Diabetes Devices Market (By Product: BGM Devices, Insulin Delivery Devices; By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, Diabetes Clinics/ Centers, Online Pharmacies, Others; By End-use: Hospitals, Homecare, Diagnostic Centers) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

Published Date : Aug 2021 | No. of Pages : 250 Pages | Category : Healthcare

According to Vision Research Reports, the diabetes devices market size is expected hit around US$ 51.6 billion by 2030 from valued at US$ 33.0 billion in 2020 and is anticipated to grow at a CAGR of 11.8% during forecast period 2021 to 2030.

Increasing incidence of diabetes due to rising geriatric population and an increasing number of obesity cases, along with technological advancement in the field of diabetes preventive care are driving the market growth. According to the Centers for Disease Control and Prevention (CDC), 93.3 million people were obese in 2016 and the number is expected to grow further during the forecast period.

Growth Factors

The market is driven by factors such as increasing incidence of diabetes, technological advancements, and innovative product launches. Increasing adoption of advanced diabetes management solutions in developing region, government policies, and rising medical tourism are some of the major factors contributing to the market growth. Furthermore, rising government initiatives to spread awareness about diabetes and increasing R&D expenditure of major players are the factors expected to boost the market growth.

 Obesity, sedentary lifestyle, and fast food culture are some of the factors expected to have significant impact on the market growth. According to Harvard T.H. Chan School of Public Health, U.S. has the highest rates of obesity and it is expected to increase up to 50% by 2030.

Type Insights

Insulin delivery devices are identified as the fastest growing segment in the global diabetes devices market and accounted for over 57% share in 2021. Based on, insulin delivery device, the market has been segmented into pens, pumps, syringes and jet injectors. Pens held a larger share of the diabetes devices market in 2021. However, the pump segment is expected to gain substantial market share as it is estimated to grow at fastest CAGR during the forecast period.

The adoption of blood glucose meters is gradually increasing due to advantages such as portability and accuracy. Market players are also focusing on developing these devices and are introducing small blood glucose meters. Some of the smallest blood glucose meters with advanced technology available in the U.K. are Abbott Diabetes Care Freestyle Lite, Bayer’s CONTOUR NEXT USB, Lifescan’s One Touch UltraEasy, Accu-Chek Aviva Nano, Accu-Chek Mobile, & TRUEone blood glucose meter. The introduction of these small, discreet, and easy-to-use blood glucose meters is expected to boost segment growth during the forecast years.

CGM is said to further collaborate with insulin delivery systems to ensure a single integrated system for efficient diabetes care management. For instance, Tandem Diabetes Care launched its Slim X2 insulin pump, which is integrated with Dexcom G6 CGM. Similarly, Ypsomed Holdings developed a CGM system called Mylife Unio Neva, which integrates with the company’s insulin pump.

Distribution Channel Insights

In 2021, hospital pharmacies accounted for over 55% of the market penetration owing to high footfall and availability of products. The two types of pharmacies operating within a hospital campus are inpatient pharmacy and outpatient pharmacy. Inpatient pharmacy is present within the hospital, accessible only by authorized personnel serving operation rooms, ICU, inpatient wards, and special service areas. Whereas outpatient pharmacies are generally located in hospital lobbies and entrances for customers. Handheld glucose meters and insulin delivery devices are available at the outpatient pharmacy.

As online pharmacies directly procure diabetes devices from the manufacturers, it helps them avail lucrative deals for customers. The increasing patient awareness about online pharmacies and increased public-private funding are key factors driving the segment. The COVID-19 pandemic has positively impacted the e-pharmacies business; the sales volume of diabetes devices is observed to have increased through this platform.

End-use Insights

Hospital segment dominated the market with largest market share of 45% in 2021. Increasing number of hospital admissions of diabetes patients is boosting the demand for the segment. Patients suffering from diabetes have threefold chance of hospitalization compared with those without diabetes. Diabetes technology has evolved rapidly in the past few years. Most of these technologies aim to improve diabetes care in hospitals and clinics. These advancements in technology have increased the usage of insulin pumps in hospitals and clinics.

Homecare segment is anticipated to lucrative growth rate at 7.4% compound annual growth rate(CAGR) during the forecast period. This growth is attributed to growing awareness about diabetes preventive care. Increasing government initiatives to promote awareness about diabetes and user-friendly interface of insulin pumps are increasing the demand for insulin pumps in homecare settings. Moreover, increasing geriatric population is boosting the demand for homecare.

According to the World Health Organization (WHO), 80% of the total elder population are living in low- and middle-income countries. By 2050, the total population aged 60 and older is expected to reach 2 billion. Thus, the abovementioned factors are boosting the demand for insulin pumps in-home care settings, which is expected to grow at an exponential growth rate.

Regional Insights

North America dominated the market in 2021 and is expected to lead the market with a growth rate of over 6.2% compound annual growth rate (CAGR) during the forecast period owing to its well-established healthcare sector. The increasing prevalence of obesity and the high cost of treatment is also expected to drive the region, along with technological advancements and new product launches.

In North America, the U.S. dominated the market owing to a large diabetic population and favorable reimbursement policies. High per capita income and increasing healthcare spending are among the key factors driving its market. According to American Diabetes Association, in 2019, the average estimated cost of diabetes-specific treatments per person was USD 9,505.60. In the U.S., a diabetic patient can incur an overall medical expenditure of nearly USD 16,750 per year. Furthermore, the adoption of smart devices and technological advancements such as the use of AI & data analytics are propelling the market growth.

The adoption rate of insulin delivery devices in Asian countries, such as China and India, is high. Factors such as growing awareness about diabetes care and an evolving healthcare landscape are responsible for the higher adoption of these devices in the APAC countries. In addition, the rise in healthcare spending has led to an increase in the adoption of technologically advanced products in countries such as China & India and is expected to boost the overall market growth.

Key Players

Medtronic plc; Abbott Laboratories; F.Hoffmann-La-Ltd; Bayer AG; Lifescan, Inc.; B Braun Melsungen AG; Lifescan, Inc.; Dexcom Inc.; Insulet Corporation; Ypsomed Holdings; Companion Medical; Sanofi; Valeritas Holding Inc.; Novo Nordisk; Arkray, Inc.; among others.

Market Segmentation

Diabetes Devices Product Outlook 

  • BGM Devices
    • Blood Glucose Meter
    • Testing Strips
    • Lancets
    • Sensors
    • Transmitters
    • Receiver
    • Self-Monitoring Devices
    • Continuous Glucose Monitoring Devices
  • Insulin Delivery Devices
    • Pumps
    • Pens
    • Syringes
    • Jet Injectors

Diabetes Devices Distribution Channel Outlook 

  • Hospitals Pharmacies
  • Retail Pharmacies
  • Diabetes Clinics/ Centers
  • Online Pharmacies
  • Others

Diabetes Devices End-use Outlook 

  • Hospitals
  • Homecare
  • Diagnostic Centers

Diabetes Devices Regional Outlook 

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Czech Republic
    • Russia
    • Poland
    • Turkey
    • Switzerland
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Vietnam
    • Philippines
    • Malaysia
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Colombia
    • Argentina
    • Chile
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Oman
    • Egypt

The Diabetes Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Diabetes Devices market for the base year 2020 and the forecast between 2020 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Diabetes Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Diabetes Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Diabetes Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Diabetes Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Diabetes Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Diabetes Devices market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Diabetes Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Diabetes Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Diabetes Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Diabetes Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Diabetes Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Diabetes Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Diabetes Devices market. These factors have benefited the growth of the global market for Diabetes Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Diabetes Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Diabetes Devices are as follows:

  • History Year: 2016-2020
  • Base Year: 2020
  • Estimated Year: 2020
  • Forecast Year 2020 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2020) and forecast (2020-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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