Press release
Global Diabetes Management Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2025
On the basis of device type, the wearable devices segment is expected to account for the largest share of the digital diabetes management market in 2018. The large share of the market is mainly due to factors such as the increasing number of regulatory approvals for CGM systems; technological advancements such as closed-loop pump systems, smart insulin patches, and other pipeline devices; and the growing adoption of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management.
The global digital diabetes management market is projected to reach USD 19.9 billion by 2025 from USD 6.8 billion in 2018, at a CAGR of 23.8%.
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Based on type, the digital diabetes management market has been segmented into wearable and handheld devices. Wearable devices held the largest market share and the segment is expected to exhibit the fastest CAGR of 19.6% over the forecast period. The growth of the market is majorly attributed to technological advancements such as the advent of artificial intelligence, growing adoption self-administering insulin delivery devices in diabetes management, and the launch of new products such as closed-loop pump systems and smart insulin patches.
The global digital diabetes management industry in North America is expected to grow at the highest CAGR during the forecast period. This is due to the growing demand for technologically advanced solutions such as closed-loop systems, high adoption of remote online coaching services for diabetes management, high adoption of connected diabetes management devices and apps, favorable reimbursement policies, increased acceptance of digital diabetes solutions from payers, rising awareness on self-diabetes management and government initiatives to promote digital health in the region.
Prominent players in the global digital diabetes management market are Medtronic (Ireland), B. Braun (Germany), Dexcom (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care (Switzerland), LifeScan (US), Tidepool (US), AgaMatrix (US), Glooko Inc. (US), and DarioHealth (Israel).
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