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Diabetes Care Devices Market size worth over $41bn by 2025

  • Published Date: April 18, 2019

Diabetes Care Devices Market size is set to surpass USD 41 billion by 2025, according to a new research report by Global Market Insights.

Obesity is a primary driver for growing prevalence of diabetes. Increasing adoption of unhealthy diet, growing alcohol consumption and tobacco smoking coupled with physical inactivity has escalated obese population base to a great extent.

Technological advancements in devices used for monitoring blood glucose levels and insulin delivery will drive the diabetes care devices market demand. Growing population of health-conscious people adopting continuous glucose monitoring devices and rising awareness regarding body weight management will positively impact the global industry growth.

Several initiatives undertaken by organizations such as the International Diabetes Federation (IDF) to create awareness regarding diabetes care should influence the market revenue growth. However, lack of reimbursement and insurance coverage along with low per capita spending on diabetes management will hamper the market expansion to a certain extent over the coming years.

Browse key industry insights spread across 260 pages with 360 market data tables & 7 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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

Blood glucose monitoring devices accounted for more than 60% market share in 2018 and is projected to witness considerable growth till 2025. Rising awareness regarding diabetes management, and growing number of health-conscious people leading to high adoption of diabetes monitoring devices should boost the blood glucose monitoring devices segment share.

Homecare end-use segment is anticipated to register growth rate of around 6.4% during the forecast period. Skyrocketing growth of home healthcare sector, development of user-friendly and affordable devices along with rising prevalence of diabetes will favor demand for homecare diabetes care devices.

Diabetes Care Devices Market

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China held more than 30% market share of Asia Pacific diabetes care devices market in 2018. Nearly 10.9% total adult population of China suffer from diabetes, as per the IDF. High prevalence of diabetes, increasing rates of obesity and overweight along with physical inactivity will drive China market.

Few notable players operating in the diabetes care devices industry are Abbott Laboratories, B. Braun Melsungen AG, Bayer Corporation, Roche, among others. Companies are currently focusing on developing innovative and user-friendly diabetes management devices that are cost-effective as well as efficient. Market players are resorting to strategies such as partnerships and strategic collaborations with other participants in value chain to expand consumer base and gain competitive edge over other companies.

Authors: Sumant Ugalmugle, Rupali Swain