What is Global Diabetes Care Devices Market?
The Global Diabetes Care Devices Market is a comprehensive study of the various devices used in the management and treatment of diabetes worldwide. This market encompasses a wide range of devices, including blood glucose meters, blood glucose test strips, insulin pumps, insulin syringes, and other related products. These devices are essential for monitoring and controlling blood glucose levels in individuals with diabetes, a chronic disease that affects millions of people globally. The market's value was estimated at US$ 24440 million in 2022, and it is projected to grow to US$ 34300 million by 2029, with a compound annual growth rate (CAGR) of 4.9% from 2023 to 2029. This growth is driven by the increasing prevalence of diabetes, advancements in diabetes care technology, and the growing awareness about the disease and its management. However, the market is also faced with several challenges, such as the high cost of diabetes care devices and the lack of access to these devices in low- and middle-income countries. Despite these challenges, the market presents several opportunities for growth, particularly in the development of innovative and cost-effective diabetes care devices.
Blood Glucose Meters, Blood Glucose Test Strips, Insulin Pumps, Insulin Syringes, Others in the Global Diabetes Care Devices Market:
The Global Diabetes Care Devices Market is segmented based on the type of device. These include blood glucose meters, blood glucose test strips, insulin pumps, insulin syringes, and others. Blood glucose meters are handheld devices used to measure the amount of glucose in the blood. They are essential for individuals with diabetes who need to monitor their blood glucose levels regularly. Blood glucose test strips are used in conjunction with blood glucose meters. They are coated with a chemical that reacts with glucose in the blood, providing a reading of the blood glucose level. Insulin pumps are devices that deliver insulin to the body in a continuous and controlled manner. They are often used by individuals with type 1 diabetes who require a steady supply of insulin throughout the day. Insulin syringes are used to inject insulin into the body. They are commonly used by individuals with type 2 diabetes who need to take insulin injections. Other devices in the market include insulin pens, continuous glucose monitoring systems, and insulin jet injectors. These devices play a crucial role in the management of diabetes, helping individuals maintain their blood glucose levels within the target range and prevent complications associated with the disease.
Medical Care, Personal Care in the Global Diabetes Care Devices Market:
The Global Diabetes Care Devices Market finds its application in two main areas: medical care and personal care. In the medical care setting, these devices are used by healthcare professionals to monitor and manage the blood glucose levels of their patients with diabetes. They are essential tools in hospitals, clinics, and other healthcare facilities, helping doctors and nurses provide effective and timely treatment to their patients. In the personal care setting, these devices are used by individuals with diabetes to monitor and manage their blood glucose levels at home. They are particularly useful for individuals who need to check their blood glucose levels several times a day, such as those with type 1 diabetes or those with type 2 diabetes who are on insulin therapy. The use of these devices in personal care is growing, driven by the increasing prevalence of diabetes and the growing awareness about the importance of regular blood glucose monitoring in the management of the disease.
Global Diabetes Care Devices Market Outlook:
The future outlook of the Global Diabetes Care Devices Market is promising. In 2022, the market was valued at US$ 24440 million, and it is expected to reach US$ 34300 million by 2029, growing at a CAGR of 4.9% during the forecast period from 2023 to 2029. This growth is driven by several factors, including the increasing prevalence of diabetes, advancements in diabetes care technology, and the growing awareness about the disease and its management. The market is dominated by the top 3 players, who hold about 30% of the global market shares. The key application of these devices is in personal care, which accounts for about 85% of the market. This highlights the growing trend of self-monitoring of blood glucose levels, particularly among individuals with diabetes who need to check their blood glucose levels regularly.
| Report Metric | Details |
| Report Name | Diabetes Care Devices Market |
| Accounted market size in 2022 | US$ 24440 in million |
| Forecasted market size in 2029 | US$ 34300 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Roche, Medtronic plc, J&J, Abbott, Ascensia Diabetes Care, BD, Dexcom, ARKRAY Inc, B. Braun, Terumo Corporation, Ypsomed, Sannuo, Sanofi, I-sens |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
