Growth Factors of Diabetes Devices Market
The global diabetes devices market size was valued at USD 20.92 billion in 2018 and is projected tgrow tUSD 48.35 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2019-2032.
The COVID-19 pandemic disrupted delivery chains but improved the decision for diabetes gadgets like glucose videshow devices and insulin pumps, pushing through the need for far-flung healthcare management and impeding the diabetes devices market growth.
The diabetes gadgets marketplace is pushed by the developing incidence of diabetes, developing health consciousness, technological improvements in glucose tracking and insulin shipping systems, and increasing demand for minimally invasive answers timprove affected person results.
The diabetes gadgets marketplace is experiencing a full-size boom, pushed by the rising occurrence of diabetes globally and improvements in the medical era. Key trends consist of the growing adoption of non-stop glucose tracking (CGM) structures, the improvement of extra accurate and person-friendly insulin delivery devices, and the integration of artificial intelligence (AI) and gadget mastering (ML) for personalized diabetes control, leading tthe expansion of diabetes devices market share globally.
Comprehensive Analysis of Diabetes Devices Market
The diabetes gadgets market is segmented through kind and distribution channels. Based on kind, the marketplace includes monitoring and treatment gadgets, with tracking devices protecting the essential proportion due tadvancements in continuous glucose monitoring systems, smart insulin pumps, and wearable technology that decorate self-diabetes control. By distribution channel, the market is divided intinstitutional and retail sales, with retail income mainly due tthe developing availability of private-label manufacturers at discounted charges and extended adoption of diabetes care merchandise in shops. Institutional sales are alsexpected tdevelop, pushed by the growing desire for blood glucose tracking through surgical procedures and chronic ailment management.
The Asia Pacific region led the diabetes devices market by benefitting a size of USD 8.48 billion in 2018 due tthe growing diabetes populace and the fairly decreased charges of insulin and insulin transport devices.
The leading players in the diabetes devices market significantly influence its growth trajectory and set industry standards. These key players, including F. Hoffmann-La Roche Ltd (Switzerland), Tandem Diabetes Care, Inc. (U.S.), B. Braun Melsungen AG (Germany), Medtronic (Ireland), BD (U.S.), NovNordisk A/S (Denmark), Abbott (U.S.), Sanofi (France), and other prominent companies, contribute ta competitive landscape, driving innovation and market advancement in diabetes care technology.
In May 2021, Medtronic introduced that it had acquired European acclaim for diabetes control devices. The first is InPen, a related insulin pen intended for those requiring a couple of daily injections. The second is the Guardian 4 sensor, which can be used either as a standalone non-stop glucose reveal or along with InPen, and each gadget is CE-marked.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2015-2026
Base Year 2018
Forecast Period 2019-2026
Historical Period 2015-2017
Unit Value (USD billion)
Segmentation By Type
Blood Glucose Monitoring Systems
Continuous Glucose Monitoring Systems
Self-Monitoring Blood Glucose Systems
Treatment Devices
Insulin Pens
Insulin Pumps
Insulin Jet Injectors
Insulin Syringes
Others
By Distribution Channel
Institutional Sales
Retail Sales
By Geography
North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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