The Global Diabetes Care Devices Market size is expected to reach $29.3 billion by 2028, rising at a market growth of 5.6% CAGR during the forecast period

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Diabetes is a condition in which blood glucose levels rise above standard due to a malfunction in insulin synthesis, which regulates glucose levels. The main source of energy is blood glucose, which is derived from the food people consumes.

New York, July 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Diabetes Care Devices Market Size, Share & Industry Trends Analysis Report By Product, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289232/?utm_source=GNW
Insulin, a pancreatic hormone, keeps blood glucose levels in control. Diabetes is caused by a deficiency in the manufacture of insulin in the body, which makes it unable to control blood glucose levels. Normal blood glucose levels range from 70 to 100 mg/dL, while diabetic patients’ levels range from 80 to 130 mg/dL. Diabetes care gadgets are used to keep track of a diabetic’s blood glucose levels. A continuous glucose monitor is a medical gadget that continuously tracks and monitors a diabetic patient’s blood glucose levels throughout the day. People with diabetes would benefit from this wearable device since it can help them in managing their glucose levels. Ketone monitors, insulin pumps, blood glucose monitors, continuous glucose monitors, smart insulin pens, as well as diabetes management applications are all examples of diabetic monitoring devices. Glucose monitoring devices aid in the maintenance and control of glucose levels, hence enhancing the patient’s health.

According to the American Diabetes Association, the organization is adding a special section on diabetes technology to the Standards of Medical Care in Diabetes for the first time to provide more clarity in the diabetes technology space. The section would focus on insulin delivery along with glucose monitoring with the most popular tools currently in use for this first authoring. This section would be updated in the coming years to incorporate topics like software as a medical device, cost, privacy, technology-enabled diabetes education and support, telemedicine, and other issues that physicians and patients face when using technology in modern diabetes treatment.

Abbott and Novo Nordisk formed non-exclusive cooperation in February 2019. This collaboration is intended to improve diabetes digital solutions. The data collected by Novo Nordisk prefilled durable linked pens will be represented in the digitally connected FreeStyle Libre system via the FreeStyle LibreLink mobile app and the LibreView cloud-based system as part of this agreement. Healthcare practitioners can study both glucose and insulin data simultaneously thanks to this technology integration, which could make diabetes management easier.

COVID-19 Impact

The COVID-19 pandemic had a positive impact on the diabetes care devices market. This was due to the fact that people with various health concerns, such as diabetes and high blood pressure, were more likely to contract the virus. Patients with diabetes had a higher mortality rate than the overall population. Diabetes patients require constant insulin administration (through syringes or pens) and care. As a result of the widespread use of insulin pens and constant glucose monitoring devices, the demand for close diabetes monitoring and care was increased. In addition, diabetic patients are more likely to contract COVID-19, which is driving up demand for diabetes devices in both hospital and home care settings. Diabetes devices are in growing demand because they help diabetic people avoid lengthier hospital stays as well as higher mortality rates.

Market Growth Factors

Rising incidences of diabetes across the world

The number of people with diabetes is rapidly increasing all over the world in recent years. It is becoming one of the deadliest diseases in the worldwide population. Diabetes and its consequences were estimated to kill around 4 million people aged 20 to 79 years in 2020. This corresponds to one death every eight seconds. Diabetes is considered to be responsible for 11.3% of all fatalities among adults in this age group worldwide. According to the American Association of Clinical Endocrinologists, recent research has found that 22.2 percent to 26.9% of people hospitalized for the serious condition have diabetes. In hospitalized Coronavirus patients, diabetes and high glucose levels are linked to increased health problems, respiratory failure, and fatality.

An increasing number of technological enhancements in diabetes care approaches

In the modern era, various advanced and next-gen technologies are being introduced all over the world. In the healthcare sector, technology is becoming an essential part of processes, increasing its demand. Moreover, technology is also playing a major role in enhancing the life quality of people. The integration of new and advanced technologies in diabetes care devices is increasing the efficiency and precision of these devices. One of the primary factors driving the diabetes care devices market is the introduction of novel technologies and products in diabetes monitoring treatment devices and systems. Various market players are significantly increasing their investments in bringing several technology-rich diabetes care devices, which is increasing the demand for these products across people.

Market Restraining Factors

The increased cost of artificial insulin

In diabetes treatment, artificial insulin is used in order to help the body to eliminate excess blood glucose levels that the body itself is not capable to eliminate. Artificial insulin is injected into the body of the patient through a computed or a regular syringe. The market shift from relatively low-cost human insulin to more expensive analogs (synthetic insulins) is putting unbearable financial strain on low-income countries. Human insulin is equally effective as analogs in most cases, but analogs are at least 1.5 times more expensive, and in certain cases three times more expensive. Three multinational businesses control more than 90% of the insulin industry, leaving little room for smaller companies to compete in terms of sales. Insulin costs in the world are increasing, compelling diabetics and their families to make difficult decisions.

Product Outlook

Based on Product, the market is segmented into Insulin Delivery Devices and Blood Glucose Monitoring Devices. In 2021, the insulin delivery devices segment acquired the largest revenue share of the diabetes care devices market. The growth of this segment is attributed to a number of factors, including an increase in the adoption of unhealthy lifestyles and an increase in the prevalence of type 1 as well as type 2 diabetes around the world.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the largest revenue share of the diabetes care devices market. The rising growth of the regional market is owing to the rising prevalence of diabetes, rising healthcare expenditures, and the increased presence of important insulin syringe manufacturers. In addition, the early adoption of technologies in this region is also a major factor that is estimated to derive the regional market during the forecast period.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; F. Hoffmann-La Roche Ltd. is the forerunner in the Diabetes Care Devices Market. Companies such as Novo Nordisk A/S, Abbott Laboratories and Sanofi S.A. are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F. Hoffmann-La Roche Ltd., DexCom, Inc., Novo Nordisk A/S, Sanofi S.A., Zealand Pharma A/S, B. Braun Melsungen AG, Bayer AG, Abbott Laboratories, Ypsomed AG, Arkray, Inc.

Recent Strategies deployed in Diabetes Care Devices Market

Partnerships, Collaborations and Agreement:

May-2022: ARKRAY partnered with Rimidi, a leader in the clinical management platform. Under this partnership, the companies aimed to integrate ARKRAY’s GLUCOCARD Shine Connex Blood Glucose Monitoring System into the Rimidi Platform to optimize blood glucose data for patients and doctors. In addition, this partnership would also offer a deep insight into patients’ blood glucose data to doctors, which would derive more informed clinical decisions.

Apr-2022: Abbott, partnered with Ypsomed, a leader in developing injection and infusion systems. Through this partnership, the companies aimed to develop and market an integrated automated insulin delivery in order to help in reducing the burden of diabetes management for diabetic patients by offering a product that eliminates the requirement for insulin injection at every particular time period.

Apr-2022: Roche Diabetes Care India came into a partnership with Fitterfly Healthtech, a leading Digital Therapeutics company in India. Through this partnership, the companies aimed to launch a 90-day diabetes management program for patients with type 2 diabetes in order to improve therapy adherence and enhance outcomes.

Mar-2022: Ypsomed came into a partnership with CamDiab, a personalized medicine, and digital health company. Through this partnership, the companies aimed to roll out CamAPS FX in order to allow diabetic people to manage their automated insulin delivery through a mobile app.

Mar-2022: Sanofi signed a five-year agreement with DarioHealth, a digital health company. Following this agreement, Sanofi would ingrate its product on Dario’s platform. Moreover, Dario would leverage Sanofi’s sales teams in order to market its prevailing products.

Jan-2022: Roche partnered with Glytec, an insulin management software company. Following this partnership, Glytec’s Glucommander would be integrated into the newly launched Cobas pulse of Roche to benefit numerous hospital patients and doctors.

Oct-2021: Roche teamed up with Zur Rose Group, an e-commerce pharmacy. Under this collaboration, the companies would mutually focus on optimizing the daily therapy management of diabetic patients along with their doctors.

Oct-2021: Dexcom partnered with LovedBy, a consultancy and technology company. With this partnership, the companies aimed to bring personalized and contextual educational content to young patients with Type-1 diabetes in order to help them in coping with their condition.

Sep-2021: Novo Nordisk came into an agreement with BIOCORP, an innovative medical devices company. Following this agreement, the companies would focus on developing and commercializing a Mallya smart add-on device for the FlexTouch pen of Novo Nordisk.

May-2021: Roche entered into an agreement with Eli Lilly and Company, a leader in diabetes care solutions. Following this agreement, the companies would increase their efforts in boosting the optimization of insulin pen therapy management.

Arp-2021: Dexcom came into a partnership with Welldoc, a leader in digital health. With this partnership, the companies aimed to incorporate the impact of lifestyle choices with glucose monitoring in order to enhance the health of patients with Type-2 diabetes.

Mar-2021: Roche signed a multi-year research collaboration and licensing agreement with SemaThera, a biotech company. With this agreement, the companies aimed to focus on the development of SemaThera’s new category of biologicals to cure diabetic retinopathy along with other ischemic retinal diseases.

Nov-2020: Ypsomed came into an agreement with Eli Lilly, a pharmaceutical company. Following this agreement, the companies aimed to develop an automated insulin delivery system to regulate blood glucose levels in people with diabetes. Moreover, Eli Lilly would commercialize the new automated insulin delivery system across the US as well as the European market.

Sep-2020: Sanofi partnered with Health2Sync, a digital health startup. Under this partnership, Health2Sync would offer digital solutions, including patient management software and a mobile app, to 300 hospitals and clinics contracted by Sanofi with the aim to provide digitized and integrated digitized diabetes management.

Sep-2020: DexCom entered into a five-year collaboration agreement with the University of Virginia, a public research university. Through this agreement, the companies aimed to accelerate its R&D efforts on CGM-based solutions to advance the automated insulin delivery technology of Dexcom.

Jun-2020: Abbott signed an agreement with Tandem Diabetes Care, a medical device manufacturer. Following this agreement, the companies would manufacture and market integrated diabetes solutions with the integration of Tandem’s innovative insulin delivery systems and the world-leading continuous glucose monitoring technology of Abbott.

May-2020: Bayer signed a commercial agreement with WaveForm Technologies, a subsidiary of AgaMatrix. Through this agreement, the companies aimed to offer innovative and advanced glucose monitoring solutions to doctors and patients across China.

Apr-2020: Ypsomed came into a partnership with DexCom, a leader in providing CGM systems. Under this partnership, the companies would develop a hybrid closed loop system with the full integration of the therapy management solution of Ypsomed and Dexcom’s G6 sensors-derived glucose values.

Feb-2020: DexCom signed a global commercialization agreement with Insulet Corporation, a medical device company. Under this agreement, the companies would integrate future and current continuous glucose monitoring systems of Dexcom with Insulet’s best-in-class tubeless insulin delivery Pod into the Omnipod Horizon System for automated insulin delivery.

Feb-2020: DexCom partnered with DreaMed Diabetes, a personalized diabetes management solutions developer. This partnership would allow a seamless CGM data transfer from Dexcom to DreaMed Advisor.

Feb-2020: Abbott teamed up with Insulet, a medical device company. Through this collaboration, the companies aimed to integrate the blood glucose sensing technology of Abbott into Insulet’s Omnipod Horizon automated insulin delivery system in order to deliver automated and customized insulin delivery to diabetic patients.

Product Launches and Product Expansions:

May-2022: Roche released ACCU-FINE, quality pen needles. This launch aimed to streamline the process of delivering insulin to provide better diabetes management to patients with diabetes.

Apr-2022: DexCom rolled out its ONE Continuous Glucose Monitoring in the UK. Through this launch, the company aimed to offer a real-time CGM at more affordable rates. Moreover, the new system would be more accessible to diabetics across the UK.

Aug-2021: Zealand Pharma rolled out ZEGALOGUE Injection in the US. With this launch, the company aimed to advance its pipeline programs in distinct therapeutic sectors. In addition, the new product is commercialized in both prefilled syringes and auto-injector forms for the treatment of patients with severe hypoglycemia aged above 6 years.

Mar-2021: Roche rolled out the Accu-Chek Instant system, a connected blood glucose monitoring system. The new product would enable and support the integrated Personalised Diabetes Management approach of Roche, a holistic patient-centered therapeutic approach.

Acquisitions and Mergers:

Dec-2021: Novo Nordisk completed its acquisition of Dicerna Pharmaceuticals, a biopharmaceutical company. Through this acquisition, the company aimed to integrate Dicerna’s ribonucleic acid interference platform into its prevailing research technology platforms to complement its vision of leveraging a wide line of technology platforms applicable all over Novo Nordisk’s therapeutic focus areas.

Approvals and Trials:

Feb-2022: Bayer received the EU approval for its Kerendia, a new treatment for adult patients with chronic kidney disease linked with type 2 diabetes. This approval aimed to offer a solution to physicians in order to reduce the risk of cardiovascular incidents while delaying the progression of kidney disease in patients.

Aug-2021: Abbott received the US FDA approval for its FreeStyle Libre 2 iOS application, an application for measuring glucose levels to regulate diabetes. Through this approval, the company aimed to offer a cost-effective and accessible glucose monitoring application based on the sensor to allow users to check their glucose levels on their iPhones.

May-2021: Zealand Pharma received the FDA approval for its Zegalogue injection. Following this approval, the company would commercialize Zegalogue in order to help diabetic people in recovering from severe hypoglycemia.

Scope of the Study

Market Segments covered in the Report:

By Product

• Insulin Delivery Devices and

• Blood Glucose Monitoring Devices

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• F. Hoffmann-La Roche Ltd.

• DexCom, Inc.

• Novo Nordisk A/S

• Sanofi S.A.

• Zealand Pharma A/S

• B. Braun Melsungen AG

• Bayer AG

• Abbott Laboratories

• Ypsomed AG

• Arkray, Inc.

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• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
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