Market Insights Health Medical Technology Medical Devices

Diabetes Care Devices - G7

The Diabetes Care Devices market market in G7 is anticipated to generate revenue of US$17.22bn in 2024.
This market is expected to experience an annual growth rate (CAGR 2024-2029) of 11.79%, leading to a projected market volume of US$30.06bn by 2029.
In comparison at the global level, the United States will contribute the majority of revenue, with an expected figure of US$11,710.00m in 2024.
In Canada, the Diabetes Care Devices market is experiencing a surge in demand for continuous glucose monitoring systems, driven by increasing awareness of diabetes management.

Key regions: Netherlands, Japan, France, Italy, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Diabetes Care Devices Market within the Medical Devices sector in G7 nations is experiencing substantial growth, fueled by technological advancements, increased prevalence of diabetes, and heightened awareness of disease management among patients and healthcare providers.

Customer preferences: Consumers in G7 nations are increasingly prioritizing personalized diabetes management solutions, reflected in a growing demand for smart insulin pens and continuous glucose monitoring systems. As awareness of diabetes-related complications rises, there is a notable shift towards integrated devices that offer real-time data and analytics. Additionally, the trend towards telehealth services is empowering patients to engage more actively in their care, while younger demographics show a preference for mobile apps that enable seamless tracking of their health metrics and lifestyle adjustments.

Trends in the market: In G7 nations, the Diabetes Care Devices Market is experiencing a surge in demand for innovative technologies, particularly smart insulin pens and continuous glucose monitoring systems. This trend reflects a broader shift towards personalized diabetes management as consumers seek integrated solutions that provide real-time data and analytics. Furthermore, the rise of telehealth services is enabling patients to take a more active role in their care. Younger demographics are increasingly favoring mobile apps that facilitate tracking of health metrics and lifestyle changes, highlighting the need for industry stakeholders to adapt to these evolving consumer preferences and technological advancements.

Local special circumstances: In G7 nations, the Diabetes Care Devices Market is shaped by diverse local factors that influence its dynamics. For instance, in Canada, the universal healthcare system fosters a strong demand for affordable diabetes management solutions, encouraging innovation in cost-effective technologies. Meanwhile, in Germany, stringent regulatory frameworks ensure high safety standards, leading to the adoption of advanced devices. Cultural attitudes towards health in the UK emphasize preventive care, driving interest in continuous glucose monitoring systems, while in Japan, technological sophistication promotes rapid acceptance of smart insulin pens and integrated health apps.

Underlying macroeconomic factors: The Diabetes Care Devices Market within the Medical Devices sector is significantly influenced by macroeconomic factors such as healthcare expenditure, demographic trends, and regulatory environments across G7 nations. For example, rising healthcare costs and an aging population in the U.S. are driving demand for innovative diabetes management technologies. In contrast, Japan's strong emphasis on technological investment facilitates quick adoption of advanced solutions. Additionally, fiscal policies promoting healthcare accessibility in Canada encourage the development of affordable devices, while Germany's rigorous regulatory standards ensure the highest safety and quality, impacting device innovation and market growth trajectories across these diverse economies.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.