Diabetes Care Devices Market Size is Surpassing USD 83.01 Billion by 2033, Growing at Projected 12.22% CAGR
The growing demand for non-invasive glucose monitoring devices, combined with rapid advancements in big data and artificial intelligence, is driving significant growth in the diabetes care devices market during the forecast period.
Newark, Aug. 08, 2024 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global diabetes care devices market is expected to grow from USD 26.21 billion in 2023 to USD 83.01 billion by 2033, at a CAGR of 12.22% during the forecast period 2024-2033. North American region emerged as the largest global diabetes care devices market, with a 48.19% market revenue share in 2023. The growing number of manufacturers and rise in demand for diabetes care devices are propelling the market’s growth in this region. Furthermore, the increasing adoption of insulin-delivery devices and the rising prevalence of diabetes are anticipated to drive market growth in this region. In addition, the Asia Pacific region is anticipated to show the fastest CAGR growth over the projection period due to the increasing number of people sorrowing from diabetes.
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Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 12.22% |
| 2033 Value Projection | USD 83.01 Billion |
| Market Size in 2023 | USD 26.21 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product Type, Delivery Type, Device Type, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Diabetes Care Devices Market Growth Drivers | The rising prevalence of diabetes |
Browse Detailed Summary of Research Report with TOC: https://www.thebrainyinsights.com/report/diabetes-care-devices-market-13561
Leading companies in the industry PHC Holdings Corporation, Abbott, Sanofi, WellDoc, Inc., Tidepool, B. Braun SE, Medtronic, Dexcom, Inc., F. Hoffmann-La Roche Ltd, DarioHealth Corp., Tandem Diabetes Care, Ascensia Diabetes Care Holdings AG, Insulet Corporation, LifeScan, Medtronic, DarioHealth, AgaMatrix, Home Diagnostics, Glooko Inc., which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The product type segment is divided into insulin delivery devices and blood glucose monitoring devices. The insulin delivery devices segment led the market with a market share of 54.28% in 2023. This growth is attributed to the surging number of diabetics due to obesity, ageing, and unhealthy lifestyles. The delivery type segment is divided into syringes, pumps, injectors, pen, cartridges in reusable pens, jet injectors, and disposable pens. The syringes segment led the market with a market share of 23.28% in 2023. This growth is attributed to the rising awareness about specialized syringes and the rise in biologics approvals. The device type segment is divided into diagnostic and self-monitoring. The self-monitoring segment led the market with a market share of 56.53% in 2023. This growth is attributed to the high awareness among consumers. The distribution channel segment is divided into retail sales, diabetes clinics/centers, hospital pharmacies, and online pharmacies. The online pharmacies segment led the market with a market share of 32.37% in 2023. This growth is attributed to online pharmacies’ rapid emergence and growing penetration.
The increasingly sedentary lifestyle, improper diet, and availability of alternative treatments are helping to drive the growth of the diabetes care devices market. Further, technological advancements and the rise in R&D activities are helping to stimulate the diabetes care devices market growth during the forecast period. Additionally, the growing awareness of diabetes care and the surge in diabetes-related health expenditures in emerging economies are also assisting in boosting market growth over the forecast period.
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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