The global diabetes devices market size was valued at USD 30.31 billion in 2023 and is projected to reach USD 50.33 billion by 2030, expanding at a CAGR of 7.45% from 2024 to 2030. The market growth is fueled by the rising prevalence of diabetes, advancements in medical technology, increasing adoption of insulin delivery devices, and the growing obesity rates worldwide.
Leading manufacturers are emphasizing technological advancements and the development of innovative products to strengthen their market presence. For instance, in February 2023, Insulet Corporation acquired assets from Automated Glucose Control LLC (AGC), a California-based company specializing in automated insulin delivery systems. The global rise in diabetes prevalence continues to boost demand for such devices. According to the Institute for Health Metrics and Evaluation (June 2023), more than 500 million people globally live with diabetes, making it one of the top 10 causes of death and disability. The current global prevalence rate of 6.1% is expected to increase, with North Africa and the Middle East showing the highest rate at 9.3%, projected to reach 16.8% by 2050, while Latin America and the Caribbean are expected to rise to 11.3%.
The growing demand for diabetes devices stems from their ability to reduce hospital stays and mortality rates among diabetic patients. These devices enable continuous glucose monitoring and improved disease management, allowing patients to take proactive measures to prevent complications. Through real-time data and timely treatment adjustments, diabetes devices significantly enhance patient outcomes and quality of life, underlining their critical role in modern diabetes care.
Key Market Trends & Insights
- The North American diabetes devices market held the largest revenue share of 38.66% in 2023.
- The U.S. market is anticipated to register the fastest CAGR during the forecast period.
- By type, the insulin delivery devices segment dominated the market, accounting for the largest share in 2023, and is projected to record the fastest CAGR of 7.89% through 2030.
- By distribution channel, the hospital pharmacies segment led with 54.13% market share in 2023.
- By end-use, the hospital segment accounted for the largest share at 40.80% in 2023.
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Market Size & Forecast
- 2023 Market Size: USD 30.31 Billion
- 2030 Projected Market Size: USD 50.33 Billion
- CAGR (2024–2030): 7.45%
- North America: Largest market in 2023
- Asia Pacific: Fastest-growing market
Competitive Landscape
Key players in the global diabetes devices market include Medtronic plc, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Bayer AG, Lifescan, Inc., B. Braun Melsungen AG, and others. These companies focus on product innovation, strategic collaborations, and M&A activities to expand their market footprint. Emerging participants such as Companion Medical, Sanofi, Valeritas Holding Inc., Novo Nordisk, and Arkray, Inc. are also contributing to the competitive landscape through new product introductions and technological advancements.
Recent Developments
- May 2023: Medtronic announced its agreement to acquire EOFlow, a maker of insulin delivery systems. The integration of EOFlow’s solutions with Medtronic’s Meal Detection Technology and CGM systems aims to enhance diabetes management capabilities.
- April 2023: Undbio revealed plans to invest USD 100 million in building an insulin manufacturing plant in West Virginia, U.S., to expand domestic insulin production.
- July 2023: CharmHealth and Bioverge jointly invested in My Diabetes Tutor, a startup focused on improving diabetes care and patient education.
Key Companies Profiled
- Medtronic plc
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd.
- Bayer AG
- Lifescan, Inc.
- B. Braun Melsungen AG
- Dexcom Inc.
- Insulet Corporation
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Conclusion
The diabetes devices market is set for sustained growth, driven by rising diabetes prevalence, technological innovations, and growing demand for efficient monitoring and delivery systems. Continuous advancements in digital health and insulin management are expected to transform patient outcomes and accelerate global market expansion through 2030.
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