North America Diabetes Devices Market Size, Share & Trends Analysis Report 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) and By Country(US, Canada) Forecasts, 2022-2030

Market Overview

During the projected period, the North America Diabetes Devices Market is expected to increase at a CAGR of 6.2 %, reaching a total value of 18,585 million USD in 2030.

Diabetes is a condition in which the pancreas is unable to produce insulin from serum. Untreated diabetes is caused by increased blood sugar levels. Diabetes medications are used in particular for diabetes diagnosis. The goal of diabetes treatment is to increase glucose levels in the body. Diabetes care gadgets are used to keep track of a diabetic's blood glucose levels. A continuous glucose monitor (CGM) is a medical gadget that continuously tracks and monitors a diabetic patient's blood glucose levels throughout the day. People with diabetes will benefit from this wearable device since it can help them manage their glucose levels. Ketone monitors, blood glucose monitors, continuous glucose monitors, insulin pumps, smart insulin pens, and diabetes management applications are all examples of diabetic monitoring devices. Glucose monitoring devices aid in the maintenance and control of glucose levels, hence enhancing the patient's health.

The expanding diabetic population drives the growth of the diabetic device industry. Diabetes has become much more common in the North American region in recent years.

Market Dynamics

Market driving factors

• Diabetes sufferers are becoming more common: The rise in the prevalence of diabetes patients is likely to promote the growth of the North American diabetes care devices market in the forecast period. With the changing lifestyles and food habits of the people, it has been observed that more and more patients of diabetes are identified in North America and this has increased the demand for diabetic care devices in the region and the trend is expected to remain the same in future.

• Product Improvements and Technological Innovations: Demand for these devices is being driven by the introduction of high-end insulin pumps and pens, as well as technological developments in diabetic equipment. Leading manufacturers are focusing on technological advancements and the development of innovative goods in order to gain a major share of the market. Novo Nordisk, for example, released the NovoPen Echo, a new instrument on the market, in January 2014. This is the first gadget of its sort in the United States, with features such as memory and half-unit dosing. In August 2016, Medtronic introduced the MiniMed 630G system in the United States, an integrated insulin pump with continuous glucose monitoring (CGM) technology that enables better glucose management than numerous injections without producing hypoglycaemia. As a result, the market expansion is expected to be fuelled by technological advances and product improvements.

Market restraining factors

• Adverse effects associated: Diabetic care devices for blood glucose monitoring and insulin administration are used in a variety of settings, including patient homes, assisted living facilities, community centres, and hospitals, to manage and treat diabetes. These intrusive devices leave a diabetic patient with a small open wound that could become infected or aid in the transmission of blood-borne pathogens. Because diabetes has such a high morbidity and mortality rate, it's crucial to look at problems related to diabetes care. Infections have occurred in the past, either through pathogen transfer or direct inoculation of the prick site.

• Regulatory Policies and Regulations that are Strict: Insulin pens and pumps are diabetes devices that have various disadvantages. As a result, regulatory authorities in many countries must identify potential dangers before certifying a product for commercialization. Insulin pumps are typically used to treat type 1 diabetes, although they can have side effects such as pump failure, insulin stability difficulties, and infusion site issues. As a result, the American Diabetes Association (ADA) has worked to evaluate the safety of devices before they are licenced for sale. As a result, before selling these insulin pumps, manufacturers must submit a premarket notification. This premarket notification must meet regulatory standards and establish the safety of utilising these items in order to gain market approval. As a result, the total market growth is projected to be hampered by rigorous political and regulatory processes for diabetic devices.

Key market opportunities

• Diabetic Population on the Rise in North America: 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. According to the AACE (American Association of Clinical Endocrinologists), recent research has found that 22.20% to 26.90% of people hospitalized for 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% 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.

Regional Analysis

Diabetes devices are predicted to be the most popular in North America. The region will be propelled forward by rising obesity rates, high treatment costs, technological breakthroughs, and new product releases. Due to the enormous number of diabetes and the lucrative reimbursement rules, the United States will most certainly dominate the North American market. High per capita income and increased healthcare spending, among other factors, are driving the industry. Furthermore, smart devices and technical advances like AI and data analytics are expected to boost the industry forward.

In recent years, the prevalence of diabetes in the North American region has risen dramatically. Diabetes is at an all-time high in wealthy countries like the United States and Canada, owing primarily to lifestyle changes. In industrialised countries like the United States and Canada, the insulin jet injector is very popular. These jet injectors are thought to be the insulin delivery system of the future. By 2026, the type-1 diabetes population in Canada is predicted to grow at a rate of 1.5%. The number of people using glucometers will rise as the number of people with type 1 diabetes rises. Type-1 diabetes will affect 340 thousand of people in 2026, according to estimates. Because of provincial government programmes across Canada, home use of test strips is also expanding. They set quantity limitations for blood glucose test strips (BGTS) to encourage good testing methods and improve patient outcomes.

Given that self-reporting typically underestimates incidence by at least 50%, there could be as many as 1.7 million diabetics in Mexico, with a prevalence of around 6% in the 30–64-year-old age group and it can be inferenced form this that diabetic care devices demand will grow in Mexico as patients are rising continuously.

Segmental Analysis

The North America Diabetes Devices Market share has been classified based on the type, distribution channel, and application.

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/centres, 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 centres based on application. The hospital 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 hyperglycaemia. 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.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

• The US Food and Drug Administration has authorised Medtronic's MiniMedTM 770G hybrid closed-loop system (FDA). SmartGuardTM technology, which is also present in the MiniMedTM 670G system, smartphone connection, and age indication for children as young as two years old are all included in this insulin pump system.

• 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.

• The iLet Prosthetic Pancreas System, developed by Beta Bionics, is the world's first completely automated bionic pancreas. Recently, the FDA designated it as a Breakthrough Device.