Global Diabetes Devices Market Size, Top Key Players, Trends, Future Development & Forecast 2032

In 2021, the market for Diabetes Devices worldwide was worth $ 24.7 billion US dollars. AMR Group projects that the market will reach US$ 43.4 billion by 2031, growing at a CAGR of 7.8 percent between 2022 and 2031.
Diabetes is a condition that arises when blood glucose levels exceed normal levels due to a problem with the synthesis of insulin, which regulates glucose levels. Blood glucose, which is obtained from the food eaten, is the main source of energy. Insulin, a hormone produced by the pancreas, controls blood sugar levels. A defect in the body's capacity to create insulin, which prevents it from regulating blood glucose levels, is the cause of diabetes. Normal blood glucose levels vary from 70 to 100 mg/dL, however in diabetes patients, they can go up to 80 to 130 mg/dL. The glucose levels of a diabetic patient are monitored with diabetes care equipment. A continuous glucose monitor (CGM) is a medical gadget that continuously measures and monitors a diabetic patient's blood glucose levels. Those with diabetes may utilize this wearable technology to better control their blood sugar levels, making it very helpful for them. Blood glucose monitors, continuous glucose monitors, insulin pumps, smart insulin pens, and diabetes management software are a few examples of the various technologies that may track diabetic symptoms. The patient's health is improved by the use of glucose monitoring devices, which assist to maintain and manage glucose levels.
The youth are more likely to get diabetes early due to their younger ages and longer diabetes durations, which lowers their quality of life, reduces life expectancy, and raises healthcare expenditures. As a result, it is anticipated that the incidence of diabetes would rise over time. There is also fear that, as a result of the modern lifestyle and technology improvements, diabetes may be appearing more frequently in children and young people, boosting the usage of diabetes care devices.

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Market Segmentation
Based upon the Type in the Diabetes Devices market is segmented BGM Devices and Insulin Delivery Devices. The Type segment is dominated by Insulin Delivery with the highest revenue share from this segment in the Diabetes Devices market for 2021. In the worldwide diabetes devices market, insulin delivery devices are the category with the quickest rate of growth, accounting for about 56.9% of the market in 2021. The market has been divided into pens, pumps, syringes, and jet injectors based on the insulin delivery device. In 2021, pens had a greater market share for diabetic devices. Based on the Distribution Channel, the Diabetes Devices market is segmented into Hospital pharmacies, Retail Pharmacies, Diabetes Clinics/Centers Online Pharmacies and Others. Due to strong traffic and product availability, hospital pharmacies accounted for over 54.0% of market penetration in 2021. Inpatient and outpatient pharmacies are the two types of pharmacies that work on a hospital site. The hospital has an inpatient pharmacy that serves the operating rooms, intensive care units, inpatient wards, and special service sections but is only available to authorized staff.
End user segment of Diabetes Devices market is further bifurcated into Hospitals, Homecare and Diagnostic Centers. In 2021, the hospital segment held the biggest market share, with 40.9%. Demand for the category is rising as more diabetic people are being admitted to hospitals. Compared to individuals without diabetes, those with diabetes have a threefold increased risk of being hospitalized.
By Type
• BGM Devices
o Self-Monitoring Devices
Blood Glucose Meters
Testing Strips
Lancets
o Continuous Glucose Monitoring Devices
Sensors
Transmitters
Receiver
• Insulin Delivery Devices
o Pumps
o Pens
o Syringes
o Jet Injectors
By Distribution Channel
• Hospital pharmacies
• Retail Pharmacies
• Diabetes Clinics/Centers
• Online Pharmacies
• Others
By End User
• Hospitals
• Homecare
• Diagnostic Centers

Key Player:
Key players operating in the Diabetes Devices Market includes, Abbott Laboratories, ACON Laboratories, Inc., Arkray, Inc., B Braun Melsungen AG, Bayer AG, Becton, Dickinson and Company, Companion Medical, Dexcom Inc., F. Hoffmann-La Roche Ltd., Insulet Corporation, Johnson & Johnson, Lifescan, Inc., Medline Industries, Medtronic PLC, Nipro corporation, Novo Nordisk A/S, Sanofi, Terumo Corporation, Valeritas Holding Inc., and Ypsomed Holdings among others. The cooperation between Abbott, CamDiab, and Ypsomed to create and market an integrated automated insulin delivery (AID) system across European nations was announced in April 2022. The connected, intelligent wearable eliminates the need for guesswork in insulin delivery by continuously monitoring a person's blood sugar levels and automatically adjusting and delivering the right quantity of insulin at the right time.

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Regional Trend
Geographically, North America dominated the Diabetes Devices market, accounting with the growth rate of 6.5% of total revenue in 2022. owing to the rising prevalence of diabetes in North America as a result of stress, poor diets, and obesity. By 2027, there will be 34 million diabetes patients in North America, up from the current total of over 29 million. In 2021, there were more than 26 million diabetic patients in only the United States. The market for diabetic care devices in North America is dominated by the United States. The development of the diabetes care device market in this area is also aided by favorable government reimbursement policies and a sophisticated healthcare system. The United States' fast rising incidence and prevalence of diabetic patients, as well as healthcare spending, point to an increase in the use of diabetes care products.
Due to a rise in the prevalence of diabetes there as well as a sizable diabetic and pre-diabetic patient population, an increase in the strengthening of global product manufacturers' distribution networks, and a surge in the expansion of cutting-edge medical facilities in emerging nations like China and India, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Diabetes Devices market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Diabetes Devices would help in identifying future applications in this market.

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