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Global Diabetes Devices Market By Type (BGM Devices, Insulin Delivery Devices) By Distribution Channel (Hospital pharmacies, Retail Pharmacies, Diabetes Clinics/Centers Online Pharmacies, Others) By End User (Hospitals, Homecare, Diagnostic Centers) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2031.

In 2021, the market for Diabetes Devices worldwide was worth $ 24.7 billion US dollars. AMR Group projects that the market will reach US$ 43.4 billion by 2031, growing at a CAGR of 7.8 percent between 2022 and 2031.

Industry Overview

Diabetes is a condition that arises when blood glucose levels exceed normal levels due to a problem with the synthesis of insulin, which regulates glucose levels. Blood glucose, which is obtained from the food eaten, is the main source of energy. Insulin, a hormone produced by the pancreas, controls blood sugar levels. A defect in the body’s capacity to create insulin, which prevents it from regulating blood glucose levels, is the cause of diabetes. Normal blood glucose levels vary from 70 to 100 mg/dL, however in diabetes patients, they can go up to 80 to 130 mg/dL. The glucose levels of a diabetic patient are monitored with diabetes care equipment. A continuous glucose monitor (CGM) is a medical gadget that continuously measures and monitors a diabetic patient’s blood glucose levels. Those with diabetes may utilize this wearable technology to better control their blood sugar levels, making it very helpful for them. Ketone monitors, blood glucose monitors, continuous glucose monitors, insulin pumps, smart insulin pens, and diabetes management software are a few examples of the various technologies that may track diabetic symptoms. The patient’s health is improved by the use of glucose monitoring devices, which assist to maintain and manage glucose levels.

The youth are more likely to get diabetes early due to their younger ages and longer diabetes durations, which lowers their quality of life, reduces life expectancy, and raises healthcare expenditures. As a result, it is anticipated that the incidence of diabetes would rise over time. There is also fear that, as a result of the modern lifestyle and technology improvements, diabetes may be appearing more frequently in children and young people, boosting the usage of diabetes care devices.

Market Dynamics

One of the factors fueling the market’s expansion is the rise in diabetes cases brought on by age, obesity, and bad lifestyle choices. Obesity is one of the major causes of diabetes among the people. a rise in diabetes cases with a shift in urbanization and sedentary behavior. The diabetic care market will be dominated during the projected period by technical developments in the field of diabetes devices, an increase in the number of diabetics worldwide, a rise in the need for quick and safe diagnoses, and an increase in diabetes therapies.

Continuous glucose monitoring systems assess blood sugar levels using glucose oxidase. Platinum reacts with glucose oxidase in the sensor to create hydrogen peroxidase, which then generates an electrical signal and transmits it to the transmitter. The sensor is the most important part of equipment used for continuous glucose monitoring. Throughout the projected period, technological developments to increase sensor accuracy are anticipated to fuel market expansion. Nevertheless, blood glucose monitoring systems only provide a range of blood glucose levels rather than a precise measurement of the amount of glucose in the blood. Moreover, negative consequences linked to various diabetes treatment technologies limit market expansion.

COVID Impact

The COVID-19 pandemic gave a positive impact on the Diabetes Devices business market. The COVID-19 global epidemic became a global epidemic, causing significant infection burden and financial issues in several sectors of the global economy. Impact of COVID-19 on the market for diabetic care devices was still favorable compared to other device market. This was because people with various medical conditions, such as diabetes and high blood pressure, were more likely to get this virus. Compared to the general population, diabetes patients had a higher death rate. Diabetes patients need care and constant access to insulin (administered with syringes or pens). As a result, the use of insulin pens and continuous glucose monitoring systems raised the need for careful monitoring and effective diabetes treatment. The COVID-19 pandemic highlighted the need of excellent glycemic management in diabetic patients, in large part because the majority of observational studies have found a link between poorly managed diabetes and an increased risk of hospitalization and viral illness-related death. Population-level real-time continuous glucose monitoring (rtCGM) was utilized to monitor changes in glycemic control with temporal and geographic specificity, according to a research paper by Joost van der Linden et al., published in Diabetes Technologies & Therapeutics Journal in March 2021. Time-in-range (TIR) improvements linked to the COVID-19 epidemic were not uniformly spread across the US.

Regional Trend

Geographically, North America dominated the Diabetes Devices market, accounting with the growth rate of 6.5% of total revenue in 2022. owing to the rising prevalence of diabetes in North America as a result of stress, poor diets, and obesity. By 2027, there will be 34 million diabetes patients in North America, up from the current total of over 29 million. In 2021, there were more than 26 million diabetic patients in only the United States. The market for diabetic care devices in North America is dominated by the United States. The development of the diabetes care device market in this area is also aided by favorable government reimbursement policies and a sophisticated healthcare system. The United States’ fast rising incidence and prevalence of diabetic patients, as well as healthcare spending, point to an increase in the use of diabetes care products.

Due to a rise in the prevalence of diabetes there as well as a sizable diabetic and pre-diabetic patient population, an increase in the strengthening of global product manufacturers’ distribution networks, and a surge in the expansion of cutting-edge medical facilities in emerging nations like China and India, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period.

Competitive Landscape

Key players operating in the Diabetes Devices Market includes, Abbott Laboratories, ACON Laboratories, Inc., Arkray, Inc., B Braun Melsungen AG, Bayer AG, Becton, Dickinson and Company, Companion Medical, Dexcom Inc., F. Hoffmann-La Roche Ltd., Insulet Corporation, Johnson & Johnson, Lifescan, Inc., Medline Industries, Medtronic PLC, Nipro corporation, Novo Nordisk A/S, Sanofi, Terumo Corporation, Valeritas Holding Inc., and Ypsomed Holdings among others. The cooperation between Abbott, CamDiab, and Ypsomed to create and market an integrated automated insulin delivery (AID) system across European nations was announced in April 2022. The connected, intelligent wearable eliminates the need for guesswork in insulin delivery by continuously monitoring a person’s blood sugar levels and automatically adjusting and delivering the right quantity of insulin at the right time.

Key USPs–

The World Health Organization (WHO) estimates that low- and middle-income nations are home to 80% of the world’s elderly population. The total number of people 60 and older is projected to reach 2 billion by 2050. As a result, the aforementioned reasons are increasing demand for insulin pumps in settings of at-home care, which is anticipated to develop at an exponential rate.

Market Segmentation

Based upon the Type in the Diabetes Devices market is segmented BGM Devices and Insulin Delivery Devices. The Type segment is dominated by Insulin Delivery with the highest revenue share from this segment in the Diabetes Devices market for 2021. In the worldwide diabetes devices market, insulin delivery devices are the category with the quickest rate of growth, accounting for about 56.9% of the market in 2021. The market has been divided into pens, pumps, syringes, and jet injectors based on the insulin delivery device. In 2021, pens had a greater market share for diabetic devices.  Based on the Distribution Channel, the Diabetes Devices market is segmented into Hospital pharmacies, Retail Pharmacies, Diabetes Clinics/Centers Online Pharmacies and Others. Due to strong traffic and product availability, hospital pharmacies accounted for over 54.0% of market penetration in 2021. Inpatient and outpatient pharmacies are the two types of pharmacies that work on a hospital site. The hospital has an inpatient pharmacy that serves the operating rooms, intensive care units, inpatient wards, and special service sections but is only available to authorized staff.

End user segment of Diabetes Devices market is further bifurcated into Hospitals, Homecare and Diagnostic Centers. In 2021, the hospital segment held the biggest market share, with 40.9%. Demand for the category is rising as more diabetic people are being admitted to hospitals. Compared to individuals without diabetes, those with diabetes have a threefold increased risk of being hospitalized.

By Type

• BGM Devices
  • Self-Monitoring Devices
    • Blood Glucose Meters
    • Testing Strips
    • Lancets
  • Continuous Glucose Monitoring Devices
    • Sensors
    • Transmitters
    • Receiver
  • Insulin Delivery Devices
    • Pumps
    • Pens
    • Syringes
    • Jet Injectors

By Distribution Channel

• Hospital pharmacies
• Retail Pharmacies
• Diabetes Clinics/Centers
• Online Pharmacies
• Others

By End User

• Hospitals
• Homecare
• Diagnostic Centers