Diabetes Management Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[213+ Pages Report] According to Facts and Factors, the global diabetes management market size was around USD 18.23 billion in 2022 and is anticipated to reach USD 36.02 billion by the end of 2030. The diabetes management industry is expected to grow with a CAGR of 8.87% between 2023 and 2030.

Market Overview

Diabetes management refers to the medical interventions and practices that help in controlling the impact of diabetes on human health. Diabetes is a metabolic disorder caused by high blood sugar levels. Regular management of diabetes is important to make informed decisions regarding physical activity, medication, and diet. The management further helps in modifying their lifestyle according to their body health status, thereby helping diabetic patients maintain their glucose levels in the blood and lead healthy lives.

Key Insights

• As per the analysis shared by our research analyst, the global diabetes management market size is estimated to grow annually at a CAGR of around 8.87% over the forecast period (2023-2030).
• In terms of revenue, the global diabetes management market size was valued at around USD 18.23 billion in 2022 and is projected to reach USD 36.02 billion by 2030.
• Rising diabetes prevalence and technological advancements are driving the growth of the global diabetes management market.
• Based on the device type, the monitoring device segment is growing at a high rate and is projected to dominate the global market.
• Based on the therapeutics, the injectables segment is projected to swipe the largest market share.
• Based on the applications, the diabetes & blood glucose tracking apps segment is the fastest-growing segment in the global market.
• Based on the end-users, the home healthcare segment is projected to witness notable growth in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

Growth Drivers

• Rising diabetes prevalence and technological advancements are likely to drive the growth of the global market.

Diabetes cases are rising globally. Both type one and type two diabetes are increasing significantly, with a direct impact on demand for diabetes management services, which is a major reason for the growth of the global diabetes management market.

Moreover, the increasing aging population all across the globe is further contributing towards the high growth rate of diabetes. Medical advancement is also helping in the fast growth of the market by launching advanced and more effective diabetes management products.

Digital health solutions, insulin delivery systems, and glucose monitoring devices are a few of the management products and services available in the market. These products help people live a smooth life by maintaining diabetes on a daily basis. For instance, Roche Diagnostics said to access the mySugr Pro app for free on April 30, 2021. The aim is to help people maintain their daily glucose levels on a personalized level.

Restraints

• High treatment cost is likely to hamper the growth of the global market.

Diabetes management is quite expensive. It includes regular checkups, monitoring devices, and medications, which burden individuals with hefty fees and medication costs. Also, disparities in healthcare access further affect the growth aspects. Underserved population areas and economically weak geographical regions with racial disparities result in poor health outcomes. Such a landscape is expected to hamper the growth of the diabetes management industry.

Opportunities

• Personalized medical services and patient empowerment are likely to foster growth opportunities in the global market.

Healthcare providers are coming up with advanced and personalized medical treatments for individual patient requirements. These management services also come with tailored diabetes management plans, which account for various factors like lifestyle, comorbidities, type of diabetes, age, and several others, which help people find an ideal treatment plan for themselves.

Moreover, there is a growing focus on patient empowerment and education, which is further expected to foster growth opportunities in the global diabetes management market. For instance, Abbott Laboratories got approval for its new CGM meter, named Freestyle Libre2, in June 2021. The device is ideal for use among children above four years, which is a huge achievement for the company.

Challenges

• Lack of diabetes awareness is a big challenge in the global market.

Inadequate awareness among people regarding diabetes leads to delayed diagnosis and inconsistent management, which is a big challenge in the global market.

Segmentation Analysis

The global diabetes management market can be segmented into device type, therapeutics, applications, end users, and region.

By device type, the market can be segmented into insulin delivery, diagnostic, monitoring, and other devices. The monitoring device segment accounts for the largest share of the global market. Monitoring devices have become a fundamental component of the life of a diabetic patient. These devices help patients with real-time data on their glucose levels, thereby allowing them to make informed decisions regarding diet, insulin, dosing, and other aspects of diabetes management.

Moreover, the advancements in continuous glucose monitoring (CGM) technology have significantly enhanced the accessibility, convenience, and accuracy of the monitoring devices, thereby widening the scope of the segment. Furthermore, the lower reliability of people on fingerstick testing has also increased the sales of CGM devices.

By therapeutics, the diabetes management industry can be segmented into orally administered drugs and injectables. The injectables segment is projected to witness a notable growth in the forthcoming years. The advancements in biotechnology and pharmaceutical industries have helped companies come up with new injectable therapies for managing diabetes.

Companies are investing heavily in research and development activities to offer enhanced safety, efficiency, and convenience to patients regarding injectable therapies, which is likely to boost the growth of the segment in forthcoming years. Moreover, the growing incidences of type 2 diabetes are further widening the scope of the segment.

By applications, the diabetes management market can be segmented into diet management apps, obesity, diabetes & blood glucose tracking apps, and others. The diabetes & blood glucose tracking apps segment is likely to dominate the global market during the forecast period.

The diabetes and glucose tracking apps are programmed to assist diabetic patients in monitoring their blood glucose levels on a regular basis. These apps work by inputting and storing the glucose readings, thereby helping people analyze the ongoing trend in their blood sugar levels over a period of time.

Moreover, regular blood glucose monitoring has emerged as a crucial aspect of a diabetic patient’s life in order to make informed decisions regarding medication and diet to maintain optimal blood sugar control. Also, a lot of these apps in the market permit users to share the data with their healthcare providers, thereby helping people get more personalized care from professionals. Therefore, such a landscape is expected to boost the growth of the segment in the forthcoming years.

By end users, the diabetes management industry can be segmented into specialty diabetes clinics, home healthcare, and others. The home healthcare segment is expected to grow with a high CAGR during the anticipated period. The major reason behind the growth of the segment is patient empowerment.

Home healthcare allows individuals to participate actively in managing their diabetic condition through self-monitoring and self-care. This empowers patients to take control of their lives and manage their diabetic condition effectively without any dependency.

Also, it is a convenient way of managing diabetes in daily life without the requirement to visit a healthcare professional every other day. It helps patients get real-time data in a familiar environment in the comfort of their own place. Also, the convenience of integration of digital tools with telehealth platforms has further helped people to get virtual consultations in case of immediate need, which is expected to foster growth opportunities in the segment.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global diabetes management market because of the dynamic nature of the healthcare sector in the region. The region encompasses a variety of brands, products, technologies, and services aimed at managing diabetes and high blood sugar levels. The region is witnessing the highest cases of diabetes in the world. Canada and the United States are posing a high demand for diabetes management products and services.

Moreover, the ongoing advancements in the region are expected to enhance the convenience and accuracy of glucose monitoring devices, which in turn is also likely to contribute heavily towards the growth of the regional market. Also, an increasing number of people are adopting digital health solutions and self-help home care devices to manage their diabetes, which is further expanding the scope of the regional market.

Asia Pacific is anticipated to witness a significant growth rate in the upcoming years because of the presence of a varied population in the region. The region contains different cultures, nuances, evolving healthcare systems, and a growing prevalence of diabetes. The high rate of industrialization and urbanization has significantly led to a more sedentary lifestyle in the region, which is further contributing to the rise of the prevalence of diabetes in the region.

Also, the growing government initiatives to raise awareness regarding diabetes management, its early diagnosis, and enhanced access to advanced diabetes management services are further expected to boost the growth of the market in the region.

Competitive Analysis

The key leaders in the global diabetes management market include:

• Medtronic
• Roche Diabetes Care
• Abbott Laboratories
• Dexcom
• Novo Nordisk
• Eli Lilly and Company
• Sanofi
• Becton
• Dickinson and Company (BD)
• One Drop
• Ascensia Diabetes Care
• Tandem Diabetes Care
• Omnipod (Insulet Corporation)
• Animas (Johnson & Johnson)
• Senseonics
• Beta Bionics
• MyDario
• Ascensia Diabetes Care
• Tandem Diabetes Care

For instance, Dexcom partnered with DreaMed in February 2021 to come up with digital solutions investigating insulin delivery information from various devices like insulin delivery, self-monitoring blood glucose, or any other continuous glucose monitoring devices.

The global diabetes management market is segmented as follows:

By Device Type Segment Analysis

• Insulin Delivery
• Diagnostics
• Monitoring
• Other Devices

By Therapeutics Segment Analysis

• Orally Administered Drugs
• Injectables

By Applications Segment Analysis

• Diet Management Apps
• Obesity
• Diabetes & Blood Glucose Tracking Apps
• Others

By End Users Segment Analysis

• Specialty Diabetes Clinics
• Home Healthcare
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America