Diabetes Devices Market Potential Growth, Share, Demand and Analysis of Key Players & Forecasts to 2032

Report Overview
The market for Diabetes Devices was estimated to be worth USD 26.7 billion in 2021, and from 2023 to 2032, it is anticipated to rise at a CAGR of 8.2%. The market is primarily driven by elements including a rise in the prevalence of obesity and technological improvements. Additionally, rising diabetes prevalence and expanding use of insulin delivery devices are propelling market expansion. To capture a sizeable portion of the market, top manufacturers are concentrating on technological advancements and the development of cutting-edge products. For instance, Novo Nordisk and Abbott worked together in 2019 to include their robust, prefilled linked pens directly into the FreeStyle Libre system (FreeStyle LibreLinkii mobile app and LibreViewiii cloud-based system).

Diabetic patients are becoming more prevalent in areas like MEA and APAC, which is driving up demand for diabetes treatment. For example, according to the International Diabetes Federation, India saw 72,946,400 new cases of diabetes in 2017. Thus, it is projected that the presence of unexplored growth potential in the rapidly expanding MEA and Asian countries, as well as the rising prevalence of diabetes in these areas, will increase demand for diabetic devices.

Diabetes Devices Market Introduction
Millions of individuals worldwide struggle with diabetes each year. Type 1 diabetes has emerged as one of the main global health issues of the past ten years. Numerous nations, including the United States, China, the United Kingdom, and Germany, have seen an increase in the incidence of type 1 diabetes. Both children and adults can develop type 1 diabetes, an autoimmune condition in which the pancreas stops making insulin. One of the primary healthcare issues is the rise in type 1 diabetes cases among children. IDF estimates that 140,000 children (0-14 years) in Europe had type 1 diabetes in 2015, and 21,600 new cases are identified each year. Patients with type 1 diabetes typically utilise insulin pens or insulin pumps. Compared to alternative insulin delivery systems, insulin pumps are more expensive. However, insulin pump usage is rising steadily in both industrialised and developing nations, per diabetic device industry trends.

Report Scope:
The primary and secondary research is done in order to access up-to-date government regulations, market information and industry data. Data were collected from the Diabetes Devices manufacturers, distributors, end users, industry associations, governments' industry bureaus, industry publications, industry experts, third party database, and our in-house databases. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment by type, application and region and as a result provides a holistic view of as well as a deep insight into the Diabetes Devices market covering all its essential aspects.

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Global Diabetes Devices Market: Segmentations

Global Diabetes Devices Market: By Key Players
Medtronic
Sanofi
Bayer
Becton
Dickinson and Company
Novo Nordisk
Abbott Laboratories
Roche
Lifescan
B. Braun
Dexcom
Ypsomed Holdings

Global Diabetes Devices Market: By Types
Blood Glucose Monitoring (BGM) Devices
Insulin Delivery Devices

Global Diabetes Devices Market: By Applications
Hospital
Personal Use
Clinic

Global Diabetes Devices Market: Regional Analysis
The countries covered in the regional analysis of the Global Diabetes Devices market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Impact of COVID-19 on the Diabetes Care Devices Market
The global market has suffered as a result of the COVID-19 epidemic. The pandemic caused stock market volatility, strict border controls, and nationwide lockdowns, all of which had an impact on different industries. Hospital resources, such as staff members and medical equipment, have been severely taxed by the pandemic. The market for diabetes devices has suffered as a result of difficulties in the supply chain for those devices. However, because diabetes is a chronic condition, governments have worked to keep a steady supply of diabetes equipment available. During the lockdown, many people worked from home, and many diabetic patients used remote monitoring equipment. People were more concerned with their diet in an effort to control their diabetes through proper dietary management. The market for diabetic gadgets was limited by these problems.

Frequently Asked Questions About This Report
• How big is the diabetes devices market?
• What is the diabetes devices market growth?
• Which segment accounted for the largest diabetes devices market share?
• Who are the key players in the diabetes devices market?
• What are the factors driving the diabetes devices market?

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