The
Digital Diabetes Management Market Outlook And Analysis by Type (Wearable Devices,
Handheld Devices), Product & Services (Devices, Digital Diabetes Management
Apps, Services), End User (Homecare, Academic & Research Institutes)-
Forecast till 2030
According
to Market Research Future (MRFR), the global Digital Diabetes Management Market held a valuation of USD 4,464.8 million in
2017 and expected to register 20.8% CAGR during the forecast period.
Digital
diabetes management helps patients with diabetes personalize and monitor
diabetes using advanced digital technology paradigms through smart glucose
meter and blood glucose tracking apps.
Market
Dynamics
Factors
such as growing diabetes prevalence, increasing demand for self-care, technical
advancements, rising geriatric population, and government initiatives are
expected to boost the market growth. In addition, rising R&D spending and
aggressive strategies adopted by leading players, such as new product launches,
are contributing to market growth.
However,
high costs associated with home care facilities and lack of awareness may
hinder the growth of the market during the assessment period.
Market
Segmentation
The
global digital diabetes management market share has been segmented based on type, product
and services, and end-user.
Based
on type, the global market for digital diabetes management has been classified
as wearable devices and handheld devices. The wearable devices segment is
estimated to hold the largest market share of the Digital Diabetes Management
Market share during the forecast period due to regulatory approval of CGM
system and technological advancement such as smart insulin patches
Based
on product and service, the global market for digital diabetes management has
been segmented into devices, data management software and platforms, digital
diabetes management apps, and services. The devices segment has been further
divided 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-users, the global market for digital diabetes management has been
segmented into hospitals & specialty diabetes clinics, home care, academic
& research institutes, and others. The home care segment accounts for the
largest market share in the global Digital Diabetes Management Market share
during the forecast period.
Regional
Analysis
Region-wise,
the global market for digital diabetes management has been segmented into the
Americas, Europe, Asia Pacific, and the Middle East & Africa.
The
Americas are likely to dominate the global market for digital diabetes
management due to the broad acceptance of technologically advanced solutions
such as closed-loop control systems, increasing adoption of diabetes management
remote online coaching services, and connected diabetes management apps. In
addition, favorable reimbursement policies, raising awareness, government
initiatives to promote digital health, and aggressive strategies adopted by players
such as product launch, mergers & acquisitions and alliances in the region
also accelerate the growth of the digital diabetes management industry.
European
market is projected to be second-largest market for digital diabetes
management. Market growth in this region can be ascribed to government support
for research and development and the availability of research funding.
The
Asia Pacific is projected to be the fastest-growing Digital Diabetes Management
Market share in the forecast period. This is due to the growing number of
diabetes patients, investment in healthcare, and the expansion of market
players in the region. Additionally, countries such as India and China are the
fastest-growing region due to the presence of a large patient population. In
addition, the Government of these countries are adopting new technologies and
the best treatment options by the developed countries. As states in the
research paper published by the National Center for Biotechnology Information
(NCBI) in September 2016, diabetes will be the seventh leading cause of death
by 2030.
The
Middle East & Africa is projected to account for the lowest share of the
global market for digital diabetes management due to underdeveloped healthcare,
lack of technical knowledge, and inadequate medical facilities.
Key
Players
Some
of the leading participants in the global digital diabetes management market
are Agamatrix, Inc., Ascensia Diabetes Care Holdings Ag., Abbott Laboratories,
Dexcom, Inc., B. Braun Melsungen AG, Dariohealth Corporation, Glooko, Inc.,
Insulet Corporation, Lifescan, Inc., Medtronic PLC, F. Hoffmann-La Roche,
Tandem Diabetes Care, Inc., Tidepool, and others.
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