The global diabetes care devices market was estimated at a market value of US$ 17 billion in 2022 and is expected to grow at a significant CAGR of 5.8% over the forecast period of 2023-2028.
The market for diabetes care devices is driven by several factors such as the rising prevalence of diabetes, growing awareness, and education among individuals on the importance of managing and taking care of one’s health. Technological advancements have made tracking one’s sugar level more feasible and convenient without losing accuracy, government policies play a pivotal role as reimbursement policies make them more accessible. Increasing healthcare Expenditure globally more so in the case of emerging economies these criteria drive the diabetes care devices market.
Market Scope and Report Overview
According to a deep-dive market assessment by RationalStat, the global diabetes care devices market has been analyzed based on market segments, including type, and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
Market intelligence for the global diabetes care devices market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units/tons/liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector, and products/services 10-year outlook and its implications on the global diabetes care devices market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Period Covered includes data for 2019-2028 along with year-wise demand estimations
The global diabetes care devices market study by RationalStat comprises comprehensive market analysis and insights across the key market segments and geography. The market report analyzes the global market for the historical period of 2019-2021 and the forecast period of 2023-2028 based on the product installed base, key forecasting factors impacting the market conditions, and major market developments happening in the market throughout the analysis period. RationalStat practices primary and secondary research for conducting an insightful market study. Various market parameters such as macroeconomic conditions, market environment, government policies, and competitive landscape are thoroughly studied and considered while analyzing the market.
The global diabetes care devices market report also covers value chain and supply chain analysis that provides in-depth information about the value addition at each stage of the product. Market dynamics incorporated in the market study include drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period. The market study also covers the pricing analysis of each product based on its types and regions.
The global diabetes care devices market includes a market share analysis and market structure overview with detailed company profiling of leading players with their financials, product offerings, major developments, etc. This enables clients and report buyers to make strong, precise, and timely decisions.
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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across most industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
Competition Analysis and Market Structure
Some of the prominent players that contribute significantly to the global diabetes care devices market growth Abbott Laboratories, Hoffmann-La Roche AG, DexCom Inc., Medtronic PLC, Novo Nordisk AS, Johnson & Johnson, Ascensia Diabetes Care, AgaMatrix, Bionime Corporation, Rossmax International Ltd among others.
RationalStat has segmented the global diabetes care devices market based on type and region.
- Global Diabetes Care Devices Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Type
- Insulin Pumps
- Insulin Syringes
- Insulin Cartridges
- Disposable Pens
- Jet Injectors
- Global Diabetes Care Devices Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Region
- North American Diabetes Care Devices Market
- Latin America Diabetes Care Devices Market
- Rest of Latin America
- Western Europe Diabetes Care Devices Market
- Rest of Western Europe
- Eastern Europe Diabetes Care Devices Market
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Diabetes Care Devices Market
- South Korea
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Diabetes Care Devices Market
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Rest of the Middle East & Africa
- North American Diabetes Care Devices Market
- Leading Companies and Market Players
- G Abbott Laboratories
- Hoffmann-La Roche AG
- DexCom Inc.
- Medtronic PLC
- Novo Nordisk AS
- Johnson & Johnson
- Ascensia Diabetes Care
- Bionime Corporation
- Rossmax International Ltd
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Key Questions Answered in the Diabetes Care Devices Report
- What will be the market value of the global diabetes care devices market by 2028?
- What is the market size of the global diabetes care devices market?
- What are the market drivers of the global diabetes care devices market?
- What are the key trends in the global diabetes care devices market?
- Which is the leading region in the global diabetes care devices market?
- What are the major companies operating in the global diabetes care devices market?
- What are the market shares by key segments in the global diabetes care devices market?
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