Global diabetes care products market size was valued at USD 21.0 billion in 2021 and is projected to reach around USD 38.5 billion in 2030 exhibiting a CAGR of 6.5% in the forecasted period.
The diabetes care products market refers to the industry that manufactures and sells various products and devices used for managing diabetes. These products are designed to assist individuals with diabetes in monitoring their blood glucose levels, administering insulin, and maintaining a healthy lifestyle. The market for diabetes care products has been growing steadily due to the increasing prevalence of diabetes worldwide. According to the International Diabetes Federation, approximately 463 million adults aged 20-79 years were living with diabetes in 2019, and this number is expected to reach 700 million by 2045.
Some of the key products in the diabetes care market include:
Blood Glucose Monitoring Devices: These devices are used to measure blood glucose levels. They include glucose meters, continuous glucose monitoring (CGM) systems, and glucose testing strips.
Insulin Delivery Devices: Insulin is a hormone that people with diabetes need to manage their blood sugar levels. Insulin delivery devices include insulin pens, insulin pumps, and insulin syringes.
Insulin and Other Medications: The market also includes insulin products, both rapid-acting and long-acting, as well as oral medications and other injectable drugs used for diabetes management.
Diabetic Foot Care Products: Diabetes can cause foot-related complications, and there is a range of products available for foot care, including diabetic socks, foot creams, and orthotic insoles.
Diabetes Management Software and Apps: There are various software applications and mobile apps designed to help individuals with diabetes track their blood sugar levels, medication intake, and overall health.
Diabetic Test Strips and Lancets: These disposable items are used with glucose meters for blood glucose testing.
Continuous Glucose Monitoring (CGM) Systems: CGM systems provide continuous glucose readings, eliminating the need for frequent fingerstick testing. They consist of a small sensor placed under the skin and a receiver or smartphone app for displaying glucose data.
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In recent years, technological advancements have significantly influenced the diabetes care market. The development of more accurate and user-friendly blood glucose monitoring devices, the integration of wireless connectivity and smartphone apps, and the emergence of closed-loop insulin delivery systems (artificial pancreas) are some of the notable trends shaping the industry.
Top key players of Diabetes Care Products Market:
Abbott
Hoffmann-La Roche AG
Johnson & Johnson
Dexcom
Medtronic
Novo Nordisk
Ascensia Diabetes Care
AgaMatrix
Bionime Corporation
Omnipod
Medisana
Trivia
Rossmax International Ltd.
Other players
Some of the Recent Developments:
- In 2021, Medtronic received a CE mark for the InPen smart insulin pen and Guardian 4 sensor for better diabetes management.
- In 2019, Novo Nordisk collaborated with Abbott to integrate its prefilled and durable connected pens directly into the FreeStyle Libre system.
Market Segmentation:
By Monitoring Device
Self-monitoring Blood Glucose Device (Glucometers, Test Strips, Lancets)
Continuous Glucose Monitoring Devices (Sensors and Durables, Receivers and Transmitters)
By Management Device
Insulin Pump (Insulin Pump Monitors, Insulin Pump Reservoirs, Insulin Infusion Sets)
Insulin Syringes
Cartridges in Reusable pens
Insulin Disposable Pens
Jet Injectors
By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
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Global Diabetes Care Products Market: Regional Analysis
The countries covered in the regional analysis of the Global Diabetes Care Products market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Benefits:
- The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
- Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
- Porter’s Five Force Model and SWOT analysis are used to study the global Diabetes Care Products market and would help stakeholders make strategic decisions.
- The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
- In-depth analysis of the types of Diabetes Care Products would help in identifying future applications in this market.
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 6-month post-sales analyst support
Objectives of the Study:
- To provide with an exhaustive analysis on the Diabetes Care Products Market by Product, By Application, By End User and by Region.
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
- To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
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