Diabetes Management Market – Global Industry Analysis and Forecast (2023-2029)

Diabetes Management Market CAGR is expected to be 23.7% during the forecast period and the market size is expected to reach nearly US$ 57.83 Bn. by 2029.

The report focuses on the diabetes management market value at the top regions and countries of the world, which shows a regional development, including market size, share, revenue, and much more across the globe. The report has covered, capacity, production value, cost/profit, and supply/demand by statistical analysis. A brief analysis of drivers, restraints, opportunities, and challenges in the market is also covered with examples by region.To know about the Research Methodology :- Request Free Sample Report
Diabetes Management Market Introduction and Market scenario:
Diabetes, scientifically identified as diabetes mellitus, is a clinical condition where a person has a higher blood glucose level. It happens because of either inefficiency of the pancreases to produce insulin (Type I) or unresponsiveness of body cells to the produced insulin (Type II) or both. This condition especially results in polyuria, increase in thrust and hunger.

The rising occurrence of diabetes is the main factor driving the demand for diabetes management devices and anti-diabetic drugs. The growing elderly population, the global rising prevalence of diabetes, increasing acceptance of novel drugs such as incretin & dipeptidyl inhibitors, technological advancements in diabetes devices, and the existence of government initiatives are other factors attributed to the market growth over the forecast period.

According to, the International Diabetes Federation, in 2022, approximately 463 million people were living with diabetes and this number is expected to reach 700 million by 2045. Such a fast-increasing rate of diabetes population has fueled the demand for insulin management and delivery devices over the past few years and is expected to increase further in the future.

The increasing occurrence of obesity and the growing inclination for combination therapy across the globe is expected to support market growth. The manufacturers of insulin pens are inclined on including advanced features to the product such as an easy interface for diabetes patients. For example, in 2022, Medtronic launched the latest version of its smart insulin pen, which features integrated continuous glucose monitoring (CGM). According to the company, it is the first-ever "connected" device designed for diabetes patients using multiple daily injections of insulin.

However, the high cost of devices and therapeutics is expected to control the market growth over the forecast period. Also, the global diabetes management market suffers from some of the serious restraints that are, counterfeiting of drugs, lack of healthcare personnel in some countries such as Russia, cost sensitivity, and limited infrastructure for management.
COVID-19 Impact on Global Diabetes Management Market:
Diabetes management is an important healthcare area that demands regular care and attention. Now, the COVID-19 pandemic has significantly changed the digital healthcare industry. During the hard times of COVID-19, many diabetic patients have obtained digital solutions for diabetes management, which is added as a boost to the global market and has unlocked new growth opportunities.
Diabetes Management Market Segment Overview:
The diabetes management market is segmented by type of devices into monitoring, diagnostic, insulin delivery, and other devices. Among these, the monitoring device type, the blood glucose meters segment is expected to dominate the market during the forecast period due to the increasing need for blood glucose level monitoring to manage diabetes efficiently. Also, the insulin delivery devices have increased its sale to favorable value, which has resulted in improvement in insulin delivery technology. In the insulin delivery devices segment, insulin pens are expected to grow at the highest CAGR of XX% during the forecast period, on accounts of it is more popular as they are less painful in usage.

The global diabetes management market is segmented by therapeutics into two broad categories, namely injectables and orally administered drugs. Among these, the injectables segment is expected to hold the largest market share of XX% in the diabetes management market in the future, due to the rising inclination for insulin from patients. The dipeptidyl inhibitors segment is expected to register relatively higher market growth owing to its safe nature and once-daily dose regimen.
Diabetes Management Market Regional Insights:
The diabetes management market is segmented into North America, Europe, Asia Pacific, and Latin America, and ME&A. BRICS countries are expected to hold the largest market share of XX% of the market, due to the growing geriatric population and increasing incidences of diabetes in Brazil, Russia, India, China, and South Africa. Also, North America is expected to grow at the highest CAGR of XX% in the future, attributed to the changing lifestyle of individuals and rising prevalence of diabetes & obesity in the U.S., Canada, and Mexico.

The Asia Pacific is the second-largest market for the diabetes management market. This is mainly because of the high incidences of diabetes and a large pool of an aged population. The developing country in the Asia Pacific such as China is growing as one of the major pharma markets for diabetes care and management.
Recent Industry Development:
On June 15, 2021, Abbott Laboratories has received FDA clearance for its new continuous glucose meter, which is Freestyle Libre2. This new device is another challenger in the growing market for CGM. The new device is used in children above 4years and adults too, and this is applied on the back of the upper arm. This new version adds an advantage for users in setting the alarm in people whose glucose levels are too high or low.

On February 19, 2021, Dexcom collaborates with DreaMed to couple Dexcom continuous glucose monitors, and the DreaMed Advisor is a digital solution that generates insulin delivery by investigating information from continuous glucose monitoring self-monitoring blood glucose, and insulin delivery devices.

On April 30, 2021, Roche Diagnostics has announced free access for the mySugr Pro app in assisting millions of people who have diabetes to maintain their personalized daily diabetes during the COVID-19 crisis.
The objective of the report is to present a comprehensive analysis of the Global Diabetes Management Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Market dynamics, structure by analyzing the market segments and project the Global Diabetes Management Market size. Clear representation of competitive analysis of key players by application, price, financial position, product portfolio, growth strategies, and regional presence in the Global  Market make the report investor’s guide.
Key Highlights:
Global Market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Market

Global Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

The Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Diabetes Management Market Scope: Inquire before buying



Global Diabetes Management Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 13.04 Bn.


Forecast Period 2023 to 2029 CAGR:
23.7 %
Market Size in 2029:
US $ 57.83 Bn.


 Segments Covered:
by Device Type
Monitoring Devices
Blood Glucose Meters
Lancets
Blood Sampling Devices
Diagnostic Devices
Hemoglobin A1c
Hemoglobin A1c Kits
Hemoglobin A1c Meters
Insulin Delivery Devices
Insulin Pumps
Insulin Pens
Disposable Insulin Pens
Insulin Syringes
Reusable Insulin Pens
Other Devices
Artificial Pancreas
Commercial Software
Software Programs for Diabetes Monitoring
Web Software


by Therapeutics
Injectables
Insulin
Exenatide
Oral Drugs
Metformin
Sulfonylureas
Alpha glycosidase Inhibitors
Dipeptidyl Inhibitors
Meglitinides
Thaizolidinediones
Combination Medications


by Application
Diabetes and Blood Glucose Tracking Apps
Obesity
Diet Management Apps


by End Use
Home Healthcare
Hospitals
Specialty Diabetes Clinics



Diabetes Management Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. Abbott Laboratories
2. Bayer AG
3. Bristol-Myers Squibb
4. Eli Lilly and Co.
5. Sanofi
6. Dexcom
7. Medtronic
8. Novo Nordisk A/S
9. ZydusCadila
10. BD
11. Merck & Co. Inc.
12. F. Hoffmann-La Roche Ltd
13. Insulet Corporation
14. Life Scan, Inc.
15. B. Braun
16. Tandem Diabetes Care
17. Ascensia Diabetes Care
18. Tidepool
19. Others

Frequently Asked Questions:

1. Which region has the largest share in Global Diabetes Management Market?
Ans: North America region holds the highest share in 2022.

2. What is the growth rate of Global Diabetes Management Market?
Ans: The Global Diabetes Management Market is growing at a CAGR of 23.7 %during forecasting period 2023-2029.

3. What is scope of the Global Diabetes Management market report?
Ans: Global Diabetes Management Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Diabetes Management market?
Ans: The important key players in the Global Diabetes Management Market are – Abbott Laboratories, Bayer AG, Bristol-Myers Squibb, Eli Lilly and Co., Sanofi, Dexcom, Medtronic, Novo Nordisk A/S, ZydusCadila, BD, Merck & Co. Inc., F. Hoffmann-La Roche Ltd, Insulet Corporation, LifeScan, Inc., B. Braun, Tandem Diabetes Care, Ascensia Diabetes Care, and Tidepool

5. What is the study period of this market?
Ans: The Global Diabetes Management Market is studied from 2022 to 2029.