Global Diabetes Care Devices Market Size 2024, Forecast To 2033

11 Mar, 2024

The diabetes care devices market has displayed strong growth, increasing from $64.27 billion in 2023 to $69.46 billion in 2024, indicating a compound annual growth rate (CAGR) of 8.1%. The growth in the historical period is attributed to the increasing prevalence of diabetes, economic growth, reforms in public health insurance, a growing geriatric population, and elevated healthcare expenditure. Projected for the forecasted period is sustained robust growth, reaching $93.2 billion in 2028 at a CAGR of 7.6%. Factors contributing to this growth include increased research and development investments, research collaborations, a rise in disease burden, government initiatives, and technological developments. Major trends in the forecast period involve stick-free glucose testing, glucose-responsive insulins (GRIs), artificial pancreas, a shift in traditional insulin syringes, and wearable and mobile glucose monitoring systems, along with intelligent glucose meters.

Global Diabetes Care Devices Market Key Driver

Anticipated growth in healthcare expenditures is expected to drive the diabetes care device market. Healthcare expenditures encompass the total spending on healthcare-related services, products, and activities within a specified period. The increasing healthcare expenditures, combined with improved access to healthcare services and a rising number of diabetes diagnoses, fuel investments in research and development, leading to advanced diabetes care devices. In May 2023, the Office for National Statistics reported a 9.4% increase in healthcare spending in the UK, with total healthcare expenditure reaching $367.25 billion (£280.7 billion) in 2021. This upward trend in healthcare spending is set to propel the diabetes care device market, with values projected at $X billion in 2023, $Y billion in 2024, and an estimated $Z billion in 2028.

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Global Diabetes Care Devices Market Segments

The diabetes care devices market covered in this report is segmented –
1) By Type: Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By Type Of Testing: Point Of Care (POC) Testing, Non-Point Of Care (POC) Testing
5) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments Covered: Glucose Dehydrogenase, Glucose Oxidase, Pens, Injectors And Pumps, Syringes
By Geography:The regions covered in the diabetes care devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa North America was the largest region in the global diabetes care devices market in 2023. Western Europe was the second largest region in the global diabetes care devices market. The regions covered in the diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Diabetes Care Devices Industry Players

Becton, Dickinson and Company, Novo Nordisk A/S, Roche Holding AG, Nipro Corporation, HTL-STREFA Inc., ARKRAY, Terumo Corporation, Owen Mumford, Ypsomed AG, Vogt Medical, Sanofi India, Biocon Ltd, Mehar healthcare, Johnson & Johnson, GE Healthcare, Covidien Healthcare, Philips Healthcare India, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell medical equipment & supply Co, Olympus Medical Systems, Hitachi Medico, Nihon Koden, Fukuda Denshi, Medtronic, Emperra GmbH E-Health, Novo Nordisk A/S, Insujet, Eli Lilly, Fresenius Medical Care, Siemens, Stryker, Teleflex Medical, LifeScan, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcom Inc., SocialDiabetes, Dottli, Themis Bioscience, Ok biotech, Acon Laboratories, Bayer AG, AgaMatrix.

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Diabetes Care Devices Market Overview

Diabetes care devices are used to monitor and control blood glucose levels in diabetic patients.

Diabetes Care Devices Global Market Report 2023 provides data on the global diabetes care devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The diabetes care devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.