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Digital Diabetes Management Market to surpass USD 22.47 billion by 2030 owing to artificial intelligence is on the verge of becoming a diabetes care device.

01-31-2024 01:25 PM CET | Health & Medicine

Press release from: SNS Insider Pvt Ltd

Digital Diabetes Management Market

Digital Diabetes Management Market

Based on SNS Insider's research, by launching advanced digital platforms, many startups are entering the market. Furthermore, there is a positive impact on the market due to availability of telemedicine platforms and government initiatives aimed at encouraging adoption of Digital Health.

Market Size-

The SNS Insider report indicates that the Digital Diabetes Management Market was valued at USD 12.053 billion in 2022, and is expected to reach market size of USD 22.47 billion by 2030, with a compound annual growth rate (CAGR) of 8.1% expected over the forecast period from 2023 to 2030.

Market Report Scope -

The digital diabetes management sector is expected to make significant progress in the near future. Individuals will be able to have customized, real time insights on their health through the integration of modern technologies such as wearable devices, continuous glucose monitoring systems and algorithms based on artificial intelligence. Remote monitoring and telemedicine will continue to be widespread, allowing easy access for healthcare professionals as well as facilitating proactive action. In order to ensure a complete and safe management of patients' information, the industry will focus its efforts on efficient data integration.

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Key Players
-Abbott Laboratories,
-Medtronic plc,
-F. Hoffmann-La Roche Ltd.,
-Bayer AG, Lifescan, Inc,
-Dexcom, Inc,
-Sanofi,
-Insulet Corporation,
-Ascensia Diabetes Care Holdings Ag,
-B Braun Melsungen AG
-and others.

Market Opportunities-

Integration of data analytics and artificial intelligence
The field of Digital Diabetes Management is being transformed by large data Analytics and Artificial Intelligence. The market is forecast to increase exponentially as a result of the new effective digital diabetes management technologies, which will make it easier for diabetics to control their condition. Healthcare professionals and patients will be able to access realtime structured, unstructured large data as a result of the increasing use and growth in Big Data Analytics. In addition, the provision of customised hypoglycaemia control solutions to patients will be facilitated by Al powered digital diabetes management devices. This device has been designed to provide the patient with personalised information on his or her glucose response.

Segmentation Analysis -

By Product
-Smart Glucose Meter
-Continuous Blood Glucose Monitoring System
-Smart Insulin Pens
-Smart Insulin Pumps
-Apps
-Digital Diabetes Management Apps
-Weight & Diet Management Apps

By Type
-Wearable Devices
-Handheld Devices

By End Use
-Hospitals
-Home settings
-Diagnostic Centers

The market is divided into smart insulin pens, continuous glucose monitoring systems, smart glucose meters, smart insulin pumps and apps on the basis of products. A digital diabetes management app and a weight & diet apps are included. The continuous blood glucose monitoring system segment held the largest revenue share of over 40.6% in 2022, owing to its advanced features such as compatibility with smart devices that serve as display devices. In addition, if certain glucose threshold values are exceeded it may be set to send a custom alert to patients.

The digital diabetes management market is divided into hospitals, home settings and diagnostic centres on the basis of end use. As well as providing patients with diabetes education, self management tools and support, hospitals may use digital platforms or mobile apps. Patients can be better informed about their condition, monitor blood sugar levels, take control of their medication and get advice from healthcare professionals thanks to these technologies.

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Key Regional Development -

North America led the market in 2022 with a revenue share of over 38.0%, aided by the availability of advanced technologies and the recent approval of many digital blood glucose patient monitoring devices in the region. For example, Insulet Corporation announced that its Omnipod 5 automated insulin delivery system had been approved by the United States Food and Drug Administration in January 2022. It's a unique system that works together with Dexcom G6 Continuous Glucose Monitoring, CGM. With its integrated SmartBolus Calculator, it facilitates remote patient monitoring and data transfer through Omnipod 5 mobile app. Regional market growth is expected to be supported by an ageing population and the increased burden of diabetes as a result of lifestyle changes.

A large number of people with diabetes and growing government initiatives in the region, Asia Pacific is projected to grow at an accelerated compound annual growth rate of 9.8% due to new product launches, over the forecast period. For instance, in January 2022, the Australian Centre for Accelerating Diabetes Innovations (ACADI) at the University of Melbourne announced that the federal government would grant the center USD 10 million over a 4-year period.

Key Takeaway from Digital Diabetes Management Market Study-

Improved Monitoring: Realtime and constant monitoring of blood glucose levels is provided by digital diabetic management solutions, e.g. the wearable devices or Continuous Glucose Monitoring System. This allows individuals to more accurately monitor their levels, so that they can make appropriate adjustments to their treatment plans and thus improve their blood sugar control.

Enhanced Self-Management: Individuals with diabetes are empowered through digital tools to be actively involved in the management of their disease. Individuals can easily monitor their food intake, activity levels, medication adherence and general well-being by means of an app or a web platform. Better control of diabetes and improved health outcomes can be achieved by this increased engagement and self-management.

Recent Development Related to Digital Diabetes Management Market -

In August 2022, Abbott Laboratories launched new Digital tools to raise awareness of the importance of losing weight and controlling blood sugar in diabetes patients, as part of its collaboration with Weight Watchers. As part of this strategic partnership, Abbott has incorporated its latest digital glucose monitoring technology in the WeightWatchers diabetes management program.

Ypsomed AG entered into a partnership with Dexcom, the world's largest manufacturer of continuous glucose monitoring systems, in September 2021. The aim of this partnership was to make the Dexcom G6 CGM data available in the Ypsomed application on a smart device.

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Table of Contents

1.Introduction

2.Research Methodology

3.Market Dynamics

4.Impact Analysis

4.1COVID-19 Impact Analysis

4.2.Impact of Ukraine- Russia war

4.3.Impact of Ongoing Recession on Major Economies

5.Value Chain Analysis

6.Porter's 5 Forces Model

7.PEST Analysis

8.Digital Diabetes Management Market Segmentation, By Product

9.Digital Diabetes Management Market Segmentation, By Type

10.Digital Diabetes Management Market, By End Use

11. Regional Analysis

12. Company profile

13.Competitive Landscape

14.Use Case and Best Practices

15.Conclusion

continued

Access Complete Report Details with Toc and Graphs@ https://www.snsinsider.com/reports/digital-diabetes-management-market-3440

Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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