Diabetes Devices Market Size To Attain USD 59.78 Bn By 2032

Published Date : 01 Feb 2024

The global diabetes devices market size surpassed USD 32 billion in 2022 and is projected to attain around USD 59.78 billion by 2032, growing at a CAGR of 6.50% from 2023 to 2032.

Diabetes Devices Market Size and Growth Rate From 2023 To 2032

Market Overview

Diabetes is a chronic and long-lasting disease that happens when the blood sugar (glucose) in the body is too high. Glucose (sugar) comes from carbohydrates contained in the drinks and food. In recent years, diabetes has become a very common health condition that affects people of all ages. Diabetes raises the risk of damage to the kidneys, nerves, eyes, and heart. To manage diabetes effectively may reduce the risk of developing diabetes health problems. Various medical device brands are available to measure glucose levels in diabetes patients, such as glucometers, blood glucose meters (BGM), and continuous glucose monitors (CGM), etc.

The major factors driving the global diabetes devices market during the forecast period include dynamic changes in lifestyle, the rising burden of diabetes, rising health consciousness, rising approval of the tech-advanced blood glucose meters, growing need for insulin delivery devices, wide adoption of medical devices, growing geriatric population, increasing awareness regarding diabetes, supportive government initiatives and rising demand for high-end insulin pumps and pens. Additionally, rapidly growing sales of insulin delivery devices across the globe are accelerating the market's growth. 

  • In July 2023, CharmHealth and Bioverge, announced the investment in My Diabetes Tutor, a startup that aims to make a difference in the lives of people with diabetes.
  • In May 2023, Medtronic agreed to acquire insulin device manufacturer EOFlow. The addition of EOFlow, together with Medtronic's Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the company's ability to address the needs of more individuals with diabetes.
  • In April 2023, Undbio announced its plan to invest USD 100 million to build a US insulin manufacturing facility. The South Korean company is set to create a new facility in West Virginia to house insulin manufacturing and to deliver its insulin products in the country.
  • In November 2023, Novo Nordisk announced its plans to invest €2.1bn to expand production in France as it works to meet increasing demand for its sought-after weight-loss medicines.

Regional Snapshot

In 2023, North America held the largest share in the diabetes devices market owing to the increasing awareness of diabetes devices, rising geriatric population, growing demand for advanced devices to measure glucose levels, and rising prevalence of diabetes. As per the Centers for Disease Control and Prevention report for 2022, 38.4 million people, or 11.6 percent of the United States population, have diabetes. In addition to the Centers for Disease Control and Prevention (CDC), the National Diabetes Statistics Report 2023 estimated that 97.6 million U.S. adults have prediabetes and 27.2 million adults 65 or older have prediabetes. Moreover, the estimated cost of diagnosed diabetes in 2022 was USD 413 billion, including USD 307 billion in direct medical costs and USD 106 billion in indirect costs attributable to diabetes. Excess medical costs associated with diabetes were nearly USD 12,000 per person in 2022.

The U.S. is the major contributor to the diabetes devices market in North America. The country’s growth is attributed to several factors, including the major population being highly influenced by the consumption of unhealthy fast foods, rising disposable income, high healthcare expenditure, rising investment in glucose measuring devices, favorable reimbursement policies, supportive government initiatives to combat diabetes and spread awareness for early treatment to prevent chronic disorder. Moreover, a massive shift toward digital health solutions and the rapid adoption of advanced medical technologies are spurring the demand for diabetes devices. Thus, this is expected to propel the market growth in the region during the forecast period.

Diabetes Devices Market Report Scope

Report Coverage Details
Market Revenue in 2023 USD 33.82 Billion
Projected Forecast Revenue by 2032 USD 59.78 Billion
Growth Rate from 2023 to 2032 CAGR of 6.50%
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Market Dynamics


Increasing prevalence of diabetes

According to the report of the Institute for Health Metrics and Evaluation in June 2023, more than half a billion people are living with diabetes globally, affecting men, women, and children of all ages in every country, and it is estimated diabetes cases to rise from 529 million to 1.3 billion in the next 30 years. This rising prevalence of diabetes is expected to fuel the market's growth in the coming years. Diabetes is becoming a prevalent and lifelong disease, with type 2 diabetes being more common globally. Over time, high blood glucose raises the risk of damage to the eyes, kidneys, nerves, feet, and heart.

The latest estimates indicate that the current global prevalence rate is 6.1 percent, which makes diabetes one of the leading causes of death and disability. At the regional level, the highest rate is 9.3 percent in North Africa and the Middle East, and that number is anticipated to increase to 16.8 percent by 2050. The rate in Latin America and the Caribbean is anticipated to increase to 11.3 percent. Therefore, the increasing prevalence of diabetes globally increases the demand for its devices as more people are being diagnosed gradually, and it is expected to drive the diabetes devices market during the forecast period.

Growing geriatric population

The growing geriatric population is expected to fuel the market's expansion during the forecast period as the aging population is more susceptible to diabetes. According to the report published by the Institute for Health Metrics and Evaluation (IHME) in June 2023, diabetes was especially evident in people 65 and above in every country and recorded a prevalence rate of more than 20 percent globally. The highest rate was 24.4 percent for those between ages 75-79. The rising incidence of diabetes in the geriatric population increases the demand for diabetes management and monitoring tools.


High cost of devices

The high cost associated with the diabetes devices is projected to hamper the expansion of the diabetes devices market during the forecast period. Devices used for the diagnosis and treatment of diabetes are expensive, which makes them less accessible and may discourage individuals from purchasing them in middle- and lower-income countries. In addition, a lack of knowledge regarding the use of self-monitoring blood glucose levels may limit the expansion of the diabetes devices market.


Rising approval of insulin delivery devices

The rising approval of insulin delivery devices by the U.S. Food and Drug Administration is expected to offer a lucrative opportunity for market growth during the forecast period. This rise is primarily driven by growing demand for therapeutic and diagnostic solutions and rapid product launches.

  • In September 2023, the tubeless insulin pump received FDA clearance for people with diabetes. The FDA cleared a tubeless insulin pump for use by people with diabetes who use insulin.
  • In October 2023, Insulet's Omnipod 5 Insulin Pump App received FDA approval. The approved iPhone app for controlling the Omnipod 5 insulin pump marks a milestone in diabetes care. The company aims to enhance the lives of individuals with diabetes.

Technological advancements and new product launches

Rapid technological advancements in diabetes devices are projected to fuel the market's expansion in the coming years. Significant technological innovations in diabetes devices include continuous glucose monitoring (CGM) systems, insulin delivery systems, AI-powered diabetes management platforms, and the integration of digital health technologies into devices. Such innovation offers convenience to use, data-driven insights, and improved accuracy. Moreover, advanced technologies in hospitals and clinics aim to increase the usage of insulin pumps to improve diabetes patient care. Manufacturers are launching new products to gain a competitive edge.

  • In May 2023, Roche Diabetes Care (RDC) announced the launch of Accu-Chek Active glucose meters. The company has started manufacturing its blood glucose monitoring device, 'Accu-Chek Active' glucose meters, in India to improve access to diabetes care and meet the growing needs of the Indian diabetes devices market.

Recent Developments

  • In March 2022, Medtronic announced the launch of the MiniMed 780G system to simplify type 1 diabetes management in India. The MiniMed 780G system is a next-generation closed-loop insulin pump system for the treatment of type 1 diabetes in people between the ages of 7 to 80 years. The first Advanced Hybrid Closed-Loop Insulin Pump System in India features automatic insulin delivery, automatic correction boluses, and Bluetooth connectivity.
  • In January 2024, Dexcom announced its plan to launch a new continuous glucose monitor in mid-2024 for people with type 2 diabetes who don’t take insulin. The device, called Stelo, was submitted to the Food and Drug Administration for review in the fourth quarter of 2023.
  • In June 2022, Abbott announced it's developing a new biowearable that will enable people with diabetes to continuously monitor glucose and ketone levels in one sensor. The system is designed for the lives of people with life-threatening or irreversibly debilitating diseases or conditions.

Major Ket Players

  • B Braun Melsungen AG
  • Abbott Laboratories
  • Bayer AG
  • Medtronic Plc
  • F.Hoffman-La-Ltd.
  • Lifescan, Inc.
  • Dexcom, Inc.
  • Sanofi
  • Tandem Diabetes Care, Inc.
  • Companion Medical

Market Segmentation

By Type

  • Blood Glucose Monitoring
    • Self-Monitoring
    • Continuous Glucose Monitoring
  • Insulin Delivery Devices
    • Pens
    • Pumps
    • Jet Injectors
    • Syringes

By Distribution Channel

  • Retail Pharmacy
  • Hospital Pharmacy
  • Clinics
  • Online Pharmacy
  • Others

By End Use

  • Diagnostic Center
  • Hospitals
  • Home Care

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