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 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.