The global diabetes care devices market size had a share of USD 52,692 million, which is expected to reach USD 87,150 million at a CAGR of 6% during the forecast period (2022–2030). North America will hold a share of USD 40,671 million during the forecast period, growing at a CAGR of 7%.

New York, United States, June 29, 2022 (GLOBE NEWSWIRE) -- Diabetes is a life-threatening, chronic disorder for which there is no treatment. Diabetes is becoming a global pandemic affecting millions of individuals worldwide. Type-1 diabetes is caused by an immune system defect, but Type-2 diabetes is related to a sedentary lifestyle, which leads to insulin resistance. Type 1 diabetes is insulin-dependent, and Type 2 diabetes is also insulin-dependent.

Diabetes is associated with several health problems. People with diabetes are 300% more likely to be hospitalized, and as a result, they incur higher healthcare costs than those without diabetes. This is a comparison between the diabetic population and the non-diabetic population. Diabetes technologies and equipment are irreversible realities. They provide patients with an opportunity to improve their self-care.

Monitoring blood sugar enables you to determine if you are meeting your glucose targets, reducing the uncomfortable symptoms of high and low blood sugar, and preventing the long-term complications of diabetes. Diabetes monitoring and prevention agencies, such as the ADA, are making investments in considerable resources in the study and creation of innovative medical equipment for managing the epidemic and increasing the life expectancy of diabetic patients to enhance the quality of medical services and the efficacy of administered treatments.

In addition, patients attempting to maintain tight control of their blood glucose levels to avoid the long-term consequences associated with variations in blood glucose levels are more susceptible to overcorrection, resulting in hypoglycemia. Patients attempt to maintain tight control over their blood glucose levels to avoid the accompanying long-term consequences. Modest results can be challenging without several daily insulin injections or insulin pump therapy. As a result, the global demand for diabetes care devices is increasing, which will keep the market in the spotlight during the projection period.

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Prevalence of Diagnosed Cases Fostering Research and Treatment to Drive the Diabetes Care Devices Market

In the U.S., diabetes has reached epidemic proportions. As reported by the Centers for Conditions Control and Prevention (CDC) of the United States. The CDC reports that over 30 million people in the United States have been diagnosed with the disease. As per the American Diabetes Association, in 2018, nearly 29 million people in the United States sustained from diabetes, with approximately 1.3 million registered cases of Type 1 diabetes and an additional 84.1 million people exhibiting prediabetic symptoms that elevated their risk of developing Type 2 diabetes. Type 1 diabetes affects a person's ability to produce insulin, while Type 2 diabetes affects a person's ability to store and use glucose.

Diabetes monitoring and prevention organizations such as the American Diabetes Association (ADA) are investing massive resources in innovative medical device research and development to manage the epidemic and boost the life expectancy of diabetic patients. This is done to improve the quality of medical services and the efficacy of prescribed treatment options. The ever-increasing prevalence and severity of diabetic patients and the ever-increasing cost of healthcare in a variety of countries are indicators of the expanding need for diabetic care goods. It is anticipated that the implementation of such diabetes awareness and care programs would increase demand for diabetic care devices, which will, in turn, boost the market's expansion over the forecast period.

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Global Diabetes Care Devices Market Opportunities

Enhancing the safety and quality of healthcare is contingent upon government policy. In North America, for instance, the federal, state, and municipal levels of government coexist. Crucial elements of a long-term plan to avoid chronic diseases like diabetes include modifications to policies, systems, and the environment (PSE). While government actions and environmental changes aim to make healthy behaviors more attainable or desirable and unhealthy exposures more challenging or even prohibited, system-level interventions aim to improve the operation of an agency or organization and the delivery of services to the community.

Since 1998, the U.S. government has invested USD 2.5 billion in Type 1 diabetes research under the Special Diabetes Program. Presently, the United States government gives USD 150 million annually to the National Institutes of Health for diabetes research (NIH). Similar to the United States, medical treatment standards in Canada are governed by the Canada Health Act of 1985, which grants the Canadian government the responsibility to control the efficacy and medical device, pharmaceutical, and natural health product liability, fund health research, and oversee a variety of services to specific populations.

In addition to federal initiatives, the provincial governments of Canada's provinces have implemented several programs to address the onset of diabetes among their citizens. Developing such government-funded care programs and initiatives is projected to raise the demand for diabetic care equipment shortly.

Regional Insights

North America will hold a share of USD 40,671 million during the forecast period, growing at a CAGR of 7%. The United States is the region's top contributor. Owing to the accessibility of glucose meter reimbursement alternatives, monitoring devices are increasing in popularity. New advancements in the country of the area, the United States, are anticipated to increase the diabetes market in the region. In January 2020, for instance, the Tandem Control-IQ became the first AID system with automatic correction boluses and no fingerstick CGM (Dexcom G6) certified for persons aged 14 and older. Tandem Diabetes Care Inc. announced in June of 2020 that the U.S. Food and Drug Administration (FDA) had authorized an additional pediatric indication for the t: slim X2TM insulin pump with Control-IQTM technology to accommodate children aged six and older.

During the projected period, the market will also expand due to firms partnering to bring innovative technologies. For example, in July 2020, Medtronic PLC and Tandem Diabetes Care Inc. agreed to a non-exclusive patent cross-licensing arrangement applicable to particular diabetes-related inventions. Tandem Diabetes Care announced in June 2020 that they had reached a definitive agreement with Abbott to develop and commercialize embedded diabetes solutions that combine Abbott's continuous glucose monitoring (CGM) technology with Tandem's innovative insulin delivery systems to provide more management options for diabetes. As a result, it is projected that these factors will raise the market for diabetes care devices in both the United States and North America.

Europe is anticipated to have USD 12,292 million shares with a CAGR of 7%. France and Germany are envisioned to be the most significant contributors to the region's growth.

Multiple French businesses are developing CGM solutions to extend diabetic patients' life expectancy. During the forecast period, the French insulin infusion pump market will be bolstered by the French startup Diabeloop SA's announcement that it has raised GBP 31 million in a Series B financing round to hasten the commercial production of its artificial pancreas device configured for automatic blood glucose control in Europe. Moreover, several small businesses are manufacturing SMBG at a lesser cost than global enterprises.

The German Center for Diabetes Research (DZD) conducts extensive scientific research to discover effective strategies for the prevention and treatment of diabetes. In Germany, insulin pump accessories cost approximately 10 euros, or 11 dollars, for three months. These elements are expected to cause the growth of Europe's regional market in the following years.

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Key Highlights

• The global diabetes care devices market is projected to grow at a CAGR of 6% and reach USD 87,150 million by 2030.
• Based on monitoring devices, the self-monitoring blood glucose devices segment is expected to have a share of USD 22,939 million at a CAGR of 8%.
• Based on management devices, the disposable insulin pens segment is expected to grow at a CAGR of 4% and reach USD 21,535 million by 2030.
• The North America market will grow at a CAGR of 7% and reach USD 40,671 million by 2030.
• Europe will hold a share of USD 12,292 million at a CAGR of 7% by 2030.

Competitive Players in the Market
Significant market players in the global diabetes care device market are

• Abbott
• F. Hoffmann-La Roche AG
• Johnson & Johnson
• Dexcom
• Medtronic
• Novo Nordisk
• Ascensia Diabetes Care
• AgaMatrix
• Bionime Corporation
• Omnipod
• Medisana
• Trivia
• Rossmax International Ltd.

Global Diabetes Care Devices Market: Segmentation

By Monitoring Device

• Self-monitoring Blood Glucose Device (Glucometers, Test Strips, Lancets)
• Continuous Glucose Monitoring Devices (Sensors and Durables (Receivers and Transmitters)

By Management Device

• Insulin Pump (Insulin Pump Monitors, Insulin Pump Reservoirs, Insulin Infusion Sets)
• Insulin Syringes
• Cartridges in Reusable pens
• Insulin Disposable Pens
• Jet Injectors

By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa

TABLE OF CONTENT

1          Introduction
1.1      Market Definition
1.2      Market Scope
2          Research Methodology
2.1      Primary Research
2.2      Research Methodology
2.3      Assumptions & Exclusions
2.4      Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1      Report Segmentation & Scope
4.2      Value Chain Analysis: Diabetes Care Devices Market
4.2.1  Vendor Matrix
4.3      Key Market Trends
4.3.1  Drivers
4.3.2  Restraints
4.3.3  Opportunities
4.4      Porter’s Five Forces Analysis
4.4.1  Bargaining Power of Suppliers
4.4.2  Bargaining Power of Buyers
4.4.3  Threat of Substitution
4.4.4  Threat of New Entrants
4.4.5  Competitive Rivalry
4.5      Environment & Regulatory Landscape
4.6      Forecast Factors & Relevance of Impact
4.7      Macro-Economic & Geopolitical Scenario
4.8      Parent Market Overview
4.9      Technology Landscape
4.10   Market Share Analysis
4.11   Potential Venture Analysis
4.12   Regional Price Trends
4.13   Raw Material Trends
4.14   Cost Structure Analysis
4.14.1            Labor Cost
4.14.2            Consumables
4.14.3            Maintenance Cost
4.15   Covid-19 Impact Analysis:
4.15.1            Pre and Post Covid-19 Market Scenario Analysis
4.15.2            Market Recovery Timeline and Challenge
4.15.3            Measures Taken by Top Players
4.15.4            Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1        North America
4.15.4.2        Europe
4.15.4.3        Asia-Pacific
4.15.4.4        Central and South America and the Caribbean
4.15.4.5        The Middle East and Africa
5              Monitoring Device Overview
5.1      Introduction
5.1.1  Market Size & Forecast (Value & Volume)
5.2      Self-monitoring Blood Glucose Device (Glucometers, Test Strips, Lancets)
5.2.1  Market Size & Forecast (Value & Volume)
5.3      Continuous Glucose Monitoring Devices (Sensors and Durables (Receivers and Transmitters)
5.3.1  Market Size & Forecast (Value & Volume)
6              Management Device Overview
6.1      Introduction
6.1.1  Market Size & Forecast (Value & Volume)
6.2      Insulin Pump (Insulin Pump Monitors, Insulin Pump Reservoirs, Insulin Infusion Sets)
6.2.1  Market Size & Forecast (Value & Volume)
6.3      Insulin Syringes
6.3.1  Market Size & Forecast (Value & Volume)
6.4      Cartridges in Reusable pens
6.4.1  Market Size & Forecast (Value & Volume)
6.5      Insulin Disposable Pens
6.5.1  Market Size & Forecast (Value & Volume)
7             Regional Overview
7.1      Introduction
7.1.1  Market Size & Forecast (Value & Volume)
7.2      North America
7.2.1  Economic Overview
7.2.2  Market Scenario
7.2.3  U.S.
7.2.4  Canada
7.2.5  Mexico
7.3      Central and South America and the Caribbean
7.3.1  Economic Overview
7.3.2  Market Scenario
7.3.3  Brazil
7.3.4  Argentina
7.3.5  Colombia
7.3.6  Rest of Central and South America and the Caribbean
7.4      Europe
7.4.1  Economic Overview
7.4.2  Market Scenario
7.4.3  Germany
7.4.4  France
7.4.5  The U.K.
7.4.6  Italy
7.4.7  The Rest Of Europe
7.5      Asia-Pacific (APAC)
7.5.1  Economic Overview
7.5.2  Market Scenario
7.5.3  China
7.5.4  Japan
7.5.5  India
7.5.6  Australia
7.5.7  South Korea
7.5.8  Rest Of APAC
7.6      Middle East
7.6.1  Economic Overview
7.6.2  Market Scenario
7.6.3  South Arabia
7.6.4  The UAE
7.6.5  Qatar
7.6.6  Oman
7.6.7  Turkey
7.6.8  The Rest Of Middle East
7.7      Africa
7.7.1  Economic Overview
7.7.2  Market Scenario
7.7.3  Nigeria
7.7.4  South Africa
7.7.5  The Rest Of Africa
8          Competitive Landscape — Manufacturers & Suppliers
8.1      Competition Dashboard
8.2      Industry Structure
8.3      Abbott
8.3.1  Business Overview
8.3.2  Financial Performance
8.3.3  Recent Developments
8.3.4  Portfolio
8.4      F. Hoffmann-La Roche AG
8.5      Johnson & Johnson
8.6      Dexcom
8.7      Medtronic
8.8      Novo Nordisk
8.9      Ascensia Diabetes Care
8.10   AgaMatrix
8.11   Bionime Corporation
8.12   Omnipod, Medisana
8.13   Trivia
8.14   Rossmax International Ltd
9          Conclusion & Recommendation
10       Acronyms & Abbreviations

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Market News

• In 2022, Abbott will release limited quantities of its ElecareÒ speciality amino acid-based formulas.
• In 2022, Hoffmann-La Roche AG developed 3 different LightMix® Modular Virus kits to detect the monkeypox virus.
• In 2022, Ascensia Diabetes Care announced the next-generation Eversense^®E3 Continuous Glucose Monitoring (CGM) System.

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