Diabetes Care Devices Market Size is Expected to Reach at USD 7,932 Million by 2030, Registering a CAGR of 15.2%, Owing to Increasing Prevalence of Diabetes

Author: Acumen Research and Consulting

The Global Diabetes Care Devices Market Size was USD 2,245 Million in 2021 and is expected to reach USD 7,932 Million by 2030, increasing at a CAGR of 15.2% from 2022 to 2030, as per the Acumen Research and Consulting

The rising prevalence of diabetes around the world is anticipated to fuel significant growth of the diabetes care devices market size in the coming years. Diabetes affects around 422 million people globally, with the majority living in low- and middle-income countries, according to the WHO. Diabetes is a long-term condition that alters how the body processes blood sugar (glucose). Diabetes is a widespread ailment, and the number of diabetics has been rising in recent years. Diabetes patients frequently use gadgets such as glucose meters, insulin pumps, and continuous glucose monitoring systems to assist them to manage the disease. Diabetes patients can use these devices to check their blood sugar levels, deliver insulin, and make lifestyle adjustments to better control their condition.

The diabetes care devices market growth is driven by a variety of factors, including the increasing rate of diabetes patients, the aging population, as well as the rising adoption of advanced diabetes care devices. The increasing usage of continuous glucose monitoring devices is one of the market's significant trends. Due to their capacity to deliver real-time blood sugar readings and assist persons with diabetes in better managing their disease, these gadgets are becoming more popular. Furthermore, the market for insulin pumps is likely to expand in the next years, as these devices can assist people with diabetes in better controlling their blood sugar levels and minimizing the risk of diabetes complications. However, the market for diabetes care devices is expected to grow in the coming years due to rising diabetes prevalence and increased usage of advanced diabetic care devices.

Diabetes Care Devices Market Statistics

  • Global diabetes care devices market revenue was worth USD 2,245 Million in 2021, with a 15.2% CAGR from 2022 to 2030
  • North America diabetes care devices market share occupied around 39.6% in 2021
  • According to National Diabetes Statistics Report, 37.3 million Americans, or around one in every ten, have diabetes
  • Asia-Pacific diabetes care devices market growth is estimated to attain 17% CAGR from 2022 to 2030
  • Improving healthcare infrastructure, propel the diabetes care devices market value

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Diabetes Care Devices Market Segmentation                  

The global diabetes care devices market has been segmented by Acumen Research and Consulting based on type, and end-user.

  • Based on the type, the market is categorized into blood glucose monitoring systems (continuous glucose monitoring systems (transmitters, sensors, and receiver) and self-monitoring blood glucose monitoring systems (lancing/lancets devices and test strips/test papers)), insulin delivery devices (insulin pens, insulin pumps, and insulin syringes and needles), and diabetes management mobile applications. According to the diabetes care devices market forecast, the insulin delivery devices category is predicted to develop significantly in the coming years.
  • Based on the end-user, the market is classified into hospitals & specialty clinics, and self & home care. The self-care and home care segment is dominating the diabetes care devices market due to the rising adoption of these devices by people with diabetes who want to manage their condition from home. Another factor driving the self-care and home care diabetes care devices segment is that can help reduce the burden on the healthcare system. These devices, by allowing patients with diabetes to manage their disease at home, can help minimize the number of office visits and hospitalizations required, saving healthcare providers time and resources.

Diabetes Care Devices Market Regional Overview         

Geographically, the worldwide diabetes care devices market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to a diabetes care devices industry analysis, North America is currently the dominating region in the market and it is expected to continue to dominate the market in the coming years. One of the major factors driving this growth is the high prevalence of diabetes in the region. The United States has one of the highest rates of diabetes in the world, and the number of people living with the disease is expected to continue to increase in the coming years. Furthermore, another aspect driving this growth is North America's robust healthcare infrastructure. The region has a well-developed healthcare system that encourages the use of diabetic care devices, which is fueling market expansion.

Besides that, the Asia-Pacific region is the fastest-growing market for diabetes care devices, and it is expected to continue to grow at a faster rate than other regions in the coming years. One factor is the increasing prevalence of diabetes in the region. The International Diabetes Federation estimates that in 2020, about 463 million people in the Asia-Pacific region had diabetes, and this number is expected to increase in the coming years. This increase in the number of people with diabetes is driving demand for diabetes care devices, such as glucose monitors and insulin pumps.

Diabetes Care Devices Market Players     

Some of the prominent diabetes care devices market companies are Merck & Co., Bayer AG, Dexcom Inc., Abbott Laboratories, Dickinson and Company, Lifescan, Inc., Acon Laboratories, B Braun Melsungen AG, GlaxoSmithKline Plc, and Medtronic.

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