Digital Diabetes Management Market, By Type (Wearable Devices, Handheld Devices), By Product (Smart glucose meter, Continuous blood glucose monitoring systems, Smart insulin pumps, Smart insulin pens, Apps) By Region – Global Analysis Forecast Till 2030

The Global Digital Diabetes Management market is expected to hit around US$ 93.12 Billion by 2030 and is expected to grow at a CAGR of 19.44% from 2022 to 2030.

Digital Diabetes Management refers to electronic healthcare solutions for remote monitoring, analyzing, and managing diabetic patients. Diabetes is a metabolic disorder that raises blood sugar levels in the body. Digital diabetes management includes software-based applications, platforms, and devices such as smart blood glucose meters, insulin pens, sensors, closed-loop systems, and insulin patches. These systems manage blood sugar, blood pressure, and cholesterol levels and effectively track and maintain patient records. It also helps to improve healthcare processes, delay or prevent diabetes complications, and minimize healthcare costs for patients. As a result, it is widely used in home and self-care facilities, hospitals, clinics, and research institutions.

Market Dynamics:

Drivers:

The increasing prevalence of diabetes and obesity across the globe is one of the critical factors driving digital diabetes management market growth. In addition, increasing public health awareness is providing impetus to market growth. Furthermore, patients with diabetes-related conditions widely adopt digital diabetes management solutions and advanced devices such as smart insulin pens to record each dose and transmit related data. In addition, various technological advances, such as artificial intelligence (AI), the Internet of Things (IoT), and combining big data solutions and connected devices, are acting as another growth factor.

Both patients and healthcare providers use this innovative system to receive personalized, real-time updates regarding a patient's hypoglycemic index. Solution providers are also designing user-friendly systems and wearable devices to facilitate self-monitoring of blood glucose levels. Other factors, including rising healthcare spending by the public and rapid digitization of the healthcare industry, are expected to drive the digital diabetes management market toward growth.

Restraints:

The lack of reimbursement facilities in underdeveloped countries is the major factor expected to hamper the progress of the digital diabetes management market during the forecast period. In addition, growing concerns about data security and declining penetration in developing countries are expected to hinder the digital diabetes management market in the future.

Key players:

• Abbott laboratories

• ACON LABORATORIES, INC.

• Bayer AG.

• BECTON, DICKINSON AND COMPANY

• DEXCOM, INC

• HOFFMANN-LA ROCHE LTD.

• Johnson and Johnson

• Medtronic Plc.

• NOVO NORDISK A/S

• Terumo corporation.

Market Segmentation:

Digital Diabetes Management Market, By Type

• • Handheld Devices

  • Wearable Devices

 Digital Diabetes Management Market, By Product

• • Continuous blood glucose monitoring systems

  • Smart glucose meter

  • Smart insulin pumps

  • Smart insulin pens

  • Apps

Digital Diabetes Management Market, By Region

• • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • LAMEA

    • Brazil

    • Saudi Arabia

    • South Africa

    • Rest of LAMEA

Regional Analysis:

North America dominated he market in 2021 with a revenue share of over XX% owing to the availability of advanced technology and the recent approval of many digital blood glucose patient monitoring devices. For example, in January 2022, Insulet Corporation announced that it had received clearance from the US FDA for its Omnipod 5 automated insulin delivery system that integrates with its Dexcom G6 continuous glucose monitoring (CGM). Facilitates remote patient monitoring and data transmission via the Omnipod 5 mobile app with an integrated SmartBolus calculator. In addition, the growing geriatric population and increasing burden of diabetes due to lifestyle changes are expected to accelerate the market growth.

The Asia Pacific region is expected to witness exponential growth during the forecast period owing to new product launches, a large diabetic population base, and growing government initiatives. For example, in January 2022 the Australian Center for Accelerating Diabetes Innovation (ACADI) at the University of Melbourne announced that it would receive XX million over four years from the federal government. ACADI will be a new virtual research center connecting research centers across Australia and helping important industry partners and organizations develop new treatments, technologies, and behavioral interventions to address challenges related to diabetes in Australia.

Scope of the Report:

User

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