Global digital diabetes management market is expected to reach USD 37,505.42 million by 2026 from USD 11,986.12 million in 2019, at a CAGR of 17.8% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The digital diabetes management market is a highly concentrated market which includes key players and local players. The market has witnessed various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to rising number of geriatric population and increasing prevalence of diabetes. The initiatives taken by the government to create awareness and healthcare programs which offers healthcare benefits which is also posing as an opportunity for the market.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, In February 2019, AgaMatrix Inc announced partnership with BIOCORP, which specialises in the development and manufacturing of smart drug delivery systems and medical devices. Under the terms of agreement, AgaMatrix Inc. received non-exclusive rights to distribute Mallya in the U.S, Europe, and U.K. market as well as also received rights to license and distributes the device in the US white label market.
F. Hoffmann-La Roche Ltd dominated the digital diabetes management market and accounts for the highest market share in 2018 which is followed by Medtronic and Novo Nordisk. The other key players existing in the market includes Abbott, PHC Holdings Corporation, WellDoc, Inc, Sanofi, Dexcom, Inc, DarioHealth, B. Braun Melsungen AG, Insulet Corporation, Tandem Diabetes Care, Lifescan, Inc, Agamatrix, Inc, Glooko, Inc, GlucoMe, Becton, Dickinson and Company, Azumio, Diabnext, Voluntis, Smart Meter LLC.
F. Hoffmann-La Roche Ltd:
F. Hoffmann-La Roche Ltd headquartered in Grenzacherstrasse, Switzerland and was founded in 1896. The company is engaged in research & development, manufacturing and marketing of healthcare products. The company has two operating divisions which are pharmaceuticals and diagnostics. The pharmaceutical segment is involved in R&D and manufacturing of medicines used in oncology, inflammation/immunology, neuroscience, infectious diseases, ophthalmology and others. Diagnostic segment of the company involved in their business in centralised and point of care solutions, molecular diagnostics, tissue diagnostics and diabetes care. Diagnostic segment is the market focused segment. The pharmaceutical segment revenue was USD 40874.64 million in 2018 and USD 40123.18 million in 2017. The revenue of pharmaceutical segment has increased to 1.87% compared to previous year. The diagnostic segment revenue was USD 19193.19 million in 2018 and USD 20313.55 million in 2017. The revenue of diagnostic segment is decreased by 5.52% when compared to previous year. The company has various subsidiaries such as Genentech Inc. (U.S), Roche Diagnostics Limited (U.K), Flatiron Health, Inc (U.S), mySugr GmbH (Austria) and others.
Medtronic headquartered in Dublin, Ireland was founded in 1949. The company is focused in developing and manufacturing a wide range of products and therapies which emphasis on providing a complete continuum of care to diagnose, prevent and monitor chronic conditions. The company operates through three business segments which includes cardiac and vascular group, minimally invasive therapies group, pain therapies, and diabetes group. Diabetes group segment is the market focused segment. The revenue of diabetes segment was USD 2,140 million in 2018 and in 2017 the revenue was USD 1,927 million which is increased by 11.05% compared to previous year. The revenue of other segments such as cardiac and vascular group is USD 11,354 million, minimally invasive therapies group USD 8,716 million, and restorative therapies group USD 7,743 million. The products offered by the segment are distributed to wholesalers, hospitals and retailers, medical professionals. It has its global networks through direct sales representatives and distributors in more than 60 countries in the U.S., Non-U.S. Developed, and Emerging Markets. It operates through its subsidiaries such as Covidien plc (Ireland), Sophono, Inc (U.S), Aptus Endosystems, Inc (U.S), Medtronic Japan Co., Ltd (Japan), Medtronic MiniMed, Inc (U.S) and others.
Novo Nordisk is headquartered in Bagsvaerd, Denmark was founded in 1925. The company operate their business in four notable segments such as diabetes, obesity, haemophilia, growth disorder, and other biopharmaceuticals. The revenue generated by diabetes care and obesity has been increased by 1.00% as well as Novo Nordisk is the world leader in diabetes care with a global value market share of 27.9% compared with 27.4% in 2017. Sales of biopharmaceutical product decreased by 5.00% and sales of haemophilia product also decreased by 9.00%. While sales of growth disorders increased by 3.00%. The company has wide geographic presence in more than 60 countries globally. It operates through its subsidiaries such as Ziylo Ltd (U.K), Novo Nordisk Pharmatech A/S (Denmark), Novo Nordisk Pharma GmbH (Germany), Calibrium, LLC (U.S) and others.
Global Digital Diabetes Management Market – Industry Trends - Forecast to 2026
Asia-Pacific Digital Diabetes Management Market – Industry Trends - Forecast to 2026
Europe Digital Diabetes Management Market – Industry Trends - Forecast to 2026
Middle East and Africa Digital Diabetes Management Market – Industry Trends - Forecast to 2026
North America Digital Diabetes Management Market – Industry Trends - Forecast to 2026