DIABETES CARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global diabetes care market is estimated to be valued at USD 31.69 Bn in 2024 and is expected to exhibit a CAGR of 8.7% during the forecast period (2024-2031). Diabetes is a chronic metabolic disease that affects how the body utilizes glucose. The number of people diagnosed with diabetes has been steadily increasing over the years. In July 2022, according to the International Diabetes Federation, over 537 million adults were living with diabetes in 2021 which is projected to grow to 700 million by 2045. The rising prevalence of the disease has led to an increased demand for diabetes care products and services globally. The diabetes care market covers blood glucose monitoring devices like glucometers, test strips, lancets and monitoring systems, insulin delivery devices like insulin pens, pumps, and injectors, and diabetes management apps and software.
Market Dynamics:
The global diabetes care market growth is driven by the growing diabetes patient pool, increasing awareness about diabetes self-management, advancement of diabetes management technologies, and government initiatives to curb the burden of the disease. However, high device costs, limited medical reimbursement in many countries, and risk of inaccurate readings with some devices restrain the market growth. On the other hand, development of artificial pancreas devices that automatically regulate blood glucose levels, ongoing R&D to develop oral insulin formulations, and islet cell transplantations create lucrative opportunities in the market.
Key Features of the Study:
- This report provides in-depth analysis of the global diabetes care market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global diabetes care market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Medtronic, Abbott, Pumps It, Inc., Embecta Corp, Insulet Corporation, Ypsomed AG, Roche AG, Tandem Diabetes Care, Inc., Terumo, Novo Nordisk A/S, SOOIL Developments Co., Ltd, Microtec Medical Ltd, ViCentra B.V., CeQur Corporation, and Dexcom, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global diabetes care market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global diabetes care market
Market Segmentation
Table of Contents
*Browse 34 market data tables and 32 figures on 'Diabetes Care Market' - Global forecast to 2031
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