Diabetes Care Devices - New Zealand

In New Zealand, revenue in the Diabetes Care Devices market market is projected to reach US$63.78m in 2024.
The revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 12.44%, leading to a market volume of US$114.60m by 2029.
When compared globally, the majority of revenue will be generated the United States, which is anticipated to reach US$11.71bn in 2024.
In New Zealand, the Diabetes Care Devices market is experiencing a surge in demand driven by increasing awareness and advancements in technology for diabetes management.

Definition:
The Diabetes Care Devices market, a medical technology market, includes medical devices used in the management and treatment of diabetes. These devices range from blood glucose meters and continuous glucose monitoring systems to insulin pumps, insulin pens, and other related accessories. It is important to note that the market does not include pharmaceutical products used in the treatment of diabetes, such as insulin and oral hypoglycemic agents.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Medtronic, Abbott Laboratories, and Roche Diagnostics. Further information on the key players can be found in the Market Shares boxes.

Blood glucose monitoring devices
Insulin delivery devices

Diabetes drugs
Diabetes supplements

The Diabetes Care Devices Market in New Zealand is witnessing considerable growth, fueled by increasing diabetes prevalence, advancements in technology, and heightened awareness of diabetes management, driving demand for innovative solutions and improved patient outcomes.

Customer preferences: In New Zealand, consumers are increasingly prioritizing personalized diabetes management solutions, reflecting a shift towards individualized healthcare. This trend is driven by the rise of technology-savvy millennials and Gen Z, who favor user-friendly mobile apps and connected devices for real-time glucose monitoring. Additionally, there is a growing emphasis on holistic health approaches, with an interest in integrating dietary and lifestyle modifications alongside medical devices. This evolving preference highlights a cultural shift towards proactive health management and better quality of life for diabetes patients.

Trends in the market: In New Zealand, the Diabetes Care Devices Market is experiencing a notable shift towards advanced digital solutions that enhance patient engagement and self-management. The adoption of continuous glucose monitoring (CGM) systems is on the rise, enabling real-time data sharing between patients and healthcare providers. Furthermore, innovative mobile applications are increasingly being integrated with diabetes management devices, allowing users to track their glucose levels, diet, and exercise seamlessly. This trend signifies a broader movement towards patient-centric care and emphasizes the importance of data analytics in personalizing treatment plans. As these technologies gain traction, industry stakeholders, including device manufacturers and healthcare providers, must adapt to meet the evolving needs of tech-savvy consumers, ensuring that their offerings align with the demand for integrated, user-friendly solutions.

Local special circumstances: In New Zealand, the Diabetes Care Devices Market is shaped by the country's unique geographical challenges and a strong emphasis on public health initiatives. The diverse terrain and population distribution necessitate innovative solutions for remote monitoring, making telehealth services and CGM systems essential for reaching rural communities. Culturally, there is a growing acceptance of technology in healthcare, driven by a proactive approach to health management. Additionally, stringent regulatory standards ensure the safety and efficacy of devices, fostering consumer trust and encouraging the adoption of advanced diabetes care solutions.

Underlying macroeconomic factors: The Diabetes Care Devices Market in New Zealand is significantly influenced by macroeconomic factors including national economic health, global market trends, and healthcare funding policies. The country’s stable economy and government investment in healthcare infrastructure facilitate the development and adoption of innovative diabetes management technologies. Moreover, global trends such as increasing diabetes prevalence and advancements in medical technology are driving demand for more effective solutions. Fiscal policies promoting health initiatives and subsidies for medical devices further enhance accessibility, ensuring that patients, especially in rural areas, can benefit from advanced diabetes care solutions that improve health outcomes.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.