Diabetes Care Devices Market Size 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}), By End-Use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers, Home Care), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

Industry Overview

Diabetes Care Devices Market size surpassed USD 36 billion in 2021 and is poised to exhibit a CAGR of over 10% between 2022 and 2030. Growing incidences of diabetes and associated health disorders to stimulate product demand.
 

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The increasing prevalence of diabetes, specifically the type 2 variant, is likely to propel the sales of diabetes care devices. According to the International Diabetes Federation (IDF), nearly 537 million adults between 20-79 years of age have diabetes. Studies reveal that diabetes can lead to several health complications such as gangrene, kidney failure, stroke, blindness, lower limb amputation, heart attack, etc., making its control and management extremely essential.
 

WHO estimates suggest that compared to high-income economies, diabetes is more prevalent in low and middle-income nations, attributed to the increasing obese and overweight population, limited disease awareness, sedentary lifestyles, and compromising living conditions. The considerable rise in disease burden and the rollout of several government awareness programs may boost the diabetes care devices industry landscape.
 

Rising awareness about diabetes control and management to drive the demand for blood glucose monitoring devices

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With respect to the products, the diabetes care devices market is bifurcated into blood glucose monitoring devices and insulin delivery devices. The blood glucose delivery devices segment accounted for over USD 22 billion in 2021 and is expected to exhibit an appreciable CAGR from 2022 to 2030. This is credited to the expanding geriatric populace and their higher susceptibility to type 2 diabetes. The awareness about diabetes control and management, along with possible risks and complications associated with the disease, has grown substantially over recent years. In addition, the emerging self-monitoring trends, and the availability of these devices at affordable price points across various sales channels will aid the segment expansion.
 

Availability of advanced equipment to help hospitals emerge as a prominent end-use segment

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Based on end-use, the diabetes care devices market is fragmented into hospitals, ambulatory surgery centers, diagnostic centers, and home care. The ambulatory surgery centers segment is anticipated to account for over 5% of the revenue share by 2030. The increasing number of patients preferring these medical settings may propel the market progression. Ambulatory surgery centers are convenient, offer quick stays, and are also equipped with advanced diabetes monitoring devices, making them a preferred healthcare alternative.
 

Increasing healthcare spending to support the industry expansion across North America

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North America diabetes care devices market accounted for over 40% of the business share in 2021 and is expected to emerge as a major revenue pocket during the projection period. The increasing disease awareness and the subsequent rise in healthcare expenditure are some of the primary reasons fueling the regional industry size. Besides, the escalating efforts by leading product manufacturers to develop advanced products at competitive prices may further support North American market expansion.
 

Footprint expansion to emerge as a key growth strategy

The notable players operating in the diabetes care devices market include Abbott Laboratories, Arkray, Inc., B. Braun Melsungen AG, Dexcom, Inc., F. Hoffmann-La Roche AG, Johnson & Johnson (Lifescan, Inc.), Medtronic PLC, Sinocare Inc., Ascensia Diabetes Care Holdings AG., Nova Biomedical, Inc., Becton Dickinson, and Company, Sanofi, Eli Lilly and Company, Insulet Corporation, Novo Nordisk, Dr. Reddy’s Laboratories (Wockhardt), Ypsomed Holding AG, Pendiq GmbH, Tandem Diabetes Care, Inc, DarioHealth Corp., Bionime Corporation.
 

These companies have been pouring in consistent efforts to expand their global footprint and elevate their presence in the market through new product development, expansion of the existing product line, holding strategic exchanges, and meeting customers' expectations. For instance, in April 2021, Nova Biomedical reported the launch of its new service, sale, and distribution subsidiary in Benelux. Through the launch, the company planned to deliver a range of cell culture analyzers, comprising critical care and point-of-care whole blood analyzers. The move helped the business to expand its presence in the European market.
 

Impact of COVID-19 on the diabetes care devices market value

The onset of the COVID-19 pandemic positively influenced the market statistics. The imposition of strict regulatory mandates restricting movement and non-essential hospital visits due to the increased risk of viral transmission pushed the demand for continuous glucose monitoring (CGM) devices. The prospects of higher susceptibility to infection in patients with diabetes raised concerns about self-control and management of diabetes, resulting in burgeoning product sales through online sales channels. Besides, the surging demand for minimally invasive devices at affordable prices will further create new growth avenues for the diabetes care devices industry.
 

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 2017 to 2030, for the following segments:

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
  • Other

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
  • Others
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Others