Diabetic Care Market Size to Reach USD 41.71 Billion in 2027 | Industry Trend – Introduction of advanced monitoring systems
Emergen Research has published its latest report titled “Diabetic Care Market By Devices (Monitoring Devices, Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, Jet Injectors), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Diabetic Clinics, Online Pharmacies, Others), By End Use (Hospitals, Homecare, Diagnostic Centers) and By Region Forecasts to 2027”
According to Emergen Research, the global diabetic care market size was USD 22.70 billion in 2019 and is expected to reach USD 41.71 billion in 2027 and register a revenue CAGR of 7.9% during the forecast period, 2021-2028.
Diabetes is a common chronic condition that occurs either when pancreas does not produce enough insulin or body cannot effectively utilize it for regulating blood sugar. Around 6.7 million deaths due to diabetes were recorded in 2021. Factors responsible for increasing prevalence of diabetes worldwide are rising obesity rate, increasing adoption of sedentary lifestyle, unhealthy eating lifestyle, and lack of physical activities.
In recent years, there has been rapid advancements in diabetic care and management. Diabetic devices are widely used for monitoring blood glucose levels in diabetic patients. Insulin pumps, insulin syringes, insulin cartridges, disposable pens, and jet injectors are some of the commonly used diabetic care devices. Diabetic care devices are rapidly gaining traction owing to rising prevalence of diabetes across the globe, and rising geriatric population. Factors such as technological advancements in diabetic care devices, government initiatives to create awareness about diabetes and diabetes management, and increasing investments in research and development activities are expected to fuel market growth during the forecast period.
However, factors such as high cost of advanced diabetes management systems, availability of non-invasive alternative treatments, and lack of knowledge about monitoring devices in certain developing countries are key factors expected to hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Homecare Segment to Register Steady Revenue Growth:
The homecare segment is expected to register a steady revenue growth over the forecast period. This can be attributed to growing geriatric population, increasing prevalence of diabetes across the globe, increasing awareness about diabetes care, and increasing demand for self-monitoring diabetes devices. In addition, various market players are focused on developing advanced home monitoring devices.
Monitoring Devices Segment to Account for Largest Revenue Share:
The monitoring devices segment is expected to account for largest revenue share during the forecast period owing to large patient pool, availability of advanced monitoring systems, rising geriatric population, and increasing adoption of self-monitoring devices.
North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period. This can be attributed to factors such as increasing prevalence of diabetes across the region, high risks of diabetes due to obesity and sedentary lifestyle, and rapid advancements in diabetic care management. In addition, favorable reimbursement schemes, presence of well-developed healthcare systems, and increasing demand for self-monitoring glucose devices are expected to fuel North America market growth during the forecast period.
Major Companies in the Market Include:
- Medtronic plc
- B. Braun
- DexCom, Inc.
- F. Hoffman-La Roche Ltd.
- Ascensia Diabetes Care Holdings AS
- Becton Dickinson and Company
- MicroGene Diagnostic Systems Pvt. Ltd.
- AgaMatrix Holdings LLC
- Acon Laboratories, Inc.
For the purpose of this report, Emergen Research has segmented into the global Diabetic Care Market on the device, distribution channel, end user and region:
Device Outlook (Revenue, USD Billion; 2017-2027)
- Monitoring Devices
- Insulin Pumps
- Insulin Syringes
- Insulin Cartridges
- Disposable Pens
- Jet Injectors
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Hospital Pharmacies
- Retail Pharmacies
- Diabetes Clinics
- Online Pharmacies
End Use Outlook (Revenue, USD Billion; 2017-2027)
- Diagnostic Centers
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- This study segments the Diabetic Care market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Diabetic Care sectors.
- This Diabetic Care report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Diabetic Care market.
Key features of the report:
- To study the key aspects impacting the Diabetic Care market size.
- To identify growth prospects in the Diabetic Care market.
- To analyze the Diabetic Care market segments and deduce the dominant trends observed in the industry.
- To examine the Diabetic Care market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Diabetic Care market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Diabetic Care Market Segmentation & Impact Analysis
4.1. Diabetic Care Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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