Diabetes Care Devices Market

Diabetes Care Devices Market is valued at USD 26.14 Billion in 2021 and expected to reach USD 45.09 Billion by 2028 with the CAGR of 8.1% over the forecast period. 

Global Diabetes Care Devices market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing use of stick free glucose testing, rising prevalence of diabetics, and growing technological advancements are some of the major factors driving the growth of the Global Diabetes Care Devices Market. 

Scope of Global Diabetes Care Devices Market Report- 

Diabetes care devices are basically used to determine the blood sugar level in the body due to insulin production. Diabetes care devices are provided to diabetic patients to effectively monitor blood glucose levels and improve treatment for this chronic condition. Continuous glucose monitor (CGM) is a medical device that monitors and monitors a diabetic patient's blood glucose throughout the day. This wearable device is particularly useful for people with diabetes as it can help them manage glucose levels. Different types of devices that monitor diabetes conditions include ketone monitors, blood glucose monitors, smart insulin pens, continuous glucose monitors, insulin pumps, and diabetes management applications. Glucose monitoring devices help maintain and control glucose levels, improving patient health. 

The covid-19 pandemic has shown a positive impact on the growth of the global diabetes care devices market. This is because patients with a variety of health problems, including diabetes and high blood pressure, have a higher risk of contracting the virus. Patients with diabetes have a higher mortality rate than the general population. People with diabetes need constant insulin and care. Thus, the demand for close monitoring & optimal management of diabetes increased the adoption of insulin pens & continuous glucose monitoring devices during pandemic. 

The global diabetes care devices market is segmented on the product, end-use, and region & country level. Based on product, the global diabetes care devices market is segmented into blood glucose monitoring devices, and insulin delivery devices.  Blood glucose monitoring devices are further sub-divided into testing strips, lancets, self-monitoring blood glucose meters and continuous glucose monitors. Insulin delivery devices are further sub-divided into insulin syringes, insulin pens, insulin jet injectors and insulin pumps. By end-use, the global diabetes care devices market is segmented into retail pharmacies, hospital pharmacies, diabetes clinics/centers, online pharmacies and others. 

The regions covered in the global diabetes care devices market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global diabetes care devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc. 

Key Players of Global Diabetes Care Devices Market Report- 

Some major key players for the global diabetes care devices market report cover prominent players like Acon Laboratories, Inc., Becton, Dickinson and Company, Dexcom, Inc., Johnson & Johnson, Medtronic Plc, Novo Nordisk A/S, Terumo Corporation, F. Hoffmann-La Roche Ltd., Ascensia Diabetes Care Holdings Ag, Abbott Laboratories, and others.  

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 26.14 Billion
Base year considered	2021
Forecast Period CAGR %:	8.1%
Market Size Expected in 2028:	USD 45.09 Billion
Tables, Charts & Figures:	175
Pages	200
Diabetes Care Devices Key Players	Acon Laboratories, Inc., Becton, Dickinson and Company, Dexcom, Inc., Johnson & Johnson, Medtronic Plc, Novo Nordisk A/S, Terumo Corporation, F. Hoffmann-La Roche Ltd., Ascensia Diabetes Care Holdings Ag, Abbott Laboratories, and others.
Segments Covered	By Product, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

News- 

Zyla Partnered with Accu-Chek to Revolutionize Diabetes Care Through IoT 

On March 24th, 2022; Zyla Health is revolutionizing the management of diabetes and related diseases through its technological innovation and constant care. Zyla has launched a joint offer with Accu-Chek, which offers the best in both worlds for diabetics - A smart glucometer and continuous diabetes care under the authority of leading doctors and specialists that enable you to effectively manage a long-term condition such as diabetes. The offer was launched on Amazon and Flipkart and is now available for users across the country to take advantage of. 

Roche Announced the Launch of Connected Blood Glucose Monitoring System 

On March 11th, 2021; Roche announced the launch of the new Accu-Chek Instant system, a new """"connected"""" blood glucose monitoring (BGM) system, which supports and enables Roche’s approach of integrated Personalised Diabetes Management (iPDM). Accu-Chek Instant features Bluetooth enabled connectivity to the mySugr app, allowing wireless transfer of blood glucose results to the mySugr app. This app offers users quick insights to their diabetes data in addition to diabetes management features like the mySugr insulin calculator.   

First Implantable Continuous Glucose Monitor Received FDA Approval for Type 1 and Type 2 Diabetes 

On January 23rd, 2019; The U.S. Food and Drug Administration approved the first implantable continuous glucose monitoring (CGM) device for people with type 1 and type 2 diabetes. The device, called the Eversense Continuous Glucose Monitoring System, provides monitoring for up to three months, and it’s approved for people age 18 and older, according to an FDA press release on June 21st. 

Increasing Use of Stick Free Glucose Testing, Rising Cases of Diabetes, and Growing Technological Advancements are Some of the Major Factors Driving the Market Growth  

One of the major factors driving the growth of the diabetes care devices market is the increasing use of stick-free glucose testing. Stick-free glucose testing is beneficial because repeatedly using needle sticks to check blood sugar is unpleasant. Testing blood sugar helps patients make lifestyle decisions such as what to eat, how often to exercise, and the amount of insulin. Continuous glucose monitoring (CGM) helps patients avoid stickiness. CGM measures a patient's blood sugar every few minutes through a small sensor inserted under the skin of the abdomen or hand and sends the results wirelessly to a pump, smartphone, or other devices. For instance; on January 16th, 2020; Tandem Diabetes Care launched a slim X2 insulin pump with control-IQ technology in the US. It is the first system that both adjusts for background insulin levels and provides automatic mealtime dosing to prevent blood sugar from getting too low or too high.  

In addition, the rising cases of diabetes is boosting the growth of the diabetes care devices market. Obesity, sedentary lifestyle, and aging are some of the leading causes of diabetes worldwide. After all, obesity is a major factor in the development of diabetes in individuals. Obesity and being overweight are some of the risk factors associated with diabetes. Diabetes is a chronic condition in which the pancreas does not produce enough insulin or use it efficiently to regulate sugar in the body. Type 2 diabetes is caused by the body's poor use of insulin. Excess body weight and physical inactivity are major causes of diabetes. For instance; according to IDF Diabetes Atlas, Diabetes is responsible for 6.7 million deaths in 2021 - 1 every 5 seconds. The huge increase in the diabetic population is mainly due to the increased obesity rate around the world and the sedentary lifestyle characterized by poor diet and low physical activity. In low- and middle-income nations, the spread is growing rapidly. So, this factor is also fostering the demand for diabetes care devices.  

Moreover, the growing technological advancements is also boosting the diabetes care devices market. For instance; on May 4th, 2022; GOQii launched an integrated lifestyle medicine program for diabetics. It helps to identify and confirm hypoglycaemia early. This device can help humans to understand the effects of drugs. High sugar levels can also be a sign of an infection, a glucometer can help detect such an infection. 

However, the lack of reimbursement & strict regulations in some countries, and rising obesity rates associated with diabetes care devices may hinder the growth of the global diabetes care devices market. Despite that, increasing R&D investments and research collaborations may create more opportunities for the further growth of the market. 

North America Holds a Major Share in the Global Diabetes Care Devices Market:  

Geographically, North America is expected to capture a major share in the global diabetes care devices market within the forecast period due to the increasing population suffering from diabetes, rising demand for diabetes care devices, and the presence of key players in this region. For instance; according to the Central for Disease Control & Prevention, on January 18th, 2022; 37.3 million people have diabetes (11.3% of the US population). Therefore, the increasing prevalence of diabetes is expected to fuel the market growth over the forecast period. In addition, the rising demand for diabetes care devices is another factor boosting the market. For instance; according to US Food and Drug Administration, on July 28th, 2021; FDA Approved the first interchangeable biosimilar insulin product for the treatment of diabetes. 

The Asia Pacific is the fastest-growing region in the global diabetes care devices market due to the increasing diabetic population, rising government initiatives to increase awareness about self-diabetes management, and growing technological advancements in this region. For instance; according to Down to Earth, on December 6th, 2021; The estimated number of diabetic patients in the age group of 20-79 is 74.2 million in 2021 and is expected to increase to 124.8 million in 2045 in India.  

Global Diabetes Care Devices Market Segmentation:

By Product

• Blood Glucose Monitoring Devices
• Testing Strips
• Lancets
• Self-monitoring Blood Glucose Meters
• Continuous Glucose Monitors
• Insulin Delivery Devices
• Insulin Syringes
• Insulin Pens
• Insulin Jet Injectors
• Insulin Pumps  

By End-Use

• Retail Pharmacies 
• Hospital pharmacies 
• Diabetes Clinics/Centers
• Online Pharmacies
• Others 

Diabetes Care Devices Market Key Players:

• Acon Laboratories, Inc.
• Becton, Dickinson and Company
• Dexcom, Inc.
• Johnson & Johnson
• Medtronic Plc
• Novo Nordisk A/S
• Terumo Corporation
• Hoffmann-La Roche Ltd.
• Ascensia Diabetes Care Holdings Ag
• Abbott Laboratories

By Region Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• China
• South Korea
• Japan
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Brazil
• Mexico
• Colombia
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of Global Diabetes Care Devices Market Report– 

• Global Diabetes Care Devices Market report covers in-depth historical and forecast analysis 
• Global Diabetes Care Devices Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level. 
• Global Diabetes Care Devices Market report helps to identify opportunities in marketplace.    
• Global Diabetes Care Devices Market report covers extensive analysis of emerging trends and competitive landscape.