Press release
Digital Diabetes Management Market Top Companies Study - Medteronic (Ireland), B.Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland).
Digital Diabetes Management Market
"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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Latest Drivers Restraint and Opportunities Market Snapshot:
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
Future expansion opportunities for the digital diabetes management market include:
• Increasingly popular usage of interconnected gadgets
• Increase in the prevalence of diabetes
• Growing population
Market Analysis:
Digital diabetes management includes a range of advanced tools such as insulin pens, sensors, smart glucose meters, closed-loop systems, insulin patches, and software-based applications and platforms. Smart insulin pens offer several benefits in managing diabetes, including enhanced accuracy and improved patient adherence. Technological advancements have introduced highly versatile solutions to the market, contributing to increased adoption. Additionally, the growing use of smartphones and internet-based health-tracking applications is further driving the expansion of the digital diabetes management market.
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List of Prominent Players in the Digital Diabetes Management Market:
• 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
• Glooko, Inc
• DarioHealth Corporation
• One Drop
• Dottli
• Ypsomed Holding AG
• ARKRAY
• ACON Laboratories, Inc
• Care Innovations, LLC
• Health2Sync
• Emperra GmbH E-Health Technologies
• Azumio
• Decide Clinical Software GmbH
• Pendiq GmbH
• BeatO
Recent Developments:
• In January 2024, Tandem Diabetes Care, Inc. announced that their t: slim X2 insulin pump with Control-IQ technology is the first AID system to connect with Abbott's latest continuous glucose monitoring (CGM) device, the FreeStyle Libre 2 Plus.
• In November 2023, Ascensia Diabetes Care Poland was recognized as a Great Place to Work by the esteemed organization. Ascensia Diabetes Care is a worldwide leader in diabetes care, known for its CONTOUR Blood Glucose Monitoring (BGM) System portfolio and its exclusive distribution of Eversense Continuous Glucose Monitoring (CGM) Systems.
• In October 2023, Insulet recently made headlines when it announced that the FDA had cleared its Omnipod 5 App for iPhone under the 510(k) program. This makes Insulet the only company in the world to offer a tubeless automated insulin delivery (AID) system that can be fully controlled from an Android or iOS smartphone.
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Digital Diabetes Management Market Dynamics:
Market Drivers: Technological Advancements
Innovations in smart insulin pens are anticipated to drive growth in the global digital diabetes management market. Smart insulin pens, equipped with the iSenz adapter, can monitor insulin levels and provide optimized injection angles to improve accuracy and comfort for diabetes patients. Additionally, the Easylog adapter allows insulin pens to connect to the internet, enhancing real-time monitoring and data sharing. The increasing use of smartphones and internet-based health-tracking applications is further contributing to market expansion, as more individuals actively monitor their health through digital platforms.
Challenges: High Costs
The high cost of digital diabetes management systems and limited adoption in developing and emerging markets are expected to restrain market growth. Many individuals cannot afford the various diabetes management programs available on mobile and desktop platforms. Moreover, healthcare professionals, including doctors and nurses, require proper training to accurately interpret blood glucose data, which presents an additional challenge. Concerns regarding patient data privacy and a general lack of awareness about digital diabetes management solutions are also limiting market growth, particularly in less-developed regions.
Regional Trends:
North America is projected to hold a significant market share and experience the highest compound annual growth rate (CAGR) during the forecast period. This growth is driven by increasing interest in digital health solutions and a rising prevalence of chronic health conditions. Additionally, factors such as a well-established supply chain, rapid adoption of new technologies, and favorable reimbursement policies are further supporting market expansion in the region.
Segmentation of Digital Diabetes Management Market-
By Product & Service
• Devices
o Smart Glucose Meters
o Continuous Glucose Monitoring (CGM) Systems
o Smart Insulin Pens
o Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches
• Application
o Diabetes & Blood Glucose Tracking Apps
o Obesity & Diet Management Apps
• Data Management Software & Platforms
• Services
By Device Type
• Handheld Devices
• Wearable Devices
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
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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