Press release
Digital Diabetes Management Market Report on the Untapped Growth Opportunities in the Industry
"Digital Diabetes Management Market" in terms of revenue was estimated to be worth $18.11 billion in 2023 and is poised to reach $49.48 billion by 2031, growing at a CAGR of 13.58% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Recent Developments:
• Tandem Diabetes Care, Inc. announced in January 2024 that their t: slim X2 insulin pump, which features Control-IQ technology, is the first AID system to communicate with Abbott's most recent continuous glucose monitoring (CGM) device, the Freestyle Libre 2 Plus.
• The esteemed organization recognized Ascensia Diabetes Care Poland as a Great Place to Work in November 2023.
• Ascensia Diabetes Care is a global leader in diabetes care, renowned for its exclusive distribution of Eversense Continuous Glucose Monitoring (CGM) Systems and its CONTOUR Blood Glucose Monitoring (BGM) System portfolio. Insulet recently made headlines in October 2023 when it announced that the FDA had approved its Omnipod 5 App for iPhone under the 510(k) program.
• This makes Insulet the sole company in the world to provide a tubeless automated insulin delivery (AID) system that can be entirely controlled from an Android or iOS smartphone.
Latest Drivers Restraint and Opportunities Market Snapshot:
Future expansion opportunities for the digital diabetes management market include:
• Increasingly popular usage of interconnected gadgets
• Increase in the prevalence of diabetes
Key factors influencing the digital diabetes management market are:
• Technological advancements
• Combining therapeutic and monitoring capabilities
• Artificial intelligence and data analytics integration
The following are the primary obstacles to the digital diabetes management market 's expansion:
• High cost
• Lack of awareness
• privacy issues about data
• Growing population
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Market Analysis:
Insulin pens, sensors, intelligent glucose meters, closed-loop systems, insulin patches, and various software-based applications and platforms are all part of digital diabetes management. Utilizing intelligent insulin devices offers numerous benefits in diabetes management. Technological advancements have provided the market with immensely versatile solutions.The proliferation of health-tracking applications on smartphones and the Internet is another factor driving the market's growth.
List of Prominent Players in the Digital Diabetes Management Market:
• Glooko, Inc
• DarioHealth Corporation
• One Drop
• Dottli
• Ypsomed Holding AG
• ARKRAY
• ACON Laboratories, Inc
• Medtronic
• B. Braun Melsungen AG
• Dexcom, Inc
• Abbott Laboratories
• F. Hoffmann-La Roche
• Insulet Corporation
• Tandem Diabetes Care
• Ascensia Diabetes Care Holdings AG
• LifeScan, Inc
• Tidepool
• AgaMatrix
• Care Innovations, LLC
• Health2Sync
• Emperra GmbH E-Health Technologies
• Azumio
• Decide Clinical Software GmbH
• Pendiq GmbH
• BeatO
Digital Diabetes Management Market Dynamics:
Market Drivers: Technological Advancement
The global digital diabetes management industry is anticipated to be propelled by advancements in smart insulin devices. The iSenz adapter is employed by smart insulin devices to detect insulin levels. It offers injection angles to optimize injection sites for individuals with diabetes. Easylog is an adaptor that can be utilized with insulin devices that are connected to the internet. The market is expanding as an increasing number of individuals monitor their health using their mobile phones and the internet.
Challenges: High Cost
The market's expansion will be impeded by the high cost of digital diabetes management systems and their inadequate adoption in developing and emergent nations.
Not all individuals have the financial means to utilize one of the numerous diabetes management programs that are accessible on desktop and mobile platforms. In order to accurately interpret blood sugar levels, it is necessary for physicians, nurses, and other medical personnel to receive appropriate training.
Business expansion in less developed nations is also hindered by concerns regarding patient data protection and the general public's ignorance of digital diabetes care.
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North America is Expected to Grow with the Highest CAGR During the Forecast Period
It is anticipated that the digital diabetes management market will experience a substantial revenue share and a rapid compound annual growth rate in the near future. This is due to the increasing prevalence of long-term health conditions and the increasing interest in digital health. Furthermore, the market is being driven by a strong supply-side infrastructure, the rapid adoption of new technologies, and adequate reimbursements.
Segmentation of Digital Diabetes Management Market-
By Device Type
• Handheld Devices
• Wearable Devices
By Product & Service
• Devices
• Smart Glucose Meters
• Continuous Glucose Monitoring (CGM) Systems
• Smart Insulin Pens
• Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches
• Application
• Diabetes & Blood Glucose Tracking Apps
• Obesity & Diet Management Apps
• Data Management Software & Platforms
• Services
By End User
• Self/Home Healthcare
• Hospitals & Specialty Diabetes Clinics
• Academic & Research Institutes
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Why should buy this report:
• To obtain a thorough examination of the global Digital Diabetes Management Market's prospective
• To obtain an industry overview and future trends in the global Digital Diabetes Management Market
• To conduct an analysis of the drivers and challenges of the digital diabetes management market
• To obtain information regarding the Digital Diabetes Management Market's magnitude and value (in US dollars) through 2031
• Major Investments, Mergers, and Acquisitions in the Global Digital Diabetes Management Market
Details insights on this market: https://www.insightaceanalytic.com/report/global-digital-diabetes-management-market/1487
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