According to the recent study the diabetes device market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 12% to 14% from 2023 to 2028. Growth in this market is primarily driven by increasing prevalence of obesity and diabetes, growing health consciousness and awareness regarding diabetes, development of advanced diabetes devices, and increasing adoption of insulin delivery devices.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in diabetes device market by product type (blood glucose monitoring and insulin delivery devices), distribution channel (hospital pharmacies, retail pharmacies, diabetes clinics/centers, online pharmacies, and others), end use industry (hospitals, homecare, and diagnostic centers), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Insulin delivery devices market is expected to remain the largest segment during the forecast period.”
Based on product type, the diabetes device market is segmented into blood glucose monitoring and insulin delivery devices. Lucintel forecasts that the Insulin delivery devices market is expected to remain the largest segment due to unhealthy lifestyles, technological advancement in insulin delivery devices like insulin pens, insulin pumps, jet injectors, and other devices, and more people are using insulin patches, and smart insulin pumps to self-manage their diabetes.
“Within the diabetes device market, the hospital segment is expected to remain the largest end use industry”
Based on end use industry the hospital segment is expected to witness the highest growth over the forecast period due to growing number of hospitalization cases of diabetic patients and the advancements in technology have increased the usage of insulin pumps and diabetes care in hospitals and clinics.
“North America will dominate the diabetes device market in near future”
North America will remain the largest region due to large number of diabetic population and favorable reimbursement policies, high per capita income, increasing healthcare spending, and increasing prevalence of obesity and high cost of treatment.
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Major players of diabetes device market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Abbott Laboratories, Arkray, B. Braun Melsungen AG, Dexcom, F. Hoffmann-La Roche AG, Medtronic PLC, Sinocare, Nova Biomedical, Sanofi, and Novo Nordisk are among the major diabetes device providers.
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