According to Dimension Market research, this market is projected to see significant growth in the upcoming period of 2024 to 2033 due to the rising healthcare awareness among the consumer.
The main causes that lead to the increase in the number of people who are affected by diabetes include the adoption of a sedentary lifestyle and quick urbanization in developing countries.
The escalating need for diabetes care gadgets responds to more than one factor like a growing population, the growth tackled by the numbers of individuals with obesity. On the other hand, the increasing adoption of the latest insulin delivery devices by patients affected with diabetes is also augmenting the growth of this segment. Therefore, thanks to all these mentioned reasons this market is going to be seen as one which is in line for some significant expansion in future years.
Key Takeaways
- The market is growing at a CAGR of 6.9 percent over the forecasted period.
- This market size is estimated to have a value of USD 21.4 billion in 2024 and is expected to reach USD 38.9 billion by the end of 2033.
- Blood glucose monitoring systems are projected to dominate the type segment in this market as they hold 51.5% of the market share in 2024.
- The hospitals and specialty centers are projected to command the global diabetes care devices market as it holds 63.1% of the market share in 2024.
- North America is expected to dominate the global diabetes care devices market as they hold 40.5% of the market share in 2024.
Use Cases
- A diabetic individual needs to monitor their blood glucose levels regularly to maintain optimal control of their condition.
- Nowadays people use insulin pens, insulin pumps, or insulin syringes to administer insulin therapy to manage blood glucose levels effectively.
- CGM systems with alarm features Continuous monitoring of blood glucose levels & creating timely alerts for high sugar.
- These devices track and analyze blood glucose data over time to identify patterns and trends by using mobile applications or software platforms.
- In this market telemedicine and remote monitoring tools together with connected blood glucose meters, CGM systems, and telemedicine platforms help to monitor patients' progress as these technologies reduce gaps in healthcare access, they increase affordability.
Market Dynamic
The global diabetes management devices market is driven by various aspects like the increasing global cases of diabetes. The recent innovations contributing to improving devices, the transition to minimally invasive devices such as sensors and pumps. This market is growing rapidly due to the rising awareness about the diabetes care products and their benefits to patients.
Many awareness campaigns are run by various governments and international organizations, and lastly, this market is supported by heavy investment by major pharmaceutical companies and international organizations. The combined effect of these factors collectively guarantees the rising need for diabetes care devices which upon implementation ensure better management of the illness and lead to patient outcomes improved, mostly in poor and developing countries where access to affordable care is significant.
Research Scope and Analysis
By Type
Blood glucose monitoring systems are projected to dominate the type segment in the global diabetes care devices market as they hold 51.5% of the market share in 2024 and are further anticipated to show subsequent growth as well. Blood glucose monitoring systems are popular in the diabetes management market due to their unmatchable accuracy and convenience by which they provide round-the-clock monitoring and seamless connection with insulin delivery devices.
Technology development has expanded their functionality, with features, such as Bluetooth connectivity and smartphone pairing, being the case. These systems help people cope with diabetes and use all their chances for improving their health with the help of real-time feedback, promoting the routine of carrying out management measures and leading to better control of their health state.
By Patient Care Settings
The hospitals and specialty centers are projected to command the global diabetes care devices market as it hold 63.1% of the market share in 2024 due to its extensive range of services, cutting-edge equipment, and highly specialized medical expertise. This wide scope of medical services and modern medical facilities and equipment put together by a team of competent medical experts is what they provide to their patients.
Hospitals are for the high-level care they offer and post-hospital infrastructure. Hospitals provide the next level of care after which they serve as referral centers. Next to that, their connection with research and learning centers is synonymous with creativity and lifelong learning that draws the best of the human resource and improvement initiatives in health care service delivery.
The Diabetes Care Devices Market Report is segmented on the basis of the following:
By Type
- Blood glucose monitoring systems
- Self-monitoring blood glucose monitoring systems
- Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing devices
Insulin pumps
Insulin pens
Insulin syringes and needles
- Diabetes management mobile applications
By Patient Care Settings
- Hospitals & Specialty Clinics
- Self & Home Care
Regional Analysis
North America is expected to dominate the global diabetes care devices market as they
hold 40.5% of the market share in 2024 and are further anticipated to show significant growth in the upcoming
period of 2024 to 2033.
This dominance is induced by many determinants of growth, hence, this market is among the most significant in the global diabetes care devices market. The region comprises many leading universities and research institutions that are pioneering in the sphere of the diabetes care devices market by producing novel and innovative technologies that have changed the trend of the global diabetes care devices market. However, there are further facilities other than research facilities in this district which are medical manufacturing factories that produce different types of healthcare equipment and products.
The Asia-Pacific region is next in line, with this region able to show the highest growth potential for the sector, pharmaceutical companies, especially in developing countries like China and India, where the establishment of an effective information exchange system will be of utmost importance, along with participation in research, development, and innovation. Public-private sector collaboration strategies are deployed for the advancement of healthcare infrastructure together with the growing diabetes patient population, which in turn drives the market growth in this region.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The diabetes care device marketplace reveals a dynamic and multifaceted competitive landscape motivated by various factors inclusive of studies and improvement, regulatory dynamics, market consolidation, and worldwide health challenges. Key pharmaceutical gamers inside the worldwide diabetes care devices market, together with Medtronic plc, Abbott Laboratories, F.Hoffmann-La-Ltd., Bayer AG, Lifescan Inc, B Braun Melsungen AG, Lifescan, Inc., and Dexcom Inc., dominate the market, often with their diversified portfolios. Generic competition intensifies after patent expirations, leading to increased competition.
Emerging biotech companies make contributions to innovation, focusing on novel techniques to combat antibiotic resistance. Ongoing research and improvement tasks are important, with corporations investing in progressive solutions gaining an aggressive edge. The regulatory environment, worldwide collaborations, market consolidation through mergers and acquisitions, tasks addressing antibiotic resistance, and strategic marketplace get admission to and pricing techniques are vital components shaping the competitive dynamics.
Some of the prominent players in the Global Diabetes Care Devices Market are:
- Abbott Laboratories
- ACON Laboratories, Inc.
- Ascensia Diabetes Care Holdings AG
- Becton
- Dickinson and Company
- Dexcom, Inc.
- F. Hoffmann-La Roche Ltd
- Johnson & Johnson
- Medtronic plc
- Novo Nordisk A/S
- Terumo Corporation
- Other Key Players
Recent Development
- In March 2023, Abbott's FreeStyle Libre 2 and FreeStyle Libre 3 sensors cleared by FDA for use with automated insulin delivery systems, enhancing diabetes management.
- In January 2023, LifeScan's study, published in Journal of Diabetes Science and Technology, reveals improved glycemic control in over 144,000 individuals with diabetes, utilizing Bluetooth-connected meters and mobile apps.
- In February 2023, Ascensia Diabetes Care partnered with SNAQ to empower diabetic patients in making mealtime decisions, enhancing their diabetes management.
- In June 2022, Ascensia Diabetes Care got the CE mark approval for their Eversense E3 Continuous Glucose Monitoring system for use in European Contries which will help it in entering the European market.
- In May 2022, Labcorp introduces Labcorp OnDemand, an at-home device measuring hemoglobin A1C from a small blood sample where it utilizes dried blood technology for average blood sugar levels monitoring.
Report Details
| Report Characteristics |
| Market Size (2024) |
USD 32.8 Bn |
| Forecast Value (2033) |
USD 99.1 Bn |
| CAGR (2023-2032) |
13.1% |
| Historical Data |
2018 – 2023 |
| Forecast Data |
2024 – 2033 |
| Base Year |
2023 |
| Estimate Year |
2024 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Component (Solution, and Services), By Solution (IDS/IPS, Unified Threat Defense, Data Loss Prevention, Network Access Control, Firewall, Antivirus, and Others), By Deployment (On-premise, and Cloud), By Vertical (BFSI, IT and Telecommunication, Retail and E-commerce, Healthcare, Manufacturing, Government, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Palo Alto Networks, Fortinet, Cisco, CrowdStrike, IBM Corporation, Trend Micro, Rapid7, Check Point, Microsoft Corporation, Sophos, Broadcom, VMware, Trellix, Proofpoint, Akamai Technologies, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |