Market Size
North America Diabetes Devices Market reached US$ 11,549 million in 2023 and is expected to reach US$ 16,769 million by 2031, growing at a CAGR of 5.6% during the forecast period 2024-2031.
Diabetes is a group of metabolic disorders characterized by a chronically high blood sugar level. Common symptoms include frequent urination, increased thirst, and increased hunger. Diabetes, if untreated, may cause an array of health problems.
Acute consequences include diabetic ketoacidosis, hyperosmolar hyperglycemia, and death. Long-term risks include cardiovascular illness, stroke, chronic kidney disease, foot ulcers, nerve damage, eye damage, and cognitive impairment. Diabetes devices are used to monitor and manage the disease symptoms and are useful for estimating the onset of the adverse effects of the disease.
Market Scope
| Metrics | Details |
| CAGR | 5.6% |
| Market Size Available for Years | 2022-2031 |
| Estimation Forecast Period | 2024-2031 |
| Revenue Units | Value (US$ Mn) |
| Segments Covered | Device Type, Distribution Channel |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics: Drivers & Restraints
Rising technological advancements
Glucose monitoring systems are growing more accurate and consistent due to developments in sensor technology and data analytics. Improved outcomes and diabetes management can arise from increased accuracy, which can also increase patient trust in the devices.
Innovations in technology are improving the accuracy and use of continuous glucose monitors (CGMs). With automatic alerts for hyper or hypoglycemia and real-time glucose monitoring, patients can better control their condition and modify their treatment plans on time. Innovating advanced diabetes devices by the companies could propel the market growth.
For instance, on February 13, 2024, Tandem Diabetes Care, Inc. commercially launched its new Tandem Mobi, the world’s smallest, durable automated insulin delivery system for people living with diabetes.
in April 2023, Insulet Corporation received FDA clearance for its latest innovation, Omnipod GO, an insulin delivery device cleared for use for people with type 2 diabetes age 18 or older who would typically take daily injections of long-acting insulin. Omnipod GO is a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.
High costs of diabetes devices
Many diabetes management devices, such as continuous glucose monitors (CGMs) and insulin pumps, are costly and cannot be afforded by many individuals. For patients, particularly those without insurance or in areas with limited resources for healthcare, high expenses can be challenging. Thus, the high costs of these devices could hamper the market growth.
Market Segment Analysis
The North American diabetes devices market is segmented based on device type, and distribution channel.
The blood glucose monitoring (BGM) devices segment is expected to dominate the market share
Blood glucose monitoring (BGM) devices hold a major portion of the market share and are expected to continue throughout the forecast period. This is due to the increasing adoption of blood glucose monitoring devices by patients due to their effectiveness in finding the glucose levels in the blood.
Additionally, the increasing product launches by the companies are also expected to be a significant factor in driving the segment’s growth. The increasing development of advanced devices could increase the adoption of the devices by patients.
For instance, on June 12, 2024, Abbott ABT received FDA approval for Lingo and Libre Rio, two glucose monitoring systems. Lingo and Libre Rio are based on Abbott’s own Freestyle Libre continuous glucose monitoring (CGM) technology. Thus, the above factors are expected to hold the segment in the dominant position.
Market Segmentation
By Device Type
- Blood Glucose Monitoring (BGM) Devices
- Self-Monitoring Devices
- Blood Glucose Meters
- Testing Strips
- Lancets
- Continuous Glucose Monitoring Devices
- Sensors
- Durables
- Others
- Self-Monitoring Devices
- Management Devices
- Insulin Pumps
- Insulin Pens
- Insulin Syringes
- Jet Injectors
- Others
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Diabetes Clinics/Centers
- Online Pharmacies
- Others
Major Players
The major players in the market include Johnson & Johnson Services, Inc., Abbott Laboratories, Dexcom Inc., Tandem Diabetes Care, Inc., LifeScan IP Holdings, LLC., Medtronic Plc, Insulet Corporation, Roche Diagnostics USA, ACON Laboratories, Inc., and Novo Nordisk U.S. among others.
Why Purchase the Report?
- To visualize the North American diabetes devices market segmentation based on device type, and distribution channel, as well as 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 North American diabetes devices market report would provide approximately 53 tables, 47 figures, and 176 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
