Diabetes Care Devices Market – By Product, By End Use – Global Forecast, 2024 to 2032

Diabetes Care Devices Market Size

The global diabetes care devices market size was valued at around USD 45.1 billion in 2023 and is estimated to grow at 11.4% CAGR from 2024 to 2032. Diabetes care devices comprise medical tools that aid in the management of diabetes, including blood glucose meters, continuous glucose monitors, insulin pumps, smart insulin pens, syringes, and lancets. Each device is crucial for tracking blood sugar levels and managing insulin therapy.
 

The foremost issue leading to the expansion of the market is the increasing number of diabetes cases globally. For example, the data obtained from WHO states that an estimated 422 million are expected to be diabetic in 2024, most of whom are in low and middle income nations. Diabetes also causes 1.5 million deaths each year. With these figures, it can easily be assumed that there is going to be a rise in demand for their respective management solutions which include glucose monitoring and insulin delivery devices. Thus, there will be increased efforts to improve diabetes care devices so that disease management is enhanced along with the patient outcomes.
 

In addition, expanding diabetes care devices markets are attributed to the increasing technology in diabetes devices as well as support from both public and private sectors in terms of funding.

Diabetes Care Devices Market Trends

Diabetes care devices have improved the quality of care for patients significantly and continue to be sophisticated under a growing marketing strategy revolving around continuous improvement and competitiveness in the industry. These improvements include advancements that facilitate patients with tools to improve the ways they monitor glucose levels and administer insulin, which are some factors affecting the overall diabetes care.
 

Development of non - invasive diabetes care devices is a booming area among market players in this segment. There are numerous companies that are developing and producing painless, affordable, and accurate devices to serve diabetic patients.
 

An example is the G7 made by Dexcom. The device is the latest version of their type 1 and type 2 diabetes sensor. It is 60% smaller than the G6 and also more suitable for pregnant diabetic women. The G7 is designed to be worn on the upper arm but can also be strapped onto the upper buttocks by children from ages two to six. The device monitors glucose levels and stocks the data directly to smartphones or smartwatches. This extra feature eliminates unnecessary finger poke tests.
 

In addition, the combination of diabetes care devices with digital software assists in the accurate logging and regulating of glucose levels. For instance, LifeScan reported in June 2022 that the findings of the Journal of Diabetes Technology and Therapeutics (DTT) provide contemporaneous proof of an improvement in glucose concentration for diabetes patients with use of glucometers alongside mobile diabetes management software integrated with Bluetooth devices. Therefore, the factors mentioned above are conducting the market expansion.
 

Diabetes Care Devices Market Analysis

Based on product, the market is segmented into blood glucose monitoring devices, insulin delivery devices, syringes, and other insulin delivery devices. Further, blood glucose monitoring devices is segmented for self-monitoring blood glucose meters, continuous glucose monitors, testing strips, and lancets. The blood glucose monitoring devices segment dominated the market in 2023, accounting for a market share of 58.4% and a CAGR of 11.6%.
 

• A blood glucose monitoring device is important equipment that people with diabetes use to maintain the blood sugar level. It is vital because it helps patients adjust their diets, exercise, and insulin shots accordingly.
   
• These patients' blood sugar levels are constantly monitored by the device to prevent hypoglycemia or hyperglycemia which can be caused by direct fluctuations to diabetes. Hence, it is designed to allow constant data input so that the users can monitor glucose levels with ease throughout the day.
   
• The occurrence of diabetes all over the world keeps escalating, which has consequently increased the need for these monitoring devices. For instance, Scotland, such as other countries, has seen a growing number of diabetes patients. This is illustrated in the Scottish Diabetes Survey that has recorded an increase in type 1 and 2 diabetes patients within each age group. Thus, escalating the market growth.
   

Based on end use, the diabetes care devices market is segmented into hospital, ambulatory surgical centres, diagnostic centres, homecare, and other end users. The hospital dominated the market with a substantial 24% market share in 2023 and is estimated for sizable growth ahead.
 

• Diabetic patients can expect these new hospitals to provide a one-stop-shop for diabetes treatment, from diagnosis to medication and management. Such services need vast ranges of machinery and equipment like glucose monitors, insulin pumps, CGMs, and insulin pens. These devices facilitate accurate measures and are, hence, pivotal to the diabetes healthcare protocols in place.
   
• Moreover, the surge in the number of hospitals is a growth opportunity for the market. For example, the US had 6093 hospitals back in 2023, which means there is encouraging growth for the adoption of diabetes care services with the increasing number of hospitals.
   
• In treating children and young adults, it is common for hospitals to have dedicated pediatric endocrinologists or even a separate diabetes unit that can effectively treat diabetes. Hence, this high prevalence of diabetes in younger people enables them to visit hospitals where such healthcare personnel are available, making it easier for them to get treated. This is anticipated to stimulate further growth of the segment.
   

The U.S. dominated the North American market with the largest revenue of USD 15.4 billion in 2023.
 

• The U.S. ranks among the top investor in health care. This is helping to continue the investment in sophisticated diabetes treatment devices, favouring the expansion of the market.
   
• For example, as per the report published in Health Affairs, the US health care investment was approximately equal to 4.7 trillion dollars in the year 2023. This spending represents 18 percent of the country's economy. This is nearly twice the average for other rich countries on a per capita basis, thus supporting the use of diabetes management devices.
   
• In addition, the FDA has established a new diabetes care device approval process that is less complicated and extensive than the previous ones, making it easier to get new devices on the market, increasing pace of innovation and market entry.
   

The diabetes care devices market in the UK is expected to experience significant and promising growth from 2024 to 2032.
 

• The UK is known for the world-class research it is conducting with respect to diabetes management and control because of the many top universities and research institutions. This academic-industry partnership increases the effectiveness and human factors associated with diabetes care devices.
   
• Public education in diabetes and its management has seen an increase, which translates to higher demand for care devices. Their understanding of these technologies improves with these education sessions directed towards patients and other healthcare providers.
   

Japan diabetes care devices market is anticipated to witness lucrative growth between 2024 and 2032.
 

• With an increasing aging population, Japan ranks among the top countries in the world that have the biggest percentage of elderly citizens, this means there will be an increase in chronic diseases like diabetes. This trend among the population requires these care devices that will monitor and manage the ailments effectively.
   
• Japan is reputed for its invention of sophisticated medical devices. The nation pours a lot of funds into R&D which results in modern diabetes care devices like insulin pumps and non-invasive glucose meters.
   

The diabetes care devices market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
 

• To enhance the health of the population, the Saudi government is investing into infrastructure for the development in healthcare as a part of the Vision 2030 plan. This can be achieved through expanding access to diabetes care devices and putting an emphasis on preventive measures.
   
• The investment made in research and development, especially in biotechnological segments and medical devices, facilitates the development of new products for more effective diabetes management that is in line with the population's expectations.
   

Diabetes Care Devices Market Share

The competition within the market is between a number of large multinational companies on one hand and small to medium-sized companies on the other, each trying to gain a piece of the market. In the case of an emerging market, an important focus is on the marketing tactic where innovative technologies and devices, glucose monitoring and smart insulin delivery systems for advanced diabetes management, are regularly released. Market dynamics are greatly influenced by leading companies, capitalize on the industry by investing heavily into scientific research and more development. Furthermore, to adapt and integrate to the changing paradigms of medical care and legislation, it is critical to establish and increase market share through mergers, acquisitions, and alliances. The recent focus on individualized diabetes management, achieving better results for patients, and improving the experience of using the systems drives the competitiveness, hence affecting the investment in the design of the devices as well as trust of the healthcare providers in the diabetes care device market.
 

Diabetes Care Devices Market Companies

Some of the eminent market participants operating in the diabetes care devices industry include:

• Abbott Laboratories
• ARKRAY
• Ascensia Diabetes Care Holding
• B. Braun Melsungen
• Becton, Dickinson and Company
• Bionime Corporation
• DarioHealth Corp.
• Dexcom
• Dr. Reddy’s Laboratories
• Eli Lilly and Company
• F. Hoffmann-La Roche
• Insulet Corporation
• Medtronic
• Nova Biomedical
• Novo Nordisk
• Pendiq
• Platinum Equity Advisors
• Sanofi
• Sinocare
• Tandem Diabetes Care
• Ypsomed Holding
   

• Abbott Laboratories, the affordable, simple, and accessible FreeStyle Libre systems developed by Abbott have changed the dynamics of glucose monitoring technology by making it reliable and easy to use for patients all around the world.
   
• Medtronic, a worldwide frontrunner in the comprehensive care of diabetes, Medtronic has pioneered such inventions as the MiniMed insulin pumps and CGM systems, which improve glycemic control and patient utility.
   
• Dexcom, apecializing in advanced CGM systems, the technology developed by Dexcom is distinguished by excessive accuracy in glucose level measurement, combined with real-time monitoring and integration with smart devices.
   

Diabetes Care Devices Industry News:

• In March 2024, Dexcom introduced its newest CGM system, Dexcom ONE+, in Ireland. Dexcom ONE+ utilizes Dexcom's top-tier and highly accurate sensor design. This product launch will bolster the company's product portfolio in the Irish market and is expected to boost the company's revenue.
   
• In June 2022, Abbott announced the launch of a bio wearable that help in continuous blood glucose and ketone monitoring in a single sensor. This move helped the company to enhance its product offerings.
   

The diabetes care devices market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, 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
  • Other insulin delivery devices

Market, By End Use

• Hospital
• Ambulatory surgical centres         
• Diagnostic centres
• Homecare
• Other end users

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Sweden
  • Belgium
  • Denmark
  • Finland
  • Norway
  • Lithuania
  • Latvia
  • Estonia
• Asia Pacific 
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Egypt
  • Israel
  • Kuwait
  • Qatar