![Diabetes Care Devices Market by Type [Monitoring Devices and Management/Treatment Devices], End User [Homecare Settings, Hospitals & Clinics and Diabetes Specialty Centers] – Global Outlook & Forecast 2021-2031](https://growthplusreports.com/report_images/1643110154.jpg "Diabetes Care Devices Market by Type [Monitoring Devices and Management/Treatment Devices], End User [Homecare Settings, Hospitals & Clinics and Diabetes Specialty Centers] – Global Outlook & Forecast 2021-2031")
Number of pages: 100-120 | Report Format: PDF | Published date: 19 February, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
Market Fundamentals
Diabetes mellitus (DM), commonly known as diabetes, is a group of metabolic disorders characterized by high blood sugar level (hyperglycemia) over a prolonged period of time. The symptoms often include frequent urination, increased thirst, and increased appetite. If left untreated, diabetes can cause many acute complications (diabetic ketoacidosis, hyperosmolar hyperglycemic state, or death) and serious long-term complications (cardiovascular disease, stroke, chronic kidney disease, foot ulcers, damage to the nerves, damage to the eyes and cognitive impairment). Diabetes care devices are often used to monitor and manage blood sugar levels in the body.
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Market Dynamics
The global diabetes care devices market is mainly driven by rising prevalence of diabetes globally coupled with rapid urbanization & sedentary lifestyle, rising obese population, and launch of technologically advanced devices. Growing awareness among people about self-management of diabetes is also likely to play a pivotal role in contributing to the growth of the market globally. However, stringent regulatory framework, high cost of few novel diabetes devices and increase in recall of the defective devices are likely to restrain the market growth to a certain extent.
Market Ecosystem
The global diabetes care devices market has been analyzed from four perspectives: Type, End User, and Region.
Diabetes Care Devices Market by Type
Based on type, the market has been segmented into monitoring devices and management/treatment devices. The monitoring devices are further bifurcated into self-monitoring devices (blood glucose meter, lancets/ lancing devices and testing strips/ test papers) and continuous blood glucose monitoring devices (sensors, transmitters and receiver). Whereas, management/treatment devices are further divided into insulin pumps, insulin pens, insulin syringes and needles and jet injectors. The monitoring devices segment accounted for the largest share in the market. The growth of the segment can be attributed to rising incidence of diabetes coupled with increased adoption of self-monitoring blood glucose devices. Monitoring devices are widely used by diabetic patients on a regular basis to adjust their dietary intake, physical activity, and insulin doses in response to blood glucose values.
Diabetes Care Devices Market by End User
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Based on end user, the diabetes care devices market has been segmented into homecare settings, hospitals & clinics, diabetes specialty centers and others (diagnostic centers and ambulatory care units). Homecare settings dominated the diabetes care devices market owing to growing adoption of self-blood glucose monitoring devices at home owing to their affordability and high convenience. Moreover, rising government initiatives to spread diabetes awareness also contributes to the growth of this segment.
Diabetes Care Devices Market by Region
Based on region, the global diabetes care devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the diabetes care devices market, followed by Asia Pacific. The large share of North America in the global market can be attributed to developed healthcare infrastructure, growing diabetic patient's base, and rising diabetes awareness among people. Furthermore, presence of prominent players coupled with rising FDA approval of the technologically advanced devices are also expected to contribute to the market growth in the region.
Competitive Landscape
Some of the prominent players operating in the diabetes care devices market includes:-
Strategic Developments
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Report Attribute |
Details |
|
Revenue forecast in 2031 |
USD ~81.5 billion |
|
Market size value in 2020 |
USD ~29 billion |
|
Growth Rate |
CAGR of ~9.0% from 2021 to 2031 |
|
Base year for estimation |
2020 |
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Forecast period |
2021-2031 |
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Segments covered |
Type, End User |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global diabetes care devices market was anticipated to clock US$ ~29 billion in 2020
The diabetes care devices market is projected to reach US$ ~81.5 billion by 2031
The global diabetes care devices market is mainly driven by rising prevalence of diabetes globally coupled with rapid urbanization & sedentary lifestyle, rising obese population, and launch of technologically advanced devices.
Abbott, F. Hoffmann-La Roche Ltd, Novo Nordisk A/S, BD, Sanofi, Terumo Corporation, B. Braun Melsungen AG, Medtronic, ARKRAY USA, Inc, ACON Laboratories, Inc
The growth rate of diabetes care devices market is CAGR of ~9.0% between 2021-2031
North America dominated the diabetes care devices market in 2020, followed by the Asia Pacific
