Diabetes Care Devices Market is expected to foresee significant growth. North America leads the Market!

Diabetes Care Devices Market is expected to grow at a CAGR of around 6% over the forecast period (2021-2027). Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. Insulin is a hormone that regulates blood sugar. Hyperglycemia, or raised blood sugar, is a common effect of uncontrolled diabetes and over time leads to serious damage to many of the body’s systems, especially the nerves and blood vessels.

The prevalence of diabetes for all age-groups worldwide was estimated to be 2.8% in 2000 and 4.4% in 2030. The total number of people with diabetes is projected to rise from 171 million in 2000 to 366 million in 2030. The prevalence of diabetes is higher in men than women, but there are more women with diabetes than men. The urban population in developing countries is projected to double between 2000 and 2030.

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The rising diabetic population, obesity, and sedentary lifestyle are some of the major factors driving this market’s rise. In addition, advancements in human insulin delivery systems, innovations in insulin delivery system techniques, and healthy reimbursement policies, rising awareness among the population about diabetes control and accessibility to insulin delivery systems, and rising awareness among the population about diabetes control and accessibility to insulin delivery systems are all factors ensuring the growth of the diabetes care devices market in the forthcoming years.

In 2020, the coronavirus (COVID-19) pandemic showed unharmed impact on the growth of the diabetes care devices market. Manufacturers of these devices are growing their business in countries like China and India, which have big diabetic populations. Furthermore, insulin pens are becoming more technologically advanced to assist patients in better managing their diabetes. For instance: Medtronic launches first integrated smart insulin pen for diabetics in 2020, Medtronic’s InPen integrated with real-time Guardian Connect CGM data. InPen is the first and only FDA-cleared smart insulin pen on the market for people on multiple daily injections (MDI).

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Based on Type, the market is segmented into Monitoring Devices [Self-monitoring Blood Glucose (Glucometer Devices, Test Strips, Lancets), Continuous Glucose Monitoring (Sensors, Durables)], Management Devices (Insulin Pumps, Insulin Pump Device, Insulin Pump Reservoir), Infusion Set, Insulin Syringes, Insulin Cartridges, Disposable Pens, Jet Injectors. Based on End-User, the Insulin Delivery Devices market is segmented into Patients/Homecare and Hospitals & Clinics. The patients/homecare segment commanded the largest share of the diabetes care devices market and is expected to grow at the highest CAGR during the forecast period.

For a better understanding of the market adoption of diabetes care devices, the market is analyzed for the countries such as North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia- Pacific), & Rest of World. North America dominated the market in 2020.

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Some of the major players operating in the market include Medtronic, DexCom, Inc., F. Hoffmann-La Roche AG, Novo Nordisk A/S, Johnson & Johnson, Abbott Laboratories, Becton, Dickinson and Company, Tandem Diabetes are, Inc., Ascensia Diabetes Care Holdings AG, B. Braun Melsungen AG, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions

Diabetes Care Devices Market Segmentation

Market Insight, by Type

• Monitoring Devices
  • Self-monitoring Blood Glucose
    • Glucometer Devices
    • Test Strips
    • Lancets
  • Continuous Glucose Monitoring
    • Sensors
    • Durables
• Management Devices
  • Insulin Pumps
    • Insulin Pump Device
    • Insulin Pump Reservoir
    • Infusion Set
  • Insulin Syringes
  • Insulin Cartridges
  • Disposable Pens
  • Jet Injectors

Market Insight, by End-User

• Patients/Homecare
• Hospitals & Clinics

Market Insight, by Region

• North America Diabetes Care Devices Market
  • United States
  • Canada
  • Rest of North America
• Europe Diabetes Care Devices Market
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific Diabetes Care Devices Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World Diabetes Care Devices Market

Company Profiled

• Medtronic
• DexCom, Inc.
• F. Hoffmann-La Roche AG
• Novo Nordisk A/S
• Johnson & Johnson
• Abbott Laboratories
• Becton, Dickinson and Company
• Tandem Diabetes are, Inc.
• Ascensia Diabetes Care Holdings AG
• B. Braun Melsungen AG