Diabetes Care Devices Market Set to Soar Past USD 57.67 Billion by 2030
The global Diabetes Care Devices market size is expected to reach USD 57.67 billion by 2030 and exhibit a CAGR of 8.7% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing prevalence of diabetes worldwide, growing awareness about diabetes management and the importance of regular monitoring, technological advancements in diabetes care devices, rising healthcare expenditure and favourable reimbursement policies fuel the market’s growth.
Westford, USA, Aug. 15, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Diabetes Care Devices market, increasing adoption of continuous glucose monitoring (CGM) systems, growing demand for insulin delivery devices, integration of advanced technologies such as artificial intelligence (AI) and Internet of Things (IoT) in diabetes care devices, development of user-friendly and portable devices, emphasis on personalized diabetes management solutions, rising focus on remote monitoring and telemedicine in diabetes care are the market trends promoting the market’s growth.
Browse in-depth TOC on “Diabetes Care Devices Market”
- Pages – 157
- Tables – 62
- Figures – 75
Diabetes care devices are medical devices that help people with diabetes manage their condition. They can be used to monitor blood glucose levels, deliver insulin, and track other aspects of diabetes management. Diabetes care devices can help people with diabetes live healthier and more active lives.
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Prominent Players in Diabetes Care Devices Market
- Abbott
- Dexcom
- Medtronic
- Insulet
- Tandem Diabetes Care
- Roche
- Johnson & Johnson
- LifeScan
- Ascensia Diabetes Care
- Nipro Diagnostics
- Becton, Dickinson and Company
- Sanofi
- Terumo Corporation
- Ypsomed
- Arkray
- MicroGene
- Dr. Morepen
- Sinocare
Self-Monitoring Blood Glucose Device Demand is to Grow Substantially in the Forecast Period
Self-monitoring blood glucose devices dominated the global market owing to their quick and convenient measurements. It also allows patients to monitor their glucose levels at home or on the go. With the increasing prevalence of diabetes and growing awareness about self-management, SMBG devices are expected to continue dominating the market.
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Homecare Settings is the Leading End-User Segment
In terms of end-user, the homecare setting is the leading segment due to the demand for convenience and patient preference. In addition, there is an increasing focus on empowering individuals with diabetes to participate in their own care actively. Homecare settings support this trend by enabling patients to take control of their diabetes management, promoting self-monitoring and adherence to treatment plans.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on diabetes treatment. The region has been at the forefront of technological advancements and innovation in diabetes care devices. It is home to several prominent manufacturers and research institutions focused on developing advanced devices for diabetes management.
A recent report thoroughly analyzes the major players operating within the Diabetes Care Devices market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Diabetes Care Devices.
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Key Developments in Diabetes Care Devices Market
- In May 2023, Medtronic, a renowned player in healthcare technology, revealed its strategic move to acquire EOFlow Co. Ltd. EOFlow is the maker of the innovative EOPatch® device, which is a completely disposable, wearable insulin delivery device that operates without tubes.
Key Questions Answered in Diabetes Care Devices Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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