Global Diabetes Care devices Market

Diabetes Care Devices Market Size, Share, Growth Analysis, By Type (Blood glucose monitoring systems, Insulin delivery devices), By Patient Care Settings (Self/Home Healthcare, Hospitals & Diabetes Specialty Clinics), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35B2182 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 75 | Figures: 75

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.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Diabetes Care Devices Market size was valued at USD 2.8 billion in 2022 and is poised to grow from USD 3.26 billion in 2023 to USD 10.90 billion by 2031, growing at a CAGR of 16.3% during the forecast period (2024-2031). 

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. 'F. Hoffman-La Roche Ltd. ', 'Abbott ', 'Ascensia Diabetes Care Holdings AG ', 'Dexcom, Inc. ', 'Medtronic PLC ', 'B. Braun Melsungen AG ', 'Becton, Dickinson and Company ', 'Arkray, Inc. ', 'Sanofi ', 'Novo Nordisk A/S ', 'Terumo Corporation ', 'Ypsomed ', 'Sinocare, Inc. ', 'AgaMatrix Holdings LLC ', 'SD Biosensor, Inc. ', 'Microgene Diagnostic Systems Pvt. Ltd. ', 'Dr. Morepen ', 'Bionime Corporation ', 'Rossmax International Ltd.'

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.

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.

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Diabetes Care devices Market

Report ID: SQMIG35B2182

$5,300
BUY NOW GET FREE SAMPLE