The global diabetes care devices market is expected to be worth US$ 9.7 billion in 2022 and US$ 17.87 billion by 2032, with a 6.3% CAGR from 2022 to 2032. The diabetes care devices market is driven by rising cases of diabetes and growing usage of insulin delivery devices.
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Shifts in urbanization, a growing preference for a fast-paced urban and sedentary lifestyle together with an unhealthy diet, and rising cases of diabetes have increased the sales of diabetes care devices in the global market. Additionally, technological enhancements in diabetes care devices propel market growth.
Obesity, sedentary lifestyle, and poor diet among other factors are responsible for the upsurge in the diabetic population. Owing to the rising prevalence of diabetes and the high number of deaths – 6.7 million deaths in 2021 – caused by the disease, the demand for diabetes care devices is likely to scale up throughout the assessment period.
Key Takeaways:
- Rising geriatric population, less stringent regulations, and cost-effective labor drive market growth.
- Release of high-end insulin pumps and pens drives demand for diabetes care devices.
- Asia Pacific and the Middle East are driving the demand for diabetes care devices.
- Rapid expansion of the construction industry in China and India will boost the market possibilities for the region.
- Diabetes management mobile applications are predicted to increase at a rapid rate.
- Hospitals and specialty clinic set-ups will dominate the market.
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Competitive Landscape
Abbott Laboratories, ACON Laboratories, Inc., Ascensia Diabetes Care Holdings AG, Becton, Dickinson and Company, Dexcom, Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson, Medtronic plc, Novo Nordisk A/S, Terumo Corporation.
Key Segments
By Type:
- Blood glucose monitoring systems
- Self-monitoring blood glucose monitoring systems
- Continuous glucose monitoring systems
- Test strips/Test papers
- Lancets/Lancing devices
- Insulin delivery devices
- Insulin pumps
- Insulin pens
- Insulin syringes and needles
- Diabetes management mobile applications
By Patient Care Settings:
- Hospitals & specialty clinics
- Self & home care
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Diabetes Care Devices Market Regional Analysis
According to recent FMI reports, North America will continue to dominate the market during the forecast period. Due to its vast diabetic population and advantageous reimbursement regulations, the U.S. is leading the regional market growth.
The Middle East and Asia Pacific region will dominate the diabetes care devices market in terms of growth potential for the forecast period. Rising incidences of diabetes as well as growing awareness regarding diabetes care devices will propel the regional market.
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