Global Diabetes Devices Market: Overview

Diabetes mellitus, often referred as diabetes, is a chronic condition that results when there are elevated levels of glucose in the blood. High blood glucose levels occur when our body is unable to produce any or enough of the hormone insulin or use it effectively. Insulin is produced in the pancreas and is an essential hormone for transporting glucose from our blood stream into the body cells where it gets converted into energy. The lack of insulin or the inability of the cells to respond to insulin leads to high levels of blood glucose, or hyperglycemia, which causes diabetes. If diabetes is undiagnosed and treatment for it is not taken correctly, it leads to damage of other body organs and development of life-threatening health complications such as neuropathy, cardiovascular disease, nephropathy and eye disease, leading to retinopathy and blindness. Presently 415 million people are living with diabetes.

According to the research report, the global diabetes devices market is expected to be worth US$66,053.1 mn by the end of 2025 from US$37,220.8 mn in 2016. During the forecast years of 2017 and 2025, the global market is estimated to exhibit a CAGR of 6.7%.

global diabetes devices market

Glucose Monitoring Devices to Remain Popular Disease Management Tools

The global diabetes devices market has been segmented based on product type, distribution channels and geography. Considering the product type the global diabetes devices market is classified in to major segments- glucose monitoring devices, insulin delivery devices, diabetes monitoring software, and artificial pancreas system. The glucose monitoring devices includes four main sub-segments such as self -monitoring blood glucose meters, blood glucose testing strips, lancets and continuous glucose monitoring meters. Insulin delivery devices segment includes insulin syringes, insulin pens and insulin pumps. Different types of pens and pumps with various designs are available in the market depending upon the customer’s requirement. In 2016 glucose monitoring devices accounted for the major market share in terms of revenue. Growth in incidence of diabetes and development of innovative technology for insulin delivery is likely to drive the market the market during forecast period.

Insulin pumps accounts for the prominent share in the diabetes devices market. Rising number of oral drugs and supplements for diabetes treatment is restraining the market during the forecasted period. However, continuous developments in medical device technology will lead a significant growth in the diabetes devices market during the forecasted period. Based on distribution channel the global diabetes devices market can be divided into hospital pharmacies, retail pharmacies, online pharmacies, and diabetes clinics/centers. The hospital pharmacy segment contributes maximum share in terms of revenue in the forecast period. Also rise in the number of online platforms providing prescription and non-prescription diabetes care devices is estimated to drive the segment during the forecast period.

Asia Pacific Shows Promise of Growth as Incidence of Diabetes Remains on the Rise

Geographically, the diabetes devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America contributed for the largest share of 37.5% of the global diabetes devices market in 2016, followed by Europe with 34.4% market share. This is attributed to developed economy and advanced health care infrastructure coupled with awareness of population regarding the treatment of diabetes and associated diseases. In North America and Europe the glucose monitoring device segment of diabetes devices market contributes the maximum share.  Asia Pacific may show a promising market for the diabetes devices business because of increasing population and increasing healthcare facilities and developing economy. Additionally the Asia pacific, Latin America regions are focusing on increasing diabetes clinics which will be driving the market during forecast period.

In the global diabetes devices market the major operating players are Medtronic plc, Sanofi S.A., Eli Lilly and Company, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd. and others. These are the major players of diabetes devices market and exhibit the largest geographical outreach with presence of range of worldwide.

Global Diabetes Devices Market: Scope and Methodology

This report on the global diabetes devices market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.

The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2017 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global diabetes devices market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.

A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global diabetes devices market.

Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of various segments of global optometry market.

Diabetes Devices Market: Segmentation

Diabetes Mellitus is a chronic condition in which our body is unable to produce or utilize insulin for converting blood glucose into energy. Globally around 415 million people are living with diabetes. Half of the world’s population suffering with diabetes still remains undiagnosed. It is studied that 90% of diabetes cases are of type 2 diabetes. The diabetes devices market has a huge scope during the forecast period. The global diabetes devices market can be segmented based on product type, distribution channel and region.

Depending on the product type the global diabetes devices market includes Glucose Monitoring Devices, Insulin Delivery Devices, Diabetes Monitoring Software and Artificial Pancreas System. The Glucose Monitoring Devices includes four main sub-segments viz. self -monitoring blood glucose meters, blood glucose testing strips, lancets and continuous glucose monitoring meters. Insulin delivery devices segment includes insulin syringes, insulin pens and insulin pumps. The Glucose Monitoring Devices segment is projected to be a highly attractive segment of the global diabetes devices market during the forecast period. The segment is anticipated to be expand at a CAGR of 6.7% during the forecast period. Self- monitoring blood glucose meters segment contributes maximum share to the global diabetes devices market in terms of revenue. High prevalence of diabetes due to factors such as lifestyle changes, high life expectancy and increased urbanization drives this segment of the Diabetes Devices market as people have become more careful about their health conditions and thus regularly monitor their blood glucose levels.

Based on the distribution channel, the global diabetes devices market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and diabetes clinics/centers. The hospital pharmacy segment contributes maximum share in terms of revenue in the forecast period.

Diabetes Devices Market: Geographical and Competitive Dynamics

Geographically, the global diabetes devices market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region.

The report also profiles major players in the diabetes devices market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Medtronic plc, Sanofi S.A., Eli Lilly and Company, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd.

Global diabetes devices market is segmented as follows:

Global Diabetes Devices Market Revenue, by Product Type

  • Glucose Monitoring Devices
    • Self- monitoring blood glucose meters
    • Blood glucose testing strips
    • Lancets
    • Continuous glucose monitoring meters
  • Insulin Delivery Devices
    • Insulin syringes
    • Insulin pens
    • Insulin pumps
  • Diabetes Management Software
  • Artificial Pancreas System

Global Diabetes Devices Market Revenue, by Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Diabetes Clinics/ Centres

Global Diabetes Devices Market Revenue, by Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East and Africa
    • GCC countries
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America