The global diabetic care devices market size was estimated to be USD 10.39 billion in 2023 and is expected to reach USD 20.62 billion by 2034 with a CAGR of 6.43% during the forecast period 2024-2034. The market will rise as a result of rising diabetes prevalence, technological advancements, increased awareness and education, government initiatives and support, and advancements in diabetes therapies.
The market for diabetic care equipment is significantly influenced by the growth in diabetes incidence worldwide. There is an increasing need for diabetes treatment and monitoring equipment due to the rising number of cases of the disease. Growth in the market is driven by ongoing technological improvements, such as the creation of more precise and user-friendly gadgets. Diabetes care has been enhanced by technological advancements like artificial pancreas and continuous glucose monitoring (CGM) devices. For instance, in January 2024, Roche Diagnostics announced a partnership with Verily (Google Life Sciences) to create artificial intelligence (AI)-driven diabetes care solutions utilizing data from continuous glucose monitoring (CGM).
By type, the self-monitoring blood glucose monitoring systems (SMBG) segment accounted for the highest revenue-grossing segment in the global diabetic care devices market in 2023 owing to the widespread adoption of these user-friendly devices by individuals with diabetes, coupled with advancements in technology that have enhanced the accuracy and convenience of self-monitoring. For instance, in November 2023, Medtronic announced that it had invested in Onduo, a digital therapeutics firm that creates AI-powered treatments for long-term conditions like diabetes. Additionally, the continuous glucose monitoring systems (CGM) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for real-time and continuous monitoring of glucose levels, which provides more comprehensive insights into glycemic fluctuations and trends.
By patient care setting, the hospitals & specialty clinics segment accounted for the highest revenue-grossing segment in the global diabetic care devices market in 2023 owing to the increased prevalence of diabetes-related complications and the need for comprehensive care, diagnostic services, and treatment options available at hospitals and specialty clinics. For instance, Abbott Laboratories announced in January 2024 that it was expanding its relationship with LifeScan in order to develop and market integrated solutions for the control of diabetes. Additionally, the self & home care segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend towards patient-centric healthcare, increasing preference for at-home monitoring and management of chronic conditions, and the development of user-friendly and portable diabetic care devices.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of diabetes, increased awareness about advanced diabetic care technologies, and strong adoption of innovative medical devices. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of diabetes, rising awareness about the importance of early diagnosis and management, and a growing population with improved access to healthcare services. For instance, in January 2024, Johnson & Johnson announced a strategic alliance with Huma Therapeutics, a digital health business, to create and market tailored diabetes treatment solutions.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
The market for diabetic care equipment is significantly influenced by the growth in diabetes incidence worldwide. There is an increasing need for diabetes treatment and monitoring equipment due to the rising number of cases of the disease. Growth in the market is driven by ongoing technological improvements, such as the creation of more precise and user-friendly gadgets. Diabetes care has been enhanced by technological advancements like artificial pancreas and continuous glucose monitoring (CGM) devices. For instance, in January 2024, Roche Diagnostics announced a partnership with Verily (Google Life Sciences) to create artificial intelligence (AI)-driven diabetes care solutions utilizing data from continuous glucose monitoring (CGM).
By type, the self-monitoring blood glucose monitoring systems (SMBG) segment accounted for the highest revenue-grossing segment in the global diabetic care devices market in 2023 owing to the widespread adoption of these user-friendly devices by individuals with diabetes, coupled with advancements in technology that have enhanced the accuracy and convenience of self-monitoring. For instance, in November 2023, Medtronic announced that it had invested in Onduo, a digital therapeutics firm that creates AI-powered treatments for long-term conditions like diabetes. Additionally, the continuous glucose monitoring systems (CGM) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for real-time and continuous monitoring of glucose levels, which provides more comprehensive insights into glycemic fluctuations and trends.
By patient care setting, the hospitals & specialty clinics segment accounted for the highest revenue-grossing segment in the global diabetic care devices market in 2023 owing to the increased prevalence of diabetes-related complications and the need for comprehensive care, diagnostic services, and treatment options available at hospitals and specialty clinics. For instance, Abbott Laboratories announced in January 2024 that it was expanding its relationship with LifeScan in order to develop and market integrated solutions for the control of diabetes. Additionally, the self & home care segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend towards patient-centric healthcare, increasing preference for at-home monitoring and management of chronic conditions, and the development of user-friendly and portable diabetic care devices.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of diabetes, increased awareness about advanced diabetic care technologies, and strong adoption of innovative medical devices. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of diabetes, rising awareness about the importance of early diagnosis and management, and a growing population with improved access to healthcare services. For instance, in January 2024, Johnson & Johnson announced a strategic alliance with Huma Therapeutics, a digital health business, to create and market tailored diabetes treatment solutions.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type, Patient Care Setting
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Diabetic Care Devices Market Report 2023 - 2034
Diabetic Care Devices Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Blood glucose monitoring systems
- Self-monitoring blood glucose monitoring systems
- Continuous glucose monitoring systems
- Insulin delivery devices
- Diabetes management mobile applications
Diabetic Care Devices Market Analysis & Forecast by Patient Care Setting 2023 - 2034 (Revenue USD Bn)
- Hospitals & specialty clinics
- Self & home care
Diabetic Care Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Diabetic Care Devices Market: Type Estimates & Trend Analysis
8. Diabetic Care Devices Market: Patient Care Setting Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Diabetic Care Devices Market
11. Europe Global Diabetic Care Devices Market
12. Asia Pacific Global Diabetic Care Devices Market
13. Latin America Global Diabetic Care Devices Market
14. MEA Global Diabetic Care Devices Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Roche Diagnostics
- Medtronic
- Abbott Laboratories
- Johnson & Johnson
- Dexcom
- Novo Nordisk
- Becton
- Dickinson and Company (BD)
- Sanofi
- Ascensia Diabetes Care
- Insulet Corporation
- Acon Laboratories
- Ypsomed AG
- Tandem Diabetes Care
- Terumo Corporation
- ARKRAY Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 10.39 Billion |
| Forecasted Market Value ( USD | $ 20.62 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
