With a 6.3% compound annual growth rate (CAGR) from 2022 to 2032, the worldwide diabetes care devices market is projected to be valued US$ 9.7 billion in 2022 and US$ 17.87 billion by that time..
Changes in urbanisation, a growing preference for a fast-paced urban and sedentary lifestyle combined with an unhealthy diet, and an increase in diabetes cases have increased global sales of diabetes care devices. Furthermore, technological advancements in diabetes care devices drive market growth.
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Obesity, sedentary lifestyle, and poor diet, among other factors, are to blame for the rise in diabetics. Diabetes care device demand is expected to increase throughout the assessment period due to the rising prevalence of the disease and the high number of deaths — 6.7 million deaths in 2021 — caused by the disease.
Key Takeaways:
- Market growth is being driven by an ageing population, laxer regulations, and more affordable labour.
- Demand for diabetes care devices is being driven by the release of high-end insulin pumps and pens.
- Diabetes care device demand is being driven by Asia Pacific and the Middle East.
- The rapid expansion of the construction industry in China and India will expand market opportunities in the region.
- Diabetes management mobile applications are expected to grow rapidly.
- The market will be dominated by hospitals and specialty clinic setups.
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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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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