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How Is The Diabetes Care Market Expected To Grow In Terms Of Size?

In recent times, there has been a surge in the expansion of the diabetes care market. It is projected to rise from a worth of $26.79 billion in 2024 to $29.09 billion in 2025, with a compound annual growth rate (CAGR) of 8.6%. The substantial growth experienced in the historical period can be credited to the increase in obesity incidents, the surged demand for continuous monitoring gadgets, the escalation in investment for diabetes research and development, and the amplified demand for personalized diabetes care.

Expectations are high for robust expansion in the diabetes care market size in the upcoming years. By 2029, it is anticipated to reach a value of $40.55 billion, with a compound annual growth rate (CAGR) of 8.7%. The projected growth in this forecast period can be linked to various factors such as a surge in diabetes cases, an expanding elderly population, heightened awareness regarding diabetes control, and improved healthcare accessibility in emerging regions. The forecast period may also witness certain major trends including technological progress in diabetes monitoring, AI incorporation in diabetes care, progress in insulin delivery systems, and the creation of smart insulin devices.

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What Are The Primary Factors Supporting The Diabetes Care Market Expansion?

The escalation in obesity rates is predicted to boost the development of the diabetes care market. Obesity rates denote the proportion of people in a population with a body mass index (BMI) of 30 or above, signifying obesity. The rampant increase in these rates is attributed to the increasing dependence on sedentary ways of living, along with the ubiquitous provision and intake of highly processed foods rich in calories but often lacking in nutritional worth, leading to a disparity between the number of calories consumed and physical exertion. Diabetes care is pivotal in confronting the burgeoning obesity rates, by endorsing healthier lifestyle decisions, enhancing glucose control, and advocating weight management through advanced interventions such as insulin treatment and uninterrupted glucose monitoring systems. For example, in March 2024, the World Health Organization, a Switzerland-based international agency, revealed that in 2022, 390 million adults were underweight, juxtaposed with 2.5 billion adults who were overweight, which included 890 million people deemed obese. Therefore, the climbing obesity rates are facilitating the expansion of the diabetes care market.

Which Segmentation Categories Are Highlighted In The Diabetes Care Market Analysis?

The diabetes caremarket covered in this report is segmented –

1) By Product Type: Glucose Monitoring Devices; Insulin Pumps; Other Product Types

2) By Diabetes Type: Type 2 Diabetes; Type 1 Diabetes; Other Diabetes Type

3) By End User: Hospitals And Clinics; Homecare Settings; Ambulatory Care Settings; Other End Users

Subsegments:

1) By Glucose Monitoring Devices: Blood glucose monitoring (BGM); Continuous glucose monitoring (CGM); Flash glucose monitoring (FGM)

2) By Insulin Pumps: Patch pump; Tethered pump; Implanted insulin pump

Which Market Trends Are Expected To Define The Future Of The Diabetes Care Market?

Diabetes care market’s key players are paying considerable attention to the creation of novel technologies like Automated Insulin Delivery (AID) systems which enhance glucose management. This is done by combining Continuous Glucose Monitoring (CGM) systems with insulin pumps, allowing real-time modifications. AID technology merges CGM with an insulin pump, enabling auto-adjustments of insulin delivery based on real-time glucose levels strengthening diabetes management. In February 2024, Tandem Diabetes Care Inc., a medical equipment manufacturing company in the US specialized in diabetes treatment, unveiled Tandem Mobi, the smallest and strongest automatic insulin delivery device globally. This ground-breaking device features a discreet tubed insulin pump fully manageable through a smartphone application, freeing users from the necessity of a traditional handheld controller. Furthermore, Tandem Mobi is waterproof, rechargeable, and works in compliance with Dexcom’s CGM system to automate insulin delivery employing Tandem’s tried and tested Control-IQ technology.

Which Organizations Are At The Forefront Of The Diabetes Care Market?

Major companies operating in the diabetes care market are F. Hoffmann-La Roche Ltd., Sanofi S.A., Abbott Laboratories, Medtronic plc, Eli Lilly and Company, Novo Nordisk A/S, Boehringer Ingelheim Pharmaceuticals Inc., Terumo Corporation, Dexcom Inc., Dr. Reddy’s Laboratories Limited, SD Biosensor Inc., Insulet Corporation, Tandem Diabetes Care Inc., LifeScan Inc., Ypsomed AG, Ascensia Diabetes Care Holdings AG, B. Braun Melsungen AG, Bionime Corporation, Arkray Inc., ACON Laboratories Inc., ViCentra B.V., Microtech Medical Ltd., Sinocare Inc., MicroGene Diagnostic Systems Pvt. Ltd.

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Which Geographic Regions Are Creating Strong Demand In The Diabetes Care Market?

North America was the largest region in the diabetes care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diabetes care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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