Wearable Devices to Favor Adoption and Growth in Global Digital Diabetes Management Market
The global digital diabetes management market was valued at USD 6,960.0 million in 2019 and is expected to grow at a CAGR of 22.9% over the forecast period. Digital diabetes management market is emerging as one of the strongest verticals of healthcare industry, flaunting prominence with an ever-increasing patient pools, ample sensitization amongst patients for better management and improved life expectancy triggering larger geriatric population base. These crucial market specific information pertaining to digital diabetes management market have been extracted from a recent research documented compiled and published by Adroit Market Research.
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Unmanaged diabetes may lead to tremendous risks such as fatality, organ damage, kidney failure and the like. Therefore, owing to its peculiar nature of lifestyle-based occurrence, routine management and stern personal attention are high indispensable to avoid risks.
Digitization has been integral to healthcare improvements and exploring ways for digital management of lifestyle diseases continue to push digitally managed platforms for real time management of the life-threatening disease.
As the condition is more r=common amongst an aging and ailing population, digital modes of diabetes management fetch superlative outcome. Favoring ease of use, leading solution providers in digital diabetes management market are fueling competition with product diversification. Besides conventional hand-held devices, emergence of wearable variants expedite outcome.
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Despite multiple variation such as device based management and app based management, device based digital diabetes management segment is expected to remain more lucrative in the forthcoming years, owing to ease of use. Additionally, technological excellence have favored new device features such as smart insulin pens for seamless administration.
Medtronic’s Smart Insulin Pen Bags FDA Approval, Paves New Avenues
Rising investments in smart insulin pens have resulted in some high value commercial commitments such as the recent launch of Medtronic’s smart insulin pens, InPen. The product has also bagged the much needed FDA approval and has been declared safe for use amongst patients dependent on multiple insulin shots daily. The development is a huge breakthrough and is expected to direct global digital diabetes management market towards novel growth heights.
North America currently holds the largest share in the digital diabetes management market owing to rising awareness on self-diabetes management devices, favorable regulatory scenarios, and the presence of a significant number of major players across the region along with growing investments by the established firms. Furthermore, Asia Pacific is going to record growth at a faster pace on account of the growing patient pool across China and India. Also, the growing healthcare infrastructure, rising disposable income, and growing e-commerce across the region are anticipated to fuel market growth over the forecast period.
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The prominent players operating in global digital diabetes management market includes Abbott, Medtronic, B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd., BD, Dexcom, Inc., Ascensia Diabetes Care Holdings AG, Lifescan, Inc., Glooko, Inc., Tandem Diabetes Care among other prominent players.
Key segments of the global digital diabetes management market
Product & Services Overview, 2015-2025 (USD Million)
- Digital Diabetes Management Apps
- Data Management Software & Platforms
Type Overview, 2015-2025 (USD Million)
- Wearable Devices
- Handheld Devices
End User Overview, 2015-2025 (USD Million)
- Home Care Settings
- Diabetes Clinics
- Academic & Research Institutes
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central and South America
- Rest of Central and South America
- Middle East & Africa
- Rest of Middle East and Africa
Major points from Table of Contents:
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Digital Diabetes Management Market by Product & Services, 2015-2025 (USD Million)
Chapter 5. Global Digital Diabetes Management Market by Type, 2015-2025 (USD Million)
Chapter 6. Global Digital Diabetes Management Market by End User, 2015-2025 (USD Million)
Chapter 7. Global Digital Diabetes Management Market by Region, 2015-2025 (USD Million)
Chapter 8. Company Profiles
Chapter 9. Appendix
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