Global Diabetes Devices Market By Product (Blood Glucose Monitoring devices and Insulin Delivery Devices), By End-User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The global diabetes devices market size is expected to be worth around USD 24.0 Billion by 2022 from USD 68.2 Billion in 2032, growing at a CAGR of 11.3% during the forecast period from 2022 to 2032.

Diabetes devices are devices that are utilized to regulate blood sugar levels in the body which is caused by insulin production. This device is provided to diabetic patients for actual observing blood glucose levels and enhancing the cure for this chronic condition.

Insulin devices are used by diabetes patients who are unable to produce insulin on their own to inject insulin into their bodies. Insulin devices include syringes, pens, pumps, and others. Diabetes devices aid in knowing the sugar levels and take approximate procedures to accomplish blood sugar levels.

Driving Factors

Introduction to New and Technically Developed Products to Drive the Diabetes Devices Market Growth

The establishment of new products in diabetes monitoring systems and treatment devices worldwide is one of the significant factors driving the market growth. Rise in the incidence of diabetes and change in urbanization and sedentary lifestyles. Additionally, technological developments in the field of diabetes devices and an increase in the diabetic population across the world propel the market growth.

The rise in investments by public and private organizations for diabetes care is the major factor driving the market growth. Increasing digital health technology and the availability of software apps for managing diabetes fuel the market growth.  Increasing approval of insulin delivery devices propels market growth.

Furthermore, increasing demand for diabetes care devices and accelerated the market growth presently. The rise in obesity is one of the causes of diabetes in the general population. Obesity is more predominant in men. Risk factors, including an increase in the incidence of obesity directly related to the rising prevalence of diabetes, fueling the market growth.

Restraining Factors

Lack of Awareness Regarding the Use of Diabetes Devices Hamper Market Growth

High-cost devices used for the diagnosis and treatment of diabetes hamper the market growth.  Additionally, the long procedures of registration and reimbursement concerns also position a risk to the market. Less knowledge regarding the need for self-monitoring blood glucose levels in some regions is the main factor that could restrain the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has had an adverse effect on the global diabetes devices market. The pandemic hinders the market growth. It has been witnessed that patients infected with the COVID-19 pandemic have high blood glucose levels. The COVID-19 outbreak resulted in stock market instability, strict border controls, and nationwide lockdowns, all taking their toll on several sectors.

The outbreak has majorly stressed hospital sources, including medical devices and healthcare specialists. During the COVID-19 pandemic, the Food and Drug Administration provides guidelines to raise the accessibility of non-invasive remote tracking systems.

By Product Analysis

Insulin Delivery Devices Segment to Witness Significant Growth

The global diabetes devices market is segmented into blood glucose monitoring devices and insulin delivery devices. The insulin delivery devices segment accounted for the highest market revenue share of 55.8% in 2022. Due to the factors such as increasing approval of unhealthy routines and an increase in the occurrence of type 1 and type 2 diabetes across the world.

Rising the usage of insulin pens by patients suffering from a high level of blood sugar. The insulin pens derive preloaded with insulin of the patient’s required amount to be prescribed by physicians. One of the major factors propelling the requirement for insulin-delivery devices is the increasing number of regulations and authorizations for technical developments in insulin-delivery devices.

The blood glucose monitoring devices segment has been dominating during the historical period and is estimated to hold the second-largest market share. A rising number of regulatory approval for continuous blood glucose monitoring systems and technical advances drive the segment’s growth. Increasing approval of wearable continuous blood glucose monitoring systems and smart insulin pumps for self-diabetes management fueling the segment’s growth.

By End-User Analysis

The Hospitals Segment Dominates the Market Growth of the Diabetes Devices Market

Based on the end-user, the global diabetes devices market is divided into hospitals, ambulatory surgical centers, diagnostic centers, and others. The hospital’s segment dominated the maximum market revenue share of 39% in 2022. The requirement in this market is going up due to more and more diabetic individuals being admitted to hospitals, propelling up the number of individuals demanding these products.

Compared to individuals who don’t have diabetes, individuals with diabetes are more likely to be admitted to the hospital. Since these technological changes, insulin pumps have been used in hospitals.  The diagnostic center’s segment is anticipated to witness the fastest growth rate during the forecast period.

Key Market Segments

By Product

• Blood Glucose Monitoring Devices
• Insulin Delivery Devices

By End-User

• Hospitals
• Ambulatory Surgery Centers
• Diagnostic Centers
• Other End-Users

Growth Opportunity

Increase Awareness Campaigns and Government Initiatives

Various government initiatives and consciousness are the major factors creating lucrative opportunities for the market. There has also been rising in government investments in healthcare. According to the International Diabetes Federation- related healthcare expenditure is rapidly increasing. The manufacturers are now focusing on creating opportunities for the market.

The rise in the number of R&D activities for diabetes treatment offers significant opportunities for key players in the market. Increasing awareness of diabetes monitoring devices in developing regions provides various opportunities for the market.

Latest Trends

The adoption of Insulin Pumps is the Global Trend in the Market

Approval of insulin pumps is rising continuously in developing and developed regions is the global trend in the market. The increasing diabetes population worldwide is an emerging trend in the market. Moreover, the present continuous glucose monitoring devices can either respectively display the trend in the level of blood glucose by downloading the data.

Regional Analysis

North America Dominates the Global Diabetes Devices Market During the Forecast Period

North America accounted for a significant diabetes devices market revenue share of 35.4% due to the large diabetic population and favorable reimbursement rules. High per capita income and rising healthcare expenditure are the major factors propelling the market growth of the U.S. region. The higher permeation of the fast food chain in the U.S. has majorly influenced the consumption of several unhealthy fast foods and soft drinks. This is the main cause of diabetes in North America.

Increasing health awareness among the population and the need for diabetes devices are developing the market growth of this region; according to WHO, millions of individuals were suffering from diabetes in Europe, and comparatively lower prices of insulin and insulin delivery devices. Consequently, rising demand and sales of insulin delivery devices are some of the factors that propel regional growth.

The Asia-Pacific market is anticipated to hold the maximum revenue share during the forecast period. Owing to the rising diabetic population, increasing approval of the technologically developed blood glucose meters, and a higher need for insulin delivery devices.

Latin America and the Middle East, and Africa are anticipated to register at a major CAGR during the forecast period due to the increasing healthcare spending and rising diabetes population.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

The diabetes devices market is highly developing, with the presence of many international and domestic key players operating in the market. F. Hoffmann-La-Roche Ltd is a major player in the market due to its robust portfolio in diabetes devices and strong distribution network across the world. Market players are launching novel diabetes devices for market growth.

This key player is started to achieve a higher market share by adopting strategies such as partnerships, collaborations, and innovative technologies. Some of the prominent key players in the diabetes devices market include F. Hoffmann-La-Roche Ltd, B. Braun Melsungen AG, Medtronic plc, Abbott, Sanofi SA, Tandem Diabetes Care, Inc., Terumo Corporation, and other key players.

Top Key Players

• F. Hoffmann-La-Roche Ltd
• B. Braun Melsungen AG
• Medtronic plc
• Abbott
• Sanofi SA
• Tandem Diabetes Care, Inc.
• Becton Dickinson & Company
• Terumo Corporation
• Other Key Players

Recent Development

• May 2021-Medtronic plc introduced that the corporation had acknowledged European adoption for 2 diabetes management devices, first in pen, an associated insulin pen aimed at customers demanding day-to-day injections. The second is Guardian 4 sensor, planned to be used either as a standalone constant glucose monitor or within a pen, and together are CE noticeable.
• June 2022-Abbott introduced that the corporation had confirmed a contract with Tandem Diabetes Care, Inc. to improve incorporated diabetes solutions that pool its constant glucose monitoring technology with Tandem’s new insulin delivery systems to supply individuals with more choices to accomplish their diabetes.

Report Scope