Digital Diabetes Management Market

The global digital diabetes management market was valued at $3,375.8 million in 2018 and is projected to reach $17,118.7 million by 2026, registering a CAGR of 22.5% from 2019 to 2026. Diabetes is a chronic condition that affects glucose levels of the body. This condition mainly arises due to inability of pancreas to produce insulin or inability to maintain glucose levels in the body. As per the data published by WHO, in 2018, the number of people suffering with diabetes has significantly risen from 108 million in 1980 to approximately 422 million in 2014. The prevalence of diabetes across the glove has increased from 4.7% to 8.5%. In 2016, around 1.6 million deaths occurred due to diabetes. Diabetes can further lead to several health-related problems such as chronic kidney diseases, cardiovascular diseases, and also death. Diabetes management involves devices and apps in order to manage blood glucose level in the body. Effectively tracking diabetes with the help of these devices helps in treating patients efficiently along with tracking and maintaining the records. 

The digital diabetes management system is helping patients for improving self-management and control the condition. Reduction of blood glucose level and sustaining lower blood glucose is one of the major challenges in managing diabetes. Thus, digital engagement can play a significant role in providing proper care for patients suffering from diabetes 1 and 2.

The major factors driving the growth of the market are increase in adoption of smartphones & tablets coupled with healthcare apps and surge in the diabetic population globally. In contrast to these, the market growth is hampered by lack of awareness regarding digital diabetes management in developing countries and patient data privacy concerns. On the contrary, emerging markets offer significant opportunities for the growth of global digital diabetes management market. 

The global digital diabetes management market is segmented based on type, product and region. Based on type, the market is categorized into Handheld Devices and Wearable Devices. Based on product, the digital diabetes management market divided into Continuous blood glucose monitoring systems, Smart Glucose Meter, Smart Insulin Pumps, Smart Insulin Pens and Apps. Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA. 

Prominent players in the market have adopted various strategies such as partnerships, product approvals and product launching for maintaining their share in the global digital diabetes management thereby addressing the evolving healthcare needs amongst the patients and healthcare providers. Some of the key players of the market include Abbott laboratories, ACON Laboratories, Inc., Bayer AG, Becton, Dickinson and Company, Dexcom, Inc, F. Hoffmann-La Roche Ltd., Johnson and Johnson, Medtronic Plc., Novo Nordisk A/S and Terumo corporation among others.

Segment review

Based on type, the global digital diabetes management market is categorized into handheld devices and wearable devices. The wearable devices segment is anticipated to grow in the forecast period owing to the advantages it offers such as behavioral interventions to people at their place, better accessibility, scalability, and the ability to test anywhere. Based on product, the digital diabetes management market divided into continuous blood glucose monitoring systems, smart glucose meter, smart insulin pumps, smart insulin pens and apps. The Continuous blood glucose monitoring systems segment is likely to grow in coming future owing to the provision in the devices such as real time values of the glucose levels and alerts to the patient in the event of hypo or hyperglycemia.  

Region Segment Review

Based on region, the global digital diabetes management market is further analyzed across North America, Europe, Asia-Pacific and LAMEA. North America holds a dominant share in the global digital diabetes management market due to increasing awareness regarding digital health and large number of patients suffering from chronic illness. Moreover, factors such as well-developed supply-side infrastructure, rapid acceptance of innovative technologies, and adequate reimbursements are further driving the market growth. 

The report provides a comprehensive analysis of the key players operating in the global digital diabetes management market, which include Abbott laboratories, ACON Laboratories, Inc., Bayer AG, Becton, Dickinson and Company, Dexcom, Inc, F. Hoffmann-La Roche Ltd., Johnson and Johnson, Medtronic Plc., Novo Nordisk A/S and Terumo corporation among others.

Key Benefits for Stakeholders:

• This report provides a detailed quantitative analysis of the current global digital diabetes management market trends and estimations from 2019-2026, which assists to identify the prevailing opportunities. 
• An in-depth global digital diabetes management market analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of the factors that drive and restrain the global digital diabetes management market growth is provided.
• Region-wise and country-wise market conditions are comprehensively analyzed in this report.
• The projections in this report are made by analyzing the current trends and future global digital diabetes management market potential from 2019-2026 in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• The key players within the global digital diabetes management market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the global market.

 Digital Diabetes Management Market Report Highlights