The global market for diabetes management software has been expanding alongside the effort of the healthcare industry to induct the best facilities for treatment and care of diabetic patients. It is expected that the demand for diabetes management software would flow in from private clinics as well as hospitals in the forthcoming years. This is because both of these units witness an influx of patients suffering from diabetes on a daily basis. Moreover, the changing lifestyles of the people coupled with propensities to have sweeter foods are also believed to be a key driver of demand within the global diabetes management software market. The government has also been investing heavy amounts towards equipping healthcare centers with all the necessary tools to facilitate better treatment of patients. This is also expected to bring in commendable revenues within the global diabetes management software market over the forthcoming years.
The robust healthcare industry in North America is expected to propel demand for diabetes management software across the region. Furthermore, the favorable reimbursement policies for patients suffering from chronic diseases such as diabetes, high blood pressure, and cardiovascular disorders is also expected to propel demand within the market for diabetes management software in North America.
Diabetes management software includes applications that can help in tracking and monitoring diabetes among patients. This software is of two types, namely, mobile and desktop applications for patients and specifically developed diabetes management software applications for physicians by their respective hospitals so that they can regularly keep a track of sugar level among patients and can revise their reports with the help of various diabetes management software. The way of functioning of this software is unique. This software regularly maintains the data of patients that is pulled from logbook or glucose meters and includes tracking of medications such as insulin pens and pumps along with proper diet. Diabetes management software helps in both type 1 and type 2 diabetes. This software is capable of managing data that is associated with prediction of future blood sugars as well as consumed carbohydrates.
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Diabetes Management Software- Drivers
One of the obvious factors that is boosting the growth of diabetes management software market is growing prevalence of type 1 and type 2 diabetes. Unhealthy lifestyle, improper diet, and increasing stress and tensions are responsible in the growth of diabetes patients. Consequently, the use of diabetes management software has also increased in past few years that is creating positive impact on the diabetes management software market. Technological advancements are another factor that are pushing the growth of diabetes management software market. Several products are available for analysis and maintenance of records of diabetic patients. Many diabetes management software are free. User friendly mobile devices have increased the interest of elderly diabetic patients to use the various mobile applications to monitor diabetes. Growing younger diabetic population is one of the most significant factors behind the unprecedented growth in the usage of diabetes management software. New generation is tech savvy and prefer to use diabetes management software rather than to visit physicians for monitoring blood sugar levels. Moreover, increasing per capita income is also expected to indirectly contribute to the growth of the global market for diabetes management software.
Diabetes Management Software- Restraints
The most important factor that is hindering the growth of the diabetes management software is the pricing associated with the product. Several mobile and desktop diabetes management software have paid apps that are not affordable for every individual. If the medical staff including nurses and doctors are not well trained they cannot analyze accurate results pertaining to sugar glucose levels. There are strong chances that this software can malfunction thus affecting the information and data of patients. Lack of awareness in developing regions about various diabetes management software can be witnessed which has resulted in low adoption of this software.
Diabetes Management Software- Regional Outlook
Developed regions such as North America and Europe are witnessing increased adoption of diabetes management software. Increasing geriatric population, unhealthy diet, and growing awareness among people about advanced technology are some of the reasons behind this growing rate of adoption. While, developing regions such as Middle East and Africa are lagging behind in terms of awareness and are still dependent on medical staff for daily monitoring of sugar levels.
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Diabetes Management Software- Key Vendors
Glooko, OneTouch, Dexcom Clarity are some of the top vendors that have developed diabetes management software with a view to convenience to patients.