The diabetes care devices (or) equipment consists of sales of diabetes care devices and related services by entities (organizations, sole traders and partnerships) that produce diabetes care devices used to monitor blood glucose levels in diabetic patients. This industry includes establishments that produce blood glucose test strips used to check blood glucose levels, Insulin Pens, Syringes, pumps and Injectors used to inject insulin, continuous glucose monitoring devices, blood glucose meters and others.
The global diabetes care devices market is expected to grow from $35.2 billion in 2019 to $37.3 billion in 2020 at a compound annual growth rate (CAGR) of 5.9%. The growth is mainly due to the COVID-19 outbreak as people with diabetes are at increased risk of serious illness from COVID-19. The diabetic care devices are increasingly being used by care providers and patients (self-monitor) to frequently check the blood glucose levels. FDA issued guidance to expand the availability and capability of non-invasive remote monitoring devices including continuous glucose monitors (CGM) during the COVID-19 pandemic. However, the growth is not as significant as expected due to the demand and supply gaps. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $47.3 billion in 2023. North America was the largest region in the global diabetes care devices market, accounting for 48% of the market in 2019. Western Europe was the second largest region accounting for 19% of the global diabetes care devices market. Africa was the smallest region in the global diabetes care devices market. The artificial pancreas is a system that measures blood glucose levels on a minute-to-minute basis using a continuous glucose monitor (CGM), and transmits this information to an insulin pump that calculates and releases the required amount of insulin into the body. It consists of three essential components – a glucose sensor system, a control algorithm, and an insulin infusion device. This system is more effective than conventional insulin delivery devices as it automates insulin dosing based on blood sugar levels. Key companies in this industry are focusing on developing such systems. Medtronic recently gained US FDA approval for its artificial pancreas system, MiniMed 670G
The major players in the global diabetes care devices market are Roche, Medtronic, J&J, Abbott, Becton, Dickinson and Company
The countries covered in the global diabetes care devices market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The global diabetes care devices market 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 End User, Hospitals And Clinics, Diagnostic Laboratories, Others
3) By Type of Expenditure, Public, Private
4) By Product, Instruments/Equipment, Disposables Subsegments Covered, Glucose Dehydrogenase, Glucose Oxidase, Pens, Injectors And Pumps, Syringes
