New York, United States, July 20, 2022 (GLOBE NEWSWIRE) -- The global diabetes devices market had a market share of USD 27,662.11 million in 2021, according to the new report of Straits Research. It is predicted to grow at a CAGR of 6.62% from 2022 to 2030. The global diabetes devices market is expected to grow due to the increasing focus on diabetes care and technological advancements in product innovation. The use of diabetic devices is anticipated to grow due to the growing number of initiatives being conducted by governments and charity groups to raise diabetes awareness.
The Ministry of Health and Family Welfare, the WHO Country Office for India, and other partners, for example, have established mDiabetes, a mobile health program. This public health effort aims to raise awareness about diabetes early detection and treatment. Similarly, WHO and IDF collaborate to prevent and control diabetes while also ensuring a high quality of life for individuals worldwide.
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For example, the WHO Diabetes Program aims to prevent type 2 diabetes, reduce complications, and improve diabetes patients' quality of life. To increase diabetes prevention and control, NGOs and governments are developing norms and standards, raising knowledge about diabetes prevention, and supporting surveillance. As a result, the growing number of diabetes awareness initiatives is likely to contribute to diabetes diagnosis, hence increasing the usage of diabetic devices.
Technological Innovations and Product Advancements to Drive the Diabetes Devices Market
Demand for these devices is being driven by introducing high-end insulin pumps and pens and technological developments in diabetic devices. Leading manufacturers focus on technological advancements and introduce innovative products to gain a significant market share. Novo Nordisk, for example, launched the NovoPen Echo, a new instrument on the market, in January 2014. This is the first gadget in the United States with memory and half-unit dosing features.
In August 2016, Medtronic introduced the MiniMed 630G system in the United States, an integrated insulin pump with continuous glucose monitoring (CGM) technology that delivers better glucose management than multiple injections while avoiding hypoglycemia. As a result, market growth is fueled by technological advances and product improvements.
Report Scope
| Report Metric | Details |
| Market Size | USD 49.25 Billion by 2030 |
| CAGR | 6.62% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Medtronic,Abbott,Ascensia Diabetes Care Holdings AG,Dexcom Inc.,Hoffmann-La Roche Ltd.,Sanofi,Novo Nordisk A/S,Insulet Corporation,Ypsomed,Valeritas Inc |
| Key Market Opportunities | Untapped Opportunities in Developing Economies |
| Key Market Drivers | Growing Focus on Diabetes Care Technological Innovations and Product Advancements |
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Impact of COVID-19
The COVID-19 outbreak provided a severe barrier to healthcare delivery, with severe consequences for diabetes treatment. The closure of routine outpatient clinics has hampered diabetes treatment, reduced inpatient capacity, personnel shortages, medicine shortages, costly medicine, delayed care-seeking, limited self-care practice, transportation issues, and undiagnosed cases/events.
Diabetes device sales, on the other hand, have risen as a result of consumers' constant monitoring of their diabetes status to avoid infection with the COVID-19 virus, which is particularly sensitive to people with diabetes. The overall diabetic devices market growth was limited during the first phase of the pandemic due to severe supply chain limitations.
For the global diabetic devices market, the post-pandemic period will be critical. Manufacturing operations may impede the recovery process, affecting market dynamics and product prices. Also, other end-user sectors, suppliers, and vendors may be unable to meet customer demand due to limited manufacturing, support operations, labor shortages, and other constraints. Overall, the global diabetes devices market recovery will be difficult.
Key Insights
- The Global Diabetes Devices Market was valued at USD 27,662.11 million in 2021 and is anticipated to register a CAGR of 6.62% by 2030.
- By product, the insulin delivery devices segment will likely dominate the market with expected revenue of USD 30,412.19 million by 2030.
- By distribution channel, the retail pharmacies segment will likely dominate the market with expected revenue of USD 11,491.59 million by 2030.
- By end-use, the food packaging segment will likely dominate the market with expected revenue of USD 19,845.68 million by 2030.
- Geographically, the global diabetes devices market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America and Europe were the two significant regional markets in 2021.
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List of Key Players
- Medtronic
- Abbott
- Ascensia Diabetes Care Holdings AG
- Dexcom Inc.
- Hoffmann-La Roche Ltd.
- Sanofi
- Novo Nordisk A/S
- Insulet Corporation
- Ypsomed
- Valeritas Inc.
Global Diabetes Devices Market: Segmentation
By Type
- Blood Glucose Monitoring Devices
- Insulin Delivery Devices
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Diabetes Clinics/Centers
- Online Pharmacies
- Others
By End-Use
- Hospitals
- Homecare
- Diagnostics Centers
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and 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 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 Type Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Blood Glucose Monitoring Devices
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Insulin Delivery Devices
5.3.1 Market Size & Forecast (Value & Volume)
6 Distribution Channel Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Hospital Pharmacies
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Retail Pharmacies
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Diabetes Clinics/Centers
6.4.1 Market Size & Forecast (Value & Volume)
6.5 Online Pharmacies
6.5.1 Market Size & Forecast (Value & Volume)
6.6 Others
6.6.1 Market Size & Forecast (Value & Volume)
7 Applications Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 Hospitals
7.2.1 Market Size & Forecast (Value & Volume)
7.3 Homecare
7.3.1 Market Size & Forecast (Value & Volume)
7.4 Diagnostics Centers
7.4.1 Market Size & Forecast (Value & Volume)
8 Regional Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 North America
8.2.1 Economic Overview
8.2.2 Market Scenario
8.2.3 U.S.
8.2.4 Canada
8.2.5 Mexico
8.3 Central and South America and the Caribbean
8.3.1 Economic Overview
8.3.2 Market Scenario
8.3.3 Brazil
8.3.4 Argentina
8.3.5 Colombia
8.3.6 Rest of Central and South America and the Caribbean
8.4 Europe
8.4.1 Economic Overview
8.4.2 Market Scenario
8.4.3 Germany
8.4.4 France
8.4.5 The U.K.
8.4.6 Italy
8.4.7 The Rest Of Europe
8.5 Asia-Pacific (APAC)
8.5.1 Economic Overview
8.5.2 Market Scenario
8.5.3 China
8.5.4 Japan
8.5.5 India
8.5.6 Australia
8.5.7 South Korea
8.5.8 Rest Of APAC
8.6 Middle East
8.6.1 Economic Overview
8.6.2 Market Scenario
8.6.3 South Arabia
8.6.4 The UAE
8.6.5 Qatar
8.6.6 Oman
8.6.7 Turkey
8.6.8 The Rest Of Middle East
8.7 Africa
8.7.1 Economic Overview
8.7.2 Market Scenario
8.7.3 Nigeria
8.7.4 South Africa
8.7.5 The Rest Of Africa
9 Competitive Landscape — Manufacturers & Suppliers
9.1 Competition Dashboard
9.2 Industry Structure
9.3 Medtronic
9.3.1 Business Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Portfolio
9.4 Abbott
9.5 Ascensia Diabetes Care Holdings AG
9.6 Dexcom Inc.
9.7 Hoffmann-La Roche Ltd.
9.8 Sanofi
9.9 Novo Nordisk A/S
9.10 Insulet Corporation
9.11 Ypsomed
9.12 Valeritas Inc
10 Conclusion & Recommendation
11 Acronyms & Abbreviation
Table of Content and Figure @ https://straitsresearch.com/report/diabetes-devices-market/toc
Market News
- In November 2020, Novo Nordisk purchased Emisphere Technologies, a drug delivery technology company. Novo Nordisk will acquire a competitive edge in the oral antidiabetic market due to the acquisition.
- In November 2020, in Europe and the United States, Eli Lilly committed to commercializing Ypsomed Insulin Pumps with CGM devices.
News Media
United We Stand: How Nations Are Coping with The Pandemic
How Wearable Devices are Changing Healthcare, 21% of People in the US Regularly Wear a smartwatch
Coronavirus Crisis - Impact Of COVID-19 On Healthcare Industry
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