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.
Report Metric | Details |
---|---|
Base Year | 2021 |
Study Period | 2020-2030 |
Forecast Period | 2023-2031 |
CAGR | 6.2% |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
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.
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.