Diabetes Devices Market Estimated At USD 68.2 Billion By 2032

Introduction

The Global Diabetes Devices Market size is expected to be worth around USD 26.7 Billion by 2023 from USD 68.2 Billion in 2032, growing at a CAGR of 11.3% during the forecast period from 2024 to 2032.

The global diabetes products market is undergoing rapid expansion, driven by several critical factors. Notably, the increasing prevalence of diabetes is a major driver. Currently, over 500 million individuals worldwide are affected by this condition, marking it as a significant cause of mortality and disability globally. This number is projected to increase, with an expected global prevalence of 6.1% by 2050. Regions like North Africa, the Middle East, and Latin America are expected to see particularly significant increases. Specifically, the prevalence in North Africa and the Middle East is anticipated to rise from 9.3% to 16.8%, while Latin America and the Caribbean may see rates up to 11.3%.

Additionally, advancements in technology, especially in insulin delivery devices, are significantly boosting market growth. These technological innovations are enhancing the effectiveness and simplicity of diabetes management, which is increasingly important in the face of rising global obesity rates. This trend further complicates the diabetes epidemic, underscoring the urgent need for effective diabetes care solutions. These dynamics illustrate the market’s growth trajectory and highlight the importance of ongoing innovation in diabetes care products.

Key Takeaways

• Market Size: Global Diabetes Devices Market size is expected to be worth around USD 26.7 Billion by 2023 from USD 68.2 Billion in 2032.
• Market Growth: The market growing at a CAGR of 11.3% during the forecast period from 2024 to 2032.
• Product Analysis: The insulin delivery devices segment accounted for the highest market revenue share of 55.8% in 2022.
• End-Use Analysis: The hospital’s segment dominated the maximum market revenue share of 39% in 2022.
• Regional Analysis: North America accounted for a significant diabetes devices market revenue share of 35.4% due to the large diabetic population and favorable reimbursement rules.
• Expanding Prevalence: The global prevalence of diabetes is a major driver, with over 500 million individuals affected worldwide, emphasizing the need for effective diabetes management tools.
• Obesity as a Complicating Factor: Rising obesity rates worldwide are exacerbating the incidence of diabetes, further stimulating demand for diabetes management products and solutions.

Diabetes Devices Statistics

Diabetes Prevalence in Asia-Pacific:

• Asia-Pacific region holds 60% of the world’s diabetic cases.
• Half of this population is concentrated in key countries within the region.

Self-Monitoring Blood Glucose Devices Market:

• In Asia-Pacific, the self-monitoring blood glucose devices market is expected to reach USD 2.15 billion.

Insulin Pumps Usage:

• Globally, 15.5 million people with Type 1 diabetes are in developed countries.
• 11% (approximately 1.7 million) use insulin pumps or patches.
• North America leads with 850,000 insulin pump users, while Europe accounts for one-third of all insulin pump users.

Insulin Pump Market Share:

• Ypsomed’s YpsoPump: 17,000 users (1% of the market). Weighs 83 grams, half the weight of Medtronic’s pump.
• Medtronic’s Insulin Pump: 1 million users, holding 63% of the market.
• Tandem’s Insulin Pump: 144,000 users, capturing 9% of the market.

Insulin Market:

• Eli Lilly holds 50% of the insulin market share in the US.

Diabetes Apps and Mobile Technology:

• In 2023, diabetes apps are projected to reach 23 million downloads, a 15% increase from 2022.
• Between September 2022 and August 2023, 27 diabetes apps crossed 50,000 downloads each, accounting for around 50% of all global downloads.
• Abbott Diabetes Care’s FreeStyle LibreLink was the top app with over 2 million downloads during this period.
  • App Types:
    • 70% of top apps are from device manufacturers (e.g., Abbott, Dexcom) featuring automatic data sync, logbooks, and alerts.
    • 20% are from bundled service providers offering connected devices, AI coaching, lessons, and premium subscriptions.
    • 10% are data management platforms (e.g., Glooko) providing data sync, trend detection, and educational resources.

Growth in Diabetes App Market:

• In 2022, over 20 million downloads were recorded across nearly 3,000 diabetes apps, indicating significant market growth.

Clinical Data on Diabetes:

• Over 8 years, 15,903 clinic visits were recorded, averaging 1,988 patients annually.
• 4,174 unique patients participated, with 52.7% being female and 80% Non-Hispanic White.
• Continuous Glucose Monitors (CGMs) show benefits even for patients with hemoglobin A1c levels of 7.5% to 8.5%.
• Study covered over 91,000 days of data, involving 137 individuals aged 2 to 76 with type 1 diabetes.

Global Diabetes Impact:

• Approximately 422 million people worldwide have diabetes, showing a significant increase in recent decades.
• Diabetes is directly responsible for around 1.5 million deaths each year globally.
• A global initiative aims to halt the rise in diabetes and obesity by 2025.

Emerging Trends

• Biosimilar and Interchangeable Insulin Products: The FDA’s approval of biosimilar and interchangeable insulin products aims to reduce healthcare costs and improve access to insulin treatments by allowing pharmacy-level substitutions similar to generic drugs.
• Fully Implantable CGM Systems: The FDA-approved Eversense Continuous Glucose Monitoring (CGM) system includes a fully implantable glucose sensor that can be worn for up to 90 days, representing a shift towards more seamless and less intrusive glucose monitoring technologies.
• Algorithm-Based Insulin Delivery: New systems like the iLet Bionic Pancreas use algorithms to automate insulin delivery, reducing the need for manual settings adjustments and simplifying diabetes management for users.
• CGMs Without Routine Fingersticks: The FreeStyle Libre Flash Glucose Monitoring System is the first FDA-approved CGM that operates without the need for routine fingerstick blood sample calibrations, enhancing user convenience.
• Over-the-Counter CGM Devices: The recent FDA clearance of the Dexcom Stelo Glucose Biosensor System, an over-the-counter CGM, marks a significant advancement in making diabetes management tools directly accessible to consumers.
• Advanced CGM Features: Modern CGMs incorporate features like direct data download, trend analysis, and real-time alerts for glucose fluctuations, significantly aiding in daily diabetes management.
• Interoperable Diabetes Management Devices: The interoperable t:Slim X2 insulin pump can communicate with other diabetes management devices, reflecting a trend towards more integrated and user-centric diabetes care solutions.
• Preventive Therapies for Type 1 Diabetes: Drugs like Tzield that can delay the onset of stage 3 type 1 diabetes represent a groundbreaking approach in preventive diabetic care.
• Cellular Therapy for Diabetes: FDA’s approval of Lantidra, a cellular therapy for type 1 diabetes, introduces a novel treatment that could replace daily insulin use for some patients, showcasing significant innovation in diabetes treatment.
• Global Accessibility Initiatives: Efforts to improve global access to insulin and diabetes care are crucial, as highlighted by WHO reports addressing the barriers to insulin availability and suggesting actions to promote universal access.

Use Cases

• Continuous Glucose Monitoring (CGM): CGMs are used for round-the-clock tracking of glucose levels in the body, applicable during various activities like sleeping, exercising, or eating. These devices often alert users to dangerous glucose level fluctuations.
• Implantable CGM Systems: The Eversense system, for example, involves a sensor implanted under the skin that continuously monitors glucose for up to 90 days, providing a long-term monitoring solution without frequent replacements.
• Non-Calibration CGMs: Devices like the FreeStyle Libre system do not require fingerstick calibration, simplifying glucose monitoring by eliminating the need for routine blood sample testing.
• Wearable Health Patches: New technologies are emerging where wearable patches can monitor not just glucose but other vital parameters like blood pressure, potentially integrating diabetes care with broader health monitoring.
• Artificial Pancreas Systems: These systems combine a CGM with an insulin pump and a software algorithm to automate insulin delivery, closely mimicking the body’s natural glucose regulation process and reducing the user’s management burden.
• Insulin Pumps with Enhanced Delivery: For example, the iLet Bionic Pancreas utilizes an algorithm that customizes insulin delivery based on simple user inputs like meal size, significantly simplifying mealtime routines for users.
• Over-the-Counter CGMs: Recent FDA approvals have made certain CGM systems available over-the-counter, making it easier for patients to access and use CGMs without a prescription, which can help in early and easy monitoring of glucose levels.
• Remote Monitoring Capabilities: Some CGM systems can send glucose data to a caregiver or family member’s device, which is particularly useful for monitoring children or elderly patients remotely, ensuring timely intervention during emergencies.
• Diabetes Management Apps: Many diabetes devices come with companion apps that provide detailed insights into glucose trends, medication tracking, and personalized health tips, helping in comprehensive diabetes management.
• Safety and Storage Guidance for Test Strips: The FDA provides specific guidelines on the use of test strips, including warnings against using pre-owned or improperly stored test strips which could lead to inaccurate glucose readings and health risks.

Conclusion

The global diabetes products market is poised for significant growth, driven by the increasing global prevalence of diabetes, particularly in regions like North Africa, the Middle East, and Latin America. Technological advancements in insulin delivery and glucose monitoring systems are enhancing diabetes management, making it simpler and more effective. The rising rates of obesity worldwide are further amplifying the demand for advanced diabetes care solutions. With ongoing innovation in biosimilar products, fully implantable CGM systems, and algorithm-based insulin delivery, the market is expected to maintain a robust growth trajectory, ultimately aiming to improve patient outcomes and accessibility to essential diabetes care technologies.

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