Digital Diabetes Management Market is expected to register 20.8% CAGR and reach a value of USD 86.6 Billion by 2030.
Digital Diabetes Management Market Overview:
The digital diabetes management market is accounted for USD 86.6 billion in 2030 and expected to register 20.8% CAGR during the forecast period (2022–2030). Computerized diabetes the executives help diabetes patients to customize and follow diabetes by using progressed ideal models of advanced innovations through shrewd glucose meters and blood glucose following applications.
Variable like the rising commonness of diabetes, expanding interest for taking care of oneself, innovative headways, rising geriatric populace, and government drive are supposed to drive the development of the market. Besides, rising R&D spending and forceful methodologies took on by the top players, for example, new item dispatches are adding to the development of the market.
The worldwide advanced diabetes the executive’s market is projected to arrive at USD 25.5 billion by 2027 from an expected USD 14.3 billion of every 2022, at a CAGR of 12.2% during the estimate time frame.
The rising commonness of diabetes has expanded the attention on the turn of events and reception of improved answers for diabetes care. Likewise, progressions in advancements have guaranteed the presentation of profoundly adaptable arrangements on the lookout.
The rising reception of cloud-based undertaking arrangements and the developing utilization of associated gadgets and applications are a portion of the other central point supporting business sector development.
In any case, factors, for example, the high gadget costs, absence of repayment in agricultural nations, and the higher acknowledgment of conventional diabetes the board gadgets are supposed to limit the development of this market during the figure time frame.
The main considerations driving the development of the market are expansion in reception of cell phones and tablets combined with medical services applications and flood in the diabetic populace worldwide.
As opposed to these, the market development is hampered by absence of mindfulness with respect to computerized diabetes the board in non-industrial nations and patient information security concerns. Running against the norm, developing business sectors offer huge open doors for the development of worldwide advanced diabetes the board market.
The digital diabetes management market has been segmented on the basis of type, product and services, end user, and region.
On the basis of type, the market has been classified as wearable devices and handheld devices. The market, by product and service, has been segmented into devices, data management software and platforms, digital diabetes management apps, and services. The devices have been further segmented into smart glucose meters, smart insulin pens, continuous glucose monitoring systems, smart insulin pumps/closed loop systems & smart insulin patches. Moreover, digital diabetes management apps have been sub-segmented into weight & diet management apps and diabetes & blood glucose tracking apps. Based on end user, the market has been segmented into homecare, hospitals & specialty diabetes clinics, academic & research institutes, and others. The wearable devices segment is expected to hold the largest market share of the digital diabetes management market, by type, during the forecast period owing to regulatory approval of CGM system and technological advancement such as smart insulin patches. Also, homecare segment, by end user holds the largest market share in the digital diabetes management global market during the forecast period.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The digital diabetes management market in the Americas has further been segmented into North America and South America. Whereas, North American region has been further divided into the US and Canada.
The European digital diabetes management market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the Rest of Western Europe.
The digital diabetes management market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and Rest of Asia-Pacific. The digital diabetes management global market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Digital Diabetes Management Global Market Share, by Region, 2017 (%)
Source: MRFR Analysis
The Americas are likely to dominate the global digital diabetes management market owing to the wide acceptance of technologically advanced solutions such as closed-loop control systems, rising adoption of diabetes management remote online coaching services, connected diabetes management apps. Moreover, favorable reimbursement policies, raising awareness, government initiatives to promote digital health, and aggressive strategic adopted by players such as product launch, merger & acquisition, and partnership in this region also fueling the growth of digital diabetes management market. For instance, in November 2018, Nutrino has been acquired by Medtronic plc that strengthened Medtronic's portfolio in the digital diabetes management Industry.
The European market is expected to be the second-largest digital diabetes management market. The market growth in this region can be attributed to the government support for research & development and availability of funds for research.
Asia-Pacific is expected to be the fastest-growing digital diabetes management market during the forecast period owing to the rising number of the diabetes patient, increasing investments in healthcare and expansions by market players in the region. Moreover, countries such as India and China are considering the fastest growing region due to the presence of a huge patient population. Moreover, the government of these countries is open to adopting new technology and the best treatment option from a developed country. According to a research paper published by the National Center for Biotechnology Information (NCBI) in September 2016, diabetes will be the 7th leading cause of death by 2030.
The market in the Middle East & Africa is expected to account for the smallest share of the global digital diabetes management market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Some of the key players in the global digital diabetes management market are
Global Digital Diabetes Management Market, by Type
Global Digital Diabetes Management Market, by Product and Service
DevicesSmart Glucose Meters
Smart Insulin Pens
Continuous Glucose Monitoring Systems
Smart Insulin Pumps/Closed Loop Systems & Smart Insulin Patches
Data Management Software and Platforms
Digital Diabetes Management AppsWeight & Diet Management Apps
Diabetes & Blood Glucose Tracking Apps
Global Digital Diabetes Management Market, by End User
Hospitals & Specialty Diabetes Clinics
Academic & Research Institutes
Global Digital Diabetes Management Market, by Region
Rest of Western Europe
Rest of Asia-Pacific
The Middle East & Africa
In October 2018:
Novo Nordisk declared to present two associated insulin pens. Be that as it may, the significant expense related with homecare gadgets and absence of mindfulness might hamper the development of the advanced diabetes the board market during the evaluation time frame.Intended Audience
Medical devices companies
Research and development (R&D) companies
Medical research laboratories
Research and consulting firms
|Market Size||2030: USD 86.6 Billion|
|CAGR||2022-2030: 24.10 %|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product and Service, End User And Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Abbott Laboratories, Agamatrix, Inc., Ascensia Diabetes Care Holdings Ag., B. Braun Melsungen AG, Dariohealth Corporation, Dexcom, Inc., F. Hoffmann-La Roche, Glooko, Inc., Insulet Corporation, Lifescan, Inc., Medtronic PLC, Tandem Diabetes Care, Inc., Tidepool, and others|
|Key Market Opportunities||Adopting new technology and the best treatment option from a developed country|
|Key Market Drivers||The growing prevalence of diabetes is the major driver for the market.|
The Type of devices included in the Digital Diabetes Management Market are Wearable Devices, Handheld Devices.
The market is expected to exhibit a strong 20.8% CAGR over the forecast period from 2022 to 2030.
The growing prevalence of diabetes is the major driver for the market.
North America is the leading regional market, followed by Europe.
Leading players in the digital diabetes management market include B. Braun Melsungen, Abbott, F. Hoffman-La Roche, Agamatrix Inc., and Glooko, among others.
The global digital diabetes management market was valued at more than USD 4.4 billion in 2017.