Hyderabad, Aug. 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "North America Diabetes Care Devices Market Report (2023-2028)," the market is estimated at USD 25.91 billion in 2023. It is expected to register a CAGR of 6.21% during the forecast period.
Patients with diabetes can monitor and keep their blood glucose levels in control using diabetes equipment. Diabetes devices can improve a person’s diabetes status.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 25.91 billion |
| Market Size (2028) | USD 35.02 billion |
| CAGR (2023-2028) | 6.21% |
| Study Period | 2017-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing diabetic population. |
| The need to control blood glucose levels. |
Who are the Top Companies in the North America Diabetes Care Devices Market?
The market is highly competitive, with various players operating on the regional level. Companies are adopting strategies like innovating products to expand their business operations in the market. Significant players in the North American diabetes care devices market are,
- Becton Dickinson and Company
- Medtronic
- F. Hoffmann-La Roche AG
- Insulet
- Abbott
- Dexcom
- Tandem
- Ypsomed
- Novo Nordisk
- Sanofi
- Eli Lilly
Other Reports That Might Be of Your Interest:
- Malaysia Diabetes Care Drugs Market Report - The Malaysian diabetes care drugs market value is estimated at USD 357.17 million in 2023. It is expected to reach USD 416.08 million by 2028, registering a CAGR of 3.10% during the forecast period (2023-2028).
- Germany Diabetes Care Devices Market Report - The German diabetes care devices market size is estimated at USD 2.14 billion in 2023. It is expected to reach USD 2.88 billion by 2028, registering a CAGR of 6.07% during the forecast period (2023-2028).
Key Highlights from the North America Diabetes Care Devices Market Report:
Demand for Monitoring Devices Driving the Market
- Monitoring devices are gaining popularity due to the availability of reimbursement options for glucose meters. Glucose meters are costly, and they should be replaced in six to eight months. Therefore, most people prefer to go for health insurance plans that cover 80% of the total healthcare costs.
- CGM devices are growing in demand in North America as they use advanced technology and can empower people with diabetes to make informed decisions about their health.
United States to Dominate the Market
- The United States is expected to register massive growth in the market due to the high prevalence of obesity in the country and the increasing awareness of diabetes care.
- New product launches in insulin pump devices are driving the US market. For example, Medtronic received FDA approval for its new infusion set, which features extended wearability and can last longer than existing infusion sets.
What are the Latest Developments in the North America Diabetes Care Devices Market?
- In March 2022, Dexcom released G7 first in the United Kingdom and expanded the launch across Europe.
- In January 2022, Insulet Corp. announced the FDA approval of its Omnipod 5 system, marking its entry into the automated insulin delivery ecosystem.
Mordor Intelligence has Segmented the North America Diabetes Care Devices Market Based on Product and Geography:
- By Product (Market Size and Forecast based on Value (USD billion), 2017-2028)
- Monitoring Device (Value and Volume, 2017-2028)
- Self-monitoring Blood Glucose Devices
- Glucometer Devices
- Blood Glucose Test Strips
- Lancets
- Continuous Glucose Monitoring
- Sensors
- Durables
- Management Devices (Value and Volume, 2017-2028)
- Insulin Pump
- Insulin Pump Device
- Insulin Pump Reservoir
- Infusion Set
- Insulin Syringes
- Cartridges in Reusable Pens
- Insulin Disposable Pens
- Jet Injectors
- Insulin Pump
- Monitoring Device (Value and Volume, 2017-2028)
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- United States (Value and Volume, 2017-2028)
- By Monitoring Devices
- By Management Devices
- Canada (Value and Volume, 2017-2028)
- By Monitoring Devices
- By Management Devices
- Rest of North America (Value and Volume, 2017-2028)
- By Monitoring Devices
- By Management Devices
- United States (Value and Volume, 2017-2028)
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the North America Diabetes Care Devices Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Canada Diabetes Care Drugs and Devices Market Report - The Canadian diabetes care drugs and devices market size is estimated at USD 5.37 billion in 2023. It is expected to reach USD 6.77 billion by 2028, registering a CAGR of 4.75% during the forecast period (2023-2028).
- Diabetes Care Drugs Market Report - The diabetes care drugs market size is estimated at USD 84.56 billion in 2023. It is expected to reach USD 100.48 billion by 2028, registering a CAGR of 3.51% during the forecast period (2023-2028).
- Japan Diabetes Care Devices Market Report - The Japanese diabetes care devices market size is estimated at USD 8.22 billion in 2023. It is expected to reach USD 9.56 billion by 2028, with a CAGR of 3.07% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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