Diabetes Wearables Market Based on Product Type(Stick-Free Glucose Testing, Non-invasive Glucose Monitoring, and Others), Based on Grade Type(Consumer-grade, Clinical-grade), Based on Application(Remote Patient Monitoring, General Health & Fitness, Home Healthcare), Based on Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region and Companies Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.

Diabetes Wearables Market Overview

The Diabetes Wearables Market is projected to reach a valuation of USD 36.25 Bn by 2032 at a CAGR of 6.3%, from USD 20.92 Bn in 2021.

Diabetes wearable devices are electronic gadgets that record and store health data from patients in order to help them manage their symptoms as they go about their daily routines. A focus on fitness and healthy living have given wearables a wide range of applications. Diabetes is a leading cause of death worldwide.

Traditionally, individuals with diabetes check their glucose levels by pricking their fingers to get a drop of blood with lancing devices many times a day which can be analyzed with a glucose meter.

Wearable diabetes devices are now available in the market to help diabetics in this process. Continuous Glucose Monitors (CGM) and insulin pumps are examples of wearable diabetic devices that help measure glucose levels in fluid beneath the skin. Insulin pumps and CGMs can make managing blood glucose levels considerably easier and more efficient for people.

Detailed Segmentation

The global diabetes wearables market is segmented on the basis of – Product Type, Grade Type, Application, Distribution Channel, and Regions.

Based on Product Type

• Stick-Free Glucose Testing
• Non-invasive Glucose Monitoring
• Closed-Loop Systems
• Smart Pens

Based on Grade Type

• Consumer-grade
• Clinical-grade

Based on Application

• Remote Patient Monitoring
• General Health & Fitness
• Home Healthcare

Based on Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on Regions

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

This industry’s growth is being bolstered by the surging prevalence of diabetes and obesity, which is being influenced by factors such as the adoption of poor nutritional lifestyles and a lack of physical activity, all of which increase the risk of diabetes.

Greater awareness of the benefits associated with healthy lifestyles and fitness, the expansion of technically advanced devices, booming geriatric populations, cost restraints in healthcare provision, robust penetration of 3G and 4G networks for continuous healthcare services, as well as widespread smartphone saturation are key factors expected to augment the diabetes wearables market.

The need for diabetic wearables is being complemented by an increase in smartphone-based healthcare apps and a growing preference for wireless connectivity among healthcare providers.

The diabetes wearables market is growing at an exponential rate in emerging markets with governmental entities introducing advancements in the field of wearable devices. Another developing component being actively implemented by prominent manufacturers and researchers is a growing focus on research & development efforts.

There are a number of factors that have contributed to the increase in popularity of diabetes wearable devices, one of the most important of them is that wearable technology has the potential to improve a patient’s quality of life by allowing for continuous blood glucose monitoring.

To enhance the usability and functionalities of these devices for practical usage, issues such as user acceptance, ethics, security, and big data problems in diabetes wearables must be addressed. Moreover, wearable diabetes device patent protection, limited battery life, and device design complexity may hinder market growth to a certain extent.

Key Players:

• F. Hoffmann-La Roche Ltd.
• Senseonics Holdings
• Sano Intelligence Inc.
• GraphWear Technologies Inc.
• PKvitality
• Pops Diabetes Care
• PHC Holdings Corporation
• LifeScan Inc.
• Ascensia Diabetes Care Holdings AG
• Abbott Laboratories
• Tandem Diabetes Care
• Other Key Players
• Key Developments

The CE mark has been given to Abbott’s freestyle® libre 3 system, which includes the world’s smallest, thinnest sensor with a best-in-class performance at a low cost for diabetics.
PKvitality announced the start of its First-in-Human clinical trial for K’Watch Glucose, the world’s first Continuous Glucose Monitoring smartwatch.

For the XXXXX Market research study, the following years have been considered to estimate the market size: