Diabetes Devices Market Analysis

Type (Blood Glucose Monitoring, Insulin Delivery Devices)

The global diabetes devices market is segmented and analyzed for demand and supply by type into blood glucose monitoring, and insulin delivery devices. Out of these, the insulin delivery devices segment is anticipated to hold the largest market size by the end of 2037 owing to rising diabetic cases with complications that can’t be treated with medications alone, high adoption and easy availability of self-monitoring devices, and increasing demand for homecare products and therapies during COVID-19. The number of blood glucose monitors sold in 2019 alone by private labels was 14 million units. Syringes, pens, jet injectors, oral insulin, pumps, and other forms of insulin delivery methods are among the numerous ones available. Inhalable insulin and other innovative methods of treating diabetes are also in various stages of development and availability around the globe.

Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Clinics, Online Pharmacy)

The global diabetes devices market is also segmented and analyzed for demand and supply by distribution channel into retail pharmacy, hospital pharmacy, clinics, online pharmacy, and others. Amongst these five segments, the hospital pharmacy segment is expected to garner a significant share. Patients suffering from diabetes often visit hospitals for treatment and glucose monitoring, and it is easier and more convenient for them to purchase the prescribed drugs or needful devices directly from the same hospital premises. On the other hand, the online pharmacy segment is projected to witness a massive CAGR during the forecast period, owing to the rising awareness of these online platforms amongst users across the world. Purchasing diabetes devices online help the user to receive the prescribed drugs directly at their homes, without the need to visit offline stores. Besides this, several online pharmaceutical businesses are also offering wide discounts to lure their customers as part of their customer retention process. This, as a result, is estimated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global market includes the following segments: