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Rising diabetes rates worldwide affect the digital diabetes management sector. As diabetes rates rise, so does the need for innovative digital technologies to monitor and management it.
Rapid advances in healthcare technology, especially digital health, shape the digital diabetes management industry. CGM systems, smart insulin pens, and mobile apps help produce more advanced and user-friendly diabetes management solutions.
The digital diabetes management industry has been affected by smartwatches and fitness trackers' popularity. These devices commonly interface with diabetes management apps to give real-time data monitoring, alarms, and insights to diabetics and doctors.
Digital technologies that allow diabetics to actively manage their health have been developed to empower and involve patients. Educational tools, user-friendly interfaces, and individualized feedback boost patient participation in digital diabetes care systems.
Telehealth and remote patient monitoring have transformed digital diabetes treatment. In virtual healthcare, remote monitoring of blood glucose levels, medication adherence, and lifestyle variables allows for individualized treatment and interventions.
Government policies supporting digital health efforts affect the digital diabetes management sector. Digital solutions are safe, secure, and effective within regulatory frameworks, encouraging innovation and industry expansion.
The worldwide healthcare spending growth boosts the digital diabetes management industry. The market grows as healthcare systems engage in digital solutions to enhance patient outcomes and minimize diabetes-related healthcare expenditures.
Data security and privacy affect the digital diabetes management sector. Addressing privacy concerns and establishing strong security measures are essential for confidence and broad adoption of digital technologies that gather and transmit sensitive health data.
Integrating digital diabetes management systems with EHRs improves treatment continuity. Information transfer between digital instruments and healthcare systems enables complete patient management and greater provider coordination.
Prevention-focused healthcare boosts the digital diabetes management business. Digital solutions that provide proactive monitoring, lifestyle advice, and early intervention tactics support the change from reactive to preventive healthcare.
Healthcare professionals' use of digital diabetes management tools drives the industry. Integrating solutions into clinical processes and providing actionable information to healthcare professionals increases market adoption and growth.
Patient-centric digital diabetes care options are becoming more important. Patient-centered diabetes care solutions that incorporate patients' needs and preferences are likely to be adopted.
Digital Diabetes Management Market Highlights:
Global Digital Diabetes Management Market Overview
The Digital Diabetes Management Market size is projected to reach USD 87.7 Billion by 2032 at 20.1% CAGR during the forecast period 2023-2032. Computerized diabetes the executives help diabetes patients to customize and follow diabetes by using progressed ideal models of advanced innovations through shrewd glucose meters and blood glucose following applications.
Variable like the rising commonness of diabetes, expanding interest for taking care of oneself, innovative headways, rising geriatric populace, and government drive are supposed to drive the development of the market. Besides, rising R&D spending and forceful methodologies took on by the top players, for example, new item dispatches are adding to the development of the market.
The rising commonness of diabetes has expanded the attention on the turn of events and reception of improved answers for diabetes care. Likewise, progressions in advancements have guaranteed the presentation of profoundly adaptable arrangements on the lookout.
The rising reception of cloud-based undertaking arrangements and the developing utilization of associated gadgets and applications are a portion of the other central point supporting business sector development.
In any case, factors, for example, the high gadget costs, absence of repayment in agricultural nations, and the higher acknowledgment of conventional diabetes the board gadgets are supposed to limit the development of this market during the figure time frame.
The main considerations driving the development of the market are expansion in reception of cell phones and tablets combined with medical services applications and flood in the diabetic populace worldwide.
As opposed to these, the market development is hampered by absence of mindfulness with respect to computerized diabetes the board in non-industrial nations and patient information security concerns. Running against the norm, developing business sectors offer huge open doors for the development of worldwide advanced diabetes the board market.
A press release was issued by Eli Lilly and Company in January 2024, wherein the introduction of LillyDirect was declared. In the United States, the platform serves as a digital healthcare resource for the management and assistance of patients afflicted with obesity, migraine, and diabetes. As per the announcement, LillyDirect provides an array of services encompassing medication delivery, support, and disease management. While the press release does mention several other features, it concentrates predominantly on the LillyDirect Pharmacy Solutions feature. The platform of the company facilitates user connections with a third-party online pharmacy fulfillment service via LillyDirect Pharmacy Solutions. The rationale for this element is to facilitate patients' consistent access to their prescribed medications, thereby enhancing medication adherence. A chronic disease management burden is exacerbated by the complexity of the American healthcare system. Their objective with LillyDirect is to alleviate a portion of these burdens by streamlining the patient experience in an effort to enhance outcomes. The pharmacy component of the platform, according to the company, will enable patients to acquire specific Lilly medications directly from the company, thereby eradicating the need for an intermediary and facilitating easier access to affordable solutions.
Abbott introduced its digital health application, FreeStyle LibreLink, in India in November 2023. Users of the FreeStyle Libre system can obtain glucose readings on their mobile devices without the need for a finger test using the mobile application. By utilizing near-field communication (NFC) technology, glucose data is transmitted from the sensor to the mobile application. It enables smartphone users to assist in the monitoring of eight-hour glucose history and real-time trend patterns in order to better manage food, insulin use, medication, and exercise. By utilizing the FreeStyle LibreLink application, individuals diagnosed with diabetes are able to access real-time glucose readings on their mobile devices and transmit this data to their physicians via LibreLinkUp and LibreView.
Digital Diabetes Management Market Insights
The digital diabetes management market has been segmented on the basis of type, product and services, end user, and region.
On the basis of type, the market has been classified as wearable devices and handheld devices. The market, by product and service, has been segmented into devices, data management software and platforms, digital diabetes management apps, and services. The devices have been further segmented into smart glucose meters, smart insulin pens, continuous glucose monitoring systems, smart insulin pumps/closed loop systems & smart insulin patches. Moreover, digital diabetes management apps have been sub-segmented into weight & diet management apps and diabetes & blood glucose tracking apps. Based on end user, the market has been segmented into homecare, hospitals & specialty diabetes clinics, academic & research institutes, and others. The wearable devices segment is expected to hold the largest market share of the digital diabetes management market, by type, during the forecast period owing to regulatory approval of CGM system and technological advancement such as smart insulin patches. Also, homecare segment, by end user holds the largest market share in the digital diabetes management global market during the forecast period.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The digital diabetes management market in the Americas has further been segmented into North America and South America. Whereas, North American region has been further divided into the US and Canada.The European digital diabetes management market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the Rest of Western Europe.
The market of digital diabetes management in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and Rest of Asia-Pacific. The digital diabetes management global market in the Middle East & Africa has been segmented into the Middle East and Africa.
Digital Diabetes Management Market Regional Insights
The Americas are likely to dominate the global digital diabetes management market owing to the wide acceptance of technologically advanced solutions such as closed-loop control systems, rising adoption of diabetes management remote online coaching services, connected diabetes management apps. Moreover, favorable reimbursement policies, raising awareness, government initiatives to promote digital health, and aggressive strategic adopted by players such as product launch, merger & acquisition, and partnership in this region also fueling the market growth of digital diabetes management. For instance, in November 2018, Nutrino has been acquired by Medtronic plc that strengthened Medtronic's portfolio in the digital diabetes management Industry.
The European market is expected to be the second-largest digital diabetes management market. The market growth in this region can be attributed to the government support for research & development and availability of funds for research.
Asia-Pacific is expected to be the fastest-growing market of digital diabetes management during the forecast period owing to the rising number of the diabetes patient, increasing investments in healthcare and expansions by market players in the region. Moreover, countries such as India and China are considering the fastest growing region due to the presence of a huge patient population. Moreover, the government of these countries is open to adopting new technology and the best treatment option from a developed country. According to a research paper published by the National Center for Biotechnology Information (NCBI) in September 2016, diabetes will be the 7th leading cause of death by 2030.
The market in the Middle East & Africa is expected to account for the smallest market share of the global digital diabetes management due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Key Companies in the Digital Diabetes Management market include
Some of the key players in the global digital diabetes management market are
- Abbott Laboratories
- Agamatrix Inc.
- Ascensia Diabetes Care Holdings Ag.
- Braun Melsungen AG
- Dariohealth Corporation
- Dexcom Inc.
- Hoffmann-La Roche
- Glooko Inc.
- Insulet Corporation
- Lifescan Inc.
- Medtronic PLC
- Tandem Diabetes Care Inc.
- Tidepool
- Others
Digital Diabetes Management Market Segmentation
Digital Diabetes Management Type Outlook
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Wearable Devices
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Handheld Devices
Digital Diabetes Management Product and Service Outlook
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DevicesSmart Glucose Meters
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Continuous Glucose Monitoring Systems
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Smart Insulin Pumps/Closed Loop Systems & Smart Insulin Patches
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Data Management Software and Platforms
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Digital Diabetes Management AppsWeight & Diet Management Apps
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Diabetes & Blood Glucose Tracking Apps
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Services
Digital Diabetes Management End User Outlook
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Homecare
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Hospitals & Specialty Diabetes Clinics
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Academic & Research Institutes
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Others
Digital Diabetes Management Region Outlook
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Americas
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North America
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US
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Canada
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South America
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Europe
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Western Europe
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Germany
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France
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Italy
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Spain
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UK
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Rest of Western Europe
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Eastern Europe
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Asia-Pacific
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Japan
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China
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India
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Australia
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South Korea
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Rest of Asia-Pacific
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The Middle East & Africa
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Middle East
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Africa
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Recent Development
In August 2023,
Entered a partnership with Agamatrix to integrate its blood glucose monitoring devices with the Dario diabetes management platform.
In October 2018:
Novo Nordisk declared to present two associated insulin pens. Be that as it may, the significant expense related with homecare gadgets and absence of mindfulness might hamper the development of the advanced diabetes the board market during the evaluation time frame.
Intended Audience
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Medical devices companies
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Hospitals
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Research and development (R&D) companies
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Medical research laboratories
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Research and consulting firms
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