Diabetes Care Devices Market Trends Report & Growth Forecast 2028

Diabetes Care Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Glucose Monitoring Devices and Insulin Delivery Devices) and End User (Homecare and Hospitals & Clinics)

  • Report Code : TIPRE00003753
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 190
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[Research Report] The diabetes care devices market is expected to grow from US$ 28,942.1 million in 2022 to US$ 42,119.3 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2022 to 2028.

Market Insights and Analyst View:

The diabetes care devices are the medical devices are used to monitor the glucose levels in the blood of the diabetes patients. The monitoring devices are known as continuous glucose monitoring devices or glucometers. The other diabetes care devices are used to deliver insulin in the body, these devices are used by the diabetes patients who are unable to produce insulin by their own. The insulin delivery devices include insulin pumps, insulin pens, insulin syringes and others. Increase in technological advancements, rise in the incidences of obesity, increasing adoption of insulin delivery devices and rising prevalence of diabetes are driving the growth of the diabetes care devices market. Key manufacturers are focusing on technological innovations and development of advanced products to gain substantial share of the market. For instance, in April 2023,  Medtronic plc received U.S. Food and Drug Administration (FDA) approval for its MiniMed 780G system. This system features the lowest glucose target setting (as low as 100 mg/dL) in any automated insulin pump on the market and one that more closely reflects the average glucose of person not living with diabetes. 

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Diabetes Care Devices Market: Strategic Insights

Diabetes Care Devices Market

  • CAGR (2022 - 2028)
    4.8%
  • Market Size 2022
    US$ 28.94 Billion
  • Market Size 2028
    US$ 42.12 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • BD
  • Novo Nordisk A/S
  • B. Braun Melsungen AG
  • Medtronic
  • Tandem Diabetes Care Inc.
  • Insulet Corporation
  • Eli Lilly and Company
  • DEXCOM, INC.
  • Terumo Corporation

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Glucose Monitoring Devices and Insulin Delivery Devices
End User
  • Homecare and Hospitals & Clinics
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Growth Drivers and Opportunities:

Diabetes is a deadly chronic disease with no specialized cure. It is primarily caused by the body’s inability to produce or effectively use the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two forms of diabetes—diabetes type-I or diabetes insipidus and diabetes type-2 or diabetes mellitus. The incidences of diabetes are steadily increasing globally. Type 2 diabetes is the most prevalent type of diabetes and has increased with cultural and societal changes. In high-income countries, ~91% of adults have type 2 diabetes. In 2021, as per the International Diabetes Federation (IDF), diabetes will affect ~537 million persons aged 20-79. Similarly, the total number of diabetics is expected to surge to 643 million by 2030 and 783 million by 2045.

Prevalence of Diabetes Worldwide among People aged 20-79 Years, 2021 vs 2030 vs 2045 (In Millions)

Region

2021

2030

2045

North America & Caribbean

51

57

63

South & Central America

32

40

49

Africa

24

33

55

Europe

61

67

69

Middle East & North Africa

73

95

136

South-East Asia

90

113

152

Western Pacific

206

238

260

 

Source: International Diabetes Federation (2022)

Diabetes can lead to several complications in various body parts and raise the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are a few major complications associated with diabetes. Hence, patients suffering from this disease require frequent monitoring and external administration of insulin. The growing prevalence of diabetes is fuelling the growth of the diabetes care devices market worldwide during the forecast period.

Report Segmentation and Scope:

The “Global Diabetes Care Devices Market” is segmented based on product, end user, and geography. Based on product, the diabetes care devices market is segmented into glucose monitoring devices and insulin delivery devices. Based on end user, the diabetes care devices market is segmented into homecare and hospitals & clinics. The diabetes care devices market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

The global diabetes care devices market, based on product is segmented into glucose monitoring devices and insulin delivery devices. In 2022, the glucose monitoring devices segment hold the largest share of the market, by product. Moreover, the glucose monitoring devices segment of diabetes care devices market is also expected to witness growth in its demand at a fastest CAGR of 5.0% during 2022 to 2028. The glucose monitoring devices market consists of components such as glucometers, lancets, testing strips and other glucose monitoring devices. In 2022 testing strips segment hold the largest market share among the glucose monitoring devices segments. The glucose monitoring devices or glucose meters are medical devices are used to determine the approximate levels or the concentration of glucose in the blood of the patients living with diabetes. The concentration of the glucose level can be measured by various means such as through testing strips, lancets, and others.

The global diabetes care devices market, end user was segmented into home care and hospitals & clinics. In 2022, the homecare segment holds the largest share of the market, by end user. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the rise in the prevalence of the diabetes and it makes patients independent to manage and monitor their diabetes. The hospital is a multifaceted organization and an institute that provides health to people through complication however, the specialized treatments are offered with scientific equipment. The team of trained staff educated in the problems of modern medical science assists in providing better treatments. They are all coordinated together for the common goal of restoring and maintain good health. Hospitals serves a significant role by providing extensive range of medical services to the patient population suffering from wide variety of diseases.

Regional Analysis:

Based on geography, the diabetes care devices market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2020, US held the largest share of the North America diabetes care devices market. The growth of the diabetes care devices market is estimated to have a larger share in the United States. In US diabetes care is among the most common and expensive chronic diseases. The highest rate of diabetes is commonly seen in the elder populations. However, the rise in the prevalence of the diabetes continues across the US and other than the elder population it is seen among the overweight and obese population. In 2021, according to the International Diabetes Federation (IDF), diabetes would affect approximately 32.2 million persons aged 20 to 79 across the US. Similarly, the total number of diabetics is expected to surge to 34.7 million by 2030 and 36.2 million by 2045. In the country the huge investments are being done however the country lags the other developed countries in terms of life expectancy, infant mortality and other related diseases. Nevertheless, the country has is performing well for the diabetes care and it ranks 4th among the other 11 leading developed countries. Although the rising prevalence of the diabetes is enforcing to enhance the care systems towards the diabetes.

The Asia Pacific diabetes care devices market is analyzed on the basis of the five major countries such as China, Japan, India, Australia, South Korea, and rest of Asia Pacific. However, Asia Pacific is estimated to register the highest CAGR during the forecast period. The diabetes care devices market in the region is largely held by countries such as China, Japan, and India. The growth of the market is majorly contributed by China, and the growth is attributed by the maximum production of diabetes care products and the availability of the product through the widest e-commerce chain. The prevalence of diabetes is significantly higher in China, the incidences for type 2 diabetes has rapidly increased in the country in the last few decades. The type 2 diabetes has become a leading problem in the country as it is more commonly found in the lower age group people. The leading causes that are contributing to the growth of the type 2 diabetes are genetic and environmental factors.

The rise in the prevalence of the diabetes is the important factors that is likely to drive the growth of the market. The world's most populous country has the highest number of diabetics compared to any other country globally – about 116 million in 2019. By 2045, this number is anticipated to reach 147 million. Additionally, as approximately 95% of patients with diabetes in China have type 2 diabetes, the rapid increase in the prevalence of diabetes in China may be attributed to the increasing rates of overweight and obesity and the reduction in physical activity, which is driven by economic development, lifestyle changes, and diet.

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the global diabetes care devices market are listed below:

  1. In April 2023, Medtronic plc received U.S. Food and Drug Administration (FDA) approval of its MiniMed 780G system with the Guardian 4 sensor requiring no fingersticks while in SmartGuard technology.
  2. In April 2022, BD (Becton, Dickinson and Company) a leading global medical technology company, announced that it has completed its spinoff of Embecta Corp. (embecta), which holds BD's former Diabetes Care business and is now one of the largest pure-play diabetes management companies in the world.
  3. In March 2022, Medtronic plc, a global leader in healthcare technology, announced reimbursement for continuous glucose monitoring (CGM), a key diabetes technology has been expanded or initiated in several countries throughout North and South America. CGM systems provide critical information on glucose levels to help simplify the management of diabetes. Automated insulin pump system reimbursement has progressed in Europe as well.
  4. In January 2022, Drug firm Novo Nordisk India launched a first of its kind diabetes treatment medication in the country. The company introduced the world's first and only oral semaglutide, a game-changer in diabetes management
  5. In March 2022, Terumo Corporation, a global leader in medical technology, and Glooko, a global leader in data management, remote patient monitoring and mobile apps for people with chronic conditions, have announced a technology integration to deliver new diabetes data sharing solutions together globally. This new integration will enable people with diabetes to transfer recorded data from MEDISAFE WITHTM insulin patch pump into the Glooko platform, thus helping them to visualize insulin dosage, food, and activities in graphs more easily and to realize personalized remote patient monitoring and patient care more effectively.

Diabetes Care Devices Market Report Scope

Report Attribute Details
Market size in 2022 US$ 28.94 Billion
Market Size by 2028 US$ 42.12 Billion
Global CAGR (2022 - 2028) 4.8%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Type
  • Glucose Monitoring Devices and Insulin Delivery Devices
By End User
  • Homecare and Hospitals & Clinics
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BD
  • Novo Nordisk A/S
  • B. Braun Melsungen AG
  • Medtronic
  • Tandem Diabetes Care Inc.
  • Insulet Corporation
  • Eli Lilly and Company
  • DEXCOM, INC.
  • Terumo Corporation
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Covid-19 Impact: 

    The COVID-19 pandemic affected economies and industries in various countries across the globe. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the healthcare industry. As a result, health care systems are overburdened, and the delivery of medical care to all patients has become a challenge in the region. In addition, medical device industry is also facing negative impact of this pandemic. As the COVID-19 pandemic continues to unfold, medical device companies are finding difficulties in managing their operations. Many companies offering diabetes care devices have their business operations in the United States and business are adversely being affected by the effects of a widespread outbreak of COVID-19. This has disrupted and restricted company’s ability to distribute products, as well as temporary closures of company’s facilities. However, gradually hospitals have started resuming elective procedures as the COVID-19 recovery rate is increasing the demand for medical equipment like diabetes care is expected to increase.

    Competitive Landscape and Key Companies:

    Some of the prominent players operating in the global diabetes care devices market include BD; Novo Nordisk A/S; Medtronic; B. Braun Melsungen AG; Tandem Diabetes Care Inc.; Insulet Corporation; Eli Lilly and Company; Dexcom, Inc.; Terumo Corporation; F. Hoffmann-LA Roche LTD among others. These diabetes device companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which provides them to serve a large set of customers and subsequently increases their market share. The report offers trend analysis of the diabetes care device market emphasizing on various parameters such as technological advancements, market dynamics, and competitive landscape analysis of leading market players across the globe.

    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Type and End User

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is the regional market scenario of the diabetes care devices market?

    The global diabetes care devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The largest market for diabetes care devices is held by the North American region. The United States held the largest market for diabetes care devices. The Asia-Pacific region is expected to be the fastest-growing region during the forecast period.

    Which end user will hold the largest share in the diabetes care devices market?

    The homecare segment are expected to be the leading end user segment in the diabetes care devices market in 2021.

    Which type will lead the diabetes care devices market?

    The glucose monitoring devices segment is expected to be the leading type segment in the diabetes care devices market in 2021.

    Who are the major players in the diabetes care devices market?

    The diabetes care devices market majorly consists of the players such as BD; Novo Nordisk A/S; B. Braun Melsungen AG; Medtronic; Tandem Diabetes Care Inc.; Insulet Corporation; Eli Lilly and Company; DEXCOM, INC.; Terumo Corporation; F. HOFFMANN-LA ROCHE LTD.; among others.

    What are diabetes care devices?

    The diabetes care devices are the medical devices used to monitor the glucose levels in the blood of diabetic patients. The monitoring devices are known as continuous glucose monitoring devices or glucometers. Insulin delivery devices are used to deliver insulin in the body, these devices are used by the diabetes patients who are unable to produce insulin by their own. These devices include pens, pumps, syringes and others.

    The List of Companies - Diabetes Care Devices Market

    1. BD
    2. Novo Nordisk A/S
    3. B. Braun Melsungen AG
    4. Medtronic
    5. Tandem Diabetes Care Inc.
    6. Insulet Corporation
    7. Eli Lilly and Company
    8. DEXCOM, INC.
    9. Terumo Corporation
    10. F. HOFFMANN-LA ROCHE LTD.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

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    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

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    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

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    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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