The Global Digital Diabetes Management Market is accounted for USD 4,464.8 million in 2017 and expected to register ~ 23.7 % CAGR during the forecast period (2018–2023).
The digital diabetes management provide a platform that simplify the tracking of diabetes data. It helps Type 1 and Type 2 diabetes patients to manage blood test results from a glucose meter, records of actual insulin delivery, statistical evaluation.
The increasing prevalence of diabetes, technological advancements, rising demand for selfcare, and involvement of major players in product launch, collaboration, and strategic merger & acquisitions are the major factors driving the growth of the global digital diabetes management market. Additionally, increasing research and development spending by the top players are fueling the growth of the market during forecast period. For instance, in 2017,
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Some of the key players in the global digital diabetes management market are Abbott Laboratories, Agamatrix, Inc., Ascensia Diabetes Care Holdings Ag., B. Braun Melsungen AG, Dariohealth Corporation, Dexcom, Inc., F. Hoffmann-La Roche, Glooko, Inc., Insulet Corporation, Lifescan, Inc., Medtronic PLC, Tandem Diabetes Care, Inc., Tidepool, and others.
Medtronic introduce MiniMed 670G first hybrid closed loop system for type 1 diabetes patients. Also, in 2018, Roche Diagnostics and Wellthy Therapeutics Private Limited (India) signed a partnership for offering an artificial intelligence-based digital diabetes coaching solution for users of the Accu-Chek Active system.
However, the high cost associated with homecare devices and lack of awareness may hamper the growth of the market during the assessment period.
The global digital diabetes management market has been segmented on the basis of type, product and services, end user, and region.
On the basis of type, the market has been classified as wearable devices and handheld devices. Based on product and service market has been classified into devices, data management software and platforms, digital diabetes management apps, and services. The devices have been sub- segmented into smart glucose meters, smart insulin pens, continuous glucose monitoring systems, smart insulin pumps/closed loop systems & smart insulin patches. However, the digital diabetes management apps have been further classified into weight & diet management apps and diabetes & blood glucose tracking apps.
The market by end user, has been segmented into homecare, hospitals & specialty diabetes clinics, academic & research institutes, and others. By type, the wearable devices segment is likely to hold the major market share of the digital diabetes management market during the forecast period owing to technical advancement. Also, homecare segment, by end user holds the major market share in the global digital diabetes management market during the forecast period.
The market is likely to dominate by Americas during the forecast period owing to the advancement in technology, and favorable reimbursement policies. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, coupled with increasing research and development. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to increasing investments in healthcare, rising number of the diabetes patient, expansions strategy by market players in the region, and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global digital diabetes management market.
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