Diabetes Devices Market Size, Share, Industry, Forecast and outlook (2023-2030)

Diabetes Devices Market is segmented By Product Type (Glucose Monitoring Devices, Insulin Delivery Devices, Others), By Distribution Network (Clinic centers, Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Diabetes Devices Market Overview

The Global Diabetes Devices Market reached USD 28.6 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 55.9 billion by 2030. The Global Diabetes Devices Market is expected to exhibit a CAGR of 8.9% during the forecast period 2023-2030.

Throughout the day and night, a CGM system offers real-time glucose measurements. A tiny sensor is implanted beneath the skin to monitor the amount of glucose in the interstitial fluid. The sensor wirelessly provides information regarding glucose trends, patterns, and warnings for high or low glucose levels to a receiver or a smartphone app. 

In addition, with rising improvements in technology, there are several advanced diabetes devices introduced in the market, which are driving the growth of the diabetes devices market. Earlier, the blood glucose concentration was monitored using disposable biosensors, but later on, many alternative methods were developed for continuous glucose monitoring. These include wearable skin devices, a small needle with a sensor to check glucose in interstitial fluid, etc.

Diabetes Devices Market Scope

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Diabetes Devices Market Dynamics

The Increasing Prevalence of Diabetes is Driving the Global Diabetes Device Market Growth

The global prevalence of diabetes is increasing at an alarming rate. An estimated 537 million adults (20-79 years old) will have diabetes in 2021. By 2030, there will be 643 million diabetics worldwide, and by 2045, there will be 783 million. In nations with low and intermediate incomes, 3 out of 4 adults with diabetes reside. 

Adults with diabetes comprise almost one in two people (240 million). Over 6.7 million people died from diabetes. Diabetes accounted for 9% of all adult healthcare costs, or at least USD 966 billion. Type 1 diabetes affects more than 1.2 million children and teenagers (0-19 years).

Increasing Awareness About Diabetes in Public is Driving the Global Diabetes Devices Market Growth

There has been an increase in public awareness of diabetes and how to manage it. Public health initiatives, educational campaigns, programs, and actions by healthcare organizations have improved our understanding of diabetes, its complications, and the value of blood glucose monitoring. As a result of this raised awareness, there is now a higher need for diabetic devices to enable efficient self-management. 

For instance, in February 2023, Mednow Inc. announced the debut of its upgraded virtual diabetes management program, an end-to-end digital diabetes management solution, to provide simple on-demand access to Dexcom G6 real-time continuous glucose monitoring (rtCGM) supplies and individualized diabetes care services.

Side Effects Associated With the Diabetic Devices is Hampering the Global Diabetes Devices Market Growth

Although diabetes devices typically have acceptable safety records, they can cause complications or side effects like any other medical equipment. Some people may feel skin irritability or redness around the infusion site where the pump's catheter is put. This can be brought on by an allergy to the adhesive or a sensitivity to the components of the infusion set. 

If the appropriate hygiene and care are not kept up, there is a danger of infection at the infusion site. Rarely, technical issues with insulin pumps, such as infusion set blockage or failure, can cause erroneous insulin delivery or supply stoppage.

Diabetes Devices Market Segment Analysis

The Global Diabetes Devices Market is segmented based on product, end-user, and region.

The Insulin Delivery Devices Segment is Expected to Hold a Dominant Position in the Market over the Forecast Period

The insulin delivery devices segment accounted for the highest market stake, accounting for approximately 55.2% of the diabetes devices market in 2022. As per the article published in Current Diabetes Reports in 2022, an estimated 350,000 people in the USA use insulin pumps, 90% of whom have T1D and 10% have T2D. Modern insulin pumps that interface with CGM devices to automatically alter insulin in response (automated insulin delivery, AID) dramatically lower HbA1c, increase the glycemic goal range duration, and minimize the frequency of hypoglycemia events. 

Additionally, insulin pumps are linked to greater patient satisfaction compared to conventional MDI therapy. Intelligent insulin pens are also offered as an alternative to insulin pump therapy. Smart insulin pens can potentially lessen differences in technology use and results, but they have not yet received enough research. 

Source: DataM Intelligence Analysis (2023)

Diabetes Devices Market Geographical Penetration

North America Holds a Dominant Position in the Global Diabetes Devices Market

North America is estimated to hold around 37.9% of the total market share throughout the forecast period. Owing to the growing aging population in the region, product launches and collaborations by the market players are expected to boost regional growth over the forecast period.

For instance, 11.3% of Americans, or 37.3 million people, have diabetes. By 2022, 8.5 million people with diabetes will not have received a diagnosis. Every social, economic, and racial background is impacted by diabetes. T1D affects 1.45 million Americans or roughly 3.75% of all instances of diabetes that have been diagnosed. The increasing diabetes prevalence leads to increasing demand for the diabetes device market in the North American region.

Source: DataM Intelligence Analysis (2023)

Diabetes Devices Market Players

The major global players in the market include Medtronic plc, Abbott Laboratories, F.Hoffmann-La-Ltd., Bayer AG, Lifescan, Inc., B Braun Melsungen AG, Novo Nordisk, Dexcom Inc., Insulet Corporation, and Ypsomed Holdings among others.

Impact Analysis on Diabetes Devices Market

Russia Ukraine Conflict Analysis

The Russia-Ukraine war may affect the diabetes devices market due to consumer confidence and purchasing power being impacted during times of geopolitical instability and economic uncertainty. Healthcare systems, including hospitals, clinics, and supply lines for medical equipment, may be affected by the conflict. This disturbance may make it difficult to get to medical institutions for regular checkups, and consultations, or to get the diabetic equipment and supplies one needs. 

Due to disturbances in supply chains, trade, and transportation in conflict-affected areas, it may be difficult to find diabetic equipment and supplies. This may lead to a lack of or a delay in getting access to tools like blood glucose meters, insulin pumps, insulin pens, and other crucial tools. 

Artificial Intelligence Analysis

Artificial intelligence (AI) is increasingly being used in the diabetes devices market to improve various aspects of the customer experience. The possibility of hypoglycemia (low blood sugar) or hyperglycemia (high blood sugar) incidents can be predicted using AI algorithms that analyze real-time glucose data from CGM systems. These predictive models can provide alarms and warnings ahead of time, allowing people with diabetes to take precautions and prevent complications. 

By Product

• Blood Glucose Meter Devices
  • Self-Monitoring Devices
    • Blood Glucose Meters
    • Testing Strips
    • Lancets
  • Continuous Glucose Monitoring Devices
    • Sensors
    • Transmitters
    • Receiver
• Insulin Delivery Devices
  • Pumps
  • Pens
  • Syringes
  • Jet Injectors 

By End-user 

• Hospitals
• Homecare
• Diagnostic Centers

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In March 2023, Astellas Pharma Inc entered into an agreement with Roche Diabetes Care Japan Co., Ltd. for the development and commercialization of Roche Diabetes Care's world-renowned Accu-Chek Guide Me blood glucose monitoring system with advanced accuracy as a combined medical product with BlueStar.

Why Purchase the Report?

• To visualize the Global Diabetes Devices Market segmentation based on the product, end-user, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of diabetes devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Diabetes Devices Market Report Would Provide Approximately 53 Tables, 47 Figures  And 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies