US DIABETES MEDICAL DEVICE MARKET

KEY FINDINGS

• The global diabetes devices market is growing at a rapid rate along with the rising prevalence of diabetes among the global population across the globe.
• The United States is among the top five countries, with the highest diabetic population. The country has close to 100 million adults, diabetic and pre-diabetic. About 9.5% of the total population of the country has diabetes.
• According to the International Diabetes Federation (IDF), about 537 million adult population aged 20 years to 79 years are living with diabetes in 2021 all over the globe. This number is expected to reach to 643 million by 2030 and to 783 million by the year 2045.
• According to the World Health Organization (WHO), diabetes is a major cause of kidney failure, stroke, and blindness.
• Diabetes care devices are used to control glucose levels in the blood. The main types of diabetes care devices include glucose monitoring devices and management devices.
• The easy availability of various innovative drug delivery devices such as pen injections, jet injectors, and pumps have rapidly gained traction among the consumers and fostered the growth of the global diabetes devices market.
• In the US insulin delivery devices market, the disposable pens market accounted for a high market share. Most of the patients administering insulin prefer pens over cartridges, due to their low cost.
• The United States is considered to be a premium market space for most of the pharmaceutical companies, as they can price their drug at a high price than the other countries and still have high sales.
• The country’s insurance policy, which reimburses close to 50% of the drug cost to the consumers, acts as a boon for pharmaceutical companies selling drugs or devices.
• The rising number of diabetic patient admission in hospitals is the sole factor that has driven the growth of the hospital segment in the global diabetes devices market.
• Asia Pacific is witnessing a rising adoption of the insulin delivery devices owing to the rising awareness regarding blood glucose monitoring and management. 

US DIABETES MEDICAL DEVICE MARKET OVERVIEW

• The market growth of diabetic devices is directly proportional to the increasing diabetic population in the country. The diabetic population in the country has increased continuously over the past decade.
• Almost 24 million people are living with diabetes. Type 2 diabetes accounts for close to 95% of the diabetic population in the country. The increasing number of type 2 diabetic population has a direct correlation to the growing obesity population.
• In the United States, 30% of the population is living with obesity, 7.5% of those have diabetes, and this percentage is more likely to increase during the forecast period.
• In 2022, the United States was the largest exporter of medical devices into the Canadian market, representing 42.6% imports in this sector.
• The US diabetes medical device market is a dynamic and growing industry. Technological advancements, the increasing prevalence of diabetes, and the growing demand for self-management are all contributing to the market’s growth.
• The US government is also playing a role in supporting the development and adoption of diabetes medical devices. As a result, the future of diabetes care in the US is bright.
• The increasing demand for advanced technological solutions, including state-of-the-art insulin pumps and pens, is driving the market for diabetes devices.
• Market players are launching novel diabetes devices for market growth. This key player is started to achieve a higher market share by adopting strategies such as partnerships, collaborations, and innovative technologies. 
• New improvements also include automated insulin delivery (AID) systems and virtual platforms, which allow diabetes patients to achieve their target glycosylated haemoglobin levels while minimising hypoglycemia.
• Fully automatic AID systems and advanced tools for diabetes management based on artificial intelligence are currently in development.
• There has been a wave of consolidation in the diabetes medical device market in recent years. This is due to several factors, including the increasing cost of developing new technologies and the desire of companies to expand their product portfolios.
• The trend toward smartwatch-based blood glucose monitoring apps will continue as more people adopt wearable technology and seek convenient and effective ways to manage their health during the forecast period.

INTRODUCTION TO US DIABETES MEDICAL DEVICE MARKET

Diabetes has persisted as a long-term health condition since the beginning of human history, and with no cure on the horizon still, patients suffering from it have to rely on a range of medical devices as well as lifestyle adjustments to manage symptoms.

One combined ambition between many in the medical device and healthcare sectors is to build an ecosystem through technology that allows patients to manage their diabetes and get input from physicians remotely, saving both money and time.

Medical technology companies are privy to the market opportunity behind this disease, and are racing to create affordable, easy-to-use wearables for diabetics to better manage their care.

There have been numerous efforts to perfect a variety of devices in this ecosystem, including in tracking blood sugar patterns, general lifestyle management, and even in customized medication management. 

These devices can significantly improve a physician’s efforts in providing the perfect combination of medication to keep patients at a stable blood sugar rate and prevent long term complications.

The development and approval of new diabetes medical devices can be a long and expensive process. This is due to the strict regulatory requirements that the Food and Drug Administration (FDA) imposes on medical devices.

The collection and use of patient data is becoming increasingly important in the development and delivery of diabetes care. However, there are also concerns about the privacy and security of patient data.

Continuous Glucose Monitoring (CGM) systems have also revolutionized diabetes care.CGMs help patients and their healthcare providers understand glucose patterns, allowing for better treatment adjustments and reducing the risk of severe complications.

A robust capital market and the continuous improvement trend of the US CDMO industry will continue to be competitive advantages for the global medical device ecosystem, driving growth through these relenting challenges.

The United States diabetes care devices market is moderately fragmented, with few significant and generic players.

US DIABETES MEDICAL DEVICE MARKET SIZE AND FORECAST

The US diabetes medical device market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

TRENDS IN THE US DIABETES MEDICAL DEVICE MARKET

Artificial intelligence (AI) in diabetes medical devices: AI is being used to develop new diabetes medical devices that can help people with diabetes manage their condition more effectively. Insulin pumps that can automatically adjust insulin delivery based on real-time glucose readings. CGMs that can predict and prevent hypoglycemia and hyperglycemia

Telehealth and remote patient monitoring: Telehealth and remote patient monitoring are becoming increasingly popular ways to deliver diabetes care. This is because telehealth and remote patient monitoring can help people with diabetes manage their condition more effectively and conveniently.

Roche Diabetes Care announces the FDA approval of its Accu-Chek Guide diabetes management system, which includes a blood glucose monitor and a mobile app. The Accu-Chek Guide system is designed to help people with diabetes manage their condition more effectively.

Tandem Diabetes Care announces that it has received FDA approval for its t:slim X2 insulin pump system with Basal-IQ technology. The Basal-IQ technology is designed to automatically adjust basal insulin delivery to help improve blood glucose control.

Medtronic announces that it has received FDA approval for its MiniMed 770G insulin pump system, which is the first hybrid closed-loop insulin delivery system approved for use in children aged seven years and older.

NEW PRODUCT LAUNCH IN US DIABETES MEDICAL DEVICE MARKET

• Abbott Diabetes Care’s FreeStyle Libre 3: This CGM system is designed to be more accurate and comfortable than previous versions of the Libre system. It is also the first CGM system that does not require calibration. 
• Dexcom’s G7 CGM: This CGM system is designed to be smaller and more comfortable than the Dexcom G6 CGM. It is also expected to offer a longer battery life.
• Verily’s Senseonics Eversense CGM: This CGM system is designed to be worn under the skin for up to 90 days. It is the first CGM system that does not require finger sticks for calibration.
• Zeo Medical’s ZEO mPatch: This non-invasive CGM system is designed to be worn on the arm for up to seven days. 
• Glytec’s GlucoWatch: This diabetes management app is designed to provide real-time glucose readings without the need for a CGM. 

US DIABETES MEDICAL DEVICE MARKET DYNAMICS

The prevalence of diabetes in the US is on the rise. According to the Centers for Disease Control and Prevention (CDC), over 37 million adults in the US have diabetes, and an additional 96 million have prediabetes.

The cost of healthcare in the US is rising, and this is putting a strain on the healthcare system. Diabetes is a chronic condition that requires ongoing care, and this can be expensive. There is a growing demand for non-invasive diabetes medical devices. These devices do not require finger sticks, which can be painful and inconvenient.

AI is being used to develop new diabetes medical devices that can make decisions on their own. This is helping to improve the accuracy and effectiveness of diabetes care.

The development and approval of new diabetes medical devices can be a long and expensive process. This is due to the strict regulatory requirements that the Food and Drug Administration (FDA) imposes on medical devices.

Many people with diabetes, especially those in rural or underserved areas, do not have access to the care and education they need to manage their diabetes effectively.

RECENT PARTNERSHIPS IN US DIABETES MEDICAL DEVICE MARKET

US DIABETES MEDICAL DEVICE MARKET SEGMENTATION

By Product

• Blood Glucose Monitoring Devices
• Insulin Delivery Devices

By End-User

• Hospitals
• Ambulatory Surgery Centers
• Diagnostic Centers
• Other End-Users

By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

By Geography

• North America
• Western Europe
• Eastern Europe
• APAC
• Latin America
• Middle East & Africa

COMPANY PROFILES IN US DIABETES MEDICAL DEVICE MARKET

• Abbott Diabetes Care 
• Medtronic 
• Dexcom 
• Roche Diabetes Care
• Tandem Diabetes Care 
• Ascensia Diabetes Care 
• Eli Lilly and Company 
• Insulet Corporation 
• Novo Nordisk 
• Becton, Dickinson and Company

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What are the opportunities for diabetes medical device companies in the United States market?
2. What is the government’s investment in research and development in the United States diabetes medical device sector?
3. Where is the diabetes medical device manufactured? What is the average margin per unit?
4. Market share of United States diabetes medical device market manufacturers and their upcoming products
5. What are the key drivers of growth in the United States in diabetes medical device market?
6. key predictions for the next 5 years in the United States diabetes medical device market
7. What is the impact of e-pharmacies on the United States diabetes medical device market?
8. Latest trends in diabetes medical device market, by every market segment
9. The market size (both volume and value) of the diabetes medical device market in 2024-2030 and every year in between?
10. What are the new therapies for non-communicable diseases (NCDs) being developed in the United States?
11. What are the key regulations governing the diabetes medical device industry in the United States?
12. How do regulatory changes affect the business operations of diabetes medical device companies in the United States?
13. What is the level of research and development activity in the United States diabetes medical device industry?
14. What are the opportunities and challenges associated with adopting digital solutions?