The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s diabetes care devices market report forecasts the diabetes care devices market size to grow to $80.06 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Diabetes Care Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/diabetes-care-devices-global-market-report

Diabetes Care Devices Market Size Forecast
The global diabetes care devices market is expected to grow from $58.63 billion in 2022 to $62.94 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diabetes care devices market is expected to grow to $80.06 billion in 2027 at a CAGR of 6.2%.

North America held the largest diabetes care devices market share.

Key Diabetes Care Devices Market Driver ­– Rise In Busy Lifestyles And Changing Consumer Preferences
For instance, according to WHO data 2021, more than 95% of people with diabetes have type 2 diabetes. According to a World Health Organization (WHO) report, 74% of men and 64% of women in the UK, for instance, are expected to be overweight by 2030. These factors are expected to increase the patient pool of diabetes. For instance, according to IDF data 2021, nearly 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. These factors are expected to aid the market growth in the forecast period.

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Key Diabetes Care Devices Market Trend – Developing And Commercializing Glucose-Responsive Insulins
Pharmaceutical companies are investing in developing and commercializing glucose-responsive insulins (GRIs), providing significant opportunities for the development of new types of insulin delivery devices. For example, Novo Nordisk, a Danish pharmaceutical company, has planned to develop GRIs by acquiring UK biotech start-up Ziylo with an investment of $800 million. Companies such as Eli Lily and Sanofi have also planned research projects to develop GRIs. GRIs are ‘smart’ insulins that automatically activate or deactivate in response to changing glucose levels in the blood. They improve diabetes treatment efficacy and reduce the incidence of hyperglycemia and hypoglycemia.

Diabetes Care Devices Market Segment
1) By Type: Blood Glucose Test Strips, Insulin Pens, Syringes, Pumps And Injectors, Lancing Devices And Equipment, Continuous Glucose Monitoring Devices And Equipment, Blood Glucose Meters
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables

Subsegments Covered: Glucose Dehydrogenase, Glucose Oxidase, Pens, Injectors And Pumps, Syringes

Diabetes Care Devices Market Major Players and Strategies
Major players in the diabetes care devices market are Abbott Laboratories, Novo Nordisk, Medtronic Inc., Dexcom, Inc., F. Hoffmann-La Roche Ltd., Becton Dickinson, Insulet, Ypsomed, ConvaTec Group Plc, and B. Braun Group.

The Diabetes Care Devices Global Market Report 2023 covers regional data on diabetes care devices market size, diabetes care devices market trends and drivers, opportunities, strategies, and diabetes care devices market competitor analysis. The countries covered in the diabetes care devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Diabetes care devices are used to monitor and control blood glucose levels in diabetic patients.

View More Reports Related To The Diabetes Care Devices Market –
Glucose Global Market Report 2023
Blood Glucose Meters Global Market Report 2023
Continous Blood Glucose Monitoring Global Market Report 2023

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