Press release
Artificial Intelligence in Diabetes Management Market – Global Industry Analysis, Size, Share, Trends and Forecast 2018 – 2024
Artificial Intelligence in Diabetes Management Market
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Artificial Intelligence in Diabetes Management Market: Market Insight
An estimated number of 425 million people in the world have diabetes, which costs about 12% of the world's health expenditures, and yet 1 in 2 persons remain undiagnosed and untreated. Different applications of artificial intelligence (AI) and cognitive computing offer promise in diabetes care. Artificial intelligence methods in combination with the latest technologies, such as medical devices, mobile computing, and sensor technologies, have great potential to provide better services to deal with chronic diseases. One of the most lethal and prevalent chronic diseases is diabetes mellitus, in which glucose homeostasis is dysfunctional. Artificial intelligence, in healthcare, uses algorithms and software to approximate human cognition in the analysis of complex medical data. Artificial intelligence is being used for a wide range of healthcare and research applications, including detection of disease, management of chronic conditions, delivery of health services, and drug discovery.
Artificial Intelligence in Diabetes Management Market: Drivers and Restraints
A large number of diabetic population in the world is the prime factor for the growth of artificial intelligence diabetes management market globally. Besides, high penetration of internet and well-developed internet infrastructure in developed countries, increasing government expenditure on healthcare and new programs initiated by the government regarding awareness about chronic diseases is set to push the global artificial intelligence diabetes management market. Additionally, the patient-centric approach of healthcare and the prevailing use of smart monitoring devices to track health record of the patient are the significant factors, which propel the market. While the cost of the devices remains the major restraint for the global artificial intelligence diabetes management market.
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Artificial Intelligence in Diabetes Management Market: Segmentation
The global artificial intelligence diabetes management market is segmented on the basis of devices. The sub-markets include insulin delivery devices, diagnostic devices, and glucose monitoring devices. Glucose monitoring is the dominating devices segment in artificial intelligence diabetes management market worldwide and it is set to have considerable growth in the future.
Artificial Intelligence in Diabetes Management Market: Regional Insight
On the basis is geography the global artificial intelligence diabetes management market is divided into four regions, North America, Europe, Asia-Pacific, and RoW. North America is the dominating region in the global artificial intelligence diabetes management market owing to the better internet infrastructure, development of latest and advanced technologies and growing government spending on healthcare in this region. The market in the Asia Pacific region is anticipated to grow with high rate. Emerging economies like China, India and South Korea are investing more on healthcare infrastructure, which will contribute to the growth of the market in the Asia Pacific region. Additionally, huge patient pool suffering from diabetes in this region will add to the demand for artificial intelligence diabetes management
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Artificial Intelligence in Diabetes Management Market: Competitive Analysis
Apple Inc., Google Inc, Vodafone Group Plc, Diabnext, IBM Corporation, Tidepool, and Glooko Inc. are some of the major players in the global artificial intelligence diabetes management market.
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