Medical Devices
US Diabetes Devices Market Analysis
The US diabetes devices market is projected to grow from $4.7 Bn in 2022 to $5.9 Bn by 2030, registering a CAGR of 2.75% during the forecast period of 2022-30. Some of the key trends in the US diabetes devices market include the development of more advanced glucose monitoring and insulin delivery technologies, the use of digital health platforms and apps to help patients manage their diabetes, and the shift towards value-based care models that prioritize patient outcomes and cost-effectiveness. The US diabetes devices market is highly competitive, with several major players dominating the market. Some of the key players in the market include Abbott Laboratories, Medtronic, Dexcom, Roche, and Insulet Corporation.
Buy Now
US Diabetes Devices Market Executive Summary
According to projections, the US Diabetes Devices Market would increase from $4.7 billion in 2022 to $5.9 billion in 2030, exhibiting a CAGR of 2.75% from 2022 to 2030.
A variety of medical devices are used for the treatment of diabetes, and the US diabetes devices industry is a sizable and expanding business. In order to avoid long-term problems including heart disease, renal disease, and nerve damage, diabetes is a chronic condition that affects how the body processes blood sugar (glucose).
Here are some essential details about the US market for diabetes devices:
- The US market for diabetic devices consists of a number of product categories, including glucose monitoring tools (such as blood glucose metres and continuous glucose monitors), insulin administration tools (such as insulin pumps and pens), and other tools for managing diabetes (such as insulin syringes and jet injectors).
- Important players: The US market for diabetic devices is quite competitive, with a few key firms controlling the industry. Abbott Laboratories, Medtronic, Dexcom, Roche, and Insulet Corporation are a few of the market's major participants.
- The development of more sophisticated glucose monitoring and insulin delivery technologies, the use of digital health platforms and apps to assist patients in managing their diabetes, and the shift to value-based care models that place a higher priority on patient outcomes and cost-effectiveness are just a few of the key trends in the US diabetes devices market.
- The Food and Drug Administration (FDA), which establishes safety and efficacy criteria for diabetic devices and oversees their post-market performance via surveillance and enforcement actions, is in charge of regulating the diabetes devices industry in the US.
Overall, the US diabetes devices market is a dynamic and developing industry that is being influenced by medical and technological advancements, shifting patient needs, and shifting laws and regulations in the healthcare industry. The need for cutting-edge and efficient diabetic devices is projected to grow as the prevalence of the disease rises, opening up potential for both new and established market competitors.
Market Dynamics
Growth Drivers
- Increased prevalence of diabetes: The rising incidence of diabetes in the US is a major market driver for diabetes devices. Almost 34 million Americans have diabetes, and the number is predicted to keep rising due to factors including the ageing population, sedentary lifestyles, and bad diets, according to the Centers for Disease Control and Prevention (CDC).
- Technical developments: The US diabetes devices market is expanding as a result of the creation of novel and cutting-edge diabetic devices such continuous glucose monitors (CGMs) and closed-loop insulin delivery systems. For diabetic patients, these technologies provide higher convenience, accuracy, and safety, increasing market demand and acceptance.
- Growing awareness and education: The US market for diabetic devices is expanding as a result of greater knowledge of and education about the treatment of diabetes. Advanced glucose monitoring and insulin administration devices are getting more and more popular as patients and healthcare professionals become more aware of their advantages.
- Initiatives from the government: The US government has started a number of programmes to enhance diabetes management and lessen the strain that diabetes puts on the healthcare system. The US diabetes devices industry is expanding as a result of measures like Medicare coverage for CGMs and campaigns to prevent diabetes.
Competitive Landscape
Key Players
The US diabetes devices market is highly competitive and includes several key players. Some of the major players in this market include:
- Medtronic: Medtronic is a global medical technology company that develops and manufactures a range of products, including insulin pumps, continuous glucose monitoring systems, and other diabetes management devices.
- Abbott Laboratories: Abbott Laboratories is a diversified healthcare company that offers a range of products and services, including diabetes care products such as glucose monitoring systems, test strips, and other related devices.
- Roche Diabetes Care: Roche Diabetes Care is a division of Roche, a global healthcare company that offers a range of products and services, including blood glucose monitoring systems and insulin delivery devices.
- Dexcom: Dexcom is a medical device company that specializes in continuous glucose monitoring systems for people with diabetes.
- Johnson & Johnson
- Insulet Corporation
- Tandem Diabetes Care:
- Ascensia Diabetes Care
- Senseonics
- Novo Nordisk
Healthcare Policies and Regulatory Landscape
The US diabetes devices market is regulated by several healthcare policies and regulatory bodies, including:
- Food and Drug Administration (FDA): The FDA is responsible for regulating medical devices in the US, including diabetes management devices. Diabetes devices must meet strict standards for safety and effectiveness before they can be approved for use.
- Centers for Medicare and Medicaid Services (CMS): The CMS is a federal agency that oversees the Medicare and Medicaid programs. Medicare provides coverage for diabetes devices for eligible beneficiaries, while Medicaid coverage varies by state.
- Affordable Care Act (ACA): The ACA includes provisions that aim to improve access to diabetes care and management, such as requiring insurance plans to cover preventive services for diabetes without cost-sharing.
- American Diabetes Association (ADA): The ADA is a nonprofit organization that advocates for people with diabetes and provides resources and education on diabetes management. The ADA also works to shape healthcare policies and regulations related to diabetes care.
- National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK): The NIDDK is a research organization that focuses on improving the understanding and treatment of diabetes and related conditions.
These healthcare policies and regulatory bodies play a critical role in ensuring the safety and effectiveness of diabetes devices, as well as improving access to diabetes care for people in the US. As the diabetes device market continues to evolve, these policies and regulations will likely continue to adapt to meet the needs of patients and healthcare providers.
1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
Diabetes Devices Market Segmentation
By Type (Revenue, USD Billion):
The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents
- Blood glucose monitoring systems
- Self-monitoring blood glucose monitoring systems
- Continuous glucose monitoring systems
- Test strips/Test papers
- Lancets/Lancing Devices
- Insulin delivery Devices
- Insulin pumps
- Insulin pens
- Insulin syringes and needles
- Diabetes management mobile applications
By End User (Revenue, USD Billion):
The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.
- Hospitals & Specialty Clinics
- Self & Home Care
Insights10 will provide you with the reports within 10 key parameters which are:
- Market Overview
- Market Growth Drivers & Restraints
- Epidemiology of Disease Type
- Market Segmentation
- Market Share
- Competitive Landscape
- Key Company Profiles
- Healthcare Policies & Regulatory Framework
- Reimbursement Scenario
- Factors Driving Future Growth
Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
Stage II: Market Data Analysis and Statistical Model
Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.
The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.
(1).png)
Stage III: Interpretation and Presentation
Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)
- Establishing market drivers and trends
- Analyzing the regulatory landscape to understand future growth
- Market Segment based analysis to obtain revenue/volume
- Analyzing current needs and determining penetration to estimate the market
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.
Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.
To request a free sample copy of this report, please complete the form below.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses
- Intelligent insights to take informed business decisions
- Qualitative, acute and result oriented market analysis
- Market size and forecasts from 2022 to 2030
- Opportunities for expansion and in-depth market analysis
- Segmentation and regional revenue forecasts
- Analysis of the market share and competitive landscape
- Strategic Recommendations to chart future course of action
- Comprehensive Market Research Report in PDF and PPT formats
Need more?
- Ask our analyst how this study was put together to learn more
- Discuss additional requirements as part of the free customisation
- Add more countries or regions to the scope
- Get answers to specific business questions
- Develop the business case to launch the product
- Find out how this report may influence your business revenue
Related reports (by category)
Medical Devices
Mexico Neurology Devices Market Analysis
Medical Devices
Algeria Contraceptive Devices Market Analysis
Medical Devices
Lebanon Medical Devices Market Analysis
Related reports (by geography)
Pharmaceuticals
US Pressure Sensor Market Analysis
Pharmaceuticals
US Colposcopy Market Analysis
Pharmaceuticals