Diabetes Care Devices - North America

In North America, revenue in the Diabetes Care Devices market market is projected to reach US$12.67bn in 2024.
It is anticipated that revenue will exhibit an annual growth rate (CAGR 2024-2029) of 11.63%, leading to a market volume of US$21.96bn by 2029.
In a global context, the majority of revenue is expected to be generated the United States, amounting to US$11.71bn in 2024.
In North America, the increasing prevalence of diabetes is driving demand for innovative diabetes care devices, enhancing patient management and improving health outcomes.

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 North America is witnessing considerable growth, fueled by factors such as technological advancements, increasing prevalence of diabetes, and heightened focus on preventive healthcare measures among consumers.

Customer preferences: Consumers in North America are increasingly favoring smart diabetes care devices that offer real-time monitoring and connectivity to mobile applications, reflecting a shift towards personalized health management. The rise of telehealth services is also evident, as individuals seek convenient methods to engage with healthcare professionals. Furthermore, younger generations are showing a preference for integrated devices that seamlessly fit into their tech-driven lifestyles, prioritizing user-friendly interfaces and data analytics for better decision-making in diabetes management.

Trends in the market: In North America, the Diabetes Care Devices Market is experiencing a surge in demand for advanced diabetes management solutions, particularly smart devices that provide real-time glucose monitoring and seamless integration with mobile applications. This trend signifies a growing emphasis on personalized health management, as patients increasingly seek tools that enhance their daily diabetes care experience. Additionally, the expansion of telehealth services allows for improved communication between patients and healthcare providers, catering to the convenience sought by younger demographics. As a result, industry stakeholders must adapt by investing in user-friendly technologies and data analytics capabilities to stay competitive in this evolving landscape.

Local special circumstances: In North America, the Diabetes Care Devices Market is shaped by a combination of advanced healthcare infrastructure and a strong emphasis on regulatory compliance, particularly with FDA approvals. Cultural attitudes towards health and technology drive demand for innovative solutions, with a focus on convenience and personalization. Additionally, the prevalence of diabetes in diverse populations, including Hispanic and African American communities, necessitates tailored approaches. These factors influence market dynamics, prompting companies to prioritize accessibility and culturally relevant education in their product offerings.

Underlying macroeconomic factors: The Diabetes Care Devices Market in North America is significantly affected by macroeconomic factors such as rising healthcare expenditures, demographic shifts, and technological advancements. The increasing prevalence of diabetes, coupled with an aging population, drives demand for innovative care solutions. Favorable fiscal policies that support healthcare innovation, along with significant investments in medical technology, enhance market growth potential. Additionally, global economic trends, such as supply chain disruptions and inflationary pressures, impact pricing and accessibility of diabetes care devices, necessitating adaptive strategies from manufacturers to address diverse consumer needs effectively.

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.