Diabetes Care Devices Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on 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]; End-User (Patients/Homecare, Hospitals & Clinics); Region/Country
Diabetes Care Devices Market is expected to grow at a CAGR of around 6% over the forecast period (2021-2027). The rise of this market is fueled by a growing diabetic population, obesity, and a sedentary lifestyle. Furthermore, advancements in human insulin delivery systems, innovations in insulin delivery system techniques, and healthy reimbursement policies, as well as rising awareness among the population about diabetes control and accessibility to insulin delivery systems, are all factors ensuring the market’s growth.
Several government organizations are focusing on boosting the existing infrastructure for overall healthcare system development. Among the countries worldwide, the United States had the highest percentage of gross domestic product spent on health care in 2019. The U.S. spent nearly 17% of its GDP on health care services. Germany, Switzerland, and France followed the U.S. with distinctly smaller percentages. The United States had both significantly higher private and public spending on health compared with other developed countries.
The number of people with diabetes is increasing due to population growth, aging, urbanization, and increasing prevalence of obesity and physical inactivity. 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.
Worldwide Prevalence of Overweight in Adults, (%), By Country
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.
Insights Presented in the Report
“Amongst Type, Insulin Pens segment dominated the market in 2020”
Based on Type, the market is segmented into 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. The Monitoring Devices segment leads the Diabetes Care Devices Market. Insulin pens are growing in popularity, and many people with diabetes nowadays use home-based glucose monitoring devices to keep check on their diabetes readings.
“Amongst End-User, Patients/Homecare segment dominated the market in 2020.”
Based on End-User, the Diabetes Care 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. The growth of this segment can be attributed to the increasing diabetic population and rising healthcare expenditure.
“North America represents as the largest market.”
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. Asia-Pacific dominated the market in 2020. North America dominated the market. The rising prevalence of diabetes and favorable reimbursement scenario in the United States and Canada, growing venture capital investments and IPOs in the United States, and FDA approvals to increase the commercial availability of insulin delivery devices in the United States all contribute to this region’s large share.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Diabetes Care Devices Market|
|2.2.||Research Methodology of the Diabetes Care Devices Market|
|2.5.||Main Objective of the Diabetes Care Devices Market Study|
|5||DIABETES CARE DEVICES MARKET COVID-19 IMPACT|
|6||DIABETES CARE DEVICES MARKET REVENUE, 2019-2027F|
|7.1.1.||Self-monitoring Blood Glucose|
|7.1.2.||Continuous Glucose Monitoring|
|188.8.131.52.||Insulin Pump Device|
|184.108.40.206.||Insulin Pump Reservoir|
|8.2.||Hospitals & Clinics|
|9.1.||NORTH AMERICA DIABETES CARE DEVICES MARKET|
|9.1.3.||Rest of North America|
|9.2.||EUROPE DIABETES CARE DEVICES MARKET|
|9.2.6.||Rest of Europe|
|9.3.||ASIA-PACIFIC DIABETES CARE DEVICES MARKET|
|9.3.5.||Rest of Asia Pacific|
|9.4.||REST OF WORLD DIABETES CARE DEVICES MARKET|
|11||DIABETES CARE DEVICES MARKET OPPORTUNITIES|
|12||DIABETES CARE DEVICES MARKET TRENDS|
|13||DIABETES CARE DEVICES & REGULATORY FRAMEWORK|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Company Shares, By Revenue|
|17.3.||F. Hoffmann-La Roche AG|
|17.4.||Novo Nordisk A/S|
|17.5.||Johnson & Johnson|
|17.7.||Becton, Dickinson and Company|
|17.8.||Tandem Diabetes are, Inc.|
|17.9.||Ascensia Diabetes Care Holdings AG|
|17.10.||B. Braun Melsungen AG|
Analyzing the historical market, estimation of the current market, and forecasting the future of the Diabetes Care Devices Market were the three major steps undertaken to create and analyze the adoption of Diabetes Care Devices across various regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of Diabetes Care Devices through company internal sources such as annual report & financial statements, investor presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Diabetes Care Devices, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by type and end-user. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Diabetes Care Devices Market in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as technological advancements in glucose monitoring & insulin delivery devices, growing diabetic population, and rising awareness about insulin delivery devices, etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$)
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Diabetes Care Devices Market in terms of products & services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of Diabetes Care Devices Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and end-user for the major country/region globally.
The main objective of the Diabetes Care Devices Market Study
The current & future market trends of Diabetes Care Devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Diabetes Care Devices in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include Type and End-User
- Analyze the current and forecast market size of the Diabetes Care Devices for the major regions & countries
- Major regions studied in the report include North America (United States, 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), and Rest of World
- Company profiles of the Diabetes Care Devices Market players and the growth strategies adopted by them to sustain in the fast-growing market
- Deep dive regional & country level analysis of the industry