- Blood glucose monitoring devices
- Self-monitoring Blood Glucose Meters
- Continuous Glucose Meters
- Consumables
- Others
- Insulin delivery devices
- Insulin Syringes
- Insulin Pens
- Insulin Pumps
- Insulin Jet Injectors
Diabetes Care Devices Market Size was valued at USD 22 billion in 2022 and is anticipated to grow at USD 31.8 Billion till 2029 recording a CAGR of 5.7% during the forecast period 2023-2029. Diabetes is the most widespread metabolic disorder in which patient body is unable to use the glucose due to the lack of Insulin. The major cause of diabetes is insulin deficiency secreted by beta cells of the islet of Langerhans of the pancreas. The other factors include genetically inheritance, changing lifestyle, and unhealthy diets can also cause diabetes. Diabetes further has severe effects on the body like internal damaging of organs and hence require regular monitoring and controlled level of glucose levels in the body. Diabetes care devices are user-friendly and can be operated by patients themselves; they monitor the blood glucose level and help patients to control diabetes. There are two different type of diabetes, caused due to decreasing ability of the pancreas to produce the insulin and another is due to lack of response to the insulin. Diabetes is a chronic disease and the people suffering from diabetes needs to monitor blood glucose throughout their life. Globally, diabetes is the fourth leading cause of death. According to the International Diabetes Federation (IDF), seven Mn people are added every year to the pool of 246 Mn diabetics, which is projected to increase approximately 438 Mn by 2030. Moreover, about 3.8 Mn people die each year from diabetes. The global market is highly fragmented with the presence of several large and small vendors, due to which it witnesses an intensely competitive environment. For the development of new products, and enhance the competitiveness, most vendors partnering with other vendors in the global diabetes care devices market.
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diabetes care devices market is growing at a significant rate due to the increase in the incidence of diabetes, especially in adults. The key drivers for the growth of global diabetes care devices market are rise in innovative technologies, minimally or non-invasive products and increasing diabetic population boosting the growth of global diabetes care devices market. Similarly, availability of devices, that are faster, effective, safer, and user-friendly are the key factors fuel the growth of the global diabetes care devices market over the forecast period. Apart from this, government and private investment in research and development, and low diagnostic rates might fuel the growth of global market. However, the high cost of new devices, lack of awareness, stringent regulatory obligations, and disparity in reimbursements are some the factors that are constraining the growth of global diabetes care device market.
The diabetes care devices market size was valued at USD 22 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
9Global Diabetes Care Devices Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029