billion by 2031, at a CAGR of 7.9% during the forecast period (2024-2031).
Blood glucose levels are maintained by the pancreatic hormone insulin. The diabetes occurs when the body does not produce enough insulin to control blood glucose levels. Diabetes care gadgets are used to keep track of a patient's blood glucose levels. A continuous glucose monitor is a medical device used to track and monitor a diabetic patient's blood glucose levels throughout the day. This wearable gadget can be useful for individuals with diabetes as it can make managing glucose levels easier.
Diabetes is one of the largest global health problem of the 21st century. Every year more and more people live with the condition, which can lead to life-changing complications. According to the International Diabetes Federation (IDF), approximately 537 million adults aged 20-79 years have diabetes. Studies have shown that diabetes can lead to many health complications such as gangrene, kidney failure, paralysis, blindness, amputation of lower limbs, heart attack, etc., Which makes its control and management very necessary. According to WHO estimates, compared to high-income economies, the prevalence of diabetes is higher in low- and middle-income nations, due to increasing obesity and overweight populations, limited disease awareness, sedentary lifestyles, and compromised lifestyles.
An increase in the number of newly diagnosed cases of type 1 and type 2 diabetes is observed, mainly due to obesity, unhealthy diet and physical inactivity. Currently, about 10% of all diabetes cases are Type-1 and the remaining are Type-2 in 2021. The increasing prevalence of diabetes, especially type 2, is likely to boost the sales of diabetes care devices. Rapidly increasing incidence and prevalence of diabetic patients in developed countries and healthcare costs are indicates that increasing use of diabetic care products. The increasing adoption of insulin delivery devices and the rising prevalence of diabetes are driving market growth. Leading manufacturers are focusing on technological innovations and advanced product development to gain significant market share.
US Diabetes Care Devices and Drugs Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Blood glucose monitoring devices
Fastest Growth
Blood glucose monitoring devices
Growth Rate
7.9% CAGR
Global diabetes care devices and drugs market 2022-2030 ($ Bn)
Country share for North America region- 2022 (%)
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Diabetes Care Devices and Drugs Market Segmental Analysis
Global diabetes care devices and drugs market is segmented based on product, end use and region. Based on product, global diabetes care devices and drugs market is sub-segmented into blood glucose monitoring devices and insulin delivery devices. Based on end use, diabetes care devices and drugs market is sub-segmented into hospitals, ambulatory surgery centres, diagnostic centres, and home care. Based on region, global diabetes care devices and drugs market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Product
Based on product, global diabetes care devices and drugs market is sub-segmented into blood glucose monitoring devices and insulin delivery devices. The blood glucose monitoring devices dominated the global market in 2022. This is attributed to the growing aging population and their high susceptibility to type 2 diabetes. Emerging self-monitoring trends and availability of these devices at affordable prices across the world will help the segment expansion. The insulin delivery devices segment is further divided into insulin pens, insulin pumps, insulin syringes, disposable insulin pens, and reusable insulin pens. The prevalence of diabetes has increased due to the increased adoption of unhealthy lifestyles. The insulin delivery devices market is the one that is growing at the highest rate due to product innovation as well as the popularity of pens and other pulse devices that help in the monitoring of blood glucose levels in the body.
Analysis by End Use
Based on end use, diabetes care devices and drugs market is sub-segmented into hospitals, ambulatory surgery centres, diagnostic centres, and home care. Hospital segment dominated the global market with in 2022. Increasing number of hospital admissions of diabetes patients is driving the growth of this segment. Diabetes technology has evolved rapidly over the past few years. Much of the technology is aimed at improving diabetes care in hospitals and clinics. This advancement in technology has increased use of insulin pumps in hospitals and clinics. The homecare segment is expected to grow at a profitable compound annual growth rate (CAGR) of 7.4% during the forecast period. Government initiatives to raise awareness about diabetes and the user-friendly interface of insulin pumps are increasing the demand for insulin pumps in homecare sub segment. Also, a growing aging population is increasing the demand for homecare.
Global diabetes care devices and drugs market by product, 2022 (%)
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Diabetes Care Devices and Drugs Market Regional Insights
Based on region, global diabetes care devices and drugs market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the global market in 2022. According to world health organization, In North America, there are more than 29 million diabetic patients and this number is expected to increase to 34 million by 2027. The increase in number of diabetes patients in Europe, lower prices of insulin and insulin delivery devices, increasing demand and sale of insulin delivery devices are the key factors driving the growth of global market.
Asia Pacific is the fastest growing region in the global diabetes care devices market due to increasing diabetic population, government initiatives to increase awareness about self-diabetes management, and increasing technological advancements in the region. According to Down to Earth, on December 6, 2021, the estimated number of diabetic patients aged 20-79 in 2021 is 74.2 million and is expected to increase to 124.8 million in 2045 in India. China accounted for the largest revenue share in the global market in 2022. This is dominated by the high population of diabetics in the country and increasing number of funds for management and diabetes care devices market.
The Middle & East Africa (MEA) and Latin America are expected to grow at significant CAGR during forecast period. The increasing diabetic population, rising investment in healthcare industry and rising awareness about disease diagnosis and monitoring are the key factors that drive the growth of global diabetes care devices and drugs market in this region.
Global diabetes care devices and drugs market by Geography, 2022-2030
- Largest
- Fastest
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Diabetes Care Devices and Drugs Market Dynamics
Driver
Introduction of new and technologically advanced products
- The introduction of new products in diabetes monitoring systems and treatment devices is one of the major factors driving the growth of the global diabetes care devices and drugs market. For example, in April 2020, researchers at Portugal's Universidade de Lisboa reported that coating insulin-loaded nanoparticles with chitosan could enhance oral delivery of insulin. Increasing R&D investments and research collaborations may create more opportunities for the further growth of the market.
Increasing use of stick free glucose testing
- One of the major factors driving the growth of the diabetes care devices market is the increasing use of stick-free glucose testing. Stick-free glucose testing is beneficial because it is difficult to repeatedly use needle sticks to test blood sugar. Continuous glucose monitoring (CGM) helps patients avoid obesity. A CGM measures a patient's blood sugar every few minutes through a small sensor inserted under the skin of the abdomen or arm and sends the results wirelessly to a pump, smartphone or other device.
Restraint
Lack of reimbursement and strict regulations
- The lack of reimbursement, severe restrictions, and rising obesity rates associated with diabetes care devices in some countries may hamper the growth of global diabetes care devices and drugs market. Lack of awareness about diabetes diagnosis and treatment, especially in emerging economies is expected to hamper the growth of the global diabetes devices and drugs market.
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Diabetes Care Devices and Drugs Market Competitive Landscape
Global diabetes care devices and drugs market is highly competitive and fragmented. To maintain a competitive edge, global diabetes care devices major players are working on their market growth by introducing more innovative products that are easy to purchase the consumer and provide more innovative and painless solutions. The intensity of competition among players is high, each player is trying to develop a new device and offer it at a competitive price. Also, to increase their market shares, players are entering new markets, especially in emerging economies where demand is much higher than supply.
On March 24, 2022 Zyla Health is transforming the management of diabetes and related diseases through its technological innovation and continuum of care. Zyla has launched a joint offering with Accu-Chek, for Diabetics, a smart glucometer and continuous diabetes care under the authority of leading doctors and specialists that enables you to effectively manage a chronic condition like diabetes. The offer was launched on Amazon and Flipkart and is now available for users across the country to avail.
On March 11, 2021, Roche announced the launch of the new Accu-Chek Instant System, a new connected blood glucose monitoring (BGM) system, which supports and enables Roche's approach to integrated personalized diabetes management (iPDM).
Top Player's Company Profiles
- Novo Nordisk A/S
- Eli Lilly and Company
- Sanofi S.A.
- Merck & Co., Inc.
- Abbott Laboratories
- Becton, Dickinson and Company
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson Services, Inc.
- Medtronic plc
- Dexcom, Inc.
- Insulet Corporation
- Ypsomed AG
- Ascensia Diabetes Care Holdings AG
- Tandem Diabetes Care, Inc.
- Senseonics Holdings, Inc.
- B. Braun Melsungen AG
- Terumo Corporation
- AstraZeneca
- Boehringer Ingelheim International GmbH
- Novartis AG
Recent Developments
- In February 2024, Tandem Diabetes Care announced that it kicked off the U.S. commercial launch of its Mobi insulin patch pump. The company says Mobi, which is fully controllable from a mobile app, is the world’s smallest durable automated insulin delivery (AID) system. It received FDA clearance for people with diabetes ages six and up in July 2023.
- In January 2024, Glenmark Pharmaceuticals Ltd., a research-led, global pharmaceutical company, launched a biosimilar of the popular10,11 anti-diabetic drug, Liraglutide, for the first time in India. The drug is being marketed under the brand name Lirafit™ following the approval from the Drug Controller General of India (DCGI).
- In December 2023, Cosmos Health Inc., a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced that it has entered into a definitive agreement, subject to customary closing conditions, with a related party to acquire the license and rights for "DIABIT-IS X", a drug used in the treatment of type-2 diabetes.
- In April 2022, Abbott, CamDiab, and Ypsomed announced their collaboration to develop an integrated automated insulin delivery (AID) system throughout Europe. The connected, smart wearable solution is designed to continuously monitor and automatically adjust a person's glucose levels and deliver the right amount of insulin at the right time, eliminating the guesswork of insulin dosing.
- In February 2022, Abbott (US) received US FDA approval for use of the Freestyle Libre 14-Day Flash Glucose Monitoring System in hospitals.
Diabetes Care Devices and Drugs Key Market Trends
- Due to the coronavirus (pandemic), global market trend is going to be positive for the market. Individuals diagnosed with diabetes are at a higher risk of contracting the coronavirus and hence demand has increased over the past few years as people look to monitor their diabetes levels. Individuals who were diagnosed with diabetes were looking to avoid hospital visits and stays, and so devices were important for managing illness.
Diabetes Care Devices and Drugs Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global diabetes care devices and drugs market analysis, according to the International Diabetes Federation (IDF), approximately 537 million adults aged 20-79 years have diabetes. An increase in the number of newly diagnosed cases of type 1 and type 2 diabetes is observed, mainly due to obesity, unhealthy diet and physical inactivity. The blood glucose monitoring devices held largest market share and expected to grow more during forecast period. Due to increase in number of diabetes patients in Europe, lower prices of insulin and insulin delivery devices, increasing demand and sale of insulin delivery devices, North America held the largest share of global market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 33.53 billion |
| Market size value in 2031 | USD 66.47 billion |
| Growth Rate | 7.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Diabetes Care Devices and Drugs Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Diabetes Care Devices and Drugs Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Diabetes Care Devices and Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Diabetes Care Devices and Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Diabetes Care Devices and Drugs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Diabetes Care Devices and Drugs Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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