Diabetes Care Devices Market - Forecast(2022 - 2027)

Report Code: HCR 0574 Report Format: PDF + Excel

Diabetes Care Devices Market Overview

Diabetes Care Devices market size was estimated at $1.63 billion in 2020, growing at a CAGR of 16.32% during the forecast period 2021-2026. Diabetes care devices are used to monitor a diabetic patient's blood glucose level & Hyperosmolar hyperglycemic state (HHS) and to help distribute insulin to the patient's body. Poorly regulated blood sugars are more likely to be connected with severe diabetes, which can damage nerve cells in the brain and contribute to cognitive impairment. The blood glucose monitoring device and the insulin delivery device are the two primary types of diabetes care devices. Regular diabetes monitoring improves results and allows for real-time therapy adjustments. Inhalable insulin is another way for diabetics to keep their blood sugar under control. The increasing prevalence of diabetes coupled with growing awareness among people about diabetes treatment across the globe are the major factors driving the growth of the market. Increasing government funding for diabetes management is set to further enhance the overall market development of the Diabetes Care Devices Market for the period 2021-2026. 

Report Coverage

The report: “Diabetes Care Devices Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Diabetes Care Devices Market.
By Product Type: Blood Glucose Monitoring Device and Insulin Delivery Device
By End User: Hospitals & Clinics, Home care, and Diagnostic Centres.
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)

Key Takeaways

  • North America dominated the Diabetes Care Devices Market in 2020 owing to rising number of diabetic population in this region. The Diabetes Care Devices Market scope for different regions will be provided in the final report.
  • Increasing technological advancement in Diabetes Care Devices is set to aid the market growth of the Diabetes Care Devices Market report.
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the Diabetes Care Devices market will be provided in the report.
  • High price of Diabetes Care Devices is poised to create the hurdles for the Diabetes Care Devices Market.

Diabetes Care Devices Market Revenue Share, By Geography, 2020 (%)
Diabetes Care Devices Market
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Diabetes Care Devices Market Segment Analysis – By Product Type

Based on product type, the market for Diabetes Care Devices is segmented into Blood Glucose Monitoring Device and Insulin Delivery Device. Blood Glucose Monitoring Device held the largest share in the Diabetes Care Devices Market in 2020. The blood glucose monitoring device measures glucose levels accurately and alerts if glucose level drop too low or rise too high. Growing technological advancement of diabetes care devices in blood glucose monitoring devices which increasing Diabetes Care Devices market. However, Insulin Delivery Device is estimated to register a higher CAGR of 18.45% during the forecast period 2021-2026 owing to rising usage of insulin delivery device among health professionals and patients owing to its advantages such as excellent stability and technologically advanced qualities.  

Diabetes Care Devices Market Segment Analysis – By End User

On the basis of end-user, the market for Diabetes Care Devices is categorized in Hospitals & Clinics, Homecare, and Diagnostic Centres. Hospitals & Clinics held the largest share in the Diabetes Care Devices Market in 2020. An increasing number of diabetic people are being admitted to hospitals owing to it provide patients with the best care and diagnosis. The increasing improvement in healthcare infrastructure thereby increasing Diabetes Care Devices market. However, Homecare is estimated to register a higher CAGR of 19.65% during the forecast period 2021-2026 owing to the rising shift towards the use of diabetes care devices at home rather than going to clinics or healthcare centers for frequent health checks owing to its cost-effectiveness and user-friendliness.

Diabetes Care Devices Market Segment Analysis – By Geography

North America dominated the Diabetes Care Devices market with a major share of 40% in 2020. This is attributed to rising in diabetes patients is mostly owing to a rise in obesity among people, which is caused by poor diets and sedentary lifestyles in this region. According to the Centers for Disease Control and Prevention (CDC), in 2020 around 34.2 million people in America have diabetes. Furthermore, technological advancement and innovation in diabetes care devices by key players in this region which are contributing to the growth of the market in this region. 

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the rising elderly population in this region. Increasing usage of technologically advanced blood glucose devices and rising healthcare expenditure in this region is also increasing the growth of the market in this region. 

Diabetes Care Devices Market Drivers

Increasing Introduction of Novel, and Technological Advanced Products by Key Players

The increasing introduction of technologically advanced and novel products in diabetes monitoring systems across the globe is increasing the growth of the Diabetes Care Devices Market. For instance, in 2019, Tandem Diabetes Care Inc. received FDA approval to launch the world’s first interoperable insulin pump for administering insulin under the skin for children and adults with diabetes. : The Slim X2 insulin pump is the first device to be categorized using a new de novo premarket review procedure. Additionally, growing awareness about diabetes care devices among people is also predicted to increase the growth of the Diabetes Care Devices market during the forecast period 2021-2026. 

Increasing Prevalence of Diabetes across the Globe Owing to Sedentary Lifestyle

The increasing prevalence of diabetes across the globe owing to the rise in urbanization and sedentary lifestyle is increasing the growth of the Diabetes Care Devices market. According to, World Health Organization (WHO), diabetes affects around 422 million people globally, the majority of whom live in low- and middle-income countries and diabetes is directly responsible for 1.6 million deaths per year. The growing number of obesity cases among people is predicted to directly increase the number of people suffering from diabetes thereby, increasing the growth of the Diabetes Care Devices Market during the forecast period 2021-2026.

Diabetes Care Devices Market Challenges

High Price of Diabetes Care Devices and Issues with Reimbursement for New Technology

The major factor that is set to impede the growth of the Diabetes Care Devices market is the high price of Diabetes Care Devices. Another factor that hampers the growth of the market is reimbursement for new technology and limited access to healthcare services in developing countries.

Diabetes Care Devices Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Diabetes Care Devices Market. In 2020, the Diabetes Care Devices Market share is consolidated by the top ten players present in the market. In the Diabetes Care Devices Market, the top 10 companies are:
  1. Medtronic Plc.
  2. Roche Ltd.
  3. Abbott Laboratories
  4. Becton Dickinson and Company
  5. Dexcom Inc.
  6. Bayer Healthcare
  7. Ascensia Diabetes Care Holdings AG
  8. Sanofi AS
  9. Terumo Corporation
  10. Johnson & Johnson

Diabetes Care Devices Market Development: 

  • In February 2020, Insulet Corporation partnered with DexCom, Inc. to develop the Omnipod HorizonTM System for automated insulin delivery, which combines Dexcom's trusted tubeless insulin delivery Pod with current and future Dexcom continuous glucose monitoring systems (CGM).

Relevant Titles:

Report Code: HCR 0176

Report Code: HCR 0369

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1. Diabetes Care Devices Market - Overview
    1.1 Definitions and Scope
2. Diabetes Care Devices Market - Executive Summary
    2.1 Market Revenue and Key Trends
    2.2 Key trends by Product Type
    2.3 Key trends by End User
    2.4 Key trends by Geography
3. Diabetes Care Devices Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis- Average Selling Price
4. Diabetes Care Devices Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Diabetes Care Devices Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Diabetes Care Devices Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Diabetes Care Devices Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Diabetes Care Devices Market – By Product Type(Market Size –$Million/$Billion)
    8.1 Blood Glucose Monitoring Device
        8.1.1 Self-monitoring Blood Glucose Meters
            8.1.1.1 Glucometer Devices
            8.1.1.2 Test Strips
            8.1.1.3 Lancets
        8.1.2 Continuous Blood Glucose Monitoring Devices
            8.1.2.1 Sensors
            8.1.2.2 Durable
    8.2 Insulin Delivery Devices
        8.2.1 Insulin Pumps
        8.2.2 Insulin Syringes
        8.2.3 Insulin Pens
        8.2.4 Others
9. Diabetes Care Devices Market - By End User(Market Size –$Million/$Billion)
    9.1 Hospitals/Clinics
    9.2 Home Care
    9.3 Diagnostic Centres
10. Diabetes Care Devices Market - By Geography(Market Size –$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Mexico
        10.1.3 Canada
    10.2 Europe
        10.2.1 U.K.
        10.2.2 France
        10.2.3 Germany
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia Pacific
        10.3.1 China
        10.3.2 India
        10.3.3 Japan
        10.3.4 South Korea
        10.3.5 Australia & New Zealand
        10.3.6 Rest of APAC
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Others
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Diabetes Care Devices Market - Entropy
12. Diabetes Care Devices Market – Industry/Segment Competition Landscape Premium
    12.1 Market Share Analysis
        12.1.1 Global Market Share – Key Companies
        12.1.2 Market Share by Region – Key companies
        12.1.3 Market Share by Countries – Key Companies
        12.1.4 Competition Matrix
        12.1.5 Best Practices for Companies
13. Diabetes Care Devices Market – Key Company List by Country Premium Premium
14. Diabetes Care Devices Market Company Analysis Analysis(Company Revenue, Product, M&A, Developments)
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
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