Digital Diabetes Management Market, valued at US$16.3 billion in 2022, is forecasted to grow at a robust CAGR of 13.6%, reaching US$18.9 billion in 2023 and an impressive US$35.8 billion by 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The demand for better diabetes care solutions has grown of greater significance as diabetes prevalence has increased. Additionally, technological developments have made it possible to introduce highly adaptable solutions to the market. Other significant drivers of market growth include the increasing popularity for the use of connected devices and apps as well as the growing adoption of cloud-based enterprise solutions. However, during the forecast period, growth in this market is expected to be restricted by factors like high device costs, a lack of reimbursement in developing countries, and a higher acceptance of traditional diabetes management devices.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144725893
Digital Diabetes Management Market Dynamics:
Drivers:
- Advent Of Artificial Intelligence In Diabetes Care Devices
Restraints:
- High cost of devices and lack of reimbursement in developing countries
Opportunities:
- Increasing diabetes-related health expenditure
Challenges:
- Low penetration in developing economies
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=144725893
"Continuous Glucose Monitoring (CGM) systems segment to grow at the highest CAGR during the forecast period."
Sub-segments of the products & devices taken into consideration in the digital diabetes management market include devices, digital diabetes management apps, data management software & platforms, and services. The devices segment includes CGM systems, smart insulin pens, smart insulin pumps/closed-loop systems, smart insulin patches, and smart glucose meters. The market for continuous glucose monitoring systems is anticipated to continue to grow at the highest CAGR during the forecast period. This is primarily because these CGM systems are less invasive than conventional blood glucose meters testing.
"Wearable devices segment held the largest share in the Digital Diabetes Management market in 2022."
Based on the device type, the digital diabetes management device market is segmented into handheld and wearable devices. Wearables accounted for the largest market share of all device types in 2022. Some of these devices include CGM systems, smart insulin pumps, and smart insulin patches. Increasing awareness of glucose monitoring, technological advancements like closed-loop pump systems, smart insulin patches, and various upcoming devices are the main factors driving the demand for wearable devices for digital diabetes management. Apart from that, connected devices allow patient for data uploading from home, immediate access to periodic glucose level readings, and dose management and planning.
"The Self/home healthcare segment to grow at the fastest CAGR during the forecast period"
The majority of end users in the digital diabetes management market are academic & research institutions, hospitals & specialty diabetes clinics, and self/home healthcare. The self/home healthcare segment is anticipated to grow at the highest CAGR during the forecast period. Precision, accuracy, minimal invasiveness, and user friendliness have all improved in digital diabetes management systems and platforms for self/home care.
"North America accounted for the largest share of the Digital Diabetes Management market, followed by Europe in 2022"
North America, followed by Europe, held the largest market share in 2022. The market for digital diabetes management in North America was further dominated by the US. This is driven on by a number of factors, such as the rising prevalence of diabetes, technological advancements in digital diabetes management solutions, an increase in the number of smartphone users, and an increasing emphasis on raising the quality of patient care.
Key Market Players:
The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), Ascensia Diabetes Care Holdings AG (Switzerland), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Azumio (US), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=144725893
Recent Developments:
- In February 2023, Dexcom launched Dexcom G7 CGM device in the US and is planning to launch in Europe and Asia Pacific by first quarter of 2024
- In October 2022, Abbott laboratories launched Freestyle Libre 3 CGM device worldwide.
- In April 2022, Dexcom launched Dexcom ONE device. The company launched the new Dexcom ONE Continuous Glucose Monitoring System in the UK.
- In April 2022, Ascensia Diabetes Care Holdings AG (Switzerland) launched Eversense's 6-month CGM system in the US.
- In October 2021, LifeScan, Inc. (US) launched OneTouch Solutions. This is a holistic digital health offering linking people with diabetes to solutions and support from proven experts.
- In September 2020, Roche Diagnostics (Switzerland) launched a remote patient monitoring ssolution, which is a new element of the RocheDiabetes Care Platform and uses its pattern detection feature.
