Diabetes Device Market Size, Share, Growth Analysis, By Type(BGM Device, Insulin Delivery Device, Continuous Glucose Monitoring), By Distribution Channels(Hospital Pharmacies, Retail Pharmacies, Diabetes Clinics, Online Pharmacies), By Region - Industry Forecast 2024-2031

Diabetes Device Market size was valued at USD 29.01 billion in 2022 and is poised to grow from USD 31.42 billion in 2023 to USD 59.46 billion by 2031, at a CAGR of 8.3% during the forecast period (2024-2031). 

The competitive environment for diabetes treatment devices lists information per competitor. Information covered includes the company's executive summary, financials, revenue generated, market potential, investments in R&D, new market initiatives, presence, production locations and facilities, production capacity, and application domination. Only the companies' focus on the market for diabetic care devices is represented by the data points mentioned above. 'Medtronic (United States)', 'Roche (Switzerland)', 'Johnson & Johnson (United States)', 'Abbott Laboratories (United States)', 'Becton, Dickinson and Company (United States)', 'Novo Nordisk (Denmark)', 'Dexcom (United States)', 'Sanofi (France)', 'Insulet Corporation (United States)', 'Ascensia Diabetes Care Holdings AG (Switzerland)', 'Ypsomed Holding AG (Switzerland)', 'Eli Lilly and Company (United States)', 'LifeScan (United States)', 'Tandem Diabetes Care (United States)', 'Terumo Corporation (Japan)', 'Arkray (Japan)', 'Senseonics Holdings, Inc. (United States)', 'MicroPort Scientific Corporation (China)', 'Nipro Corporation (Japan)', 'Sinocare Inc. (China)', 'AgaMatrix Holdings LLC (United States)', 'Trividia Health, Inc. (United States)'

The rising prevalence of diabetes worldwide is a significant driver for the diabetes device market. Factors such as sedentary lifestyles, unhealthy dietary habits, obesity, and an aging population contribute to the growing incidence of diabetes. As the number of people diagnosed with diabetes increases, there is a higher demand for diabetes devices to manage and monitor the condition effectively.

Insulin delivery systems, including insulin pumps and insulin pens, continue to evolve with advanced features and connectivity options. The market is witnessing a shift towards smart insulin delivery systems that integrate with CGM systems, allowing for automated insulin adjustments based on glucose readings. These systems offer enhanced convenience, precision, and personalized insulin delivery, contributing to improved glycaemic control.

Due to its well-established healthcare industry, North America dominated the market in 2022 and is predicted to continue to do so with a growth rate of around 6.0% compound annual growth rate (CAGR) during the projected period. Along with technical developments and the introduction of new products, the rising incidence of obesity and the high cost of treatment are anticipated to drive the region. Due to a sizable diabetic population and advantageous reimbursement policies, the U.S. dominated the market in North America. The market is primarily driven by high per capita income and rising healthcare spending.