Diabetes Care Devices Market: Major Trends Reshaping the Future of the Industry

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How Large Will the Diabetes Care Devices Market Size By 2025?
The market size of diabetes care devices has been expanding at a swift pace in past few years. The market is projected to escalate from its worth of $67.88 billion in 2024 to $76.22 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 12.3%. The surge observed in the historic period was driven by factors such as the rising prevalence of diabetes, economic development, restructuring of public health insurance, a surge in the elderly population, and hike in healthcare spending.

How Big Is the Diabetes Care Devices Market Size Expected to Grow by 2029?
It is anticipated that the diabetes care devices market will experience significant expansion in the coming years, with projections placing its worth at $121.11 billion in 2029, reflecting a compound annual growth rate (CAGR) of 12.3%. The progression during the estimated time can be credited to the rise in research and development investments and collaborations, the escalating burden of the disease, supportive government initiatives, and technological advancements. The forecast period is marked by key trends such as non-invasive glucose testing, glucose-responsive insulins (GRIS), artificial pancreas technologies, a shift away from traditional insulin syringes, the adoption of wearable and mobile glucose monitoring systems, and smart glucose meters.

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Which Key Market Drivers Powering Diabetes Care Devices Market Expansion and Growth?
The diabetes care device market is expected to expand with the rise in healthcare expenditures. These expenditures encompass the aggregate amount used on healthcare related services, products, and actions during a specific timeframe, generally at the level of an individual, community, country, or globally. This escalation in healthcare expenditure, combined with enhanced access to healthcare amenities and an upward trend in diabetes diagnoses, fuels investments into research and development, precipitating advancements in diabetes care devices such as advanced glucose monitoring systems, insulin delivery systems, and digital health solutions. For instance, Eurostat, a Europe-centric government agency, reported in November 2023 that social protection spending on sickness and healthcare in the European Union hit 8.1% of the GDP in 2022. Among the 24 EU nations with data, France topped the list with an expenditure of 10.0%, closely trailed by Germany with 9.7%, whereas Bulgaria had the lowest with 4.2%. Other countries with lower spending included Ireland (4.6%), Hungary and Lithuania (4.7%), and Estonia (4.8%). As a result, the escalating healthcare expenditure will be the propelling factor for the growth trajectory of the diabetes care device market in future.

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Which Fast-Growing Trends Are Poised to Disrupt the Diabetes Care Devices Market?
Leading firms in the diabetes care devices market, such as Medtronic, are striving to create novel offerings for increased market profitability. One such innovation is the Medtronic Extended Infusion Set - a conduit for delivering insulin from the pump to the body, suitable for utilization for up to a week. For example, in November 2022, Medtronic, a medical device company from the US, launched the Extended Infusion Set. The product employs state-of-the-art materials to reduce insulin preservative depletion and boost flow, thereby making it possible to use for twice the duration of a regular set. This unique design features a new tube connector and a robust adhesive patch, promising insulin stability and comfort for a period of up to 7 days.

What Are the Emerging Segments in the Diabetes Care Devices Market?
The diabetes care devices market covered in this report is segmented -

1) By Type: Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters
2) By Type of Expenditure: Public, Private
3) By Product: Instruments Or Equipment, Disposables
4) By Type Of Testing: Point Of Care (POC) Testing, Non-Point Of Care (POC) Testing
5) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

Subsegments:
1) By Blood Glucose Test Strips: Standard Blood Glucose Test Strips, Test Strips for Continuous Glucose Monitors
2) By Insulin Pens: Pre-filled Insulin Pens, Reusable Insulin Pens, Smart Insulin Pens
3) By Syringes: Insulin Syringes (various capacities), Disposable Syringes, Safety Syringes
4) By Pumps and Injectors: Insulin Pumps, Insulin Jet Injectors, Patch Pumps
5) By Lancing Devices and Equipment: Manual Lancing Devices, Automatic Lancing Devices, Lancets (various gauges)
6) By Continuous Glucose Monitoring Devices and Equipment: Real-Time CGM Systems, Flash Glucose Monitoring Systems, CGM Sensors and Transmitters
7) By Blood Glucose Meters: Standard Blood Glucose Meters, Smart Blood Glucose Meters, Meters with Integrated Data Management

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Who Are the Global Leaders in the Diabetes Care Devices Market?
Major companies operating in the diabetes care devices market include Becton Dickinson and Company, Roche Holding AG, Nipro Corporation, HTL-STREFA Inc., ARKRAY, Terumo Corporation, Owen Mumford, Ypsomed AG, Vogt Medical, Sanofi India, Biocon Ltd, Mehar healthcare, Johnson & Johnson, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell medical equipment & supply Co, Medtronic, Emperra GmbH E-Health, Novo Nordisk A/S, Insujet, Eli Lilly, Fresenius Medical Care, Siemens, Stryker, Teleflex Medical, LifeScan, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcom Inc., SocialDiabetes, Dottli, Themis Bioscience, Ok biotech, Acon Laboratories, Bayer AG, AgaMatrix.

Which are the Top Profitable Regional Markets for the Diabetes Care Devices Industry?
North America was the largest region in the global diabetes care devices market in 2024. Western Europe was the second largest region in the global diabetes care devices market. The regions covered in the diabetes care devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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