Diabetes Management Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, France, UK, China - Size and Forecast 2024-2028

Diabetes Management Devices Market 2024-2028

The global diabetes management devices market size is estimated to grow by USD 13.98 billion at a CAGR of 7.68% between 2023 and 2028. 

The market is undergoing continuous advancements through research and development initiatives aimed at creating innovative products. Manufacturers are dedicated to introducing novel solutions equipped with advanced technologies to cater to diverse individual needs. To maintain a competitive edge, vendors are offering discreet, small-sized, pocket-friendly devices, as well as one-touch insulin delivery systems, automated insulin delivery devices, and closed-loop systems. There is a growing emphasis on developing less invasive, user-friendly, and wearable insulin delivery devices, including voice-oriented and touch-enabled options. Ongoing product introductions, such as Medtronic's Extended infusion set and Biocorp and Roche's Mallya smart insulin pen device, reflect the dynamic evolution of the market to meet the evolving requirements of diabetes patients, contributing to market growth during the forecasted period.

Technavio has segmented the market into  Product, Distribution Channel, and Geography 

• The product  segment is classified into blood glucose monitoring devices and insulin delivery systems
• The distribution channel segment is classified into offline and online
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth market growth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the Size of the Diabetes Management Devices Market During the Forecast Period?

To learn more about this report, Download Report Sample

Segmentation by Product, Distribution Channel and Geography Analysis

Product Analysis

Blood glucose monitoring devices

The market share growth by the blood glucose monitoring devices segment will be significant during the forecast period. Blood glucose monitoring devices measure the glucose (sugar) level in human blood. These devices are important for people with diabetes, as one needs to monitor their blood glucose levels regularly to manage their health condition. A wide range of products, such as test strips and lancets, helps individuals with diabetes monitor the glucose levels in their blood. 

Get a glance at the market contribution of various segments Download PDF Sample

The blood glucose monitoring devices were the largest and were valued at USD 12.92 billion in 2018. These devices encompass various products such as blood glucose meters, continuous glucose monitoring systems (CGMs), lancets, and test strips. Blood glucose meters require a small blood sample placed on a test strip for measurement, while CGMs use sensors under the skin to provide continuous glucose level readings. Lancets and lancing devices aid in obtaining blood samples, and disposable test strips are used in meters for glucose measurement. The global market for these devices is anticipated to witness significant growth, propelled by the rising prevalence of diabetes and increased awareness of the importance of blood glucose monitoring devices which in turn drive the market growth during the forecast period.

Distribution Channel Analysis 

Offline

The offline segment refers to the distribution channels and sales of diabetes management devices through offline distribution channels. This includes brick-and-mortar retail stores, pharmacies, and healthcare facilities. Offline sales of diabetes management devices are still a significant part of the market, as many people prefer to physically see and touch the products before purchasing them. Offline diabetes management devices include blood glucose meters, insulin pens, insulin pumps, continuous glucose monitoring systems, and other products.  The offline segment of the market includes the distribution and sales of diabetes management devices through traditional brick-and-mortar retail stores and healthcare facilities. Hence, offline distribution channels, such as retail stores, pharmacies, and hospitals, can help manufacturers reach a wider audience, especially in regions where Internet penetration is low, or e-commerce is not prevalent, which, in turn, will drive the growth of the segment in the forecast period.

Online 

The online distribution channel is a significant segment in the market, as more consumers are turning to online platforms to purchase these devices. Online distribution channels offer various benefits, such as convenience, accessibility, and the ability to compare prices and products from different manufacturers. The online distribution channel for diabetes management devices includes online pharmacies, e-commerce websites, and manufacturer websites. Additionally, online channels offer competitive pricing, which can be significantly lower than brick-and-mortar stores. Another advantage of the online distribution channel is the convenience of shopping anywhere, anytime, without visiting a physical store. This is especially beneficial for people living in remote areas or those with mobility issues. Overall, the online distribution channel is expected to grow during the forecast period.

Regional Analysis

For more insights about the market share of various regions Download PDF Sample now!

North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and analysis along with drivers will shape the market during the forecast period. The North American market is a significant and growing market. It includes devices such as blood glucose meters, continuous glucose monitoring (CGM) systems, insulin delivery systems, and other accessories used to manage diabetes. Hence, the market is expected to continue growing in the forecast period, driven by factors such as the increasing prevalence of diabetes, the rising awareness of the importance of glycemic control, and the development of new and innovative diabetes management technologies. The market is dominated by several major players, including Abbott Laboratories, Medtronic, and Dexcom, Inc., among others

In addition, the diabetes management devices market in North America is growing steadily due to increased technological advances. The CGM systems allow people with diabetes to monitor their blood sugar levels continuously. These systems use a sensor inserted under the skin to measure glucose levels in the interstitial fluid. The data from the sensor is sent to a receiver or smartphone, where the user can see their glucose levels in real-time. Such factors are expected to drive the regional market growth during the forecast period. 

Buy Full Report Now

Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Abbott Laboratories - The company offers diabetes management devices such as FreeStyle Freedom Lite, FreeStyle Lite and FreeStyle Libre glucose monitoring system for personal and, FreeStyle Optium Neo and FreeStyle Precision Pro blood glucose and ketone monitory system for hospital use.

• ACON Laboratories Inc.
• B.Braun SE
• Becton Dickinson and Co.
• Bionime Corp.
• Dexcom Inc.
• Eli Lilly and Co.
• F. Hoffmann La Roche Ltd.,
• iHealth Labs Inc.
• Insulet Corp.
• LifeScan IP Holdings LLC
• Medtronic Plc
• Nemaura Medical Inc.
• Nipro Corp.
• Nova Biomedical Corp.
• Novo Nordisk AS
• PHC Holdings Corp.
• Prodigy Diabetes Care LL
• Tandem Diabetes Care Inc.
• WellDoc Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Drivers

The rising global burden of diabetes is notably driving the market development. Diabetes is a chronic disease when the body cannot use insulin effectively or the pancreas produces insufficient insulin. Hyperglycemia or increased blood sugar can result in severe damage or complications, which may become life-threatening to the individual if left untreated. The global burden of the disease is rising at a rapid pace. In 2021, approximately 537 million adults (20-79 years) had diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. 

Furthermore, the incidence of diabetes is higher in the older population. Hence, the increase in the number of people with diabetes is driving the demand for diabetes management devices such as glucose meters, continuous glucose monitoring systems, and insulin delivery devices, which will drive the growth of the marke the forecast period.

Significant  Trends

Growing focus on artificial pancreas is an emerging trend influencing the market growth. The market has been witnessing a growing focus on developing and adopting artificial pancreas systems. An artificial pancreas is a closed-loop system that uses a continuous glucose monitor (CGM) and an insulin pump to regulate blood glucose levels in people with diabetes automatically. The adoption of artificial pancreas systems is gaining momentum due to their ability to improve glycemic control and reduce the risk of hypoglycemia in people with diabetes. These systems effectively manage blood glucose levels, especially overnight when it is difficult for people to monitor their glucose levels.

In addition, the increasing prevalence of diabetes worldwide is driving the demand for diabetes management devices, including artificial pancreas systems. Overall, the market is expected to continue growing during the forecast period, with a particular focus on the adoption of artificial pancreas systems as a more advanced and effective diabetes management solution. Such factore are expected to drive the market growth during the market forecast period. 

Major  Challenges

The lack of awareness of diabetes management devices is a significant challenge for market growth. Diabetes is a chronic disease that affects millions of people worldwide, and effective management of diabetes requires the use of various devices such as blood glucose meters, insulin pens, insulin pumps, continuous glucose monitoring systems, and others. However, many people with diabetes may not be aware of the various devices, such as closed-loop insulin delivery systems and smart insulin pens, available for diabetes management, their benefits, and how to use them properly. This lack of awareness can lead to poor diabetes management and serious health complications.

In addition, innovative approaches such as digital health technologies, telemedicine, and remote monitoring can help to improve diabetes management and raise awareness about the importance of using diabetes management devices. These approaches can enable people with diabetes to receive personalized care and support, regardless of their location or the availability of healthcare resources. Hence, the lack of awareness can be due to various factors, such as a lack of education and information, limited access to healthcare services, cultural or societal barriers, and financial constraints, which will hinder market growth and trends during the forecast period.

Buy Now Full Report

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

 Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Product Outlook
  • Blood glucose monitoring devices
  • Insulin delivery systems

• Distribution Channel Outlook
  • Offline
  • Online

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil 
    • Argentina 
    • Australia

Diabetes Management Devices Market Scope
Report Coverage	Details
Page number	163
Base year	2023
Historic period-	2018-2022
Market forecasting period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 7.68%
Market Growth 2024-2028	USD 13.98 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	7.22
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 41%
Key countries	US, Germany, France, UK, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Abbott Laboratories, ACON Laboratories Inc., B.Braun SE, Becton Dickinson and Co., Bionime Corp., Dexcom Inc., Eli Lilly and Co., F. Hoffmann La Roche Ltd., iHealth Labs Inc., Insulet Corp., LifeScan IP Holdings LLC, Medtronic Plc, Nemaura Medical Inc., Nipro Corp., Nova Biomedical Corp., Novo Nordisk AS, PHC Holdings Corp., Prodigy Diabetes Care LL, Tandem Diabetes Care Inc., and WellDoc Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Download Sample PDF at your Fingertips

What are the Key Data Covered in this Diabetes Management Devices Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size and its contribution n of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch