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Diabetes Care Devices Market size to exceed $107 Bn by 2032

  • Published Date: March 9, 2023

Diabetes Care Devices Market size is projected to cross USD 107 billion by 2032, according to a new research report by Global Market Insights Inc.

The increasing development of novel non-invasive diabetes care supplies is one of the key reasons driving diabetes care devices market expansion. For example, the DEXCOM G4 Platinum continuous glucose monitor with an in-built hypoglycemia safety alert feature was designed to provide access to real-time glucose readings to up to 5 caregivers through the cloud. The integration of digital software with diabetes medical devices also aids in better control of blood sugar levels. The reliance on advanced technologies to design convenient and portable test devices for insulin-dependent patients will drive product consumption.

Likewise, the high awareness regarding blood glucose level monitoring education will create lucrative prospects for advanced self-monitoring diabetes care device manufacturers. However, regulatory bodies including the U.S. EPA have been introducing strict guidelines associated with the use of safe and effective diabetes medical devices. These regulations, alongside the lack of favorable reimbursement policies, may assert a negative influence on the global industry outlook in the upcoming years.

Prediabetes awareness programs will accelerate production of insulin-delivery devices

Diabetes care devices market share from the insulin delivery devices product segment is slated to depict over 10% CAGR by 2032. This growth is driven by partnerships of professional associations, such as the American Medical Association, with media companies to launch prediabetes awareness campaigns. Major factors contributing to vast product usage include low cost, high efficiency, and ease of use. The escalating development of minimally invasive diabetes monitoring techniques will also proliferate its sales over the forecast period.

Browse key industry insights spread across 352 pages with 841 market data tables & 18 figures & charts from the report, 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, 2023 – 2032” In detail along with the table of contents:


Rising need for diabetes risk tests may stimulate adoption of care devices in diagnostic centers

The diagnostic centers segment is expected to reach more than USD 11 billion by 2032, considering the mounting number of prediabetic patients and high disease incidence. Government bodies have also undertaken varied initiatives to increase awareness regarding effective diabetes diagnosis and treatment, resulting in higher demand for diagnostic tests.

Growing elderly population will foster development of diabetes care device in APAC

Asia Pacific diabetes care devices market size is slated to register over 11% CAGR by 2032, owing to funding programs to deliver enhanced diabetes care services. The population of baby boomers who are at higher risk of developing chronic diseases such as diabetes is also increasing.

 As per the United Nations, by 2050, 1 in 4 people in the APAC region will be over 60 years of age. Such factors, in addition to the strong focus on delivering cost-effective medical devices for diabetes care, will add impetus to regional industry expansion, the report cites.

Strategic partnership deals by major players will influence market trends

Bionime Corporation, ARKRAY, Inc., DarioHealth Corp., Dr. Reddy’s Laboratories (Wockhardt), Novo Nordisk A/S, Insulet Corporation, Eli Lilly and Company, Becton Dickinson and Company, Medtronic Plc, F. Hoffmann-La Roche Ltd., Dexcom, Inc., and B. Braun Melsungen AG, are some of the leading companies in the global diabetes care devices market.

Authors: Rupali Swain, Subodh Kharad