Diabetes Care Market Size, Share, Opportunities, And Trends By Devices (Blood Glucose Meters And Strips, Continuous Glucose Monitors, Flash Glucose Monitoring Device, Injection Pens, Insulin Pumps, Automated Insulin Delivery Systems), By Drugs (Injectable, Oral), By End-User (Hospitals, Ambulatory Care Units, Home Care), And By Geography - Forecasts From 2018 To 2023

The global diabetes care market is estimated to grow at a CAGR of 5.53% during the forecast period to reach a market size of US$95.102 billion by 2023 from a market size of US$68.384 billion in 2017.

Rapidly changing lifestyles in many regions across the globe is a major factor driving the growth of this market. An unhealthy lifestyle is increasing the incidences and threat of diabetes among people, thus increasing the demand for diabetes care solutions. The rising disposable income of people is increasing the adoption of these solutions among them. Continuous advancements in technologies, on account of heavy investments being funneled into research and development by major market players, are enhancing the capabilities and reliability of diabetes care solutions, which is further fueling their adoption, thus augmenting the market growth.

Diabetes is a condition that impacts the overall body of humans. It is also known as diabetes mellitus by doctors and is characterized by a symptom in which the blood sugar level of the body becomes very high. Patients with high blood sugar levels develop polyuria which causes them to frequently urinate or polydipsia and polyphagia which make them excessively hungry and thirsty respectively. The body’s ability to produce or use insulin is heavily impacted. Insulin is a hormone present in the body that is released to transport the energy that is produced by processing the food humans eat. Insulin transports the energy produced by the cells and signals the cell to open and receive sugar. If little or no insulin is present in the body, then a significant amount of sugar gets remained in the blood which can be dangerous.

There are primarily two types of diabetes, type 1 and type 2. Under type 1, the pancreas does not produce insulin and it usually occurs in humans during childhood or adolescence, though it can occur in adults, the possibility is less. Under type 2 diabetes, the body is not able to produce sufficient insulin or use it properly.  It occurs generally after the age of 45. Various factors can contribute to the growth of type 2 diabetes such as genetic conditions, extra weight, high cholesterol, high blood pressure, and bad communication between cells. Moreover, there is gestational diabetes which affects women during pregnancy.

Market Dynamics

Diabetes care devices are manufactured with the aim to help the patient in the management or monitoring of blood sugar levels due to inadequate insulin production or insulin resistance.  Devices such as glucose monitoring devices and insulin delivery devices are instruments used for diabetes care. The diabetes care market is predominantly driven by the rising number of diabetic cases across the globe, improved research and development activities on diabetes in combination with increasing collaborations and investment by various market players. Moreover, factors like innovative technologies used for diabetic care devices, improper diet or erratic lifestyle, and increasing need for faster and safer diagnosis and treatment of diabetes drive this market globally. Increased knowledge about this disease, the wide scope of penetration in untapped and emerging markets also contribute to market growth.  However, factors like high price charged with diagnosis and treatment of diabetes, low awareness regarding reimbursement issues and patent expiry, and astringent framework that controls the diabetic procedures act as impediments to the market growth.

Geographic outlook

North America and Europe are the largest markets for global diabetes care owing to the increasing awareness across their population about diabetes symptoms and the adverse effect of high glucose levels in the blood. Furthermore, strong healthcare infrastructure, better research, and technological advancements, as well as the rising interest of the public in better healthcare facilities, create an opportunity for the diabetes care device market in this region. The government spending for the health sector also provides an impetus for the growth of this market in this region. The market for diabetes care in Europe is witnessing an upward trend on account of the presence of a good chunk of the adult population with diabetes. Hence, the presence of a diabetic population in Europe signifies the market boost for the diabetes care market in the region. Furthermore, technological advancements and healthcare research and development activities also impact market growth significantly. APAC region also provides tremendous opportunities for its two gigantic countries India and China are home to many diabetic patients.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and more efficient understanding of the global diabetes care market.

Major industry players profiled as part of the report are Roche Products Limited, Johnson & Johnson Services, Inc., Sanofi-Deutschland GmbH, Novo Nordisk A/S, Ypsomed AG, Ascensia Diabetes Care Holdings AG, Medtronic, Dexcom, Inc., and ARKRAY USA, Inc. among others.

Segmentation

The Global diabetes care market has been analyzed through the following segments:

By Devices

Blood Glucose Meters and Strips

Continuous Glucose Monitors (CGMs)

Flash Glucose Monitoring Device

Injection Pens

Insulin Pumps

Automated Insulin Delivery Systems

By Drugs

Injectable

Oral

By End-User

Hospitals

Ambulatory Care Units

Home Care

By Geography

North America

United States

Canada

Mexico

Others

South America

Brazil

Argentina

Others

Europe

United Kingdom

Germany

France

Italy

Others

Middle East and Africa

Saudi Arabia

United Arab Emirates

South Africa

Others

Asia Pacific

Japan

Korea

China

India

Others