Diabetes Care Devices Market Size, By Product (Blood Glucose Monitoring Devices, Insulin Delivery Devices), By End-Use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers, Home Care) & Global Forecast, 2023-2032

Industry Statistics

Diabetes Care Devices Market size exceeded USD 41 billion in 2022 and is set to exhibit more than 9.5% CAGR between 2023 and 2032, as a result of an increase in the burden of lifestyle diseases.
 

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Diet and lifestyle changes are among the key factors in effective diabetes management. With rapid urbanization and the adoption of sedentary lifestyles, the disease burden continues to surge globally. According to statistics from the International Diabetes Federation, in 2021, close to 530 million people aged 20 years to 79 years were diagnosed with diabetes. The disease is also linked to other health conditions including stroke, cardiovascular defects, nerve damage, and infections. The growing awareness about disease control and management to avoid its complications will therefore hasten the development of diabetes medical devices.
 

The increasing level of stress among younger populations is also leading to the surging prevalence of diabetes since stress causes the body to release hormones that raise blood sugar levels, which may further stimulate demand for diabetes care solutions. However, cost concerns may act as a major restraining factor to diabetes care devices industry growth. The rising need for daily insulin dosage in diabetic patients is also causing a financial burden worldwide.
 

Rise in type 1 diabetes incidence will stimulate sales of blood glucose monitoring devices

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Diabetes care devices market share from the blood glucose monitoring devices product segment is slated to depict over 9.5% CAGR through 2032, due to the increasing awareness about type 1 diabetes. Blood sugar monitoring is considered a crucial aspect of managing diabetes, especially in patients with type 1 diabetes, to help make decisions regarding physical activity, food, and insulin dosage. According to the European Association for the Study of Diabetes, in 2021, there were more than 9 million people with type 1 diabetes globally. The steady rise in disease burden is thereby likely to bolster product consumption over the forthcoming years.
 

High preference for remote monitoring to fuel diabetes care device usage in homecare settings

Diabetes care devices market value from the home care end-use segment will surpass USD 39 billion by 2032, given the growing popularity of remote patient monitoring following the COVID-19 outbreak. In recent years, advanced handheld, easy-to-handle insulin delivery and glucose monitoring devices have also been introduced, making self-monitoring easier in homecare settings. These products enable patients to gain on-time medical assistance, lowering the rate of hospital admissions and reducing costs. The rapid development of digital diabetes management supplies for home use will thus add impetus to industry expansion.
 

Increase in obesity burden may proliferate the consumption of diabetes care supplies in Europe

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Europe diabetes care devices market share is projected to be valued at more than USD 31 billion by 2032, on account of the strong presence of sophisticated healthcare infrastructure and reimbursement policies. The prevalence of lifestyle diseases such as obesity is also increasing. As per the WHO estimates, obesity and overweight conditions are leading causes of disability and death in Europe, resulting in more than 1.2 million deaths annually. Since excess body fat is considered a significant risk factor for type 2 diabetes, the adoption of unhealthy lifestyles will create lucrative prospects for regional market development.
 

Advanced product development strategies to strengthen industry share

The competitive landscape of the diabetes care devices market comprises companies such as Sanofi, Bionime Corporation, DarioHealth Corp., Dr. Reddy’s Laboratories (Wockhardt), Novo Nordisk A/S, Insulet Corporation, Eli Lilly and Company, Becton Dickinson and Company, Nova Biomedical, Inc., Abbott Laboratories, Sinocare Inc., Medtronic Plc, Johnson & Johnson (Lifescan, Inc.), Dexcom, Inc., B. Braun Melsungen AG, and Arkray, Inc., among others. These firms are implementing strategies such as product range and business expansions to boost their footprint in the global market.
 

For instance, in June 2022, Abbott launched a bio wearable, designed to aid in continuous blood glucose and ketone monitoring using a single sensor. This initiative allowed the company to enhance its product offerings and expand its regional footprint in the diabetes care devices industry.
 

Influence of COVID-19 outbreak on diabetes care devices market dynamics

The COVID-19 pandemic asserted a profound impact on global industry verticals including healthcare, mainly due to the commencement of lockdowns and strict movement regulations. However, continuous glucose monitoring devices, developed for accurate tracking of glucose level fluctuations, continued to gain traction for diabetes management in homecare settings, thereby ensuring regular disease maintenance while limiting exposure to the virus. Several industry players including Dexcom also observed an increase in revenue share during the pandemic, further asserting a positive influence on diabetes care device development.
 

The diabetes care devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

• Blood glucose monitoring devices
  • Self-monitoring blood glucose meters
  • Continuous glucose monitors
  • Testing strips
  • Lancets
• Insulin delivery devices 
  • Insulin pumps
    • Tubed pumps
    • Tubeless pumps
  • Pens
    • Reusable
    • Disposable
  • Pen needles
    • Standard
    • Safety
  • Syringes
  • Others

By End-use

• Hospitals
• Ambulatory surgery centers
• Diagnostic centers
• Home care
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Netherlands
  • Sweden
  • Belgium
  • Denmark
  • Finland
  • Norway
  • Lithuania
  • Latvia
  • Estonia
  • Others
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Others
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Others
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Egypt
  • Israel
  • Kuwait
  • Qatar
  • Others