Digital Diabetes Management Market Forecast to 2030
The global digital diabetes management market size reached USD 13.6 Billion in 2021 and is expected to register a revenue CAGR of 12.0% during the forecast period, according to the latest analysis by Emergen Research. Increasing prevalence of diabetes and obesity across the globe, rising demand for medical devices, management apps such glucose tracking apps and wearables as well as advent of technologically innovative cloud-based digital tools and solutions are some of the key factors driving revenue growth of the digital diabetes management market.
Digital health management is playing a bigger role in the treatment of diabetics at all disease stages and has the potential to make the challenging task of managing diabetes on one’s own easier. Digital diabetes management Solutions include clinical programmes, services, and integrated technology to address people’s requirements along the continuum of care. These choices facilitate participant engagement, encourage more commitment, and steer people towards better results. The development of smartphone applications that enable users to track their diet, physical activity, sleep cycle, and other data at their fingertips has had a huge impact on digital diabetes management.
There are digital tools for treating diabetes that can help with monitoring blood sugar, keeping track of food and lifestyle information, enhancing medical outcomes, and maintaining healthy blood sugar levels. It gathers pertinent information from diabetes care devices, including glucose monitoring software, insulin data, health and fitness trackers, and other systems, to generate a full picture. Additionally, it offers counsel as well as personalised glucose projections. As a result, there is an increase in demand for digital tools for measuring and monitoring blood glucose levels, which in turn is boosting interest in digital diabetes management and the market’s revenue growth.
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The global Digital Diabetes Management market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Digital Diabetes Management industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Medtronic plc, Abbott Laboratories, Novo Nordisk A/S, DexCom, Inc, Bayer AG, Eli Lilly and Company, LifeScan IP Holdings, LLC., F Hoffman-La Roche Ltd., Tandem Diabetes Care, Inc., Insulet Corporation
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Some Key Highlights From the Report
- The home care settings segment accounted for largest revenue share in 2021. There are numerous emerging technologies that can be used to improve, support, and inform decisions about how to manage residents diabetes care; this can help with issues such as access to specialized support or clear standards of care for diabetes management in nursing homes. The use of technology such as mHealth apps, wearables, and continuous blood glucose tracking apps makes it possible to begin early intervention, facilitates effective responsive care, and most importantly, connects the community of care homes to multidisciplinary clinical teams for support and communication. Such diabetes technologies have been shown to enhance health outcomes. As a result, these digital management options present chances to enhance patient empowerment and self-care. These are major factors driving revenue growth of the segment.
- The application (Apps) segment is expected to grow at a steady CAGR during the forecast period. Diabetes self-management tasks, such as blood glucose monitoring, medication or insulin administration, accessing diabetes or general health information, and tracking nutritional intake or physical activity are the main uses for diabetes applications. Potential app functions include monitoring blood sugar levels or insulin use, calculating insulin dosages, keeping track of nutrition, body weight, and physical activities, as well as disseminating knowledge or information. Various top market companies are introducing continuous blood glucose tracking and management applications and services, which is driving revenue growth of the market. It is expected that daily blood sugar checks and follow-ups for diabetes patients will enhance the use of fitness applications.
- Europe accounted for significant revenue share in 2021 Some of the major factors driving the growth of the digital diabetes management market in the region include rapid technological advancement of mechanical commercial digital diabetes management, increased funding and favorable regulations offered by the government for the production of wearable technology, attractive medical reimbursement policies introduced by the government as well as presence of a well-established healthcare infrastructure. These factors dramatically improved revenue growth of the market in the region.
The report bifurcates the Digital Diabetes Management market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Smart Glucose Control Meter
- Continuous Blood Glucose Monitoring System
- Insulin Pens/Pumps
- Blood Glucose Tracking Apps
- Weight & Diet Management Apps
- Software & Services
- Device Type Outlook (Revenue, USD Billion; 2019-2030)
- Handheld Devices
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals & Clinics
- Home Care Settings
- Diagnostic Centers
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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