Diabetes Devices Market Share, Size, Trends, Industry Analysis Report, By Type (BGM Devices, Continuous Glucose Monitoring Devices, Insulin Delivery Devices); By End-use; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jun-2024
- Pages: 116
- Format: PDF
- Report ID: PM1326
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Diabetes Devices Market size was valued at USD 29.67 billion in 2023. The market is anticipated to grow from USD 31.94 billion in 2024 to USD 59.32 billion by 2032, exhibiting the CAGR of 8.0% during the forecast period.
Market Overview
The rise in the prevalence of diabetes due to faulty lifestyles, aging, and obesity are key determinants for the adoption of diabetes care devices. As per studies done by the (NCBI), obesity is the major cause of diabetes. It reports that if the same trend continues, by 2035, around 50% of the global population will be obese, which may lead to a surge in cases of people who have type II diabetes. Other contributory risk factors include smoking, alcoholism, and a high-fat diet causing high cholesterol levels, thereby fostering the demand for diabetes devices.
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- For instance, as per the International Diabetes Federation (IDF), in 2021, around 11 Mn adults in Japan were diagnosed with diabetes, with a prevalence rate of 11.8%. It is also reported that 1 in 5 people aged above 60 years have diabetes.
Moreover, the aging population in Europe and Japan also contributes to the demand. As per the OECD, in Europe, diabetes is more common in old age people. It reported that 19.3 Mn people aged 60-79 years have been diagnosed with diabetes, as compared to 11.3 Mn in 40-59 and 1.7 Mn in 20-39 age groups. The likelihood & severity of type II diabetes is closely linked with the BMI. It is estimated that there is seven times more risk of diabetes among obese, as compared to healthy people, and overweight people also have three times more risk. However, fat distribution is considered an important parameter in the development of type II diabetes.
Growth Factors
The Rising Incidence of Diabetic Patients has Spurred the Demand for Diabetes Devices
Diabetes devices play a pivotal role in monitoring the blood sugar levels and insulin levels as well as mange the condition effectively. As the prevalence of diabetes is rapidly increasing, there is a growing need for better management to achieve blood glucose control to prevent complications and reduce the burden of the disease.
- For instance, according to a report published by the Indian Ministry of Health and Family Welfare, the prevalence of diabetes in India was estimated at 101 million cases in 2023.
Technological Advancements in Diabetes Devices are Propelling the Market Growth
The technology is constantly improving in safety, bioanalytical performance and duration of wearing time, bio-compatibility, and other clinical features. Continuous innovation in diabetes device technology has led to the development of devices with integration with digital health platforms. These advancements in diabetes devices enable patients to understand the condition better and make informed decisions to control their blood sugar levels. For instance, in March 2024, Dexcom announced the launch of the very first CGM system in the market, which can be connected directly to the Apple Watch. In addition to this, Afon Technology, a medical device manufacturer, is focusing on developing a non-invasive, continuous blood glucose monitor named Glucowear to track and record changes in blood glucose levels.
Restraining Factors
Higher Economic Costs are Likely to Limit the Market Growth
According to the World Health Organization, diabetes is one of the top 10 causes of death in the world. Diabetes prevalence and incidence rates have been increasing faster in low and middle-income countries across the globe. The costs for diabetes treatment are relatively high. This is attributed to a lack of insurance coverage for the treatment by policymakers and a limited number of specialists in developing countries. Additionally, the low focus on the prevention and diagnosis phases of the disease is another prominent factor that will hamper the market growth in the near future.
Report Segmentation
The Diabetes Devices Market is primarily segmented based on type, end-use, distribution channel, and region.
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By Type |
By End-use |
By Distribution Channel |
By Region |
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By Type Insights
The Insulin Delivery Devices Segment Held the Largest Market share
Insulin delivery devices segment accounted for the largest market share in 2023. Insulin delivery devices range from simple patches to insulin pumps to automated insulin delivery (AID) systems. It also aids in taking insulin and the wide range of devices available in the market. Additionally, a large number of diabetic patients across the globe require insulin to manage their glucose levels.
- For instance, according to the article published by the European Commission, more than 33 million people live with diabetes in the European Union region.
The blood glucose monitoring devices segment is expected to grow at a moderate rate. This growth is primarily due to the availability of low-cost BGM devices, coupled with continuous product launches. In line with this, in January 2024, Dexcom introduced Stelo, a CGM monitor for people suffering from type II diabetes who don’t require insulin. Such initiatives are expected to increase the adoption rate in the coming years.
Regional Insights
The North American Region Dominated the Global Market in 2023
North America dominated the global market. This dominance is due to a favorable reimbursement scenario through Medicare. The region also boasts cost-effective & efficient diabetes devices. Moreover, investments in digital health to improve patient outcomes also favor growth.
- According to the study published by Allis Health in 2021, prominent fund receivers include Noom (USD 540 Mn), Carbon Health (USD 350 Mn), and MircoTech Medical (USD 255 Mn). The average investment for digital diabetes providers stood at USD 60 Mn.
Asia Pacific is expected to grow rapidly. Growth is attributed to the presence of major players collaborating with smaller payers to manufacture low-cost diabetes devices. The rise in the diagnosis rate, awareness among middle-class people regarding its ill effects, and stressful working conditions are also contributing to the region’s growth.
- As per the study by the Madras Diabetes Research Foundation in collaboration with the Indian Council of Medical Research (ICMR) and the Union Health Ministry, titled “Metabolic non-communicable disease health report of India,” India has 11.7% diabetes and 15.3% pre-diabetes prevalence rate. With the highest cases reported in Goa, Punjab, and Kerala.
Key Diabetes Devices Market Players & Competitive Insights
Strategic Partnerships to Drive the Competition
The global diabetes devices Market involves numerous key players, and the anticipated arrival of new businesses is poised to intensify competition. Established market players are constantly focused on enhancing their product portfolio in order to maintain a competitive advantage and secure a decent market share.
Some of the major players operating in the global market include:
- Abbott Diabetes Care
- B Braun Melsungen AG
- BD
- Biocorp
- DexCom, Inc.
- Johnson & Johnson
- GlucoModicum
- LifeScan Inc.
- Medtronic PLC
- Molex
- Novo Nordisk
- Phillips-Medisize
- Roche Diabetes Care
- Senseonics, Inc.
- Tandem Diabetes Care, Inc.
Recent Developments in the Industry
- In March 2023, Roche Diabetes Care Japan announced a partnership with Astellas Pharma for the commercialization of the Accu-Chek.
- In July 2023, CharmHealth & Bioverge invested in “My Diabetes Tutor,” an app dedicated to improving patient outcomes in the diabetic population.
Report Coverage
The global diabetes devices market report emphasizes key countries worldwide to better understand the product for users. It also provides market insights into recent developments and trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers an in-depth qualitative analysis of various paradigm shifts associated with the transformation of these solutions.
The report provides a detailed analysis of the market while focusing on various key aspects such as competitive analysis, type, end-user, distribution channel, and futuristic growth opportunities.
Global Diabetes Devices Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 31.94 billion |
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Revenue Forecast in 2032 |
USD 59.32 billion |
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CAGR |
8.0% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
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Regional scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, countries, and segmentation. |
FAQ's
Global Diabetes Devices Market Size Worth $ 59.32 Billion By 2032
The top market players in Diabetes Device Market are Abbott Diabetes Care, Dexcom, BD, Medtronic PLC
North American is the region contribute notably towards the Diabetes Device Market
Diabetes Devices Market exhibiting the CAGR of 8.0% during the forecast period.
Diabetes Device Market report covering key segments are type, end-use, distribution channel, and region.
