Press release
Digital Diabetes Management Market Analysis and Forecast to 2033: By Type (Devices, Apps), End User (Hospitals, Homecare), and Region
The Digital Diabetes Management Market is a transformative segment within the healthcare technology and chronic disease management industry, leveraging digital solutions to empower individuals living with diabetes and improve overall diabetes care. Digital diabetes management encompasses a range of technologies, including mobile apps, continuous glucose monitoring (CGM) systems, smart insulin pens, and telehealth platforms. The Digital Diabetes Management Market plays a pivotal role in advancing diabetes care, offering personalized, data-driven solutions for monitoring, managing, and educating individuals with diabetes.
Market Outlook
The global digital diabetes management market was valued at USD 14.8 Billion in 2021 and it is anticipated to grow up to USD 71.9 Billion by 2031, at a CAGR of 17.1% during the forecast period.
The Digital Diabetes Management Market is witnessing rapid growth, driven by the rising prevalence of diabetes, the need for innovative solutions to enhance diabetes self-management, and advancements in digital health technologies. As healthcare systems and individuals alike recognize the value of digital tools in managing chronic conditions, digital diabetes management solutions emerge as key enablers for improving diabetes outcomes and reducing the burden of the disease. The market's outlook reflects the transformative impact of digital technologies on diabetes care, providing new avenues for personalized and proactive management.
One of the key drivers propelling the market is the widespread adoption of Digital Diabetes Management solutions for real-time glucose monitoring, medication adherence, and lifestyle tracking. Mobile apps, connected devices, and telehealth platforms empower individuals with diabetes to better understand and manage their condition, fostering continuous engagement in self-care. Additionally, Digital Diabetes Management technologies enable healthcare providers to remotely monitor patients, offer timely interventions, and optimize treatment plans for better glycemic control. The market's outlook emphasizes the significance of digital solutions in meeting the evolving needs of individuals with diabetes and the healthcare professionals managing their care.
The positive trajectory of the market is further supported by ongoing innovations in Digital Diabetes Management technologies, including the integration of artificial intelligence for predictive analytics, interoperability with electronic health records, and the development of closed-loop systems for automated insulin delivery. Research and development efforts focus on enhancing user experience, ensuring data security and privacy, and expanding the functionality of digital solutions to cover a broader spectrum of diabetes management needs. The evolution of the Digital Diabetes Management Market aligns with the global commitment to leveraging technology for improving health outcomes and addressing the complex challenges posed by chronic diseases.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the global digital diabetes management market based on product, type, end-user, and region.
Global Digital Diabetes Management Market by Product
Based on product, the market is segregated as smart glucose meter, continuous blood glucose monitoring system, smart insulin pens, smart insulin pumps, and apps. The smart insulin pens segment is expected to expand at the fastest rate during the forecast period. The segment's rapid growth is primarily due to the development of artificial intelligence and the rising number of product launches. The market is dominated by a number of players who are concentrating on developing smart insulin pens, boosting their presence, and improving their product offerings. For instance, Novo Nordisk introduced intelligent insulin pens in the UK in March 2022. The first-ever monitoring and recording technology is now available to diabetic patients getting care through the NHS.
Global Digital Diabetes Management Market by Type
Based on the type, the digital diabetes management market is divided into the wearable devices, and handheld devices. Wearable Devices was valued significant market size in 2021 and is anticipated to grow at highest CAGR from 2022-2030. The market's expansion is mostly due to technical improvements such as the introduction of artificial intelligence, the introduction of new products such as closed-loop pump systems and smart insulin patches, and the increasing use of self-insulin delivery devices in diabetes treatment.
Global Digital Diabetes Management Market by End-user
With regards to end-user, the digital diabetes management market is divided into hospitals, home settings, and diagnostic centers. Home settings generated considerable revenue in 2021 and is expected to grow at a highest CAGR over the analysis period. The growing awareness of diabetes treatment, user-friendly interfaces of modern digital devices, ease of use at home, and convenience in exchanging data with specialists via digital platforms will continue to drive product acceptance in the home setting in the future. Furthermore, the emergence of COVID-19 has boosted demand for digital diabetes management products, such as connected devices and mobile applications used at home during the pandemic.
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Major Players
The key players in the digital diabetes management market Abbott Laboratories, Medtronic Plc., F.Hoffmann-La Roche Ltd., Dexcom, Inc., Senseonics, Insulet Corporation, Tandem Diabetes Care, Inc., Ypsomed, Ascensia Diabetes Care Holdings Ag, and Tidepool, among others.
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Research Scope
• Scope - Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics - Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape - Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles - Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2021 - $14.8 Billion
• Market Size in 2031 - $71.9 Billion
• CAGR % - 17.1%
• Historic Period - 2015 - 2020
• Forecast Period - 2022 - 2031
• Base Year - 2021
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With Global Insight Services, you receive:
• 10-year forecast to help you make strategic decisions
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About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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