Digital Diabetes Management Market worth $35.8 billion in 2028 | Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US)

The report "Digital Diabetes Management Market by Product (Device (CGM, Smart Glucometer, Insulin Patch Pump), Diabetes Apps, Service, Software & Platforms), Device Type (Handheld & Wearables), End User (Hospitals & Self/Home Healthcare) - Global Forecast to 2028", is expected to grow at a CAGR of 13.6% from an estimated USD 18.9 billion in 2023 to USD 35.8 billion in 2028. As diabetes prevalence has increased, there is an increasing demand for more efficient diabetes care solutions. Furthermore, technological advancements have made it possible for the market to acquire flexible solutions. The growing number of connected devices and apps, along with the widespread use of cloud-based enterprise solutions, is one of the main factors driving market growth.

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"Continuous Glucose Monitoring (CGM) systems segment to grow at the highest CAGR during the forecast period."

Sub-segments of the products & devices taken into consideration in the digital diabetes management market include devices, digital diabetes management apps, data management software & platforms, and services. The devices segment includes CGM systems, smart insulin pens, smart insulin pumps/closed-loop systems, smart insulin patches, and smart glucose meters. The market for continuous glucose monitoring systems is anticipated to continue to grow at the highest CAGR during the forecast period. This is primarily because these CGM systems are less invasive than conventional blood glucose meters testing.

"Wearable devices segment held the largest share in the Digital Diabetes Management market in 2022."

Based on the device type, the digital diabetes management device market is segmented into handheld and wearable devices. Wearables accounted for the largest market share of all device types in 2022. Some of these devices include CGM systems, smart insulin pumps, and smart insulin patches. Increasing awareness of glucose monitoring, technological advancements like closed-loop pump systems, smart insulin patches, and various upcoming devices are the main factors driving the demand for wearable devices for digital diabetes management. Apart from that, connected devices allow patient for data uploading from home, immediate access to periodic glucose level readings, and dose management and planning.

"The Self/home healthcare segment to grow at the fastest CAGR during the forecast period"

The majority of end users in the digital diabetes management market are academic & research institutions, hospitals & specialty diabetes clinics, and self/home healthcare. The self/home healthcare segment is anticipated to grow at the highest CAGR during the forecast period. Precision, accuracy, minimal invasiveness, and user friendliness have all improved in digital diabetes management systems and platforms for self/home care.

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"North America accounted for the largest share of the Digital Diabetes Management market, followed by Europe in 2022"

North America, followed by Europe, held the largest market share in 2022. The market for digital diabetes management in North America was further dominated by the US. This is driven on by a number of factors, such as the rising prevalence of diabetes, technological advancements in digital diabetes management solutions, an increase in the number of smartphone users, and an increasing emphasis on raising the quality of patient care.

The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), Ascensia Diabetes Care Holdings AG (Switzerland), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Azumio (US), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).

Recent Developments:

In February 2023, Dexcom launched Dexcom G7 CGM device in the US and is planning to launch in Europe and Asia Pacific by first quarter of 2024

In October 2022, Abbott laboratories launched Freestyle Libre 3 CGM device worldwide.

In April 2022, Dexcom launched Dexcom ONE device. The company launched the new Dexcom ONE Continuous Glucose Monitoring System in the UK.

In April 2022, Ascensia Diabetes Care Holdings AG (Switzerland) launched Eversense's 6-month CGM system in the US.

In October 2021, LifeScan, Inc. (US) launched OneTouch Solutions. This is a holistic digital health offering linking people with diabetes to solutions and support from proven experts.

In September 2020, Roche Diagnostics (Switzerland) launched a remote patient monitoring ssolution, which is a new element of the RocheDiabetes Care Platform and uses its pattern detection feature.

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