New Zealand Diabetes Devices Market Size (2024 - 2029)

The New Zealand Diabetes Devices Market is projected to experience growth over the forecast period, driven by the increasing need for effective diabetes management solutions. This market expansion is influenced by the rising prevalence of diabetes and the critical role of medical devices in managing the condition, particularly for type 1 diabetes patients. Devices such as blood glucose meters, continuous glucose monitors, and insulin pumps are essential for improving glucose regulation and reducing complications. The integration of user-friendly technology, like smartphone applications and smart insulin pens, further enhances diabetes management, contributing to the market's growth trajectory.

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Market Size of New Zealand Diabetes Devices Industry

New Zealand Diabetes Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 435.36 Million
Market Size (2029) USD 512.09 Million
CAGR (2024 - 2029) 3.30 %

Major Players

New Zealand Diabetes Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

New Zealand Diabetes Devices Market Analysis

The New Zealand Diabetes Devices Market size is estimated at USD 435.36 million in 2024, and is expected to reach USD 512.09 million by 2029, growing at a CAGR of 3.30% during the forecast period (2024-2029).

An individual's risk of infection, including other viral infections like the flu, is increased by diabetes. If they get COVID-19, a diabetic patient will likely develop a serious illness and may even pass away. Diabetes type 1 and type 2 patients are at varying levels of risk. Experts generally agree that important parameters like age, additional comorbidities, and diabetes therapy are critical for predicting the possibility of complications. Patients should be aware that if they successfully manage their diabetes, their risk of contracting a severe COVID-19 condition is about the same as that of the general population, as persons with type 1 or type 2 diabetes must concentrate on achieving their objectives during the current pandemic.

Medical devices are important components of type 1 diabetes management. Devices include blood glucose meters, continuous glucose monitors (CGMs), and insulin pumps. These devices have been associated with improved glucose regulation and reduced hypoglycemia. People with diabetes can better manage their insulin supply using user-friendly smartphone software and a reusable injector pen known as a "smart insulin pen." This ingenious system keeps tabs on dosages, computes them, and generates reports, alerts, and reminders-all of which are extremely helpful. They can be reusable device that uses prefilled cartridges rather than vials or single-use pens, or they might be an accessory for your current insulin pen.

New Zealand Diabetes Devices Industry Segmentation

Devices are more user-friendly and minimally intrusive, ranging from blood glucose meters and continuous glucose monitoring (CGM) to advanced insulin pumps and more. The New Zealand Diabetes Devices Market is set to witness a CAGR of more than 3% during the forecast period. The New Zealand Diabetes Devices Market is segmented into management devices (Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, and Jet Injectors), monitoring devices (Self-monitoring Blood Glucose and Continuous Glucose Monitoring). The report offers the value (in USD million) and volume (in Units million) for the above segments.

Monitoring Devices
Self-monitoring Blood Glucose Devices (Value and Volume, 2017 - 2028)
Glucometer Devices
Test Strips
Lancets
Continuous Blood Glucose Monitoring (Value and Volume, 2017 - 2028)
Sensors
Durables
Management Devices
Insulin Pump (Value and Volume, 2017 - 2028)
Insulin Pump Device
Insulin Pump Reservoir
Infusion Set
Insulin Syringes (Value and Volume, 2017 - 2028)
Insulin Cartridges (Value and Volume, 2017 - 2028)
Disposable Pens (Value and Volume, 2017 - 2028)
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New Zealand Diabetes Devices Market Size Summary

The New Zealand diabetes devices market is poised for steady growth over the forecast period, driven by the increasing prevalence of diabetes and the critical role of medical devices in managing the condition. Devices such as blood glucose meters, continuous glucose monitors (CGMs), and insulin pumps are integral to diabetes management, offering improved glucose regulation and reduced hypoglycemia. The market is characterized by a preference for cost-effective self-monitoring blood glucose meters, although the adoption of CGMs is expected to rise despite limited public healthcare coverage and high out-of-pocket costs. The introduction of innovative products, such as less painful lancet devices and smart insulin pens, is anticipated to further stimulate market expansion. The market landscape is highly fragmented, with key players like Eli Lilly, Sanofi, Novo Nordisk, and Dexcom focusing on product launches and technological collaborations to strengthen their market presence.

The economic impact of diabetes in New Zealand is significant, with rising personal health costs contributing to the overall financial burden on the healthcare system. The market's growth is supported by strict government regulations and WHO guidelines aimed at enhancing patient compliance and reducing complications. Despite the challenges posed by a declining workforce and an aging population, the market is expected to continue its upward trajectory, driven by the demand for advanced diabetes management solutions. The introduction of Abbott's cutting-edge diabetes technology and Dexcom's G7 CGM system highlights the ongoing innovation in the sector, catering to the needs of both type 1 and type 2 diabetes patients. As the market evolves, the focus remains on improving accessibility and affordability of diabetes devices, ensuring that patients receive the necessary support to manage their condition effectively.

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New Zealand Diabetes Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

      2. 1.2.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products and Services

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. Market Segmentation

    1. 2.1 Monitoring Devices

      1. 2.1.1 Self-monitoring Blood Glucose Devices (Value and Volume, 2017 - 2028)

        1. 2.1.1.1 Glucometer Devices

        2. 2.1.1.2 Test Strips

        3. 2.1.1.3 Lancets

      2. 2.1.2 Continuous Blood Glucose Monitoring (Value and Volume, 2017 - 2028)

        1. 2.1.2.1 Sensors

        2. 2.1.2.2 Durables

    2. 2.2 Management Devices

      1. 2.2.1 Insulin Pump (Value and Volume, 2017 - 2028)

        1. 2.2.1.1 Insulin Pump Device

        2. 2.2.1.2 Insulin Pump Reservoir

        3. 2.2.1.3 Infusion Set

      2. 2.2.2 Insulin Syringes (Value and Volume, 2017 - 2028)

      3. 2.2.3 Insulin Cartridges (Value and Volume, 2017 - 2028)

      4. 2.2.4 Disposable Pens (Value and Volume, 2017 - 2028)

New Zealand Diabetes Devices Market Size FAQs

The New Zealand Diabetes Devices Market size is expected to reach USD 435.36 million in 2024 and grow at a CAGR of 3.30% to reach USD 512.09 million by 2029.

In 2024, the New Zealand Diabetes Devices Market size is expected to reach USD 435.36 million.

New Zealand Diabetes Devices Report Snapshots

New Zealand Diabetes Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)