Diabetes Care Devices Market Growth Global Industry Size, Recent Trends, Demand and Share Estimation

The global Diabetes Care Devices Market is expected to grow from US$ 28,942.1 million in 2022 to US$ 42,119.3 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2022 to 2028.

Rising incidence of diabetes and growing geriatric population are the key factors driving the market. However, the high cost of diabetes care devices is hampering the global diabetes care devices market growth

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Analysis of the Top Market Players:

1. BD
2. Novo Nordisk A/S
3. B. Braun Melsungen AG
4. Medtronic
5. Tandem Diabetes Care Inc.
6. Insulet Corporation
7. Eli Lilly and Company
8. DEXCOM, INC.
9. Terumo Corporation
10. F. HOFFMANN-LA ROCHE LTD.

In this report, the market has been segmented on the basis of:

Type (Glucose Monitoring Devices and Insulin Delivery Devices)
End User (Homecare and Hospitals & Clinics)

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Technological advancements in the healthcare industry are encouraging market players to focus on research and development of insulin delivery devices. There are various methods to deliver insulin into the human body, including needles, insulin pens, and insulin pumps. Insulin pumps are small computerized diabetes management devices connected with a cannula under the skin to deliver a slow and continuous insulin level. Optimal diabetes management depends on accurate glucose monitoring devices. Technological advancements in glucose monitoring devices have resulted in smaller requirements for blood samples with improved accuracy.

Furthermore, the ability to transfer data between the blood glucose (BG) meter and insulin delivery devices has been improved. For instance, Intuity Medical (US) recently introduced the POGO Automatic Blood Glucose Monitoring System for diabetic patients in the US in November 2021. The system is the only Food and Drug Administration (FDA) approved blood glucose monitoring device that offers automatic testing. In India, Abbott launched the FreeStyle Libre system in November 2020, the world's leading continuous glucose monitoring (CGM) technology for diabetic adults and children (over the age of four).

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