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Diabetes Devices Market: Information by Type (Blood Glucose Monitoring, Insulin Delivery Devices), Distribution Channel (Hospital), End-Use (Hospitals), and Region — Forecast till 2030

Market Snapshot
Study Period:
2020-2030
Base Year:
2021
Fastest Growing Market:
Europe
Largest Market:
North America
CAGR:
6.62 %
Key Players
Medtronic

Abbott

Ascensia Diabetes Care Holdings AG

Dexcom Inc

Hoffmann-La Roche Ltd

Sanofi

The global diabetes devices market size was valued at USD 27,662.11 million in 2021 and is expected to reach the valuation of USD 49,253.08 million by 2030. The market is expected to grow at a CAGR of 6.62% during the forecast period (2022–2030). Diabetes mellitus, sometimes known as diabetes, is a series of metabolic conditions defined by a persistently high blood sugar level. Frequent urination, increased thirst, and increased appetite are common symptoms. Diabetes, if left untreated, can lead to a slew of health issues. Diabetic ketoacidosis, hyperosmolar hyperglycemia, and mortality are all examples of acute complications. Cardiovascular disease, stroke, chronic renal disease, foot ulcers, nerve damage, eye damage, and cognitive impairment are serious long-term consequences.

There are three primary forms of diabetes: Type 1 diabetes, Type 2 diabetes, and Gestational diabetes. Thus, the devices used to monitor diabetic conditions of patients are called diabetes devices or diabetes care devices.

Market Dynamics

Drivers: Growing Focus on Diabetes Care

The use of diabetic devices is anticipated to grow due to the growing number of initiatives being conducted by governments and charity groups to raise diabetes awareness. The Ministry of Health and Family Welfare, the WHO Country Office for India, and other partners, for example, have established mDiabetes, a mobile health program. This public health effort aims to raise awareness about diabetes early detection and treatment. Similarly, WHO and IDF collaborate to prevent and control diabetes while also ensuring a high quality of life for individuals worldwide.

For example, the WHO Diabetes Program aims to prevent type 2 diabetes, reduce complications, and improve diabetes patients' quality of life. To increase diabetes prevention and control, NGOs and governments are developing norms and standards, raising knowledge about diabetes prevention, and supporting surveillance. As a result, the growing number of diabetes awareness initiatives is likely to contribute to diabetes diagnosis, hence increasing the usage of diabetic devices.

Drivers: Technological Innovations and Product Advancements

The launch of high-end insulin pumps and pens and technological advancements in diabetic devices are driving demand for these devices. To capture a significant portion of the market, leading manufacturers are focused on technological advances and the creation of innovative products. In January 2014, Novo Nordisk, for example, introduced the NovoPen Echo, a new instrument in the market.

This is the first-of-its-kind device in the United States, featuring capabilities like memory and half-unit dosing. Also, Medtronic launched their MiniMed 630G system in the United States in August 2016, an integrated insulin pump with CGM technology that provides better glucose management than many injections without causing hypoglycemia. As a result, technical developments and product advancements are predicted to drive market growth.

Restraints: Stringent Regulatory Policies and Regulations

Insulin pens and insulin pumps are diabetes devices that come with some drawbacks. As a result, before certifying a product for commercialization, regulatory organizations in various nations must identify potential dangers. Insulin pumps are primarily used to treat type 1 diabetes, although they can cause complications such as pump failure, insulin stability concerns, and infusion site issues.

As a result, the European Association for the Study of Diabetes (EASD) and the American Diabetes Association (ADA) will collaborate to assess device safety before they are approved for sale. Insulin pumps are Class IIb devices in the European Union (EU). As a result, manufacturers must submit a premarket notification before marketing these insulin pumps. To obtain market approval, this premarket notification must meet regulatory standards and demonstrate the safety associated with using these products.

As a result, strict political and regulatory processes for diabetic devices are likely to impede the overall market growth.

What Are Future Key Opportunities in Diabetes Devices Market?

Untapped Opportunities in Developing Economies

The number of individuals living with diabetes is rising in regions like MEA and APAC, driving up the demand for diabetes treatment. According to the International Diabetes Federation, by 2030, the overall number of diabetics is expected to reach 643 million, and by 2045, it will reach 783 million. As a result, untapped growth prospects in the quickly emerging Middle East and Africa and Asian economies and rising diabetes awareness in these regions are expected to enhance demand for diabetic devices.

A large senior population, economical healthcare facilities, low labor costs, and less stringent regulatory laws drive diabetic device makers to expand their operations. As a result, manufacturers focus on maximizing market share by tapping prospects in developing economies.

Emerging Market Trends

Heaving Diabetics Population Globally

Diabetes and its consequences are expected to register around 4 million deaths in a person aged 20 to 79 in 2020. This equates to one death every eight minutes. Diabetes is responsible for 11.30% of all fatalities among adults in this age range worldwide. According to the AACE (American Association of Clinical Endocrinologists), recent research has found that 22.20% to 26.90% of people hospitalized for the severe condition have diabetes. In hospitalized Coronavirus patients, diabetes and high glucose levels are linked to increased complications, respiratory failure, and fatality.

Diabetes is linked to a slew of health problems. When persons with diabetes are compared to people who do not have diabetes, those with diabetes have a 300 percent higher risk of being hospitalized and, as a result, have higher healthcare costs. Because of their young age and longer diabetes duration, children and teenagers are more likely to develop diabetes earlier, lowering their quality of life, shortening their life expectancy, and increasing healthcare expenditures.

As a result, diabetes is likely to become more common over time. There is also fear that, as a result of contemporary lifestyle and technology improvements, diabetes may be happening at a higher rate in youth and young adults, increasing the usage of diabetes care devices. ​

Impact of COVID-19 On Diabetes Devices Market

Impact of Covid-19 On Market

The COVID-19 outbreak posed a unique challenge to healthcare delivery, with significant implications for diabetic care. Lockdown of routine outpatient clinics, reduced inpatient capacity, personnel shortages, medicine shortages, overpriced medicine, delayed care-seeking, limited self-care practice, transportation challenges, and undetected cases/events have all put pressure on diabetes treatment. On the other hand, diabetes device sales have increased due to consumers' regular monitoring of their diabetic status to avoid becoming infected with the COVID-19 virus, which is particularly susceptible to diabetics.

Due to strict supply chain restrictions during the 1st phase of the pandemic, the diabetes devices market growth was hampered.

Market Recovery Timeline and its Challenges

The post-pandemic period will be crucial for the global diabetes devices market. The recovery can be hindered by manufacturing operations, which will affect the market dynamics and product prices. Also, limited production, support operations, labor shortages, and many constraints for other end-user sectors, suppliers, and vendors may fail to meet the consumer demand. Overall, the recovery will be challenging for the global diabetes devices market.

Segmental Insights

The global diabetes devices market share has been classified based on the type, distribution channel, end-use, and regions.

The diabetes devices market has been segmented into blood glucose monitoring devices and insulin delivery devices based on type. The insulin delivery devices segment is expected to dominate the market, and it is projected to reach USD 30,412.19 million by 2030, registering a CAGR of 7.62% during the forecast period.

Some of the primary driving reasons for the demand for insulin delivery devices are the rising number of regulations and approvals for technological advances in insulin delivery devices such as insulin pens, insulin pumps, jet injectors, and other devices. One of the factors driving the demand of insulin delivery devices is the increasing acceptance of insulin patches and smart insulin pumps for the self-management of diabetes.

The diabetes devices market has been segmented into hospitals, retail pharmacies, diabetes clinics/centers, online pharmacies, and others based on the distribution channel. The retail pharmacies segment is expected to dominate the market, and it is projected to reach USD 11,491.59 million by 2030, at a CAGR of 6.92% during the forecast. Rising penetration of private-label brands in retail outlets at discounted costs is some of the factors likely to drive the growth of the retail sales segment over the forecast period.

The diabetes devices market has been segmented into hospitals, home care, and diagnostic centers based on end-use. The hospitals segment is expected to dominate the market, and it is projected to reach USD 19,845.68 million by 2030, at a CAGR of 6.42% during the forecast period. An increase in diabetic patients is driving hospital admission.

According to the American Diabetes Association, type 1 diabetes affects roughly 3 million children and adults in the United States. Compared to type 2 diabetes patients, type 1 diabetes patients experience more extended hospital stays and a greater mortality rate and complications. Patients with type 1 diabetes are given insulin to prevent ketoacidosis and have a greater rate of hyperglycemia.

Thus, an increase in the number of type 1 diabetes patients in hospitals and a rise in the demand for continuous blood glucose monitoring are two variables driving up hospital demand.

Regional Insights

Supremacy of North America Over Others

The global diabetes devices market share has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

With an expected market value of USD 18,943.58 million by 2030, at a CAGR of 6.28%, North America is expected to be the largest market for diabetes devices. Obesity's rising prevalence, expensive treatment costs, technology breakthroughs, and new product launches will drive the region forward.

The United States will likely dominate the North America market because of the high number of diabetics and the attractive reimbursement policies. The market is being driven by high per capita income and rising healthcare spending, among other things. Furthermore, the market is likely to be propelled by smart devices and technological breakthroughs such as the usage of AI and data analytics.

With a market value of USD 15,281.94 million by 2030, at a CAGR of 6.35%, Europe is expected to be the second-largest market for diabetes devices. Over the forecast period, factors such as an increase in the number of diabetic patients and increased awareness about diabetes management and control are likely to contribute to the market growth.

Key Companies Covered

List of Top Diabetes Devices Market Manufacturers

  • Medtronic
  • Abbott
  • Ascensia Diabetes Care Holdings AG
  • Dexcom Inc.
  • Hoffmann-La Roche Ltd.
  • Sanofi
  • Novo Nordisk A/S
  • Insulet Corporation
  • Ypsomed
  • Valeritas Inc
ATTRIBUTES DETAILS
ESTIMATED YEAR 2022
BASE YEAR 2021
FORECAST YEAR 2030
HISTORICAL YEAR 2019-2020
UNIT Value (USD Million/Billion)
BY REGION North America, Europe, Asia-Pacific, Latin America, The Middle East and Africa

Recent Developments

  • November 2020- Emisphere Technologies, a medication delivery technology corporation, has been acquired by Novo Nordisk. Novo Nordisk will benefit from the acquisition by gaining a competitive advantage in the oral antidiabetic market.
  • November 2020- Eli Lilly has committed to commercializing Ypsomed Insulin Pumps with CGM devices in Europe and the United States.
  • September 2020- The MiniMedTM 770G hybrid closed loop system from Medtronic has been approved by the US Food and Drug Administration (FDA). This insulin pump system has the company's most advanced SmartGuardTM technology, which is also found in the MiniMedTM 670G system, smartphone connectivity, and age indication for children as young as two years old.
  • September 2020- Omnipod DASH, the business's revolutionary tubeless insulin pump technology, will be commercially accessible in European countries, according to the company (Sweden, Norway, Denmark, France, Belgium, Austria, Germany, Switzerland, & Israel). The product was previously offered in the United States, the United Kingdom, Italy, and the Netherlands.
  • June 2020- Tandem Diabetes Care and Abbott have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring (CGM) technology with Tandem's innovative insulin delivery systems to give diabetes more choices in how they manage their disease. ​
  • February 2019- Novo Nordisk and Abbott collaborated to create an integrated digital solution for insulin users. Insulin dose data collected by Novo Nordisk's prefilled linked pens would be easily incorporated into digital health solutions compatible with Abbott's FreeStyle Libre system.

Global Diabetes Devices Market: Segmentation

By Type

  • Blood Glucose Monitoring Devices
  • Insulin Delivery Devices

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Diabetes Clinics/Centers
  • Online Pharmacies
  • Others

By Application

  • Hospitals
  • Homecare
  • Diagnostics Centers

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Frequently Asked Questions (FAQs)

The market is anticipated to grow at a CAGR of 6.62% over the forecast period.
North America is expected to hold the highest market share.
The rising number of individuals living with diabetes creates a window of key opportunity in the market during the forecast period.
The global market is expected to reach USD 49,253.08 million by 2030
Medtronic, Abbott, Ascensia Diabetes Care Holdings AG, Dexcom Inc., and Hoffmann-La Roche Ltd are the top players in market.
Insulin delivery devices segment is expected to be leading segment in market during the forecast period.
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