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Diabetes Care Devices Market Trends

  • Report ID: GMI3250
  • Published Date: Nov 2024
  • Report Format: PDF

Diabetes Care Devices Market Trends

Rising technological advancements in diabetes care devices are a key driver for the market. These advancements have revolutionized the management and treatment of diabetes, offering patients and healthcare providers innovative tools to monitor glucose levels, administer insulin, and improve overall diabetes care.
 

  • The development of non-invasive diabetes care devices is increasing the popularity of the market. Various companies are focusing on developing devices that are painless, cost-effective, highly accurate and offer reliable results to the diabetic patients.
     
  • For instance, the G7, manufactured by Dexcom, represents their most precise sensor to date. This device is suitable for individuals with type 1, type 2, or gestational diabetes. Notably, the sensor is 60% smaller than its predecessor, the G6. It is typically worn on the upper arm, although children aged 2-6 should wear it on the upper buttocks. The G7 provides real-time glucose data directly to smartphone or smartwatch, eliminating the need for fingerstick tests.
     
  • Moreover, the integration of digital software with diabetes care devices aids in better monitoring and control of blood sugar levels. For instance, in June 2022, LifeScan stated that the data obtained from the Journal of Diabetes Technology and Therapeutics (DTT) offers real-time evidence of a better glucose concentration level in diabetic patients using glucometers with mobile diabetes management application that is connected to bluetooth. Thus, aforementioned factors are propelling the market growth.
Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

The global diabetes care devices industry was valued at approximately USD 45.1 billion in 2023 and is estimated to grow at an 11.4% CAGR from 2024 to 2032, driven by advancements in diabetes management technologies.

The blood glucose monitoring devices segment dominated the market in 2023, accounting for a 58.4% market share and a CAGR of 11.6%, as they provide critical information for managing diet, exercise, and insulin dosing.

The U.S. market recorded USD 15.4 billion in 2023, driven by high healthcare expenditures and investments in advanced diabetes care technologies.

Key players in the sector include Abbott Laboratories, ARKRAY, Ascensia Diabetes Care Holding, B. Braun Melsungen, Becton, Dickinson and Company, Bionime Corporation, DarioHealth Corp., Dexcom, and Dr. Reddys Laboratories.

Diabetes Care Devices Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 21
  • Tables & Figures: 324
  • Countries covered: 35
  • Pages: 145
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