The North American Diabetes Care Devices Market for diabetic devices is valued at more than USD 9.3 billion in 2019 and is expected to witness a CAGR greater than 9.13% during the forecast period (2020-2025). The growth of the diabetic devices market is directly proportional to the increasing diabetic population. The North American region had witnessed an astounding increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people.? Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates. ?Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia.? Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy. This is driving the demand for diabetes care devices in North America, thereby driving the market in focus during the forecast period.?

Key Market Trends

The United States holds 87% of the market share in the North American Diabetes Devices Market

In the North American diabetes care devices market, the United States holds the highest market share of 93.4%, and it is expected to increase over the forecast period (2020-2025), with a CAGR of 9.07%. According to the US Centers for Disease Control and Prevention (CDC), diabetes has evolved into an epidemic in the US, with over 30 million American citizens diagnosed with the disease. according to the American Diabetes Association (ADA), in 2018, almost 29 million people suffered from diabetes in the US, with around 1.3 million registered cases for Type 1 diabetes and another 84.1 million people displaying prediabetic symptoms that put them at increased risk of developing type 2. ? The rates of newly diagnosed cases of Type 1 and Type 2 diabetes in the US have witnessed a spike in recent years with nearly 40,000 new cases being registered each year alone for Type 1 diabetes.? To enhance the quality of medical services and the effectiveness of the administered treatments, diabetes monitoring and prevention agencies such as the ADA is investing significant resources towards the R&D of new medical devices for controlling the outbreak and enhance the life expectancy of the diabetic patients.? In 2018, the ADA funded 318 new and continuing projects targeting all types of diabetes and its many complications, across a broad spectrum of scientific approaches. ?

In North America Diabetes Devices Market, monitoring Devices hold 72.51% .

The growing demand for insulin has led to tremendous R&D activities in manufacturing different painless types of insulin deliverable devices, such as continuous glucose monitoring (CGM), integrated insulin pumps, extremely accurate blood glucose monitoring devices (such as the flash glucose monitoring device), and improved lancets for a glucometer. Initially, syringes were the only form of insulin delivery system, but they are considered to be painful and not user-friendly. Thus, companies like Novo Nordisk and Sanofi, among others, have produced their insulin pens with a specific set dosage. They are not only less painful to use, but also reduce the wastage of insulin. The high cost of insulin pens is the only prominent restraining factor for the growth of the pens market. A large set of diabetic type 1 patients is children. There was a need for an alternative to the existing needle-based delivery system, which is painful. Thus, the invention of an insulin jet injector, a painless insulin delivery system, came into the picture. The insulin jet injector has high sales in developed countries, such as the United States and Canada. These jet injectors are considered to be the future for the insulin delivery systems market. The lack of awareness regarding the product and its benefits, when compared to conventional methods of insulin delivery, acts as the prominent restrain for the product.

Competitive Landscape

The market is dominated by a few major players. Abbott’s new FreeStyle Libre Flash Glucose Monitoring System was approved, which is the first continuous blood sugar monitor, for people with diabetes, which does not need backup finger prick tests. The innovations in test strips are increasing and are under development. For example, the new test strip includes features, such as underfill detection, and provides the user with the ability to reapply blood when the test strip is underfilled (“second chance” sampling). Dexcom acquired TypeZero Technologies, paving way for automated insulin delivery. The acquisition has sent Dexcom ahead on its way in the race to create an artificial pancreas system, rather than simply offering a continuous glucose monitoring device.

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