Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Digital Diabetes Management Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”, forecasts that the market for Digital Diabetes Management Market is expected to grow at a CAGR of around 22.4 % from 2020 to 2027 and reach the market value of over US$ 21.3 Billion by 2027.
Diabetes management refers to controlling the increase and decrease in the blood sugar level. An increase in the number of diabetes cases at an alarming rate has motivated medical tech organizations into developing the wearable device business.
Acumen Research and Consulting has done a detailed study of the market and bifurcated the market on type as wearable devices and handheld devices. By app, the market is classified as digital diabetes management apps and weight & diet management apps. Further, by product, the market is segmented as smart glucose meter, continuous blood glucose monitoring system, smart insulin pens, smart insulin pumps, and others.
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For instance, The Freestyle Libre by Abbott is a 14-day framework that persistently screens glucose levels. The framework comprises a handheld reader and a sensor worn on the back of the upper arm that is embedded simply under the skin.
Omnipod’s DASH System work by constantly conveying insulin at set and variable rates for the day to copy the insulin release of a solid pancreas
Eversense wearable requires a trained medical care provider needs to numb the region and spot a sensor in your upper arm and you’re all set for as long as a quarter of a year. The framework, which additionally comprises a savvy transmitter and a portable application, gives continuous glucose observing at regular intervals.
The MiniMed 670G framework offers innovation that copies some of the elements of a sound pancreas by giving two degrees of mechanized insulin conveyance. The full retail cost is around $8,000.
The K’Track Glucose from PKvitality puts ongoing glucose levels on your wrist. The gadget, which resembles a smartwatch, has discreet alarms to help prevent hyper and hypoglycemic scenes. K’Track Glucose can likewise follow steps taken, distance traveled and calories burned.
North America dominates the digital diabetes management market in the past and will continue its trend till the forthcoming years.
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On the other hand, Asia Pacific will gain significant pace in the coming years owing to numerous product launches by the prominent players owing to rising diabetic patients in APAC region. Apart from that, a strategic collaboration between the key players further enhances the regional growth for the digital diabetes management market globally.
Europe is projected to capture a considerable share over the forecast period due to its novel product launching and presence of prominent players residing in Europe region. This acts as one of the key factors that contribute fullest to the growth of the digital diabetes management market in Europe regional market.
- Rising prevalence of diabetes
- Rapidly changing lifestyles and unhealthy dietary habits contribute to the growth of the digital diabetes management market
- Big calls for “Digitization”
- Segmental Outlooks: wearable devices and handheld devices
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Key companies profiled in this report involve Medtronic, B. Braun, Dexcom, Abbott Laboratories, Roche Diagnostics, Insulet Corporation, Tandem Diabetes Care, Ascensia Diabetes Care, LifeScan, Tidepool, AgaMatrix, Glooko Inc., DarioHealth, and among others.
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