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

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.