Diabetes Devices Market Size, Industry Trends Report | 2031

Report Description

The India diabetes devices market size was USD 1.07 Billion in 2022 and is likely to reach USD 2.56 Billion by 2031, expanding at a CAGR of 10.2% during 2023–2031. Growth of the market is attributed to the increasing funding from government and private organization, rising number of development and research activities, rise in technological advancement, and unhealthy lifestyle.

The diabetes devices contain disposable pens, insulin cartridges, insulin pumps, and insulin syringes. Each of these devices used by diabetes patients on the basis of their diabetes type and amount of medicine and insulin requirement. The continuous glucose monitoring and self-monitoring blood glucose devices are used to monitor the blood glucose level and to adjust the insulin doses of diabetes patients.

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 The Covid-19 pandemic affected the demand and supply of India diabetes devices market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

• Rapid urbanization and increasing diabetes population is projected to boost the market in the coming years.

• Rising prevalence of obesity due to changing life style among people is the major factor fueling the market.

• Emerging economies and lack of health infrastructure is anticipated to restrict the market growth.

• Lack of awareness about diabetes devices present a main challenge that can hamper the market expansion during the forecast period.

• R&D investment and technological advancement in diabetes devices market is projected to offer lucrative opportunities for the market players.

Scope of India Diabetes Devices Market Report

The report on the India diabetes devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

India Diabetes Devices Market Segment Insights

The self-monitoring blood glucose segment accounts for key share of the market and expected to grow at a rapid pace

Based on monitoring devices, the India diabetes devices market is bifurcated into continuous glucose monitoring and self-monitoring blood glucose. The continuous glucose monitoring segment is sub-segmented into durables and sensors. The self-monitoring segment is sub-segmented into test strips, lancets, and glucometer devices. The self-monitoring blood glucose segment accounts for a key share of the market.

Growth of the market is attributed to the increasing funding from government and private organization, rising number of development and research activities, rise in technological advancement, and unhealthy lifestyle. The continuous glucose monitoring segment is anticipated to expand at a rapid pace during the forecast period due to rapid urbanization, increasing diabetes population, rising prevalence of obesity, and increasing adaptation of insulin pumps.

The disposable pen segment is anticipated to expand at a rapid pace during the forecast period

On the basis of management devices, the market of India diabetes devices is categorized into disposable pens, insulin cartridges, insulin pumps, and insulin syringes. The insulin pump segment is sub-segmented into Indian pump reservoir, infusion set, and insulin pump device. The pens come in form of two categorize reusable and disposable. A disposable insulin pen has a cartridge, when the cartridge is over the entire pen is thrown away.

An insulin pump is a device which delivers insulin by the pump wearer instruction and automatically. It provides insulin to body through day and delivers large dose of insulin whenever required. The pen needles and insulin syringes are generally used for providing prescribed dose of insulin to the patient’s body.

Since the introduction of diabetes medication, the insulin needles are used for providing insulin. Growth of the market is attributed to increasing number of programs started by different health organizations, increasing funding from government and private organization, and rise in technological innovations.

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Geographical outlook

The India diabetes devices market is anticipated to expand at a high CAGR during the forecast period due to increase in demand for diabetes care devices and rising awareness about health. Growth of the market is attributed to introduction of technological and novel advanced product and smart insulin pump for self-diabetes management.

Rapid development in the health sector increased the demand for insulin pumps in India. Increasing number of diabetes disease due to change in life style among people is the major factor fueling the market.