[Latest] US Diabetes Devices Market Size/Share Worth USD

Austin, TX, USA, July 23, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “US Diabetes Devices Market Size, Trends and Insights By Type (Blood Glucose Monitoring Devices, Insulin Delivery Devices), By Sale Channel (Hospital pharmacies, Retail Pharmacies, Diabetes Clinics, Online Pharmacies, Others), By End User (Hospitals, Diagnostic Center), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of US Diabetes Devices Market size & share was valued at approximately USD 5.4 Billion in 2023 and is expected to reach USD 6.8 Billion in 2024 and is expected to reach a value of around USD 19.8 Billion by 2033, at a compound annual growth rate (CAGR) of about 7.3% during the forecast period 2024 to 2033.”

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US Diabetes Devices Market: Overview

Glucose monitoring systems, such as glucometers, help individuals measure their blood sugar levels, while CGM systems provide continuous real-time glucose readings, offering valuable insights into glucose trends and patterns. Insulin delivery devices, such as insulin pumps, pens, and syringes, enable precise administration of insulin doses to regulate blood sugar levels.

In the US, the diabetes device market is witnessing several prominent trends that are reshaping how diabetes is managed. Firstly, there’s a notable shift towards greater integration and connectivity in diabetes devices, driven by advancements in digital health technologies.

This includes the rise of continuous glucose monitoring (CGM) systems and insulin pumps with smartphone connectivity, allowing for real-time data monitoring and remote patient management. Secondly, there’s a growing emphasis on user-friendly and discreet designs, catering to the preferences and lifestyle needs of individuals with diabetes.

Additionally, there’s increasing interest in the development of closed-loop systems or artificial pancreas technologies, aiming to automate insulin delivery and optimize blood glucose control.

Furthermore, there’s a trend towards personalized medicine, with the integration of data analytics and artificial intelligence to tailor diabetes management strategies to individual patient characteristics, leading to more precise and effective treatment outcomes.

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By type, the insulin delivery devices segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The trend in insulin delivery devices is towards increased convenience, accuracy, and integration of technology.

This includes the development of smaller, more discreet insulin pumps, wearable continuous glucose monitors, and automated insulin delivery systems to improve management and quality of life for individuals with diabetes.

By application, the hospital pharmacies segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033.

A growing trend in hospital pharmacies is the integration of advanced technologies such as automated medication dispensing systems, robotic medication compounding, and electronic health record integration. These innovations aim to enhance medication safety, efficiency, and patient care outcomes.

By end user, hospital segment held highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033.

A notable trend in hospitals is the increasing integration of technology, such as telemedicine and remote monitoring systems, to enhance patient care delivery and efficiency. This shift reflects a broader emphasis on digital health solutions and patient-centered care models.

Becton Dickinson and Co (BD) is a medical technology company, which manufactures and sells medical devices, reagents, and instruments.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 6.8 Billion
Projected Market Size in 2033	USD 19.8 Billion
Market Size in 2023	USD 5.4 Billion
CAGR Growth Rate	7.3% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Type, Sale Channel, End User and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	US
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the US Diabetes Devices report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the US Diabetes Devices report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed US Diabetes Devices market. The driving forces, restraints, challenges, opportunities, key trends have been explained in depth to depict in depth scenario of market. Segment wise market size and market share during the forecast period is duly addressed to portray the probable picture of this US Diabetes Devices industry.

The competitive landscape includes of key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively with respect to their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the US Diabetes Devices market and what is its expected growth rate?
What are the primary driving factors that push the US Diabetes Devices market forward?
What are the US Diabetes Devices Industry's top companies?
What are the different categories that the US Diabetes Devices Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the US Diabetes Devices market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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US Diabetes Devices Market: Recent Developments

In March 2023, Medtronic announced the launch of its new MiniMed 780G hybrid closed-loop insulin delivery system. The MiniMed 780G system is a combination of an insulin pump and a CGM system that automatically adjusts insulin delivery based on blood glucose levels. The system is designed to help people with type 1 diabetes achieve better glycemic control.

In February 2023, Dexcom announced the launch of its new Dexcom G7 CGM system. The Dexcom G7 is a smaller, more accurate, and longer-lasting CGM system than previous models. The system is also designed to be more affordable and easier to use.

In October 2023, Biocon revealed a partnership with Juno Pharmaceuticals, a specialty pharmaceutical firm in Canada. The collaboration aims to commercialize Liraglutide, a drug-device combination designed to treat and manage Type 2 diabetes and obesity within the Canadian market.

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List of the prominent players in the US Diabetes Devices Market:

Medtronic
Roche
Johnson & Johnson
Abbott Laboratories
Becton Dickinson and Company
Novo Nordisk
Dexcom
Sanofi
Insulet Corporation
Ascensia Diabetes Care Holdings AG
Ypsomed Holding AG
Eli Lilly and Company
LifeScan
Tandem Diabetes Care
Terumo Corporation
Arkray
Senseonics Holdings Inc.
MicroPort Scientific Corporation
Nipro Corporation
Sinocare Inc.
AgaMatrix Holdings LLC
Trividia Health Inc.
Others

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The US Diabetes Devices Market is segmented as follows:

By Type

Blood Glucose Monitoring Devices
Insulin Delivery Devices

By Sale Channel

Hospital pharmacies
Retail Pharmacies
Diabetes Clinics
Online Pharmacies
Others

By End User

Hospitals
Diagnostic Center

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This US Diabetes Devices Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Key Players in This US Diabetes Devices Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Market Status of the US Diabetes Devices Market? What Was the Capacity, Production Value, Cost and PROFIT of the US Diabetes Devices Market?
What Is the Current Market Status of the US Diabetes Devices Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of US Diabetes Devices Market by Considering Applications and Types?
What Are Projections of the US Diabetes Devices Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is US Diabetes Devices Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On US Diabetes Devices Industry? What are Macroeconomic Environment Analysis Results? What Are Macroeconomic Environment Development Trends?
What Are Market Dynamics of US Diabetes Devices Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for US Diabetes Devices Industry?

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Reasons to Purchase US Diabetes Devices Market Report

US Diabetes Devices Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
US Diabetes Devices Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
US Diabetes Devices Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
US Diabetes Devices Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the US Diabetes Devices market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide US Diabetes Devices market analysis.

The competitive environment of current and potential participants in the US Diabetes Devices market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide US Diabetes Devices market should find this report useful. The research will be useful to all market participants in the US Diabetes Devices industry.
Managers in the US Diabetes Devices sector are interested in publishing up-to-date and projected data about the worldwide US Diabetes Devices market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in US Diabetes Devices products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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