USD 26.7 billion
Diabetes Care Devices Market Size, Share, Growth Analysis, By Product(Blood glucose monitoring devices (Self-monitoring blood glucose meters, continuous glucose monitors, testing strips, lancets)), By End-use(Hospitals, ambulatory surgery centres, diagnostic centres, home care), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2182 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
75
|Figures:
75
Diabetes Care Devices Market Insights
Diabetes Care Devices Market size was valued at USD 26.7 billion in 2019 and is poised to grow from USD 29.02 billion in 2023 to USD 56.57 billion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).
As diabetes is a life-threatening, chronic disorder for which there is no treatment, it is becoming a global pandemic affecting millions of individuals worldwide. Type-1 diabetes is caused by an immune system defect, but Type-2 diabetes is related to a sedentary lifestyle, which leads to insulin resistance.
Increasing prevalence of diabetes, specifically the type 2 variant, is likely to propel the sales of diabetes care devices. According to the International Diabetes Federation (IDF), nearly 537 million adults between 20-79 years of age have diabetes.
As studies reveal that diabetes can lead to several health complications such as gangrene, kidney failure, stroke, blindness, lower limb amputation, heart attack, etc., making its control and management extremely essential.
WHO estimates suggest that compared to high-income economies, diabetes is more prevalent in low and middle-income nations, attributed to the increasing obese and overweight population, limited disease awareness, sedentary lifestyles, and compromising living conditions.
The considerable rise in disease burden and the rollout of several government awareness programs will boost the diabetes care devices industry market during the forecast period.
US Diabetes Care Devices 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
8.7% CAGR
Global Diabetes Care Devices Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Diabetes Care Devices Market Segmental Analysis
Diabetes Care Devices Market is segmented on the basis of product type, end user, and region. By product, theDiabetes Care Devices Market segment is divided into blood glucose monitoring devices and insulin delivery devices. Blood glucose segment is further segmented into self-monitoring blood glucose meters, continuous glucose monitors, testing strips, and lancets. Insulin delivery devices are further segmented into insulin pumps (tubed pumps and tubeless pumps), pens (reusable and disposable), pen needles (standard and safety), syringes, and others. By end use, the market is segmented into hospitals, ambulatory surgery centers, diagnostic centers, home care, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Diabetes Care Devices Market Analysis by Product Type
Blood glucose monitoring devices segment accounted for over USD 22 billion in 2021 and is expected to exhibit an appreciable CAGR from 2022 to 2028. This is credited to the expanding geriatric populace and their higher susceptibility to type 2 diabetes.
The awareness about diabetes control and management, along with possible risks and complications associated with the disease, has grown substantially over recent years.
Diabetes Care Devices Market Analysis by End User
Ambulatory surgery centre segment is anticipated to account for over 5% of the revenue share during the forecast period. The increasing number of patients preferring these medical settings may propel the market progression.
Ambulatory surgery centres are convenient, offer quick stays, and are also equipped with advanced diabetes monitoring devices, making them a preferred healthcare alternative.
Global Diabetes Care DevicesMarket By Product, 2021 (%)
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Diabetes Care Devices Market Regional Insights
Due to its well-established healthcare industry, North America is expected to continue to dominate the global diabetes care devices market share. According to projections, the U.S. market will rise due to factors such as the rising prevalence of obesity, the high cost of treatment, technological advancements, and new product introductions.
The diabetes care devices market is anticipated to develop at the fastest rate in Asia Pacific. Devices for the treatment of diabetes are commonly utilised in Asian nations like China and India. The rise in sales in APAC nations is due to factors including greater knowledge of diabetes and changes in the healthcare environment. The market for diabetes care devices is expected to develop as a consequence of nations like China and India adopting more technologically advanced products as a result of rising healthcare spending.
Global Diabetes Care Devices Market By Geography, 2021-2028
- Largest
- Fastest
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Diabetes Care Devices Market Dynamics
Diabetes Care Devices Market Drivers
Rising Prevalence of Sedentary Lifestyle and Subsequent Diabetic Problems to Boost demand for Diabetic Care Devices Market
- Rising adoption of insulin-delivery devices and the rising prevalence of diabetes are driving the market growth. An increasing number of people are being diagnosed with Type-2 diabetes due to a sedentary lifestyle and unhealthy choices. According to the International Diabetes Federation (IDF), around 537 million adults have diabetes. This can lead to the development of various chronic diseases in the human body. Therefore, the need to regulate and control diabetes is important.
- Patients across the globe are increasingly becoming aware of their ailments and are seeking treatment in hospitals and clinics. A shift in awareness and the need to cure diabetes is also boosting the demand for diabetic care devices in the global market. As diabetes is more prevalent in middle and lower-middle-class families, the market will find lucrative opportunities in emerging economies with favourable reimbursements.
- Limited awareness and compromising living conditions in these emerging economies will boost the demand for these products in the global market. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.
Diabetes Care Devices Market Restraint
Inaccessibility and Low Awareness in Remote and Underdeveloped Regions will Hinder Growth of Global Diabetes Care Devices Market
- Global diabetes care devices market will likely face hindrances during the forecast period as many patients in underdeveloped regions do not have access to these devices. Long registration process and issues related to reimbursement will further cause market restraints.
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Diabetes Care Devices Market Competitive Landscape
Global Diabetes Care Devices Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Diabetes Care Devices Market Top Player’s Company Profiles
- Abbott Laboratories
- Ascensia Diabetes Care
- Becton, Dickinson and Company
- Dexcom, Inc.
- Eli Lilly and Company
- F. Hoffmann-La Roche AG
- Insulet Corporation
- Johnson & Johnson
- Medtronic plc
- Nova Biomedical
- Novo Nordisk A/S
- Omron Healthcare, Inc.
- Sanofi S.A.
- Tandem Diabetes Care, Inc.
- Terumo Corporation
- Trividia Health, Inc.
- Ypsomed AG
- ARKRAY Inc.
- Glooko, Inc.
- GlySens Incorporated
Diabetes Care Devices Market Recent Developments
- In April 2022, Abbott, CamDiab, and Ypsomed announced the partnership to develop and commercialize an integrated automated insulin delivery (AID) system in European countries. The connected, smart wearable solution is designed to continuously monitor a person's glucose levels and automatically adjust and deliver the right amount of insulin at the right time, removing the guesswork of insulin dosing.
Diabetes Care Devices Key Market Trends
Rising Trend of Health Awareness and Conscious Consumerism will Bring Lucrative Opportunities for Global Diabetes Care Devices Market
- Increased adoption of test strips and self-monitoring blood glucose meters and rising demand for continuous glucose monitoring with increasing awareness of the disease in developing countries are major reasons leading to the growth of the diabetes monitoring devices segment. WHO indicates that more than 60% of the worldwide population isn't adequately dynamic. The World Wellbeing Organization expresses that active work is one of the life-supporting elements and the danger of type 2 diabetes ascends with expanding body weight at all ages. People are becoming more conscious about their health and wellbeing, therefore players can find lucrative growth opportunities in the global market.
Diabetes Care Devices 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 analysis, the pandemic highlighted opportunities for continuing and expanding innovations in the delivery of diabetes care, through virtual consultations between healthcare providers and people with diabetes, and the use of diabetes technology. Crisis management has created unprecedented interest in remote care from both patients and providers and removed many long-standing regulatory barriers.
The US Food and Drug Administration has allowed the use of personal blood glucose meters and continuous glucose monitoring devices in hospitals for the duration of the pandemic. The COVID-19 outbreak increased the diabetes care device market growth globally, thus providing players with a profitable window of opportunity to grow.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 26.7 billion |
| Market size value in 2031 | USD 56.57 billion |
| Growth Rate | 8.7% |
| 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:-
|
| Historical Year | 2019 |
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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 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 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 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 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 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 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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