The Asia-Pacific Diabetes Devices Market Size accounted for USD 2.9 Billion in 2022 and is projected to achieve a market size of USD 5.6 Billion by 2032 growing at a CAGR of 7.2% from 2023 to 2032.
Diabetes Devices Market Report Key Highlights
Diabetes devices are medical devices used to manage diabetes, a chronic condition that affects the way the body processes blood sugar. These devices include blood glucose meters, continuous glucose monitoring systems, insulin pens, insulin pumps, and others. The primary goal of these devices is to help people with diabetes monitor their blood sugar levels, administer insulin, and manage their condition effectively.
The market for diabetes devices has grown significantly in recent years due to the increasing prevalence of diabetes worldwide. According to the International Diabetes Federation, an estimated 463 million adults (aged 20-79 years) were living with diabetes in 2019, and this number is projected to increase to 700 million by 2045. The Asia-Pacific region has the highest number of people with diabetes, with China and India being the most affected countries. As a result, the demand for diabetes devices in this region is expected to continue to grow. Several factors are driving the growth of the diabetes devices market, including the increasing adoption of digital health technologies, rising awareness about diabetes management, and the development of innovative products.
Asia-Pacific Diabetes Devices Market Trends
Diabetes Devices Market Report Coverage
|Market||Diabetes Devices Market|
|Diabetes Devices Market Size 2022||USD 2.9 Billion|
|Diabetes Devices Market Forecast 2032||USD 5.6 Billion|
|Diabetes Devices Market CAGR During 2023 - 2032||7.2%|
|Diabetes Devices Market Analysis Period||2020 - 2032|
|Diabetes Devices Market Base Year||2022|
|Diabetes Devices Market Forecast Data||2023 - 2032|
|Segments Covered||By Type, By Distribution Channel, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Roche Diabetes Care, Abbott Laboratories, Medtronic plc, Johnson & Johnson, Becton, Dickinson and Company, Novo Nordisk A/S, Sanofi S.A., Terumo Corporation, Ypsomed AG, and Ascensia Diabetes Care Holdings AG.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
Diabetes Devices Market Dynamics
Diabetes is a metabolic disorder that occurs due to high sugar levels in the blood, which are caused by either defect in the body’s ability to produce a sufficient amount of insulin or the incapability of body cells to respond to insulin. Based on the cause of development, diabetes is classified into three types, including Type 1 diabetes (pancreas stops producing insulin), Type 2 diabetes (body cells do not respond to the insulin), and Type 3 gestational diabetes (which occurs in pregnant women). Among these, Type 2 diabetes is the most common form of diabetes, occurring in approximately 90% of total patients. Type 1 diabetes is usually diagnosed in children and young adults, and has been treated by injection of insulin. Type 2 diabetes commonly affects older adults and youth; however, it can be initially managed with exercise and diet. During the course of time, most patients need oral medication for treatment. The International Diabetes Federation (IDF) estimated that the number of diabetes patients would reach around 640 million by 2040 from 415 million in 2015. In addition, IDF estimated that the global healthcare expenditure on diabetes care would surpass $802 billion by 2040 from $673 billion in 2015, which represents 12% of the overall healthcare spending.
Diabetes Devices Market Segmentation
The Asia-Pacific diabetes devices market segmentation is based on type, distribution channel, and geography.
Diabetes Devices Market By Type
According to an Asia-Pacific diabetes devices industry analysis, the insulin delivery devices segment is a significant and rapidly growing segment in the market. Insulin delivery devices are used to administer insulin to people with diabetes, either through injections or insulin pumps. There are several types of insulin delivery devices, including insulin pens, insulin syringes, insulin pumps, and insulin jet injectors. Insulin pens are the most commonly used type of insulin delivery device, as they are easy to use and offer a more discreet way of administering insulin compared to syringes. Insulin pumps are another popular type of insulin delivery device, which deliver insulin continuously through a catheter placed under the skin. The insulin delivery devices market is expected to grow rapidly due to several factors, including the increasing prevalence of diabetes worldwide, the rising adoption of insulin pumps, and the development of advanced insulin delivery technologies.
Diabetes Devices Market By Distribution Channel
According to the Asia-Pacific diabetes devices market forecast, the online pharmacies segment is expected to grow significantly in the coming years. Online pharmacies are websites or mobile applications that allow consumers to purchase diabetes devices and supplies online, often with home delivery options. The online pharmacies segment is growing rapidly due to several factors, including the increasing adoption of e-commerce and digital technologies, the convenience of online shopping, and the availability of a wide range of diabetes devices and supplies at competitive prices. Online pharmacies offer a convenient way for people with diabetes to purchase diabetes devices and supplies from the comfort of their homes, without having to visit physical pharmacies or medical stores. In addition, online pharmacies offer several advantages over traditional pharmacies, including 24/7 availability, a wider range of products, competitive pricing, and personalized services such as home delivery and refill reminders.
Asia-Pacific Diabetes Devices Market Regional Outlook
Diabetes Devices Market Player
Some of the top Asia-Pacific diabetes devices market companies offered in the professional report includes Roche Diabetes Care, Abbott Laboratories, Medtronic plc, Johnson & Johnson, Becton, Dickinson and Company, Novo Nordisk A/S, Sanofi S.A., Terumo Corporation, Ypsomed AG, and Ascensia Diabetes Care Holdings AG.
The market size of Asia-Pacific diabetes devices was USD 2.9 Billion in 2022.
The CAGR of Asia-Pacific diabetes devices market is 7.2% during the analysis period of 2023 to 2032.
The key players operating in the Asia-Pacific diabetes devices market are Roche Diabetes Care, Abbott Laboratories, Medtronic plc, Johnson & Johnson, Becton, Dickinson and Company, Novo Nordisk A/S, Sanofi S.A., Terumo Corporation, Ypsomed AG, and Ascensia Diabetes Care Holdings AG.
The current trends and dynamics in the diabetes devices industry include the growing demand for high-performance asphalt in road construction and maintenance activities.
The insulin delivery devices type held the maximum share of the diabetes devices market.