Overview and Scope
Diabetes care devices are used to monitor and control blood glucose levels in diabetic patients.
Sizing and Forecast
The diabetes care devices market size has grown strongly in recent years. It will grow from $64.27 billion in 2023 to $69.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increasing diabetes prevalence, economic growth, public health insurance reforms, increased geriatric population, and increased healthcare expenditure.
The diabetes care devices market size is expected to see strong growth in the next few years. It will grow to $93.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increase in r&d investments and research collaborations, increase in disease burden, government initiatives and technological development . Major trends in the forecast period include stick free glucose testing, glucose responsive insulins (gris), artificial pancreas, shift in traditional insulin syringes, wearable and mobile glucose monitoring systems, intelligent glucose meters.
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Segmentation & Regional Insights
The diabetes care devices market covered in this report is segmented –
1) By Type: Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By Type Of Testing: Point Of Care (POC) Testing, Non-Point Of Care (POC) Testing
5) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments Covered: Glucose Dehydrogenase, Glucose Oxidase, Pens, Injectors And Pumps, Syringes
North America was the largest region in the global diabetes care devices market in 2023. Western Europe was the second largest region in the global diabetes care devices market. The regions covered in the diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing healthcare expenditures are anticipated to propel the growth of the diabetes care device market going forward. Healthcare expenditures refer to the total amount spent on healthcare-related services, products, and activities within a specified period, typically on an individual, community, national, or global level. The increasing healthcare expenditures, coupled with greater access to healthcare services and rising diabetes diagnoses, drive heightened investments in research and development, leading to the advancement of diabetes care devices such as improved glucose monitoring systems, insulin delivery devices, and digital health solutions. For instance, in May 2023, the Office for National Statistics, a UK-based statistics authority, reported that healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. UK total healthcare expenditure in 2021 was $367.25 billion (£280.7 billion), and pharmaceutical expenditure was $51.84 billion (£39.6 billion) in 2021. Further, spending on preventive care was $45.93 billion (£35.1 billion) in 2021, more than doubling from the previous year. Therefore, increasing healthcare expenditure will drive the growth of the diabetes care device market going forward.
Key Industry Players
Major companies operating in the diabetes care devices market report are Becton, Dickinson and Company, Novo Nordisk A/S, Roche Holding AG, Nipro Corporation, HTL-STREFA Inc., ARKRAY, Terumo Corporation, Owen Mumford, Ypsomed AG, Vogt Medical, Sanofi India, Biocon Ltd., Mehar healthcare, Johnson & Johnson, GE Healthcare, Covidien Healthcare, Philips Healthcare India, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell medical equipment & supply Co, Olympus Medical Systems, Hitachi Medico, Nihon Koden, Fukuda Denshi, Medtronic, Emperra GmbH E-Health, Novo Nordisk A/S, Insujet, Eli Lilly, Fresenius Medical Care, Siemens, Stryker, Teleflex Medical, LifeScan, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcom Inc., SocialDiabetes, Dottli, Themis Bioscience, Ok biotech, Acon Laboratories, Bayer AG, AgaMatrix.
The diabetes care devices market report table of contents includes:
1. Executive Summary
2. Diabetes Care Devices Market Characteristics
3. Diabetes Care Devices Product/Service Analysis -Product/Service Examples
4. Diabetes Care Devices Market Trends And Strategies
5. Diabetes Care Devices Market – Macro Economic Scenario
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31. Belgium Diabetes Care Devices Market
32. Denmark Diabetes Care Devices Market
33. Finland Diabetes Care Devices Market
34. Ireland Diabetes Care Devices Market
35. Netherlands Diabetes Care Devices Market
36.Appendix
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