Digital diabetes management involves using software-based applications, platforms, and devices for remote monitoring, analysis, and management of diabetes. It encompasses a range of technologies such as smart glucose meters, insulin pens, sensors, closed-loop systems, and insulin patches. These tools are utilized to effectively manage blood glucose levels, track patient records, and improve healthcare processes. Digital diabetes management finds applications in various settings, including at-home care, self-care, hospitals, clinics, and research institutes. Its adoption contributes to better diabetes control, prevention of complications, and reduced medical costs for patients.
According to Data Bridge Market Research, the Digital Diabetes Management Market accounted for USD 17.74 billion in 2021 and is expected to reach USD 36.93 billion by 2029. The market is expected to grow with a CAGR of 9.60% in the forecast period of 2022 to 2029.
“Technological advancements will bolster the growth due to exceptional properties boosts the market’s growth”
The digital diabetes management market is expected to grow significantly due to technological advancements in the healthcare sector. Innovative technologies such as mobile apps, wearable devices, and cloud-based platforms have revolutionized diabetes management, providing convenient and personalized patient solutions. These advancements enable real-time monitoring, data analysis, and remote patient management, leading to better disease management and patient outcomes. The integration of artificial intelligence and machine learning algorithms further enhances the capabilities of digital diabetes management, driving market growth and improving the quality of care for individuals with diabetes.
What restraints the growth of the digital diabetes management market?
“High cost of solutions restraints the market’s growth”
The high cost of digital diabetes management solutions significantly restrains market growth. While technological advancements have enabled innovative and effective diabetes management tools, the associated costs may limit their accessibility and adoption, particularly in low-income regions or for individuals with limited financial resources. The expenses associated with devices, software, data management, and ongoing support can be prohibitive for many patients and healthcare providers. Addressing the affordability challenge and exploring cost-effective solutions will be crucial to overcoming this barrier and expanding the reach of digital diabetes management in diverse healthcare settings.
Segmentation: Digital Diabetes Management Market
The digital diabetes management market is segmented on the basis of product and services, type and end user.
- On the basis of product and services, the digital diabetes management market has been segmented into devices, digital diabetes management apps, data management software and platforms, services.
- On the basis of type, the digital diabetes management market has been segmented into wearable devices, handheld devices.
- On the basis of application, the digital diabetes management market has been segmented into diabetes and blood glucose tracking apps, obesity and diet management apps, data management software and platforms, services.
- On the basis of end user, the digital diabetes management market has been segmented into home care settings, diabetes clinics, academic and research institutes, others.
Regional Insights: Asia-Pacific dominates the digital diabetes management market
North America dominates the digital diabetes management market because the region benefits from a well-established healthcare infrastructure and favourable reimbursement policies, contributing to its growth. The presence of advanced healthcare facilities and supportive reimbursement systems plays a crucial role in driving the development and adoption of medical technologies and services, ultimately enhancing the overall healthcare landscape.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the increasing prevalence of various types of cancer, including bladder, esophagus, liver, pancreas, and others, coupled with the strong presence of leading manufacturers in the United States, contribute to the market's growth. Additionally, continuous technological advancements and growing foreign investments further drive innovation and expansion in the field of cancer treatment and diagnostics within the region.
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Recent developments
- In November 2020, Abbott's introduction of the FreeStyle Libre system in India has expanded its market presence and product offerings. This advanced device enables real-time monitoring of blood glucose levels, providing users with a comprehensive overview of their glucose levels. The growing availability of such continuous glucose monitoring devices and the introduction of innovative technologies are expected to fuel the growth of this segment in the coming years, enhancing diabetes management and improving the quality of life for individuals with diabetes.
- In November 2020, Ypsomed and Lilly have joined forces to advance the development of an automated insulin delivery system. As part of this collaboration, Lilly has introduced a new version of the insulin pump and continuous glucose monitoring (CGM) system, contributing to its business growth. This partnership has proven beneficial in driving innovation in insulin delivery technology and expanding the options available for individuals with diabetes, ultimately improving their management of the condition.
The Prominent Key Players Operating in the Digital Diabetes Management Market Include:
- Abbott (U.S.)
- PHC Holdings Corporation (Japan)
- WellDoc, Inc (India)
- Sanofi (France)
- Dexcom, Inc (U.S.)
- DarioHealth Corp. (U.S.)
- Medtronic (Ireland)
- B. Braun Melsungen AG (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Insulet Corporation (U.S.)
- Ascensia Diabetes Care Holdings AG (Switzerland)
- Tidepool (U.S.)
- Medtronic (Ireland)
- Tandem Diabetes Care (U.S.)
- LifeScan (U.S.)
- AgaMatrix (U.S.)
- Glooko Inc. (U.S.)
- DarioHealth (Israel)
Above are the key players covered in the report, to know about more and exhaustive list of digital diabetes management market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Digital Diabetes Management Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
