The Global Diabetes Care Devices Market in terms of revenue was estimated to be worth $1.7 billion in 2020 and is poised to reach $4.3 billion by 2025, growing at a CAGR of 16.2% from 2020 to 2025. Factors such as the increasing diabetic population, the rising awareness of diabetes treatment and management, and favorable national health strategies are expected to drive the growth of this market.

 

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The diabetes management mobile applications segment is projected to grow at the highest CAGR during the forecast period

Within the type segment, the market is segmented into blood glucose monitoring systems, insulin delivery devices, and diabetes management mobile applications. The diabetes management mobile applications segment is projected to grow at the highest rate during the forecast period, driven by its convenience, simplicity of use, and utility in providing real-time insights regarding diabetic conditions to patients and healthcare professionals for integrated diabetes management.

China held the largest share in the diabetes care devices market.

China held the largest share in the market in 2019. This dominance is due to the high population of diabetics in the country and increasing government funding for diabetes management and the diabetes care devices industry. India is expected to register the fastest growth during the forecast period, primarily due to opportunities presented by the country, especially in terms of the growing usage of mHealth (mobile health), which supports the diabetes management mobile applications segment.

The prominent players operating in the diabetes care devices market are Medtronic plc (Ireland), B. Braun (Germany), DexCom, Inc. (US), Abbott (US), F. Hoffman-La Roche Ltd. (Switzerland), Ascensia Diabetes Care Holdings AS (Switzerland), LifeScan (US), AgaMatrix Holdings LLC (US), Acon Laboratories, Inc. (US), ARKRAY USA, Inc. (US), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Sanofi (France), Terumo Corporation (Japan), SD Biosensor, Inc. (South Korea), MicroGene Diagnostic Systems Pvt. Ltd. (India), Ypsomed (Switzerland), Dr. Morepen (India), Sinocare, Inc. (China), Bionime Corporation (Taiwan), and Rossmax International Ltd. (Taiwan).

  1. Hoffman-La Roche Ltd (US) was the leader in the diabetes care devices (BRIC) market in 2019. The company provides a wide range of blood glucose monitoring systems, insulin delivery devices, and diabetes management mobile applications. It entered into various partnerships, agreements, and collaborations over the past few years. For instance, in November 2018, Roche Diabetes Care (India) partnered with the digital therapeutic company, Wellthy Therapeutics, to offer users the Accu Chek Active System, a clinically validated AI-based digital diabetes coaching solution. Similarly, in October 2018, Roche Diabetes Care signed an agreement for collaboration with Novo Nordisk to integrate data from Novo Nordisk’s insulin pens to Roche’s open ecosystem.

LifeScan (US) held the second position in the diabetes care devices (BRIC) market. The company is one of the leading players in the market due to its vast product portfolio. LifeScan has been investing in organic and inorganic growth strategies to expand its service portfolio and broaden its geographical footprint. For instance, in May 2019, the company entered into a non-exclusive agreement with Sanvita Medical, LLC (India), to market continuous glucose monitoring (CGM) sensors.

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Market Drivers

  • Sharp increase in diabetes in the past decade
  • Favorable national health strategies
  • Government-LED endorsement of the medical device industry

 Market Restraints

  • Traditional Chinese medicine as an alternative
  • High cost of advanced diabetes management devices

 Market Opportunities

  • Significant advancements and leveraging of artificial intelligence and big data

 Market Challenges

  • Lack of adherence of patients to recommended diabetes treatment guidelines

Objectives of the Study

  • To define, describe, and forecast the diabetes care devices (BRIC) market by type, end user, and country
  • To provide detailed information about the factors influencing the market growth (such as drivers, opportunities, restraints, and challenges)
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall diabetes care devices (BRIC) market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the size of the diabetes care devices market in Brazil, Russia, India, and China
  • To profile key players in the diabetes care devices (BRIC) market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments, such as mergers and acquisitions; new product/technology launches; expansions; collaborations and agreements; and R&D activities of the leading players in the diabetes care devices (BRIC) market

Recent Developments

  • In February 2020, Abbott (US) received US FDA approval for the use of FreeStyle Libre 14-day Flash glucose monitoring systems in hospitals.
  • In February 2020, Insulet signed a commercialization agreement with DexCom, Inc. (US) to allow its current and future CGM systems to connect to the former’s tubeless insulin pump system, OMNIPOD Horizon system.
  • In April 2020, Ypsomed (Switzerland) entered into a partnership with DexCom, Inc. (US) to integrate its mylife YpsoPump data with Dexcom’s G6 CGM sensors to form a hybrid closed-loop system.
  • In January 2020, LifeScan (US) entered into a partnership agreement with DKSH to provide marketing, sales, regulatory services, as well as distribution and logistics for the sales of LifeScan products in the Philippines, Vietnam, Malaysia, Indonesia, Thailand, Hong Kong, and Taiwan.
  • In December 2019, Eli Lilly and Company (US) announced a global commercialization agreement to integrate DexCom, Inc.’s products into Lilly's personalized diabetes management system, currently in development, to advance the treatment of diabetes.

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