New York, USA, July 30, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The U.S. Diabetes Devices Market size is predicted to grow from USD 25.23 billion in 2023 to USD 44.36 billion by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction:
What are U.S. Diabetes Devices?
From glucose blood meters and continuous glucose monitoring (CGM) to progressive insulin pumps and more, devices are simpler to utilize and less invasive. The next generation of linked insulin conveyance devices may assist make comprehending the regime. A smart insulin pen is a functional injector pen with an innate smartphone app that can assist people with diabetes to effectively handle insulin conveyance. This smart process computes and traces doses and offers considerate prompting, alerts, and reports. They can come in the configuration of an additive to the present insulin pen or a functional configuration that utilizes preceding cartridges rather than vials or disposable pens.
The U.S. diabetes devices market is witnessing substantial demand owing to CGM gadgets consistently observing glucose levels all through the day and night, offering real-time data to users. These gadgets usually comprise a compact sensor positioned under the skin, a transmitter, and a receiver or smartphone app for exposing glucose readings. The CGM market has been encountering notable growth due to the advantages of continuous glucose monitoring in diabetes handling.
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U.S. Diabetes Devices Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 25.23 billion |
| Market value in 2032 | USD 44.36 billion |
| CAGR | 6.5% from 2024-2032 |
| Base year | 2022 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Key Highlights of the Report
- Growing FDA assent, consciousness amongst U.S. citizens, maturing population, desk-bound lifestyles, and inventions in minimally invasive processes to handle real-time glucose levels are driving the market for U.S. diabetes devices.
- The market is primarily segmented based on type, end-use, and distribution channel.
U.S. Diabetes Devices Market Key Players
- Abbott Diabetes Care
- B Braun Melsungen AG
- BD
- Biocorp
- Johnson & Johnson
- LifeScan Inc.
- Medtronic PLC
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Top Market Developments
Growth Drivers and Trends:
Increasing Consumption of Fast Foods: The escalated intake of fast food across the U.S. has escalated the probability of obesity and type 2 diabetes. For instance, in the U.S., more than 25% of grownups consume fast food every day. The market is impacted by elements such as the existence of diabetes, technological progression in device outline and usefulness, administrative topography, repayment policies, and consumer inclination.
Escalated Glucose Levels: Escalating diabetes and pre-diabetes are situations in which blood glucose levels are registered above their maximum range. Elevated glucose levels may create well-being afflictions and destroy prime organs such as the heart, nerve-connected illnesses, eye intricacies, and kidneys amidst geriatrics supporting the U.S. diabetes devices market.
Expenditure to Handle Blood Glucose: The growing economic weight of diabetes compelled the requirement to handle it at a personal level. In 2022, it was evaluated that the aggregate price of diabetes in the U.S. was positioned at USD 412.9 billion, which involves USD 306.6 billion and USD 106.3 billion in direct and indirect medical prices to handle blood glucose.
Challenges:
Regulation for Commercialization: There are specific directives inflicted for the commercialization of medical gadgets involving those for usage in diabetes handling. This is credited to abolishing probabilities linked with a gadget. For instance, technologies such as functional and more precise gadgets are yet in the premature stages of advancement.
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Segmental Overview
By Type Outlook
- 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 End Use Outlook
- Hospitals
- Diagnostic Centers
- Homecare
By Distribution Channel Outlook
- Hospital Pharmacies
- Retail Pharmacies
- Diabetes Clinics/Centers
- Online Pharmacies
- Others
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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