According to a market report by Lucintel, the future of the diabetes device market looks promising with opportunities in the hospitals, homecare, and diagnostic centers. The global diabetes device market is expected to grow with a CAGR of 12% to 14% from 2023 to 2028. The major drivers for this market are increasing prevalence of obesity and diabetes, growing health consciousness and awareness regarding diabetes, development of advanced diabetes devices, and increasing adoption of insulin delivery devices.
In this market, blood glucose monitoring devices (self-monitoring devices and continuous glucose monitoring devices) and insulin delivery devices (pens, pumps, jet injectors, and syringes) are the major segmentsdiabetes device by product type. Lucintel forecasts that insulin delivery devices will remain the fastest growing segment over the forecast period due to unhealthy lifestyles, technological advancement in insulin delivery devices like insulin pens, insulin pumps, jet injectors, and other devices, and more people are using insulin patches, and smart insulin pumps to self-manage their diabetes.
Within this market, hospital is expected to remain the largest segment due to growing number of hospitalization cases of diabetic patients and the advancements in technology that have increased the usage of insulin pumps and diabetes care in hospitals and clinics.
North America will remain the largest region due to large number of diabetic population and favorable reimbursement policies, high per capita income, increasing healthcare spending, and increasing prevalence of obesity and high cost of treatment.
Abbott Laboratories, Arkray, B. Braun Melsungen AG, Dexcom, F. Hoffmann-La Roche AG, Medtronic PLC, Sinocare, Nova Biomedical, Sanofi, and Novo Nordisk are the major suppliers in the global diabetes device market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global diabetes device market by product type, distribution channel, end use industry and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Diabetes Device Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global diabetes device market by product type, distribution channel, end use industry and region, as follows:
Diabetes Device Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
·Blood Glucose Monitoring Devices
o Self-Monitoring Devices
o Continuous Glucose Monitoring Devices
·Insulin Delivery Devices
o Pens
o Pumps
o Jet Injectors
o Syringes
Diabetes Device Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
· Hospital pharmacies
· Retail Pharmacies
· Diabetes Clinics/Centers
· Online Pharmacies
· Others
Diabetes Device Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
· Hospitals
· Homecare
· Diagnostic Centers
Diabetes Device Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Diabetes Device Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the diabetes device market by product type (blood glucose monitoring and insulin delivery devices), distribution channel (hospital pharmacies, retail pharmacies, diabetes clinics/centers, online pharmacies, and others), end use industry (hospitals, homecare, and diagnostic centers), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?