Digital Diabetes Management Market Size, Share, Growth Analysis, By Type (Wearable Devices, Handheld Devices), By End Use (Hospitals, Home Settings), By Product (Continuous Blood Glucose Monitoring System, Smart Insulin Pens), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45E2265 |
Region:
Global |
Published Date: November, 2024
Pages:
174
|Tables:
0
|Figures:
0
Digital Diabetes Management Market Insights
Global Digital Diabetes Management Market size was valued at USD 12.78 Billion in 2022 and is poised to grow from USD 13.84 Billion in 2023 to USD 24.18 Billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).
Advances in technology along with the fast-increasing numbers of diabetes cases are found to be the major contributors in the digital diabetes management market growth. The International Diabetes Federation has estimated that in 2021, 537 million adults were suffering from diabetes and that is estimated to increase up to 783 million by 2045. The diabetes sphere is predicted to undergo considerable ranges of technological developments in the market in due course of time with the passing of digital technology and may also impact on how we treat the disease. Over a hundred applications are available in web-based app stores that can potentially aid patients in the monitoring of blood glucose levels, and the increase in smartphone apps for diabetes management has been phenomenal in the last few years. The prevalence of diabetes is anticipated to increase globally due to rapidly changing lifestyle decisions that include smoking and drinking more alcohol. The most significant driver in the rapid increase of the number of diabetes patients is obesity. With the growth of the obese population and the enhanced awareness among the patients, the market for diet and weight control applications is promising a lot. A digital ecosystem of solutions based on data has been developed for gathering patients and their care teams together to possibly enhance diabetic management.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
To get more reports on the above market click here to Buy The Report
Digital Diabetes Management Market Segmental Analysis
The global digital diabetes management market is segmented into product, type, end use, and region. By product, the market is classified into smart glucose meter, continuous blood glucose monitoring system, smart insulin pens, and smart insulin pumps. Depending on type, it is categorized into wearable devices and handheld devices. According to end use, the market is divided into hospitals, home settings, and diagnostic centers. Regionally, it is studied across North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Type
According to the digital diabetes management market forecast of 2023, the growth rate is expected to be highest in the wearable devices segment with a CAGR of 8.4% because of closed-loop pump systems, smart insulin patches, and artificial intelligence interfaces. Consequently, the patients are more predicted to accept such devices as they enhance the user experience as well as the effectiveness of diabetes care. As the cases of diabetes are on an all-time high around the globe, demand for self-administered devices that help administer insulin is also rising. Taking into account this trend, the competition in the market is kept on by constant product development as well as innovation in this market.
The handheld devices segment will maintain a considerable share of the market during the forecast period due to new launches and non-stop technical advancements. These devices help manage diabetes properly by allowing measurements and tracking of blood glucose levels and calculation of exact requirements for the dose of insulin. They increase patients' ability to monitor their health since they are able to save their data using friendly interfaces. For instance, the classic FDA-approved "Omnipod DASH" system by Insulet combines touchscreen technology with Wi-Fi connectivity that allows remote software upgrades and access to data in real-time. This feature of improving patient outcomes and providing smooth diabetes care helps to guarantee it.
Analysis by Product
The continuous glucose monitoring system segment held the highest digital diabetes management market share of revenue in 2023, making up more than 40.6%, primarily due to its advanced features that enrich user experience and engagement. The primary reason is that these systems are compatible with smart devices, making it easy to visualize data. They also carry configurable alarms to alert patients when their blood sugar levels have reached certain criteria. This proactive monitoring capability significantly improves diabetes control through early interventions. The market can be further segmented into smart insulin pens, continuous blood glucose monitoring systems, smart glucose meters, smart insulin pumps, and several apps such as digital diabetes management, and applications for weight & diet management.
However, the smart insulin pens segment is expected to grow at the fastest rate during the projection period, of 11.4%. Increased innovations and adoption rates in the introduction of new products and usage of artificial intelligence technology are major drivers behind this growth. Further development and companies focusing more on the improvement of the smart insulin pen solutions further drive up this competitive environment. In fact, the latest development in diabetes treatment is by Novo Nordisk that has brought their smart insulin pens to the UK market as of March 2022. The launch, which would help to make their experience in managing diabetes better, gives NHS patients access to cutting-edge technologies for monitoring and recording.
To get detailed analysis on other segments, Request For Free Sample Report
Digital Diabetes Management Market Regional Insights
In 2023, North America dominated the market with a share over 38.0% due to various digital blood glucose patient monitoring devices that have recently been approved in the region and advanced technology is available. For instance, in January 2022, Insulet Corporation stated that their Omnipod 5 Automated Insulin Delivery System has been approved by the U.S. FDA. This is a special system that integrates with Dexcom G6 Continuous Glucose Monitoring (CGM). Integrate a SmartBolus Calculator for remote patient monitoring and data sharing through the Omnipod 5 smartphone app. Region-specific market growth will be supported by the aging population and the increasing prevalence of diabetes related to lifestyle changes.
Nevertheless, because of the new product launch, the large diabetic population, and the increased government activities in the region, Asia-Pacific is predicted to rise with the highest CAGR of 9.8% during the forecast period. For instance, the Australian Centre for Accelerating Diabetes Innovations ACADI at the University of Melbourne reportedly received USD 10 million from the federal government over four years, in January 2022. The ACADI will be a new virtual research center, linking the research institutes across the country and helping notable industry partners and organizations in developing novel treatments, technological advancements, and behavioral interventions while solving the diabetes-related challenges in Australia.
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Digital Diabetes Management Market Dynamics
Drivers
Increasing Concern for Health
- Increased use of digital management systems is characterized by growing public awareness of diabetes and its implications. Due to health promotion campaigns and educational programs informing people how to control their health, tools that facilitate proactive management and self-monitoring are in greater demand. Growing public awareness of proper diabetes treatment results in the increased popularity of digital platforms providing easily accessible and accessible materials.
Support of Healthcare Professionals
- Diabetes management solutions, being a more holistic pattern of treatment, are increasingly being integrated by healthcare professionals. Providers are more predicted to prescribe patients' real-time monitoring and data-sharing capabilities as patients become better informed about the benefits. This acceptance places technology as an integral part of healthcare practices, enhancing patient engagement and further moving diabetes toward a better management style.
Restraints
Technical Illiteracy Challenges
- That is, a limitation in the adoption of digital technologies of diabetes care arises primarily through the patient's varying levels of technological literacy. More complicated applications and devices that are difficult to use turn older or technologically ignorant patients away from embracing such technologies, meaning that their full potential is not maximally exploited. This balance, therefore, calls for user-friendly designs and comprehensive training to ensure that every patient, regardless of his or her technical literacy level, uses these products appropriately.
Regulatory Barriers
- Strict regulation of the digital health sector can ensure that new diabetic treatment inventions cannot penetrate the market. Innovators' inventions are predicted to be locked out from entering the market since navigating such legal environments is overwhelming, and some will shy away from venturing into them. Potentials for technologies may be delayed. The regulatory processes may be streamlined, hence allowing easier access to new technologies if such barriers are streamlined and cooperation between entrepreneurs and regulatory agencies encouraged.
Request Free Customization of this report to help us to meet your business objectives.
Digital Diabetes Management Market Competitive Landscape
The major industry players are trying to enhance their client offers by putting more and more effort into the implementation of cutting-edge technology and sophisticated products. They are creating strategic alliances, considering acquisitions, and taking part in government programs with an objective to increase their market presence and serve better, earning a competitive advantage in a fast-changing market.
Top Player’s Company Profile
- Abbott
- Medtronic
- F. Hoffmann-La Roche Ltd.
- Bayer AG
- Sanofi
- Dexcom, Inc.
- LifeScan, Inc.
- Insulet Corporation
- Ascensia Diabetes Care Holdings AG
- B. Braun Melsungen AG
- ACON Laboratories, Inc.
- NOVO Nordisk A/S
- Roche
- Omada Health
- Tandem Diabetes
Recent Developments
- In March 2022, Novo Nordisk launched smart insulin pens in the UK. Patients now have access to the world's first-ever monitoring and recording technology when receiving diabetes care under the NHS.
- In January 2022, Insulet Corporation announced that their Omnipod 5 Automated Insulin Delivery System, which is the special one with integration with Dexcom G6 Continuous Glucose Monitoring (CGM), has been approved by the U.S. FDA.
- In May 2021, GlucoContro.online is a web-based diabetes management and analytics application launched by Ascensia Diabetes treatment. It offers data-driven treatment to users of any CONTOUR blood glucose monitoring meter.
Digital Diabetes Management Key Market Trends
- AI-Powered Personalized Care: One of the recent trends in diabetes care is the application of artificial intelligence, where personalized regimens of treatment are being made possible. Data about a patient shall be processed with the help of algorithms containing AI, so the users shall receive advice on medicines, diet, and exercise that is personalized for them. Patients will become more motivated to take an active and participative approach towards diabetes management because they shall be presented with more salient information regarding their situation, thus performing better at compliance and results.
- Rising Trend in Adoption of Remote Monitoring: Remote monitoring systems are rapidly gaining popularity, particularly in the recent COVID-19 era. The patients do not need to meet clinicians in person in order to consult with them on any health-related information due to digital means. Apart from patient satisfaction, it allows for immediate actions, and thus proper control of diabetes may result. Telehealth and remote monitoring will probably become integral parts of diabetes care as they evolve.
Digital Diabetes Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global digital diabetes management market outlook highlights Important factors supporting the growth of the market. These are health awareness, the rising incidence of diabetes, and technological advancements. With advances in technology and especially associated with AI, wearable technology has more promise to deliver accurate treatment and higher patient engagement-a space from which competition still lingers as far as data privacy and illiteracy towards technology at most grades are concerned. The shift towards comprehensive care models and support for the practicing healthcare professional gives credence to the fact that systemic management techniques are called for. Pricing and access limitations will need to be adequately addressed as this industry evolves to ensure all patients share in these advancements that lead toward better health outcomes and an empowered patient population.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.78 Billion |
| Market size value in 2031 | USD 24.18 Billion |
| Growth Rate | 8.3% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Digital Diabetes Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Digital Diabetes Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Digital Diabetes Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Diabetes Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Diabetes Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Digital Diabetes Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
