Diabetes Devices Market Size Worth $ 59.32 Billion By 2032 | CAGR: 8.0%

The Diabetes Devices Market size is expected to reach USD 59.32 billion by 2032, according to a new study by Polaris Market Research. The report “Diabetes Devices Market Share, Size, Trends, Industry Analysis Report, By Type (BGM Devices, Continuous Glucose Monitoring Devices, Insulin Delivery Devices); By End-use; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global diabetes devices market is driven by a rise in the diabetic population, the aging population, and technological innovations in devices, particularly in sensors. Adoption of these in developing regions is subject to favorable government policies and strong healthcare infrastructure. In line with this, the Government of India (GOI), under the “Free Drugs Service” of the National Health Mission (NHM), financial support is provided to the states to provide essential medicines, including insulin, to the poor people. Moreover, all quality generic (OTC) medicines will be at affordable prices under the “Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP)” in association with participating states.

• For instance, according to the Federation of European Nurses in Diabetes, the cost of diabetes management across the EU region is estimated to account for 3.0%—15% of the total spending on healthcare. The Czech Republic ranked as the highest diabetes spending country, accounting for 15% of its healthcare budget.

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AI and machine learning are effectively being used for diabetes care patient outcomes, early diagnosis, and prevention. It helps in understanding the underlying risk factors to predict risk complications or interventions for preventing diabetes, the likelihood of diabetic retinopathy, and nephropathy. AI also helps in improving lifestyle management to enhance positive clinical decisions and patient engagement. In line with this, in February 2024, Diabimetrics introduced revolutionary technology to bridge the gap between diabetes management. It uses AI based analysis for personalized treatment for poor patients. It uses predictive analytics with the help of eating habits, exercise patterns, stress levels, and quality sleep levels to analyze hormone imbalances.

Diabetes Devices Market Report Highlights

• Insulin delivery devices held the largest share, owing to the rise in diabetic patients seeking insulin via automated devices with metered dosage
• Blood glucose monitoring is expected to grow with moderate CAGR due to the presence of real-time glucose monitors and wearables to sense metabolic activities
• Hospital pharmacies held the largest share due to the presence of robust healthcare infrastructure and clinical facilities
• APAC will grow rapidly, primarily due to the presence of a huge number of diabetic patients and favorable government initiatives
• The global players include Abbott Diabetes Care, Dexcom, BD, Medtronic PLC, Molex, and Roche Diabetes Care.

Polaris Market Research has segmented the Diabetes Devices Market report based on type, end-use, distribution channel, and region:

Diabetes Devices, Type Outlook (Revenue - USD Billion, 2019 - 2032)

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

Diabetes Devices, End-use Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Diagnostic Centers
• Homecare

Diabetes Devices, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

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

Diabetes Devices, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Global Diabetes Devices Market Report Scope