Digital Diabetes Management Market | Emerging Trends 2019
The digital approach to diabetes is already having an impact in a range of areas. Digital diabetes technologies available today include devices for real-time continuous glucose monitoring and automated insulin delivery.
What the Digital Diabetes Management Market look like?
The global digital diabetes management market is projected to reach USD 19.9 billion by 2024 from USD 6.8 billion in 2019, at a CAGR of 23.8%. North America is expected to grow at the highest CAGR during the forecast period.
The wearable devices segment is expected to account for the largest share of the digital diabetes management devices market in 2019
On the basis of device type, the wearable devices segment is expected to account for the largest share of the market in 2019. The large share of the market is mainly due to factors such as the increasing number of regulatory approvals for CGM systems; technological advancements such as closed-loop pump systems, smart insulin patches, and other pipeline devices; and the growing adoption of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management.
The self/home healthcare segment accounted for the largest share of the digital diabetes management market in 2019
Based on end user, the self/home healthcare is expected to account for the largest share of the market in 2019. The large share of this segment can mainly be attributed to technological advancements and a shift toward home care and self-management of diabetes.
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What Driving The Global Market Growth?
The growth of the global market for digital diabetes management is primarily influenced by the following factors:
- Increasing Prevalence of Diabetes
- Technological Advancements
- Growing Adoption of Cloud-Based Enterprise Solutions for Diabetes Management
- Increasing Penetration of Digital Platforms and Adoption of Mobile Apps
Geographical Growth Scenario Of Digital Diabetes Management Market:
The global digital diabetes management industry in North America is expected to grow at the highest CAGR during the forecast period. This is due to the growing demand for technologically advanced solutions such as closed-loop systems, high adoption of remote online coaching services for diabetes management, high adoption of connected diabetes management devices and apps, favorable reimbursement policies, increased acceptance of digital diabetes solutions from payers, rising awareness on self-diabetes management and government initiatives to promote digital health in the region.
Leading Market Players and Strategies Adopted by Them:
Prominent players in the global digital diabetes management market are Medtronic (Ireland), B. Braun (Germany), Dexcom (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care (Switzerland), LifeScan (US), Tidepool (US), AgaMatrix (US), Glooko Inc. (US), and DarioHealth (Israel).
Companies focuses on developing integrated devices that enable data sharing between devices, patients, care providers, and healthcare professionals to help generate actionable insights.
Medtronic is the leading provider of digital diabetes management solutions across the globe. The company offers a portfolio of health information exchange solutions, clinical decision support solutions, and telehealth solutions and services to meet the needs of patients and physicians working in the areas of diabetes management. The company focuses on developing integrated devices that enable data sharing between devices, patients, care providers, and healthcare professionals to help generate actionable insights.
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