Diabetes Management Devices Market Trends 2023 is Released
In-Depth Analysis Examines the Latest Market Insights, Including the Trends, Opportunities, and Outlook
FRAMINGHAM, Mass. – July 20, 2023 – Alira Health, a global advisory and clinical research firm whose mission is to humanize healthcare and life sciences, announced today the publication of Diabetes Management Devices Market Trends 2023, in collaboration with MassMEDIC, the Massachusetts Medical Device Industry Council, the largest regional MedTech association in the United States.
The comprehensive study assesses the status of the Diabetes Management Devices Market, focusing on the US and EU4+UK regions, and on the market’s three main segments: blood glucose monitoring, insulin delivery, and digital management platforms. These segments act as a connected ecosystem that enables improved patient adherence and associated clinical outcomes.
Affecting nearly 500M people worldwide, the incidence of diabetes is projected to grow by 3.7% (CAGR), driven by an aging population and growing obesity. The insulin delivery market with a CAGR of 6.7%, rising from $10.3B in 2022 to $14.7B by 2028, is poised to serve the significant unmet needs and burden associated with the management of the disease.
In analyzing the challenges the diabetes space is facing and the observed trends and dynamics for the geographies of focus, the report examines diabetes as a major and growing challenge to healthcare systems and patients, which makes this a space of high opportunity, further corroborated by the level of industry research, funding, and continuous innovation.
The most notable advance is the development of closed-loop systems, combining the capabilities of insulin delivery, continuous glucose monitoring, and digital health, which is leading to more patient-centric solutions. As a result, major players within the space are leveraging collaborations and partnership opportunities to own as many components of the diabetes management loop as possible.
In exploring deal flow and product pipeline, the study’s analysis suggests that companies are prioritizing the development of non-invasive continuous glucose monitoring solutions and will continue to focus on digital diabetes platforms/algorithms aimed at improving patient adherence and outcomes.
- Diabetes Management Devices Market Trends 2023: Executive Summary
- Diabetes Management Devices Market Trends 2023
About Alira Health
Alira Health is an international patient-centric and technology-enabled advisory firm whose mission is to humanize healthcare. We work with healthcare and life sciences organizations looking for support across their entire solutions lifecycle. From development to medical care, we complement our clients’ expertise with a full spectrum of services including research and clinical development solutions, technology-powered consulting, and real-world evidence. Alira Health’s integrated and multidisciplinary team of over 800 scientists, strategists, economists, clinicians, and biostatisticians collaborate across our North American, European, and Asian offices and advise 75% of the top 50 Pharma companies and 80% of the top 50 MedTech companies.