Digital Diabetes Management Market: Global Industry Analysis and Forecast (2022-2029)

Digital Diabetes Management Market was valued at US$ 14.1 Billion in 2021 and is expected to reach US$ 31.38 Billion by 2029. The global Digital Diabetes Management Market size is expected to grow at a CAGR of 10.52 % through the forecast period.
Digital Diabetes Management Market Overview:
Diabetes is on the rise, and digital health companies are fighting back with cutting-edge solutions. The rising number of diabetic patients around the world, as well as the growing need for new ways to control the disease, are likely to boost patient acceptance of novel diabetes devices, software, and applications in the future years, propelling digital diabetes market forward.

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The increased investment from corporations and organizations is likely to encourage the use of digital diabetic devices, which will drive the market's growth in the future years.Furthermore, various governments are launching diabetes awareness initiatives, which is boosting market growth. These organizations' media campaigns for diabetes care and prevention raise awareness of available technology in the industry.

The report explores the Digital Diabetes Management Market's segments (Device Type and End User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2021 to 2029. The report investigates the Digital Diabetes Management Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Digital Diabetes Management Market's contemporary competitive scenario

Impact of Covid-19 on Digital Diabetes Management Market:

The increasing inclination for digital technologies for disease management among diabetes patients at high risk of COVID-19 fueled the rise of the digital Diabetes Management industry. Individuals with pre-existing diabetes were likely to be particularly vulnerable to COVID-19 infections, thus healthcare providers advised that blood glucose levels be closely monitored to avoid problems. The pandemic necessitated a review of the viability of various digital devices across hospitals in order to free up medical staff for COVID-19 while still efficiently managing patients with other illnesses.

2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analysis especially with the impact of lockdown by region.
Digital Diabetes Management Market Dynamics:
Traditional Diabetes Management medicines, as well as prior iterations or analogues, are being replaced by newer digital alternatives that are more convenient. Devices like the FreeStyle Libre and Dexcom G5 CGM, for example, make minimally invasive and accurate glucose monitoring possible. Non-invasive connected sensor advancements, such as Sensionics' Eversense XL, have been critical in improving the accuracy of monitoring blood glucose levels and the device's durability (that can last up to 180 days). Minimally invasive approaches include skin patches, gas sensors, radio-wave technologies, and microneedles.

The medical device industry has seen significant technological advancements in the field of diabetes care over the last decade, including the introduction of focused sensor-based CGM technology, implantable digital Diabetes Management devices, closed-loop systems, and wearable smartphone-based Diabetes Management devices. Technologically enhanced systems have improved the ability to manage diabetes and made it possible to establish tight control while giving patients, children, and their families a more flexible schedule and food. Several digital diabetes care alternatives, such as prefilled syringes, glucose metre analogues, test strips, and insulin pumps, are currently competitive with their traditional counterparts.

Patients can use the digital Diabetes Management system to improve self-management and control of their condition. One of the key obstacles in managing diabetes is lowering blood glucose levels and maintaining them, which drives up use of these systems. Digital involvement can help individuals with diabetes Device Types 1 and 2 get the care they need. Diabetes monitoring hardware, mobile applications, and big data cloud computing infrastructure make up digital diabetes devices. The term "smart glucose monitor" refers to a wearable blood glucose monitor those measures and transmits blood glucose data to an iOS or Android mobile device.
Digital Diabetes Management Market Segment Analysis:
Based on Device Type:
1. Handheld devices and Wearable devices: The market for digital Diabetes Management devices is divided into handheld and wearable devices. In 2021, wearable devices represented for 58.7% of the market for digital Diabetes Management devices. CGM systems, smart insulin pumps, and smart insulin patches are examples of these devices. Increased public awareness of glucose monitoring; an increase in the number of regulatory approvals for CGM systems; and technology improvements such as closed-loop pump systems, smart insulin patches, and other pipeline devices are all driving demand for wearable Diabetes Management devices. Furthermore, connected gadgets enable patients to submit data online at home and provide rapid access to glucose-level readings at periodic intervals.

Based on End User: The Self/home healthcare segment to grow at the fastest xx% CAGR during the forecast period

1. Self/home healthcare: A nutritious diet, being physically active, glucose monitoring, correct medication, checking cholesterol levels, taking care of kidneys, and losing weight are all linked to better glycemic control, fewer long-term complications, and improved quality of life in diabetics.

2. Specialty diabetes clinics: Getting a diabetes diagnosis and learning about the disease isn't always enough to help you control your condition. Seeing a specialist will put you in touch with a comprehensive diabetes care team, each of whose members—a nurse practitioner, dietitian, pharmacist, educator, and exercise physiologist—brings unique areas of expertise to help you tailor your care to your personal needs.

Self/home healthcare, hospitals & specialist diabetic clinics, and academic & research organisations are the primary End Users in the digital Diabetes Management industry. During the forecast period, the self/home healthcare category is expected to increase at the fastest rate of xx%. Self/home care digital Diabetes Management systems and platforms have improved in accuracy, low invasiveness, and ease of use as a result of technological improvements. The rise in demand for non-invasive or minimally invasive technologies in-home care has been fueled by the development of CGM systems, insulin pump therapy, applications, and services.
Digital Diabetes Management Market Regional Insights:
North America dominates the digital Diabetes Management market in 2021 because of the increasing penetration of smart consumer devices and innovation in AI-based services and the introductionthe of ithe internet of things, big data, machine learning, and robotics.

The Asia Pacific is predicted to develop at a significant CAGR over the forecast period due to new product introductions and a high diabetes population, Diabetes affects roughly 229 million individuals worldwide, accounting for over xx% of the global population. Many product releases are also taking place in the region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

The objective of the report is to present a comprehensive analysis of the Global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Market dynamic, structure by analyzing the market segments and projecting the Market size. Clear representation of competitive analysis of key players by Vehicle Device Type, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
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Global Digital Diabetes Management Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 14.1 Bn


Forecast Period 2022 to 2029 CAGR:
10.52 %
Market Size in 2029:
US $ 31.38 Bn


 Segments Covered:
by Device Type
• Handheld Devices
• Wearable Devices


by End-User
• Self/Home Healthcare
• Specialty Diabetes Clinic



Digital Diabetes Management Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Digital Diabetes Management Market Key Players
• BeatO
• Pendiq GmbH
• Decide Clinical Software
• Azumio
• Care Innovations, LLC
• ACON Laboratories
• Emperra GmbH e-Health
• ARKRAY
• Ypsomed Holding AG
• Dottli
• One Drop
• Dario Health Corporation
• Glooko Inc.
• Abbot Laboratories
• Dexcom Inc.
• Tandem Diabetes Care
• Agamatrix
• Tidepool
• LifeScan Inc.
• Medtronic

Frequently Asked Questions:

1] What segments are covered in the Global Digital Diabetes Management Market report?
Ans. The segments covered in the Market report are based on Device Type and End User.

2] Which region is expected to hold the highest share in the Global Digital Diabetes Management Market?
Ans. North America region is expected to hold the highest share in the Market.

3] What is the market size of the Global Digital Diabetes Management Market by 2029?
Ans. The market size of the Market by 2029 is expected to reach US$ 31.38 Bn.

4] What is the forecast period for the Global Digital Diabetes Management Market?
Ans. The forecast period for the Market is 2022-2029.

5] What was the market size of the Global Digital Diabetes Management Market in 2021?
Ans. The market size of the Market in 2021 was valued at US$ 14.1 Bn.