RationalStat has launched a new market report with updated industry trends for the “Diabetes Management Devices Market” that evaluates the market for diabetes management devices in different regions based on type, end users, distribution channels, and geography. The comprehensive report includes a market analysis and historical trends. This report provides information on the market share, product mix, competition overview, and growth strategies. It also includes details about the products, the regional presence of key players, technological advancements, and a competition assessment.
Global Diabetes Management Devices Market Overview & Dynamics
The rising incidence of diabetes in the global population will cause the demand for diabetes management devices and other diabetes-related products to increase during the forecast period. The global diabetes management devices market will grow at an average CAGR of 8.4% over the forecast period 2022-2028. Diabetes management devices are in high demand due to the rising incidence of diabetes around the globe.
In the next six years, the global diabetes management device market will experience strong growth. A growing number of people living in cities and a more sedentary lifestyle are two factors that have contributed to diabetes’s rise. This has pushed the market for diabetes management devices forward.
- Additionally, the rising obesity due to increased consumption of junk food is expected to drive demand for diabetes management devices around the globe.
- Due to rising diabetes rates, North America is a potential market for diabetes management products. According to the National Diabetes Statistics Report, there are 37.3 million Americans with diabetes. Of these, 28.7 million have been diagnosed. The remaining 8.5 million will not be diagnosed until 2021.
Asia Pacific is expected to experience significant growth due to rising awareness and increased awareness of spending on healthcare.
Global Diabetes Management Devices Market Segmental Analysis
- Based on Device Type, Insulin devices are expected to grow considerably owing to rising the adoption of an unhealthy lifestyle, geriatric population, and higher susceptibility to type 2 diabetes.
- On the basis of distribution channels, hospitals are anticipated to dominate the global diabetes management devices market due to the high footfall and availability of products.
- Based on region, North America is dominating the global diabetes management devices market due to the rising prevalence of obesity in the region, and the presence of key players in the region.
The global diabetes management devices market observes intense competition as a result of a presence of a large number of established players. Furthermore, start-ups and established players are focusing on technological developments which further propel the demand for diabetes management devices globally. Product innovations, launches, and partnerships are the identified industry trend in the global diabetes management diabetes market.
- In May 2021, Eli Lily and Company collaborated with DexCom, Inc., Glooko Inc., myDiabby Healthcare, and Roche with a goal to integrate data and technology to help streamline diabetes management.
- In November 2020, a Denmark-based bio-medical device manufacturer Novo Nordisk A/S acquired a 100% share of Emisphere Technologies.
Some of the prominent players operating in the global diabetes management devices market include Medtronic plc, F.Hoffmann-La-Roche Ltd., Abbott Laboratories Inc., Johnson & Johnson, Novo Nordisk A/S, Bayer AG, Insulet Corp., Sanofi SA, Lifescan Inc., B Braun Melsungen AG, Rossmax International Ltd., Eli Lilly and Company, and Ypsomed Holdings among others.
RationalStat has segmented the global diabetes management device market on the basis of device type, end-user, distribution channel, and region.
- By Device Type
- Blood Glucose Monitoring Device
- Self-Monitoring Devices
- Continuous Glucose Monitoring Device
- Insulin Delivery Device
- Insulin Pens
- Insulin Pumps
- Insulin Syringes
- Others (Jet Injectors)
- By End User
- Diagnostics Centre
- By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Diabetes Centers/Clinics
- E-commerce Websites
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
- Blood Glucose Monitoring Device
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About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
Dorinda Erwin, Content and Press Manager
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