Diabetes Devices Market Set to Double by 2033 Amid Rising Global Demand
New York, Friday, 20 June 2025.
The diabetes devices market is expected to grow from $33.4 billion in 2024 to $64.8 billion by 2033, driven by technological advancements and increasing diabetes prevalence, with a robust 7.7% annual growth rate.
Drivers Behind the Surge
The global diabetes devices market is poised for significant expansion due to a multitude of factors. Rising global diabetes prevalence and the rapid adoption of advanced monitoring and insulin delivery technologies form the crux of this growth trajectory. In 2024, the market was evaluated at $33.4 billion and is anticipated to nearly double by 2033, reaching approximately $64.8 billion, marking a compound annual growth rate (CAGR) of 7.7% [1][2]. This remarkable growth is attributed to technological innovations in continuous glucose monitoring (CGM) systems and insulin pumps [1].
Economic Impact and Market Dynamics
The growth of the diabetes devices market significantly influences the broader economy by enhancing healthcare outcomes and reducing long-term treatment costs associated with diabetes complications. Government initiatives for healthcare improvement, including increased access to advanced diabetes care solutions, are critical contributors to this market’s expansion [2][3]. Additionally, the FDA approval of cutting-edge devices such as the Eversense 365 CGM in 2024 exemplifies the ongoing commitment to integrate new technologies into diabetes care [4][5].
Regional Focus: Dominant and Emerging Markets
North America leads the global market, reflecting a mature healthcare ecosystem that supports technological adoption and innovation. In 2022, the region’s market was valued at $11.10 billion, expanding to $11.80 billion by 2023 [1]. Europe follows closely, with significant contributions from countries like Germany, France, and the UK, where device adoption is high due to favorable healthcare policies [1][4]. Meanwhile, the Asia-Pacific region, led by China, Japan, and India, emerges as the fastest-growing market due to increasing diabetes rates and investments in healthcare infrastructure [2].
Technological Advances Fuel Growth
Advancements in wearable and connected diabetes management devices play a pivotal role in driving market growth. Companies are focusing on creating fully integrated digital ecosystems that enable real-time data sharing and personalized treatment plans [3][5]. Innovations in these sectors are anticipated to enhance patient compliance and outcomes, contributing to the sustained growth of the diabetes devices market until 2033 [1].