Global Smart Diabetes Management Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2023 –2030 |
 Market Size (Base Year) |
USD 6.47 Billion |
 Market Size (Forecast Year) |
USD 19.80 Billion |
 CAGR |
% |
| Major Markets Players |
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Global Smart Diabetes Management Market, By Devices (Smart Glucose Meters, Continuous Glucose Monitoring Systems, Smart Insulin Pens, Smart Insulin Pumps, Closed Loop Systems), Devices Type (Handheld Devices, Wearable Devices), Application (Diabetes and Blood Glucose Tracking Apps, Obesity and Diet Management Apps), Diabetes Type (Type 1 Diabetes, Type 2 Diabetes), End Use (Home Healthcare, Hospitals, Specialty Diabetes Clinics) – Industry Trends and Forecast to 2030.
Smart Diabetes Management Market Analysis and Size
According to the International Diabetics Federation (IDF), 578 million adults will have diabetes by 2030, rising to 700 million by 2045. The number of diabetic patients is increasing, which can be attributed to various environmental, genetic, demographic, and socioeconomic factors. Obesity, an unhealthy diet, alcohol consumption, tobacco use, a decrease in physical activity, and other factors are among the causes. These causes are aided by increased urbanization and a changing lifestyle that includes consuminghigher-calorie and processed foods. As a result, the increasing prevalence of diabetes, combined with technological advancements in the healthcare industry, has created a need to develop and adopt smarter equipment to treat the disease.
Data Bridge Market Research analyses that the smart diabetes management market which is USD 6.47 billion in 2022, is expected to reach USD 19.80 billion by 2030, at a CAGR of 15% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Smart Diabetes Management Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015 - 2020) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Devices (Smart Glucose Meters, Continuous Glucose Monitoring Systems, Smart Insulin Pens, Smart Insulin Pumps, Closed Loop Systems), Devices Type (Handheld Devices, Wearable Devices), Application (Diabetes and Blood Glucose Tracking Apps, Obesity and Diet Management Apps), Diabetes Type (Type 1 Diabetes, Type 2 Diabetes), End Use (Home Healthcare, Hospitals, Specialty Diabetes Clinics) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Abbott (U.S.), PHC Holdings Corporation (Japan), WellDoc, Inc (India), Sanofi (France), Dexcom, Inc (U.S.), DarioHealth Corp. (U.S.), Medtronic (Ireland), B. Braun SE (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Insulet Corporation (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland), Tidepool (U.S.), Tandem Diabetes Care (U.S.), LifeScan (U.S.), AgaMatrix (U.S.), Glooko Inc. (U.S.), DarioHealth (Israel) |
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Market Opportunities |
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Market Definition
Diabetes is a chronic disease that requires careful management of medication, diet, and exercise. With the help of smartphone technology, information and communication technology now provides various facilities to patients and medical specialists to manage various diseases in an efficient manner.
Smart Diabetes Management Market Dynamics
Drivers
- Rising people awareness and literacy
People's awareness and literacy about the use of technology, smartphones, wearable devices, and applications is also increasing due to their ease of use and convenience. Products such as Continuous Glucose Monitoring Systems (CGM) provide continuous monitoring of glucose levels, which is stored and transmitted to a doctor or healthcare professional, allowing for a better analysis of the health condition and providing alerts in case the glucose levels drop too low or rise too high, allowing for an immediate action that could save a life. Smart Insulin Pumps inject insulin into the body in response to glucose level data provided by CGM; such benefits can be lifesaving and significantly help in reducing the side effects of diabetes. These elements propel market expansion.
- Increase in product approval rates
With the subsequent increase in product approval rates, companies are focusing their efforts on launching new diabetes management products, whether devices or apps. The deployment of this strategy is also due to a rise in consumer preference for innovative and simple-to-use products. Accu-Chek Guide, a blood glucose monitoring system, was introduced in August 2016 by F. Hoffmann-La Roche Ltd. Furthermore, in June 2017, Medtronic introduced the MiniMed 670G system for the treatment of type 1 diabetes. These launches were followed by a slew of new products that not only simplified diabetes management for patients and clinicians, but also improved results accuracy.
Opportunities
- Winning strategies to tackle market turbulence
Leading players in the smart diabetes management market rely on acquisitions and collaborations to establish a global presence. These alliances primarily aim to expand reach in regional markets and gain technological strength to provide better diabetes care solutions. For instance, in January 2018, GlucoMe integrated with the Apollo Sugar Clinic in India, allowing it to expand its product portfolio and customer reach in India. Similarly, it entered into a collaboration with Merck KGaA to strengthen its digital diabetes care solutions and expand its consumer base. Companies are also forming alliances with leading pharmaceutical companies to develop and supply advanced diabetes care technologies and products.
Restraints/Challenges
- High cost of services
During the forecast period, the market may encounter some impediments, such as the high cost of services to obtain and the lack of return compensation for smart diabetes management services. Acceptance of traditional solutions in the face of emerging new successions may hamper the market growth between 2023 and 2030.
This smart diabetes management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart diabetes management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Smart Diabetes Management Market
The COVID 19 pandemic has boosted the growth of the digital diabetes management devices market. Blood glucose control became critical for patients admitted to hospitals with severe lung infections. The medications used to treat the disease caused a significant change in the patient's blood glucose levels. Furthermore, the Centers for Disease Control and Prevention stated that people with diabetes diagnosed with COVID-19 were admitted to critical care. As a result, the demand for smart diabetes management has increased significantly.
Recent Developments
- In 2021, Roche and the Zur Rose Group announced a collaboration to help people with diabetes and those who care for them manage their daily medications. Roche Diabetes Care and the Zur Rose Group are collaborating to connect their healthcare goods and solutions with those of top-tier third parties to improve the lives of those with diabetes.
- In 2022, Germany will serve as the launched market for this offering in 2022, with additional European countries likely to follow suit.
Global Smart Diabetes Management Market Scope
The smart diabetes management market is segmented on the basis of devices, devices type, application, diabetes type and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Devices
- Smart Glucose Meters
- Continuous Glucose Monitoring Systems
- Smart Insulin Pens
- Smart Insulin Pumps
- Closed Loop Systems
Devices Type
- Handheld Devices
- Wearable Devices
Application
- Diabetes and Blood Glucose Tracking Apps
- Obesity and Diet Management Apps
Diabetes Type
- Type 1 Diabetes
- Type 2 Diabetes
End Use
- Home Healthcare
- Hospitals
- Specialty Diabetes Clinics
Smart Diabetes Management Market Regional Analysis/Insights
The smart diabetes management market is analyzed and market size insights and trends are provided by country, devices, devices type, application, diabetes type and end use as referenced above.
The countries covered in the smart diabetes management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart diabetes management market due to the high prevalence of diabetic population and lucrative reimbursement polices.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the focus of various established market players to expand their presence in this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The smart diabetes management market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for smart diabetes management market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the smart diabetes management market. The data is available for historic period 2011-2021.Competitive Landscape and Smart Diabetes Management
Market Share Analysis
The smart diabetes management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart diabetes management market.
Some of the major players operating in the smart diabetes management market are:
- Abbott (U.S.)
- PHC Holdings Corporation (Japan)
- WellDoc, Inc (India)
- Sanofi (France)
- Dexcom, Inc (U.S.)
- DarioHealth Corp. (U.S.)
- Medtronic (Ireland)
- B. Braun SE (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Insulet Corporation (U.S.)
- Ascensia Diabetes Care Holdings AG (Switzerland)
- Tidepool (U.S.)
- Tandem Diabetes Care (U.S.)
- LifeScan (U.S.)
- AgaMatrix (U.S.)
- Glooko Inc. (U.S.)
- DarioHealth (Israel)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
