Global Diabetes Management Devices Market Growth (Status and Outlook) 2024-2030
Diabetes Management Devices market size is projected to grow from US$ 39160 million in 2023 to US$ 63970 million in 2030; it is expected to grow at a CAGR of 7.3% from 2024 to 2030
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According to Publisher’s latest study, the global Diabetes Management Devices market size is projected to grow from US$ 39160 million in 2023 to US$ 63970 million in 2030; it is expected to grow at a CAGR of 7.3% from 2024 to 2030.
Market Overview
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Diabetes management devices include insulin delivery systems and blood glucose monitoring devices, which are used to treat diabetes effectively and efficiently with fewer side effects. Diabetes (type 1 and type 2) is a chronic disease condition, which occurs due to glucose impairment. The major factors contributing to the disease include obesity, urbanization, sedentary lifestyle, smoking, an elevated level of cholesterols, and hypertension. Vendors in this market are offering high-end insulin delivery systems (less invasive, sleek, pocket-sized, and portable devices) and continuous glucose monitoring systems, which are highly efficient and have user-friendly features.
Publisher’s newest research report, the “Diabetes Management Devices Industry Forecast” looks at past sales and reviews total world Diabetes Management Devices sales in 2023, providing a comprehensive analysis by region and market sector of projected Diabetes Management Devices sales for 2024 through 2030. With Diabetes Management Devices sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Diabetes Management Devices industry.
This Insight Report provides a comprehensive analysis of the global Diabetes Management Devices landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Diabetes Management Devices portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Diabetes Management Devices market.
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Manmayi Raval
Research Consultant
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Diabetes Management Devices and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Diabetes Management Devices.
According to publisher’s research, the global market for medical devices is estimated at US$ 603 billion in the year 2023 and will be growing at a CAGR of 5% during next six years. The global healthcare spending contributes to occupy 10% of the global GDP and is continuously rising in recent years due to the increasing health needs of the aging population, the growing prevalence of chronic and infectious diseases and the expansion of emerging markets. The medical devices market plays a significant role in the healthcare industry. The market is driven by several factors, including the increasing demand for advanced healthcare services globally, advancements in medical technology, growing geriatric population, rising healthcare expenditure, and increasing awareness about early disease diagnosis and treatment.
Key Features:
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Market Drivers: Growing Prevalence of Diabetes: One of the main drivers of the market is the rise in diabetes cases worldwide, which is being caused by sedentary lifestyles, aging populations, and bad dietary habits. The International Diabetes Federation projects a sharp increase in the number of diabetics in the upcoming years.
Technological Advancements: The development of sophisticated insulin pumps and non-invasive glucose monitoring devices, among other innovations in diabetes management technology, is increasing the efficacy and convenience of diabetes care and propelling market expansion.
Growing Education and Awareness: More people are using these devices as a result of growing education and awareness on the significance of managing diabetes and routine monitoring. In this context, public health campaigns and educational initiatives are essential.
Challenges- High Cost of Devices: Adoption may be hampered by the high cost of sophisticated diabetes control devices, especially in low- and middle-income nations.
Lack of Knowledge and Education: In many areas, the availability of devices and diabetes management are not well-known, which hinders market expansion.
Regulatory Difficulties: Extensive licensing procedures and strict regulations can cause delays in the release of innovative gadgets onto the market.
Market Forecasts and Future Outlook: Between 2024 and 2030, the global market for diabetes management devices is anticipated to increase rapidly due to factors such as rising diabetes prevalence, advancements in technology, and rising awareness of diabetes care. The market provides many prospects for growth through technological integration, expansion into emerging markets, and an emphasis on preventative care, despite obstacles like high costs and regulatory barriers. Businesses will be well-positioned to take advantage of the market's potential if they can innovate and adjust to shifting market conditions.
Opportunities: Technological Integration: There are prospects for improved patient engagement and data analysis when diabetes management devices are integrated with digital health platforms and mobile applications.
Growth Prospects: Enterprising companies can achieve substantial growth by venturing into emerging markets that have a high incidence of diabetes and enhancing their healthcare infrastructure.
Emphasis on Preventive Care: There are prospects for market expansion as the demand for monitoring devices is being driven by an increased emphasis on preventive care and early diabetes diagnosis.
Product Innovation: Continual advancements in technology, such as the creation of sophisticated CGM systems and intelligent insulin pens, have the potential to draw in additional customers and expand the industry.
Market Segmentation:
This report presents a comprehensive overview, market shares, and growth opportunities of Diabetes Management Devices market by product type, application, key players and key regions and countries.
1. Segmentation by type
• Blood Glucose Monitoring Device
• Insulin Delivery Systems
2. Segmentation by application
• Hospitals
• Clinics
• Others
Regional Insight: North America: Because of the region's high diabetes prevalence, sophisticated healthcare system, and large R&D expenditures, the region leads the global market for diabetes management devices. The biggest market in this area is the United States.
Europe: With nations like Germany, France, and the UK leading the way, Europe is a sizable market for diabetes treatment devices. Two of the main growth drivers are the emergence of large market competitors and rising awareness.
Asia-Pacific: Growing awareness, better healthcare facilities, and an increase in diabetes cases are all predicted to fuel the region's rapid rise. China and India play a significant role in the growth of the industry.
Latin America: The two major markets in the region are Brazil and Mexico, both of which have strong growth prospects. Demand is being driven by rising healthcare costs and government initiatives.
Middle East and Africa: The region is expanding steadily, propelled by increased numbers of people with diabetes and rising expenditures for healthcare facilities.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape- There are many competitors in the fiercely competitive diabetes control device market, ranging from well-established businesses to start-ups. To obtain a competitive edge, major businesses are concentrating on regional expansion, strategic alliances, and product innovation. Abbott Laboratories, Medtronic, Dexcom, Inc., F. Hoffmann-La Roche Ltd., and Johnson & Johnson are a few of the well-known players in the industry. The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Abbott Laboratories
• Dexcom
• Roche
• Lifescan
• Medtronic
• Terumo
• B. Braun Melsungen
• BD
• Ascensia (Bayer)
• Senseonics Holdings
• Johnson & Johnson
• Eli Lilly
• Novo Nordisk
• Sanofi
• Ypsomed Holding
• GlySens Incorporated
• Meiqi Medical Equipment
• San Meditech
• All Medicus
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Diabetes Management Devices Market Size 2019-2030
2.1.2 Diabetes Management Devices Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Diabetes Management Devices Segment by Type
2.2.1 Blood Glucose Monitoring Device
2.2.2 Insulin Delivery Systems
2.3 Diabetes Management Devices Market Size by Type
2.3.1 Diabetes Management Devices Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Diabetes Management Devices Market Size Market Share by Type (2019-2024)
2.4 Diabetes Management Devices Segment by Application
2.4.1 Hospitals
2.4.2 Clinics
2.4.3 Others
2.5 Diabetes Management Devices Market Size by Application
2.5.1 Diabetes Management Devices Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Diabetes Management Devices Market Size Market Share by Application (2019-2024)
3 Diabetes Management Devices Market Size by Player
3.1 Diabetes Management Devices Market Size Market Share by Players
3.1.1 Global Diabetes Management Devices Revenue by Players (2019-2024)
3.1.2 Global Diabetes Management Devices Revenue Market Share by Players (2019-2024)
3.2 Global Diabetes Management Devices Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Diabetes Management Devices by Regions
4.1 Diabetes Management Devices Market Size by Regions (2019-2024)
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