Digital Diabetes Management Market Size , Global Dynamics and Forecast to 2023
Further, the diabetes has attracted attention of researchers and key players owing to its prevalence among common people. For instance, as per a paper published by the National Center for Biotechnology Information (NCBI) in 2016 suggested that diabetes was 7th leading cause of deaths globally in the same year. Additionally, a data from World Health Organization (WHO) suggested that its prevalence is increased substantially from developing countries. Considering the aforementioned factors, the governments of the both developed and developing countries are opening doors and adopting new technologies for offering the best treatment option.
The global Digital Diabetes Management Market Size predicted to witness striking CAGR of 23.7% during the forecast period from 2018 to 2023. This growth in the coming years is predicted on the back of increasing inclination toward the advanced health management systems coupled with large pool of diabetic people. In addition to this, the factors such as increasing demand for self-care, rising geriatric population, favorable reimbursement policies, and government initiative for raising awareness are driving growth of the global digital diabetes management market.
The growing demand for home care among diabetics is likely to be the major driver for the global digital diabetes management market over the forecast period. Diabetes is a disease that doesn’t require a hospital stay for monitoring, especially with the availability of modern tracking devices. This has led to a growing demand for home care, as diabetes can be easily tracked and managed by the patient or relatives of the patient from the confines of their household. The growing prevalence of diabetes among the geriatric demographic has also been a key driver for the global digital diabetes management market, as geriatric individuals often prefer home care over hospital visits, which may be taxing for their frail physique. This is likely to be a major driver for the global digital diabetes management market over the forecast period.
- Ascensia Diabetes Care Holdings Ag
- Abbott Laboratories
- Braun Melsungen AG
- Dariohealth Corporation
- Hoffmann-La Roche
- Insulet Corporation
- Tandem Diabetes Care
- Medtronic PLC
The global digital diabetes management market is segmented on the basis of product and services, type, end user, and region.
By type, the market is segmented into wearable devices and handheld devices.
By product and Service, the market is segmented into digital diabetes management apps, data management software and platforms, and services. Of these, data management software and platforms segment is segmented into smart insulin pens, devices smart glucose meters, continuous glucose monitoring systems, smart insulin pumps/closed loop systems, and smart insulin patches. The digital diabetes management apps segment is further sub-segmented into weight & diet management apps and diabetes & blood glucose tracking apps.
By end user, the market is segmented into hospitals & specialty diabetes clinics, homecare, academic & research institutes, and others.
The Americas are the largest digital diabetes management market, followed by Europe. Asia Pacific is expected to exhibit the fastest growth in the coming years.
In 2019, One Drop announced that the company is developing a diabetes management system and soon will enter into the market with advanced technology for diabetes management system which also provide accurate level of blood glucose.
In 2019, Omada Health and Blue Cross and Blue Shield of Minnesota announced the availability of Omada's Type 2 Diabetes Digital Care program. This diabetes program will be introduced for Minnesota employers in beginning January 202