New York, United States , Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Global Digital Diabetes Management Market Size is to Grow from USD 15.46 Billion in 2022 to USD 50.20 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period.
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Digital Diabetes Management involves the use of technology to enhance the monitoring, treatment, and overall care of individuals with diabetes. This comprehensive approach integrates various digital tools such as mobile apps, wearable devices, and remote monitoring systems to track blood glucose levels, insulin administration, physical activity, and dietary intake. By collecting real-time data, individuals and healthcare providers can make informed decisions, customize treatment plans, and proactively address fluctuations in glucose levels. Digital platforms also facilitate communication between patients and healthcare professionals, enabling timely interventions and reducing the risk of complications.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on “Global Digital Diabetes Management Market Size, Share, and COVID-19 Impact Analysis, By Product (Smart Glucose Meter, Continuous Blood Glucose Monitoring System, Smart Insulin Pens, Smart Insulin Pumps, and Apps), By Type (Wearable Devices and Handheld Devices), By End-Use (Hospitals, Home Settings, and Diagnostic Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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In 2022, the continuous blood glucose monitoring system segment accounted for around 38.4% market share
On the basis of the product, the global digital diabetes management market is segmented into smart glucose meter, continuous blood glucose monitoring system, smart insulin pens, smart insulin pumps, and apps. The continuous blood glucose monitoring system segment commands the largest revenue share within the digital diabetes management market due to its transformative impact on diabetes care. This technology offers real-time monitoring, enabling individuals to track glucose levels continuously and receive timely alerts for necessary interventions. The system enhances patient compliance, reduces the risk of complications, and provides valuable data for treatment adjustments. As patients and healthcare professionals increasingly recognize its benefits, the demand for continuous blood glucose monitoring systems surges, solidifying its position as a dominant revenue generator in the market.
The wearable devices segment held the largest market with more than 48.5% revenue share in 2022
Based on the type, the global digital diabetes management market is segmented into wearable devices and handheld devices. Wearable devices have captured the largest revenue share in the digital diabetes management market due to their convenience and multifunctionality. These devices, such as smartwatches and fitness trackers, seamlessly integrate glucose monitoring with other health metrics like physical activity and heart rate. This comprehensive approach resonates with users seeking holistic health insights. Wearable devices also offer continuous monitoring without invasive procedures, aligning with patient preferences. As their design and accuracy improve, along with the growing trend of health-conscious consumers, wearable devices continue to dominate the market, driving substantial revenue growth.
The hospital segment is expected to grow at a significant CAGR during the forecast period
Based on the end-use, the global digital diabetes management market is segmented into hospitals, home settings, and diagnostic centers. The hospital segment is anticipated to experience significant growth within the digital diabetes management market due to multiple factors. Hospitals are pivotal hubs for critical diabetes care, diagnosis, and treatment. The integration of digital management solutions enhances patient monitoring, streamlines data sharing between healthcare providers, and improves overall care coordination. As hospitals embrace technology to optimize workflows and patient outcomes, the demand for digital diabetes management tools within these settings increases.
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Asia-Pacific is expected to grow at a higher CAGR of around 12.8% over the projected period
Based on region, the Asia Pacific region is poised for exponential growth in the digital diabetes management market due to the substantial diabetic population, increasing the demand for advanced management solutions. Rapid technological adoption, propelled by a surge in smartphone usage and internet penetration, facilitates digital health integration. Economic development and improving healthcare infrastructure also play a role. As awareness of diabetes management rises, coupled with government initiatives to promote digital health, Asia Pacific emerges as a promising market.
North America asserts dominance in the digital diabetes management market due to its advanced healthcare infrastructure, high adoption of technology, and robust research and development initiatives. The region's significant diabetic population drives demand for innovative solutions. Favorable reimbursement policies and regulatory support further accelerate market growth. Moreover, partnerships between tech companies and healthcare providers contribute to the market's expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global digital diabetes management market include 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.
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Recent Developments
- In May 2021, Ascensia Diabetes treatment has launched GlucoContro.online, a browser-based diabetes management and analytics platform that delivers data-driven treatment to those who use Contour blood glucose monitoring metres.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global digital diabetes management market based on the below-mentioned segments:
Digital Diabetes Management Market, By Product
- Smart Glucose Meter
- Continuous Blood Glucose Monitoring System
- Smart Insulin Pens
- Smart Insulin Pumps
- Apps
Digital Diabetes Management Market, By Type
- Wearable Devices
- Handheld Devices
Digital Diabetes Management Market, By End-Use
- Hospitals
- Home Settings
- Diagnostic Centers
Digital Diabetes Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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