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Global Diabetes Devices Market to 2024

  • 29
  • |
  • Oct, 2018
  • |
  • Diabetes Care Devices
  • |
  • Pages
  • |
  • Global

Market Overview, Key in-line Products, Market Share Distribution, Competitive Dynamics, Regulatory Outlook, Pipeline Development, Growth Catalysts & Challenges, Leading Market & R&D Trends, Partnership & Deals Analyses, Global Sales forecast of in-line and pipeline products, Fast Growing Private Companies, Management Perspectives, Commentaries, Market Outlook & Summary Conclusions
There are 415 million people afflicted with diabetes globally in 2015, growing to an estimated 642 million by 2040. Individuals with Type I, that roughly comprise about 10% of cases, and insulin-requiring Type II cases that account for about 25% of diagnosed Type II cases, in general, comprise the target markets for diabetes devices.
 
The majority of diabetes technologies designed and developed in the past several years have centered around measuring glucose levels or administering insulin, with glucose meters, insulin pens, insulin pumps, and continuous glucose monitoring (CGM) being the four major technologies people with diabetes use most often.  
 
The overall diabetes devices market was valued at $12.5bn in 2015 and is forecast to reach $16bn in 2020, growing at 4.2% CAGR between 2015 and 2020.
 
Traditional glucose meters continue to remain the mainstay of the treatment landscape. The market is large but is reaching saturation amid rising competitive intensity. Moreover the massive price erosion and lack of product differentiation in the last 5 years makes the outlook challenging for this segment.  
 
There is well-established evidence highlighting the importance of intensive glucose management for improved clinical outcomes making a strong case for a positive and healthy outlook for the sector. Both insulin pumps and continuous glucose monitoring (CGM) devices have been demonstrated to improve glucose management in select patient segment.
 
There is a growing adoption of insulin pumps in last few years. While the insulin pump market has initially been focused on the Type I diabetes population since its launch, the insulin-using Type II population has much increased growth potential given the growth in newly diagnosed patients and the steady progression of those patients requiring insulin therapy.  
 
The silver lining in the diabetes device space is continuous glucose monitoring devices, popularly known as CGM. This disruptive new technology has the potential to redefine and revolutionize the diabetes device market. KOLs believe CGMs to become the standard of care in type I diabetes population. Although this market is currently small, the future looks very promising. There are signs of increased uptake and the penetration and commercial opportunity could far exceed that of insulin pumps in medium to longer term.
 
The large players in the diabetes devices space are Medtronic, J&J, Roche & Abbott. These companies have historically built these franchises through acquisitions. It is expected that these large players will continue to grow their business inorganically going forward. The pure play diabetes device companies such as Inslulet, Tandem and Dexcom have gathered significant momentum in the past 5-7 years and have emerged as formidable and dominant force in the industry. These companies continue to forge disruptive alliance and partnerships with technology companies to develop substantially innovative product portfolio to gain competitive edge with a goal to offer products with significant differentiation and improved clinical outcome.    
 
From the end-market mix perspective, US and Europe together contribute for roughly 80% of the large and sizable traditional blood glucose meters with Rest of the World (RoW) accounting the remaining 20%. However the distribution in the Rest of the World (Ex US & EU) for Insulin pumps and CGMs is very small as these technologies are relatively new and underpenetrated due to the high cost of the devices for a largely self-pay market and lack of a robust payor coverage.  
 
Reimbursement coverage for insulin pumps in the US is well established with the exception of coverage from Medicare. Internationally, insulin pump penetration is much lower, due in part to unfavorable reimbursement from government sponsored health insurance plans. Outside of the US, Europe represents the most developed market for insulin pump therapy. Going forward, additional clinical data demonstrating the benefits of using insulin pump therapy among insulin-dependent type II diabetics should help to improve insurance reimbursement of insulin pumps for this population and create additional avenues for growth. Based on new data from some key clinical trials, obtaining reimbursement for CGM has become less burdensome lately. Many insurance companies have begun to cover CGM systems on the back of favorable clinical data and health outcome. This is going to drive the usage of CGM in the foreseeable future.  
 
The product pipeline of diabetes device players look promising with companies targeting key advancements in (1) continued accuracy improvement, (2) increased connectivity to mobile devices, cloud, and providers, (3) reduced calibrations, (4) extended per day wear and (5) expanded patient access among others.
 
The diabetes device features among the high growth segments of the medical products sector and is expected to build strong momentum in the foreseeable future. The emerging and innovative players in the space continue to experience high barriers to entry but they can play in the data solution side, which offer lucrative value propositions. There remains a strong market opportunity to improve outcomes through data and device integration tools and services side of diabetes management spectrum. This is viewed as an exciting area of growth in the space for both the existing players and new incumbents.

Market Overview, Key in-line Products, Market Share Distribution, Competitive Dynamics, Regulatory Outlook, Pipeline Development, Growth Catalysts & Challenges, Leading Market & R&D Trends, Partnership & Deals Analyses, Global Sales forecast of in-line and pipeline products, Fast Growing Private Companies, Management Perspectives, Commentaries, Market Outlook & Summary Conclusions
There are 415 million people afflicted with diabetes globally in 2015, growing to an estimated 642 million by 2040. Individuals with Type I, that roughly comprise about 10% of cases, and insulin-requiring Type II cases that account for about 25% of diagnosed Type II cases, in general, comprise the target markets for diabetes devices.
 
The majority of diabetes technologies designed and developed in the past several years have centered around measuring glucose levels or administering insulin, with glucose meters, insulin pens, insulin pumps, and continuous glucose monitoring (CGM) being the four major technologies people with diabetes use most often.  
 
The overall diabetes devices market was valued at $12.5bn in 2015 and is forecast to reach $16bn in 2020, growing at 4.2% CAGR between 2015 and 2020.
 
Traditional glucose meters continue to remain the mainstay of the treatment landscape. The market is large but is reaching saturation amid rising competitive intensity. Moreover the massive price erosion and lack of product differentiation in the last 5 years makes the outlook challenging for this segment.  
 
There is well-established evidence highlighting the importance of intensive glucose management for improved clinical outcomes making a strong case for a positive and healthy outlook for the sector. Both insulin pumps and continuous glucose monitoring (CGM) devices have been demonstrated to improve glucose management in select patient segment.
 
There is a growing adoption of insulin pumps in last few years. While the insulin pump market has initially been focused on the Type I diabetes population since its launch, the insulin-using Type II population has much increased growth potential given the growth in newly diagnosed patients and the steady progression of those patients requiring insulin therapy.  
 
The silver lining in the diabetes device space is continuous glucose monitoring devices, popularly known as CGM. This disruptive new technology has the potential to redefine and revolutionize the diabetes device market. KOLs believe CGMs to become the standard of care in type I diabetes population. Although this market is currently small, the future looks very promising. There are signs of increased uptake and the penetration and commercial opportunity could far exceed that of insulin pumps in medium to longer term.
 
The large players in the diabetes devices space are Medtronic, J&J, Roche & Abbott. These companies have historically built these franchises through acquisitions. It is expected that these large players will continue to grow their business inorganically going forward. The pure play diabetes device companies such as Inslulet, Tandem and Dexcom have gathered significant momentum in the past 5-7 years and have emerged as formidable and dominant force in the industry. These companies continue to forge disruptive alliance and partnerships with technology companies to develop substantially innovative product portfolio to gain competitive edge with a goal to offer products with significant differentiation and improved clinical outcome.    
 
From the end-market mix perspective, US and Europe together contribute for roughly 80% of the large and sizable traditional blood glucose meters with Rest of the World (RoW) accounting the remaining 20%. However the distribution in the Rest of the World (Ex US & EU) for Insulin pumps and CGMs is very small as these technologies are relatively new and underpenetrated due to the high cost of the devices for a largely self-pay market and lack of a robust payor coverage.  
 
Reimbursement coverage for insulin pumps in the US is well established with the exception of coverage from Medicare. Internationally, insulin pump penetration is much lower, due in part to unfavorable reimbursement from government sponsored health insurance plans. Outside of the US, Europe represents the most developed market for insulin pump therapy. Going forward, additional clinical data demonstrating the benefits of using insulin pump therapy among insulin-dependent type II diabetics should help to improve insurance reimbursement of insulin pumps for this population and create additional avenues for growth. Based on new data from some key clinical trials, obtaining reimbursement for CGM has become less burdensome lately. Many insurance companies have begun to cover CGM systems on the back of favorable clinical data and health outcome. This is going to drive the usage of CGM in the foreseeable future.  
 
The product pipeline of diabetes device players look promising with companies targeting key advancements in (1) continued accuracy improvement, (2) increased connectivity to mobile devices, cloud, and providers, (3) reduced calibrations, (4) extended per day wear and (5) expanded patient access among others.
 
The diabetes device features among the high growth segments of the medical products sector and is expected to build strong momentum in the foreseeable future. The emerging and innovative players in the space continue to experience high barriers to entry but they can play in the data solution side, which offer lucrative value propositions. There remains a strong market opportunity to improve outcomes through data and device integration tools and services side of diabetes management spectrum. This is viewed as an exciting area of growth in the space for both the existing players and new incumbents.


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