Diabetes Care Devices Market Size, Share, Growth Analysis, By Type (Blood glucose monitoring systems, Insulin delivery devices), By Patient Care Settings, By Region - Industry Forecast 2024-2031

Global Diabetes Care Devices Market size was valued at USD 2.8 billion in 2022 and is poised to grow from USD 3.26 billion in 2023 to USD 10.90 billion by 2031, growing at a CAGR of 16.3% during the forecast period (2024-2031).

Diabetes, a chronic and life-threatening condition with no cure, has reached pandemic levels, affecting approximately 537 million adults globally, according to the International Diabetes Federation (IDF). The growing prevalence, particularly of Type 2 diabetes linked to sedentary lifestyles, is expected to drive demand for diabetes care devices. Chronic diabetes complications, including heart attacks, kidney failure, and amputations, underscore the urgent need for effective management solutions. The World Health Organization highlights that diabetes is more prevalent in low to middle-income countries due to rising obesity rates and limited health awareness. As the disease burden increases, alongside various government initiatives aimed at raising awareness, the diabetes care devices market is anticipated to experience significant growth in the coming years.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Diabetes Care Devices market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Diabetes Care Devices Market Segmental Analysis

Global Diabetes Care Devices Market is segmented by Type, Patient Care Settings, and region. Based on Type, the market is segmented into Blood glucose monitoring systems, Insulin delivery devices, and Diabetes management mobile applications. Based on Patient Care Settings, the market is segmented into Self/Home Healthcare, and Hospitals & Diabetes Specialty Clinics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Diabetes Care Devices Market

The Global Diabetes Care Devices market is witnessing significant growth driven by the increasing prevalence of sedentary lifestyles and the associated rise in diabetes cases. With more individuals diagnosed with Type-2 diabetes due to unhealthy habits, the need for effective management solutions has become critical. According to the International Diabetes Federation, approximately 537 million adults are living with diabetes, which increases the urgency for care devices. Growing awareness among patients, alongside the demand for insulin-delivery systems, is further propelling market expansion. Emerging economies present significant opportunities due to a higher incidence of diabetes among middle and lower-middle-class populations, combined with a rising interest in technological advancements by manufacturers.

Restraints in the Global Diabetes Care Devices Market

The growth of the Global Diabetes Care Devices market is expected to encounter challenges during the forecast period, primarily due to the inaccessibility and low awareness of diabetes management technologies in remote and underdeveloped regions. Many patients in these areas lack access to essential diabetes care devices, which significantly limits market penetration. Additionally, the lengthy registration processes for new devices, coupled with complications surrounding reimbursement, further exacerbate these challenges. Consequently, these factors collectively hinder the overall adoption and growth of diabetes care devices in markets that are already struggling with healthcare access and awareness.

Market Trends of the Global Diabetes Care Devices Market

The Global Diabetes Care Devices market is experiencing significant growth driven by the rising adoption of self-monitoring blood glucose meters and test strips, alongside increased demand for continuous glucose monitoring (CGM) systems. This trend is particularly pronounced in developing countries, where greater awareness of diabetes management is influencing consumer behavior. Additionally, the WHO highlights the alarming statistic that over 60% of the global population lacks sufficient physical activity, exacerbating the risk of type 2 diabetes associated with increased body weight. As health consciousness continues to grow, market players are poised to capitalize on lucrative opportunities in this expanding sector.