Rising diabetes cases propel medical devices market toward 8.1% CAGR through 2034

The industry is projected to reach $67.39b by end-period.

The global diabetes devices market is projected to grow at a compound annual growth rate (CAGR) of 8.1%, rising to $67.39b by 2034 from $33.32b in 2025, according to Polaris Market Research.

The market was valued at $30.84b in 2024. Insulin delivery devices, including pumps, pens and automated insulin delivery systems, accounted for the largest revenue share in 2024.

Hospital pharmacies secured over 56% of total market revenue in 2024, whilst North America contributed more than 41% of global revenue during the year. Europe and Asia-Pacific are expected to display accelerated growth trajectories.

The report cites rising global prevalence of diabetes and technological advancements in artificial intelligence, machine learning and connected monitoring systems as key factors supporting expansion over the forecast period.