GVR Report cover Diabetes Devices Market Size, Share & Trends Report

Diabetes Devices Market Size, Share & Trends Analysis Report By Type (BGM Devices, Insulin Delivery Devices), By Distribution Channel, By End Use (Hospitals, Homecare), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-873-2
  • Number of Pages: 140
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Healthcare

Report Overview

The global diabetes devices market size was valued at USD 26.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030. The market is primarily driven by factors such as an increase in technological advancements and rise in the incidences of obesity. Moreover, increasing adoption of insulin delivery devices and rising prevalence of diabetes are driving market growth. Leading manufacturers are focusing on technological innovations and development of advanced products to gain substantial share of the market. For instance, in 2019, Novo Nordisk collaborated with Abbott to integrate its prefilled and durable connected pens directly into the FreeStyle Libre system (FreeStyle LibreLinkii mobile app and LibreViewiii cloud-based system).

Canada diabetes devices market size, by type, 2020 - 2030 (USD Billion)

Individuals diagnosed with diabetes are at an increased risk for COVID-19, thereby accelerating the demand of diabetes devices to effectively manage patients in hospital as well as home care settings. The increasing demand of diabetes devices is attributed to prevent the longer hospital stays and higher mortality rates in diabetic patients.

In response to the urgency brought about due to the pandemic, the U.S. Food and Drug Administration (FDA) issued guidance to permit the usage of home-use devices in hospital settings. This ensured the safety of healthcare workers by minimizing patient interactions. Thus, the adoption of diabetes devices amid COVID-19 was critical in managing the patients, thereby reducing the total healthcare expenditure mainly in resource constrained settings.

Increase in incidence of diabetes due to aging, obesity, and unhealthy lifestyle is one of the factors contributing to the growth of the market. Obesity is a major factor leading to diabetes. According to World Health Organization (WHO), in 2016, over 1.9 billion adults were overweight, of which, around 650 million people were obese. Risk factors, such as obesity and overweight, are leading to an increase in the incidence of diabetes. Therefore, risk factors such as smoking, overweight, obesity, and high cholesterol levels are expected to boost the prevalence of diabetes, thus fueling the need for diabetes devices.

The number of people suffering from diabetes in regions such as MEA and APAC is increasing, which in turn is propelling the demand for diabetes treatment. For instance, as per the International Diabetes Federation, in 2017, 72,946,400 new cases of diabetes were diagnosed in India. Thus, presence of untapped growth opportunities in rapidly growing MEA and Asian economies and growing awareness of diabetes in these regions are anticipated to boost the demand for diabetes devices.

Large geriatric population, affordable healthcare facilities, cost-efficient labor, and relatively less stringent regulatory policies are among the factors compelling diabetic devices manufacturers to expand their businesses. The manufacturers are now focusing on leveraging opportunities present in developing economies to gain maximum market share.

Technological advancements in diabetes devices such as introduction of high-end insulin pumps and pens are propelling the demand for these products. Leading manufacturers are focusing on technological innovations and development of advanced products to gain substantial share of the market.

In February 2019, Abbott entered into a non-exclusive partnership with Novo Nordisk. This partnership is expected to help in enhancing digital solutions for diabetes. Under this partnership, the data captured by Novo Nordisk prefilled durable connected pens will be reflected in digitally connected FreeStyle Libre system through FreeStyle LibreLink mobile app and LibreView cloud-based system. Through this technological integration, healthcare professionals can analyze both glucose and insulin data together, which in turn is likely to simplify diabetes management.

Type Insights

Insulin delivery devices are identified as the fastest growing segment in the global diabetes devices market and accounted for over 56.9% share in 2021. Based on, insulin delivery device, the market has been segmented into pens, pumps, syringes and jet injectors. Pens held a larger share of the diabetes devices market in 2021. However, the pump segment is expected to gain substantial market share as it is estimated to grow at fastest CAGR during the forecast period.

The adoption of blood glucose meters is gradually increasing due to advantages such as portability and accuracy. Market players are also focusing on developing these devices and are introducing small blood glucose meters. Some of the smallest blood glucose meters with advanced technology available in the U.K. are Abbott Diabetes Care Freestyle Lite, Bayer’s CONTOUR NEXT USB, Lifescan’s One Touch UltraEasy, Accu-Chek Aviva Nano, Accu-Chek Mobile, & TRUEone blood glucose meter. The introduction of these small, discreet, and easy-to-use blood glucose meters is expected to boost segment growth during the forecast years.

CGM is said to further collaborate with insulin delivery systems to ensure a single integrated system for efficient diabetes care management. For instance, Tandem Diabetes Care launched its Slim X2 insulin pump, which is integrated with Dexcom G6 CGM. Similarly, Ypsomed Holdings developed a CGM system called Mylife Unio Neva, which integrates with the company’s insulin pump.

Distribution Channel Insights

In 2021, hospital pharmacies accounted for over 54.0% of the market penetration owing to high footfall and availability of products. The two types of pharmacies operating within a hospital campus are inpatient pharmacy and outpatient pharmacy. Inpatient pharmacy is present within the hospital, accessible only by authorized personnel serving operation rooms, ICU, inpatient wards, and special service areas. Whereas outpatient pharmacies are generally located in hospital lobbies and entrances for customers. Handheld glucose meters and insulin delivery devices are available at the outpatient pharmacy.

As online pharmacies directly procure diabetes devices from the manufacturers, it helps them avail lucrative deals for customers. The increasing patient awareness about online pharmacies and increased public-private funding are key factors driving the segment. The COVID-19 pandemic has positively impacted the e-pharmacies business; the sales volume of diabetes devices is observed to have increased through this platform.

End-use Insights

Hospital segment dominated the market with largest market share of 40.9% in 2021. Increasing number of hospital admissions of diabetes patients is boosting the demand for the segment. Patients suffering from diabetes have threefold chance of hospitalization compared with those without diabetes. Diabetes technology has evolved rapidly in the past few years. Most of these technologies aim to improve diabetes care in hospitals and clinics. These advancements in technology have increased the usage of insulin pumps in hospitals and clinics.

Global diabetes devices market share, By end use, 2021 (%)

Homecare segment is anticipated to lucrative growth rate at 7.4% compound annual growth rate(CAGR) during the forecast period. This growth is attributed to growing awareness about diabetes preventive care. Increasing government initiatives to promote awareness about diabetes and user-friendly interface of insulin pumps are increasing the demand for insulin pumps in homecare settings. Moreover, increasing geriatric population is boosting the demand for homecare.

According to the World Health Organization (WHO), 80% of the total elder population are living in low- and middle-income countries. By 2050, the total population aged 60 and older is expected to reach 2 billion. Thus, the abovementioned factors are boosting the demand for insulin pumps in-home care settings, which is expected to grow at an exponential growth rate.

Regional Insights

North America dominated the market in 2021 and is expected to lead the market with a growth rate of over 6.0% compound annual growth rate (CAGR) during the forecast period owing to its well-established healthcare sector. The increasing prevalence of obesity and the high cost of treatment is also expected to drive the region, along with technological advancements and new product launches.

In North America, the U.S. dominated the market owing to a large diabetic population and favorable reimbursement policies. High per capita income and increasing healthcare spending are among the key factors driving its market. According to American Diabetes Association, in 2019, the average estimated cost of diabetes-specific treatments per person was USD 9,505.60. In the U.S., a diabetic patient can incur an overall medical expenditure of nearly USD 16,750 per year. Furthermore, the adoption of smart devices and technological advancements such as the use of AI & data analytics are propelling the market growth.

The adoption rate of insulin delivery devices in Asian countries, such as China and India, is high. Factors such as growing awareness about diabetes care and an evolving healthcare landscape are responsible for the higher adoption of these devices in the APAC countries. In addition, the rise in healthcare spending has led to an increase in the adoption of technologically advanced products in countries such as China & India and is expected to boost the overall market growth.

Key Companies and Market Share Insights

Market leaders are focusing on product launches and technological collaboration to increase their foothold in the market. For instance, in November 2020, Novo Nordisk announced the acquisition of Emisphere Technologies-a drug delivery technology company. The acquisition is anticipated to help Novo Nordisk gain a competitive edge in the oral antidiabetic market. Some of the notable companies operating in the diabetes devices market include:

  • Medtronic plc

  • Abbott Laboratories

  • F.Hoffmann-La-Ltd.

  • Bayer AG

  • Lifescan, Inc.

  • B Braun Melsungen AG

  • Lifescan, Inc.

  • Dexcom Inc.

  • Insulet Corporation

  • Ypsomed Holdings

  • Companion Medical

  • Sanofi

  • Valeritas Holding Inc.

  • Novo Nordisk

  • Arkray, Inc.

Diabetes Devices Market Report Scope 

Report Attribute

Details

Market size value in 2022    

USD 28.84 billion    

Revenue forecast in 2030

USD 54.16 billion

Growth rate

CAGR of 8.2% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2021 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, distribution channel, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America;Middle East & Africa (MEA)

Country scope

U.S.; Canada; UK; Germany; France; Italy; Spain; Czech Republic; Russia; Poland; Turkey; Switzerland; Japan; China; India; Thailand; South Korea; Australia; Vietnam; Philippines; Malaysia; Indonesia; Brazil; Mexico; Chile; Columbia; Argentina; Colombia; South Africa; Saudi Arabia; UAE;Egypt; Oman

Key companies profiled

Abbott Laboratories; F.Hoffmann-La-Ltd.; Bayer AG; Lifescan, Inc.; B Braun Melsungen AG; Lifescan, Inc.; Dexcom Inc.; Insulet Corporation; Ypsomed Holdings; Companion Medical; Sanofi; Valeritas Holding Inc.; Novo Nordisk; and Arkray, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the report 

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global diabetes devices market based on product, distribution channel, end-use, and region:

  • Type Outlook (Revenue, USD Million, 2018 - 2030)

    • 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

  • Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

    • Hospital pharmacies

    • Retail Pharmacies

    • Diabetes Clinics/Centers

    • Online Pharmacies

    • Others

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • Hospitals

    • Homecare

    • Diagnostic Centers

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

      • Italy

      • Russia

      • Czech Republic

      • Poland

      • Switzerland

      • Turkey

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • Vietnam

      • Philippines

      • Malaysia

      • Indonesia

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Chile

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Egypt

      • Oman

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