Diabetes Monitoring Devices Market by Type of Device, Diabetes Type, Type of Self-Monitoring Blood Glucose Device Component, Type of Continuous Blood Glucose Monitoring Device Component, and Key Geographies: Industry Trends and Global Forecasts, 2020-2030

Overview

Diabetes is one of the seven leading causes of death and disability across the world. According to the World Health Organization (WHO), more than 1.6 million deaths are directly attributed to diabetes each year. In 2019, the global expenditure on diabetes treatment and disease management was estimated to be over USD 750 billion; this is indicative of the significant burden on patients and the global healthcare system. Timely glucose monitoring helps prevent unwanted glucose fluctuations (hyperglycemia/hypoglycemia), which are known to have serious implications, including (but not limited to) kidney damage, cardiovascular complications, visual impairment, diabetic ketoacidosis and circulatory defects (some of which are known to progress to a stage requiring amputation). The current gold standard for self-monitoring of blood glucose level involves the use glucose meters. These are compact devices designed to measure glucose levels in blood, which is typically extracted (using a small needle) from patients’ fingertips or forearms. For adequate glycemic control, it is essential for diabetics to measure glucose levels multiple (3-4) times in a day; since the process involves the use of a needle, compliance is a primary concern. Moreover, there are several other concerns, such as inaccurate readings and needlestick injuries, associated with the use of conventional glucose monitoring devices.

Over time, a number of companies have developed advanced variants of the conventional blood glucose monitors that are portable, and minimally-/non-invasive. Many such next generation solutions have connectivity features, which enable patients’ health data to be captured and shared with medical professionals, upon request. In addition, there are a number of innovative continuous glucose monitoring (CGM) systems, which are designed to provide real-time insights on blood glucose levels. Newer variants of these products are now chockful of intuitive software that enables patients to quickly make important treatment-related decisions. This field is presently the epicenter of innovation in the diabetes market; a popular example is the artificial pancreas, which is basically a combination of a CGM system and a large volume wearable injector, powered by intuitive algorithms that drive the delivery of insulin and glucagon. The diabetes monitoring devices market is anticipated to witness steady growth, largely driven by the increasing diabetic patient population and the introduction of advanced and cost effective solutions, in the coming years.

Scope of the Report

The “Diabetes Monitoring Devices Market, 2020-2030” report features an extensive study of the current market landscape and the likely adoption of diabetes monitoring devices, over the next decade. The study also features a detailed analysis of the key drivers and trends related to this evolving domain.

Amongst other elements, the report includes:

• An overview of current market landscape of the diabetes monitoring devices, providing information on device specifications, such as type of device (self-monitoring blood glucose device and continuous blood glucose monitoring devices), current status of development (preclinical, clinical and marketed), target patient segment (children, adults and elderly patients), analyte procurement (invasive, non-invasive and minimally invasive), volume of analyte used (less than 0.8 µL, 0.8 to 2 µL and more than 2 µL), processing speed (fast and slow), wearability (wearable and non-wearable), wireless connectivity, water resistance potential, provision for alerts/alarms, device memory attributes and glucose measurement range. In addition, the report presents the details of the companies developing these devices, including information on type of developer (industry and non-industry), year of establishment, company size, location of headquarters and leading developers.
• A detailed competitiveness analysis of diabetes monitoring devices, taking into consideration the supplier power (based on the experience/expertise of the developer) and product specifications (type of device, current status of development, target patient segment,  analyte procurement, volume of analyte used, processing speed, wireless connectivity, water resistance potential, provision for alerts/alarms and device memory attributes).
• An analysis of the partnerships that have been inked by the stakeholders in this domain, during the period between 2015 and 2020 (till August), covering product/technology integration agreements, commercialization agreements, distribution agreements, product development agreements, acquisitions, product development and commercialization agreements and other relevant types of deals.
• Elaborate profiles of prominent companies that develop diabetes monitoring devices. Each company profile features a brief overview of the company, its financial information (if available), information on its product portfolio, recent developments and an informed future outlook.
• A review of recent initiatives undertaken by big pharma players in this domain. It also features a benchmark analysis of top 5 big pharma players (in terms of annual revenues of 2019), comparing them across various relevant parameters.

One of the key objectives of the report was to estimate the existing market size and potential future growth opportunities for diabetes monitoring devices. Based on multiple parameters, such as the number of commercialized devices, number of devices under development, price of the device and the annual adoption rate, we have provided an informed estimate on the likely evolution of the market over the period 2020-2030. The report also features sales forecasts for the overall diabetes monitoring devices market with a detailed market segmentation on the [A] type of device (self-monitoring blood glucose device and continuous blood glucose monitoring device), [B] diabetes type (type 1 diabetes and type 2 diabetes), [C] device component (self-monitoring blood glucose devices: lancing device, blood glucose meter and testing strips; continuous glucose monitoring devices: sensors, transmitter and receiver) and [D] key geographical regions (North America, Europe, Asia Pacific, Latin America, Middle East and North Africa and rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios namely the conservative, base and optimistic scenarios, which represent different tracks of the industry’s evolution.

Key Questions Answered

• Which are the leading diabetes monitoring device developers?
• What are the popular monitoring devices currently being marketed/developed in this domain?
• What novel/advanced features are device developers focusing on to maintain a competitive edge in the market?
• What kind of partnership models are commonly adopted by stakeholders in this industry?
• What initiatives big pharma companies have taken to expand their existing capabilities and comply with industry benchmarks?
• What are the factors that are likely to influence the evolution of this market?         
• How is the current and future market opportunity likely to be distributed across key market segments?