Diabetes Devices Market growth, business opportunities, share value, key insights and size estimation by 2031

Global Diabetes Devices Market report from Global Insight Services is the single authoritative source of intelligence on Diabetes Devices Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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The global diabetes devices market was valued at USD 1.7 billion in 2021 and it is anticipated to grow up to USD 8.0 billion by 2031 at a CAGR of 16.7% during the forecast period.

Diabetes is a disorder that occurs when the blood glucose levels rise over normal levels, due to a defect in insulin production that controls glucose levels. Blood glucose acts as the main source of energy and can be obtained from the food we consume. Insulin, the pancreatic hormone maintains blood glucose levels. Defect in the synthesis of insulin in the body cannot regulate the blood glucose level and causes diabetes. The Blood glucose level range in a normal individual is 70 - 100 mg/dL and in a diabetic patient it raises up to 80 - 130 mg/dL. Diabetes care devices are employed to monitor the glucose levels of a diabetic patient. A continuous glucose monitor (CGM) is a medical device that tracks and monitors the blood glucose of a diabetic patient during the day.

Global Diabetes Devices Market Scope and Report Structure

Market Trends and Drivers

The key factors such as an increase in the incidence of diabetes owing to aging, obesity, and unhealthy lifestyle is one of the factors contributing to the growth of the market. Obesity is a major factor leading to diabetes. According to WHO, in 2016, over 1.9 billion adults were overweight, of which, around 650 million people were obese. Risk factors, like obesity and overweight, are leading to a rise in the incidence of diabetes. Owing to that, risk factors like smoking, overweight, obesity, and high cholesterol levels are anticipated to boost the prevalence of diabetes, so fueling the need for diabetes devices.

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Market Segments

By Type

Blood glucose monitoring systems
Self-monitoring blood glucose monitoring systems
Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing devices
Insulin delivery devices
Insulin pumps
Insulin pens
Insulin syringes and needles
Diabetes management mobile applications

By End User

Hospitals & Specialty Clinics
Self & Home Care
Major Players in Diabetes Devices Market

The key players in the diabetes devices market are Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc. (US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Ascensia Diabetes Care Holdings AS (Switzerland), LifeScan (US), AgaMatrix Holdings LLC (US), Acon Laboratories, Inc. (US), ARKRAY USA, Inc. (US), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo Corporation (Japan), SD Biosensor, Inc. (South Korea), MicroGene Diagnostic Systems Pvt. Ltd. (India), Ypsomed (Switzerland), Dr. Morepen (India), Sinocare, Inc. (China), Bionime Corporation (Taiwan), and Rossmax International Ltd. (Taiwan).

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COVID-19 Impact

The current COVID-19 pandemic has resulted in a massive number of patients visiting healthcare facilities on a day-to-day basis. As of December 2020, 63.8 million cases of COVID-19 have been reported across Africa, Asia Pacific, the Americas, Europe, and Oceania. The virus has resulted in approximately 1.5 million deaths. With the COVID-19 pandemic, most countries, comprising the whole of Europe, the US, India, and Australia, among others, are following complete nationwide lockdowns. This also affected the supply chain for diabetes devices. Due to the COVID-19 outbreak, the number of patients visiting physicians across the world had lowered. Still, this is expected to change during the forecast period and the demand for diabetes devices is anticipated to return to its pre-COVID demand phase.

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This release was published on openPR.