New York, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Patients can control their condition and manage it themselves with the help of the digital diabetes management system. Digital diabetes monitoring systems comprise hardware, mobile apps, and a sizable cloud computing infrastructure. A "smart glucose monitor" is a wireless blood glucose monitor that measures and transmits blood glucose data to an iOS or Android-powered mobile device. The anytime, anywhere nature of digital technology enables patients to address their health issues by connecting with the healthcare team and sharing data. The increasing need for a digital ecosystem of data-driven tools that can connect patients and their care team for better management of diabetes drives the market growth.
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Technological Advancements and an Increasing Prevalence of Diabetes Drives the Global Market
The development of sensor-based CGM technology, implantable digital diabetes management devices, and smartphone-based diabetes management devices are a few examples of the significant technological advancements in diabetes care that the medical device industry has seen. Advanced technological systems have increased the ability to manage diabetes and made it feasible to establish tight control while enabling patients, children, and families with a more flexible schedule and food. Currently available digital diabetes care options are competitive with their analog counterparts, such as prefilled syringes, glucose meters, test strips, and insulin pumps. The World Health Organization predicted that diabetes will be the seventh-largest cause of mortality at the end of 2030. Stress, sedentary lives, bad diets, and obesity are the key risk factors for developing diabetes. Changes in physiology associated with aging also contribute significantly to developing diabetes. According to diabetes prevalence estimates, the prevalence of diabetes increases with age.
Artificial Intelligence Implementation in Diabetes Care Equipment Creates Tremendous Opportunities
AI is a rapidly developing field, and its use in diagnosing and treating diabetes has completely changed how this long-term illness is handled. Predictive algorithms for the likelihood of developing diabetes and its complications have been created using machine learning principles. Digital therapeutics have proven to be an effective lifestyle treatment intervention for the control of diabetes. Patients are increasingly empowered for diabetic self-management, and clinical decision support benefits patients and healthcare professionals. Technological advancements have helped to optimize diabetes resource utilization. These sensible technological innovations have improved glycemic management, decreased fasting and postprandial glucose levels, glucose excursions, and glycosylated hemoglobin.
Report Scope
| Report Metric | Details |
| Market Size | USD 86.19 Billion by 2030 |
| CAGR | 19.2% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Apps, Type, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Abbott Laboratories; Medtronic plc; F. Hoffmann-La Roche Ltd; Bayer AG; Lifescan, Inc.; Dexcom, Inc.; Sanofi; Insulet Corporation; Ascensia Diabetes Care Holdings Ag; and B Braun Melsungen AG. |
| Key Market Opportunities | Implementation of Artificial intelligence |
| Key Market Drivers | Technological Advancements Rising Incidence of Diabetes |
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Regional Analysis
North America will dominate the market due to the proliferation of smart consumer devices and the development of AI-based services. In addition, the region is in the subsequent phase of the digital transformation of concepts such as the IoT, big data, machine learning, and robotics. Asia-Pacific is anticipated to have exponential growth over the forecast period due to introducing new products and a considerable diabetes population.
Key Highlights
- The global digital diabetes management market size was valued at USD 17.74 billion in 2021. It is projected to reach USD 86.19 billion by 2030, growing at a CAGR of 19.2% during the forecast period (2022–2030).
- Based on product, the market is divided into smart glucose meters, continuous blood glucose monitoring systems, smart insulin pens, and smart insulin pumps. Continuous blood glucose monitoring systems retained the most significant market share due to their connectivity with smart devices that function as display devices.
- Based on the app, the market is divided into digital diabetes management apps and weight and diet management apps. Digital diabetes management apps held the most significant market share, and the segment's rise is attributable primarily to patients' growing desire for these applications.
- Based on type, the market is divided into wearable and handheld devices. Wearable devices held the most significant market share, and this sector is predicted to grow at the fastest rate during the forecast period.
- North America will dominate the market due to the proliferation of smart consumer devices and the development of AI-based services.
Competitive Players in the Global Digital Diabetes Management market
- Abbott Laboratories
- Medtronic plc
- F. Hoffmann-La Roche Ltd
- Bayer AG
- Lifescan, Inc.
- Dexcom, Inc.
- Sanofi
- Insulet Corporation
- Ascensia Diabetes Care Holdings Ag
- B Braun Melsungen AG
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Global Digital Diabetes Management Market: Segmentation
By Product
- Smart Glucose Meter
- Continuous Blood Glucose Monitoring System
- Smart Insulin Pens
- Smart Insulin Pumps
By App
- Digital Diabetes Management Apps
- Weight and Diet Management Apps
By Type
- Wearable Devices
- Handheld Devices
Regional
- North America
- Europe
- Asia-Pacific
- LAMEA
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Digital Diabetes Management Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Product Overview
- Introduction
- Market Size & Forecast
- Smart Glucose Meter
- Market Size & Forecast
- CBGM
- Market Size & Forecast
- Introduction
- App Overview
- Introduction
- Market Size & Forecast
- Digital Diabetes Management Apps
- Market Size & Forecast
- Weight and Diet Management Apps
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Product
- By App
- Canada
- By Product
- By App
- Mexico
- By Product
- By App
- Latin America
- By Product
- By App
- Europe
- Market Size & Forecast
- Germany
- By Product
- By App
- France
- By Product
- By App
- U.K.
- By Product
- By App
- Italy
- By Product
- By App
- Spain
- By Product
- By App
- Rest of Europe
- By Product
- By App
- Asia Pacific
- Market Size & Forecast
- Japan
- By Product
- By App
- China
- By Product
- By App
- Australia
- By Product
- By App
- India
- By Product
- By App
- South Korea
- By Product
- By App
- Rest of Asia-Pacific
- By Product
- By App
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Product
- By App
- South Africa
- By Product
- By App
- Kuwait
- By Product
- By App
- Rest of Middle East & Africa
- By Product
- By App
- Introduction
- Company Profile
- Abbott Laboratories
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Medtronic plc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- F Hoffmann-La Roche Ltd
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Abbott Laboratories
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/digital-diabetes-management-market/toc
Market News
- In April 2022, Abbott’s Aveiro VR pacemaker helps with slow heart rhythms and gives a competitive boost to cardiac rhythm management.
- In June 2022, Abbott announced developing a novel continuous glucose-ketone monitoring system.
- In May 2022, EuroPCR: Medtronic renal denervation system shows better blood pressure control with significantly more time in the target range.
- In May 2022, New data supported renal and cardiovascular benefits of Kerendia™ (finerenone) in patients with and without a history of left ventricular hypertrophy and chronic kidney disease, and type 2 diabetes.
News Media
Diabetes Devices Market Size Worth USD 30,412.19 million by 2030
Increasing Prevalence Of Diabetes, Due To Lifestyle And Dietary Changes, To Drive Market Growth
Have a Look at the Related Research Report
Diabetes Care Devices Market: Information by Monitoring Devices (Self-monitoring Blood Glucose Device), Management Devices (Insulin Syringes, Jet Injectors), and Region — Forecast till 2030
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Diabetes Supplement Market: Information by Supplements Types (Vitamins, Artificial Sweeteners), Distribution Channel (Hospital Pharmacies, Retail Pharmacies), Dosage Forms—Forecast Till 2030
Diabetes Management Market: Information by Device Type (Diagnostic Devices, Monitoring Devices) and Therapeutics Type (Injectables and Oral), and Region — Forecast till 2029
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