Global Digital Diabetes Management Market Size, Trends, and Analysis- Forecasts To 2026 By Product & Service (Devices [Smart Glucose Meters, Continuous Glucose Monitoring (CGM) Systems, Smart Insulin Pens, Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches], Application [Diabetes & Blood Glucose Tracking Apps, Obesity & Diet Management Apps], Data Management Software & Platforms, Services), By Device Type (Handheld Devices, Wearable Devices), By End-User (Self/Home Healthcare, Hospitals & Specialty Diabetes Clinics, Academic & Research Institutes), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
As of 2019, WHO estimates show that are 422 million people suffering from diabetes globally and is directly responsible for at least 1.6 million deaths annually. Since the last three decades, the healthcare industry is witnessing a sudden rise in the diabetic patients across the world. The growing number of diabetes patients increases the pressure on the global healthcare facilities and is estimated to cost at least 490 billion USD by 2030. Diabetes is a chronic disease that has to be managed properly through continuous monitoring of one’s blood sugar levels and lifestyle choices. Diabetic patients have to live their life with more scrutiny than people without diabetes. Diabetics have to regularly test their blood sugar levels, monitor their diet, their activity levels, and for patients who require insulin, they have to calculate the required dosage. If diabetes is not properly managed, it can cause severe health problems like kidney failures and cardiovascular issues, and in extreme cases can lead to death. With the growing advancements in technology, digital diabetes management products have made it easier for patients to monitor their blood sugar levels. The growing number of diabetes management products in the form of devices and applications are being widely implemented by patients as it allows them to track their blood sugar levels and activities more easily. The growing number of app users as smartphones are becoming more common has increased the number of diabetes management apps in the market. The digital diabetes management market is driven by the growing number of diabetics, poor lifestyle choices, growing geriatric population, and growing technological advancements. The market is restrained by growing data privacy concerns, lack of awareness of digital diabetes management solutions, and the cost of devices.
Based on product and services, the digital diabetes management market is segmented into data management software & platforms, applications, devices, and services. The devices segment held the dominant share of the market. The devices segment includes devices like smart glucose meters, continuous glucose monitoring systems, and smart insulin pens, among others. The continuous glucose monitoring systems is the largest shareholder of the market. Continuous glucose monitoring systems are in high demand as diabetics have to constantly measure their blood sugar levels. Continuous glucose monitoring systems have made it easier for diabetics as they are capable of recording blood sugar levels at regular intervals as small as five minutes and allow diabetics to analyze their activities and better manage their lifestyle. The applications segment will grow faster than other product segment from 2021 to 2026. The applications segment includes diabetes & blood glucose tracking apps, obesity & diet management apps. Diabetes & blood glucose tracking apps held the largest share of the market among applications and are the major drivers for the rapid growth of the applications segment.
According to the type of device, the digital diabetes management market can be segmented into handheld and wearable devices. The wearable devices held the lion’s share of the market. Wearable devices allow diabetics to constantly measure their blood sugar levels and analyze their activities. Wearable devices are driven by the growing technological advancements like artificial intelligence-based insulin delivery systems like smart patches that are capable of releasing insulin doses at specific intervals.
Based on end-users, the digital diabetes management market is segmented into hospitals & specialty diabetes clinics, self/home healthcare, and academic & research institutes. The self/home healthcare segment will be the largest shareholding end-user segment. The growing need for constant monitoring of blood sugar levels and diet monitoring have increased are the major drivers for the growth of this segment. With digital diabetes management solutions, individuals can effectively monitor and control their blood sugar levels without professional intervention. This growing need for being independent, cost benefits, and technological advancements are expected to increase the demand for digital diabetes management solutions in the self/home healthcare segment.
The North American region will top the list of geographical markets from 2021 to 2026. A large number of diabetics in the region due to poor lifestyle choices, growing geriatric population, increased healthcare spending, and the growing penetration of applications in the region are the major growth drivers of the digital diabetes management market in the region. The region is the cradle of technological innovation which has increased the amount of new diabetes management products like applications and devices being developed and released in the region. A large number of app users and heavy spending on healthcare and insurance in the region are all major contributors to the growth of the digital diabetes management market in the region. The APAC region will grow faster in terms of market value than other regions from 2021 to 2026. The region has an increasing number of diabetics, the growing consumer awareness of digital diabetes management solutions, a rising geriatric population, growing government initiatives that facilitate access to diabetes management devices and apps, and the growing number of digital diabetes management vendors in the region are expected to increase the demand for these solutions in the region.
Insulet Corporation (US), B. Braun (Germany), Dexcom (US), Abbott Laboratories (US), Ascensia Diabetes Care (Switzerland), Tidepool (US), Medtronic (Ireland), Tandem Diabetes Care (US), LifeScan (US), AgaMatrix (US), Glooko Inc. (US), Roche Diagnostics (Switzerland), DarioHealth (Israel), among others, are the major vendors competing in the digital diabetes management market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Digital Diabetes Management Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Digital Diabetes Management Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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