U.S. Diabetes Devices Market Size Worth $ 44.36 Billion By 2032 | CAGR: 6.5%

The U.S. Diabetes Devices Market size is expected to reach USD 44.36 billion by 2032, according to a new study by Polaris Market Research. The report “U.S. Diabetes Devices Market Share, Size, Trends, Industry Analysis Report, By Type (BGM Devices, Continuous Glucose Monitoring Devices, and Insulin Delivery Devices); By End-use; By Distribution Channel; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The prevalence of diabetes in the U.S. has surged dramatically over the past decade, primarily due to faulty lifestyles and a rise in obesity cases. Diabetes in the U.S. has been ranked as the fastest-growing chronic illness.

Each year, around 1.75 million people in the U.S. are diagnosed with diabetes. The U.S. also has the largest obese population, which is an important causal factor for type II diabetes.

As per the studies of the American Association of Clinical Endocrinologists (AACE), it is seen that of all those who were hospitalized with severe disease, around 22.2 to 26.9% were suffering from diabetes. It is also being reported that the high glucose level is associated with a rise in complications such as respiratory failures, & mortality among hospitalized patients with coronavirus.

Innovations in the sensors are the prime part of continuous glucose monitoring. Glucose monitoring sensors utilize glucose oxidase to detect glucose levels in blood. It converts glucose into hydrogen peroxidase, which reacts with platinum inserted inside the sensor to create an electrical signal to be transmitted via the transmitter. Moreover, technical advancements to improve the accuracy rate of sensors are expected to favor the market growth. In line with this, in March 2023, RSP Systems (Denmark) collaborated with the TRUMPF Photonic Components (Germany) to create a miniaturized sensor using small laser diodes (vertical-cavity surface-emitting lasers [VCSELs]) without pricking or any blood sample.

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Integration of AI in diabetes management is transforming the overall patient journey. It offers personalized insights & predictive analytics to help people manage conditions more effectively. AI-based algorithms analyze huge amounts of data from devices to provide customized, personalized advice and help in predicting future courses of action. For instance, Diabnext’s Clipsulin utilizes AI to manage insulin dosage tracking. It also provides recommendations to optimize diabetes management. Similarly, IBM Watson Health and Medtronic partnered to create an AI-powered app to analyze data from Medtronic’s diabetes devices.

Key players are focusing on technological innovations to develop innovative products to gain a prominent share. Advancements in insulin delivery technology, from insulin injections to pumps, it offers many conveniences to measure blood glucose levels on the go, without any hassles.

Diabetes Devices Market Report Highlights

• In 2023, the Continuous Glucose Monitoring Devices segment held the largest market share, attributed to the rising incidence of diabetes due to faulty lifestyles.
• The hospitals segment held the largest market share in 2023, owing to the rapid growth of the obese population.
• The U.S. players in the diabetes devices market include Abbott Diabetes Care, BD, Medtronic PLC, Molex, Roche Diabetes Care, and more.

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

U.S. 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

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

• Hospitals
• Diagnostic Centers
• Homecare

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

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

U.S. Diabetes Devices Market Report Scope