Global Diabetes Devices Market Size By Product (Blood Glucose Monitoring, Insulin Delivery, Pens and Pen Needles), By Distribution Channels (Hospital Pharmacies, Retail Pharmacies, Diabetes Clinics and Centers), By End-Use Outlook (Hospitals, Homecare, Diagnostic Centers), By Geographic Scope And Forecast
Global Diabetes Devices Market Size By Product (Blood Glucose Monitoring, Insulin Delivery, Pens and Pen Needles), By Distribution Channels (Hospital Pharmacies, Retail Pharmacies, Diabetes Clinics and Centers), By End-Use Outlook (Hospitals, Homecare, Diagnostic Centers), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Diabetes Devices Market size was valued at USD 27.96 Billion in 2021 and is projected to reach USD 45.12 Billion by 2030, growing at a CAGR of 5.46% from 2023 to 2030.
Diabetes care devices are used to keep track of a diabetic patient’s blood glucose levels. These devices also aid in the delivery of insulin into the body of the patient. The major factor driving the growth of the Diabetes Devices Market is an increase in the incidence rate of diabetes caused by rapid urbanization and a sedentary lifestyle. Furthermore, technological advancements in the field of diabetes devices, an increase in the obese population, junk food consumption, and an increase in the need for faster and safer diabetes diagnosis and treatment are all expected to boost market growth.
Global Diabetes Devices Market Definition
Diabetes innovation alludes to the equipment, gadgets, and computer program that individuals with diabetes utilize to assist them to oversee their blood glucose levels, maintain a strategic distance from diabetes complications, diminish the burden of living with diabetes, and move forward with their quality of life. It is ordinary to have a blood sugar level of less than 140 mg/dL (7.8 mmol/L). After two hours, a blood sugar level of more than 200 mg/dL (11.1 mmol/L) shows diabetes. Prediabetes is characterized as a blood sugar level of 140 to 199 mg/dL (7.8 to 11.0 mmol/L).
Diabetes? It's basically when your body has trouble managing the amount of glucose, or sugar, in your blood. See, when you eat carbs, they break down into glucose, which makes your blood sugar levels go up. And your liver? It's got a stash of glucose too, using it to keep your blood sugar from dropping too low when you're not eating. But things are getting better all the time with diabetes technology! Gadgets are becoming easier to use and less of a hassle, everything from blood glucose meters and continuous glucose monitoring (CGM) to advanced insulin pumps and beyond. There are a ton of options out there to help you find what works best for you.
Global Diabetes Devices Market Overview
One of the major factors driving the global Diabetes Devices Market is the introduction of novel products in diabetes monitoring systems and treatment devices. Tandem Diabetes Care, Inc., for example, received FDA approval in February 2019 to market the first insulin pump with interoperable technology for children and adults with diabetes. The slim X2 insulin pump is the first device to go through a new de novo premarket review pathway. In January 2019, Bigfoot Biomedical declared a collaboration with Eli Lilly and Company to create counterfeit intelligence-based arrangements for optimizing affront conveyance and dosing.
Key market players are investing in emerging countries to meet unmet needs. For example, Amazon launched a medical device brand in October 2018 that focuses primarily on diabetes and cardiovascular disease. The new brand, Choice, will launch with blood glucose and blood pressure monitors, as well as accompanying mobile apps that provide measurement tracking, data mobility, and other features. These types of initiatives are expected to raise public awareness and drive global demand for diabetes devices, thereby propelling the market forward.
Diabetes is becoming more common around the world, particularly in developing economies such as China and India. The growing awareness of diabetes monitoring devices, as well as untapped market opportunities in developing countries, are expected to provide numerous opportunities for market expansion. The rapidly rising prevalence of diabetes can be attributed to several factors, including rapid urbanization and an increase in sedentary lifestyles, particularly in developing economies.
According to the International Diabetes Federation, around 425 million adults had diabetes in 2017, with that number expected to rise to around 630 million by 2045. China, India, the United States, Brazil, and Mexico are estimated to account for 55.0 percent to 60.0 percent of the global diabetes population, according to these studies. China and India account for about 44.0 percent of the world’s diabetes patients. the market is hampered by the negative effects associated with some diabetes care devices.
Global Diabetes Devices Market Segmentation Analysis
The Global Diabetes Devices Market is segmented on the basis of Product, Distribution Channels, End-Use Outlook, and Geography.
Based on the Distribution Channels, the market is bifurcated into hospital pharmacies, retail pharmacies, diabetes clinics and centers, and online pharmacies, and others.
Diabetes Devices Market, By End-Use Outlook
• Hospitals• Homecare• Diagnostic Centers
Based on the End-Use Outlook, the market is bifurcated into Hospitals, Homecare, Diagnostic Centers.
Diabetes Devices Market, By Geography
• North America• Europe• Asia Pacific• Rest of the world
Based on regional analysis, the Global Diabetes Devices Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The market is divided into five regionsNorth America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Because of the large number of patients and favorable reimbursement conditions, North America dominates the market. According to the International Diabetes Federation, there were 48 million diabetics in North America in 2019, with that number expected to rise to 63 million by 2045.
Key Players
Want to know what's happening in the "Global Diabetes Devices Market"? Our study report gives you the scoop, focusing on the global scene and highlighting key players like Roche Diagnostics Ltd, Johnson and Johnson, Bayer AG, Abbott Laboratories, Acon Laboratories, Medtronic plc, Terumo Corporation, Dexcom, Novo Nordisk A/S, Ypsomed AG. We've dedicated a whole section to these big names, where our analysts dig into their financial statements, benchmark their products, and run SWOT analyses. Plus, our competitive landscape section breaks down their key strategies, market share, and global ranking.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2018-2030
BASE YEAR
2021
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2018-2020
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Roche Diagnostics Ltd, Johnson and Johnson, Bayer AG, Abbott Laboratories, Acon Laboratories, Medtronic plc, Terumo Corporation, Dexcom
SEGMENTS COVERED
By Product, By Distribution Channels, By End-Use Outlook, By Geography
CUSTOMIZATION SCOPE
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Reasons to Purchase this Report
We dig deep, using both number-crunching and understanding the human side of the market, breaking it down into segments based on economic and other factors. You'll get the market value in USD Billion for every segment and sub-segment. We'll also point out the region and segment poised for the most rapid growth and market leadership. Our geographical analysis highlights product/service consumption in each region, pinpointing what's influencing the market there. We also provide a competitive landscape, showing the market ranking of major players, plus new service/product launches, partnerships, business expansions, and acquisitions from the last five years of companies we've profiled. Expect extensive company profiles covering company overview, insights, product benchmarking, and SWOT analysis for the big players. Get a handle on the present and future market outlook, considering recent developments like growth opportunities, drivers, and challenges in both emerging and developed regions. We provide in-depth market analysis using Porter's five forces and offer insights into the market's Value Chain. Finally, we give you the market dynamics scenario, showcasing growth opportunities in the years ahead, plus 6 months of post-sales analyst support.
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