Global Digital Diabetes Management Market Forecast to 2030
The Digital Diabetes Management Market report also includes an in-depth examination of the market's key competitors, as well as their development strategies and business expansion plans. The archive, in particular, encourages entrepreneurs to look for information about potential customers and where they can find them. The review, which includes only the best sellers, enables entrepreneurs to learn about their local market and find potential customers.
According to the most recent analysis by Emergen Research, the global digital diabetes management market size reached USD 13.6 billion in 2021 and is anticipated to experience a revenue CAGR of 12.0% over the projected period. A few of the major factors propelling the revenue growth of the digital diabetes management market are the rising prevalence of diabetes and obesity around the world, rising demand for medical devices, management apps like glucose tracking apps and wearables, as well as the introduction of technologically innovative cloud-based digital tools and solutions.
Digital health management is becoming more significant in the care of diabetics at all stages of the disease and offers the potential to simplify the difficult chore of managing diabetes on one's own. To meet people's needs across the continuum of care, digital diabetes management Solutions entails clinical programs, services, and integrated technology. These options make participant participation simpler, promote greater commitment, and point participants in the direction of better outcomes. Digital diabetes management has been significantly impacted by the creation of smartphone applications that allow users to monitor their blood sugar levels, nutrition, physical activity, sleep cycle, and other data at their fingertips. Digital technologies for managing diabetes are available to assist with blood sugar monitoring, keeping track of dietary and lifestyle data, improving medical results, and maintaining healthy blood sugar levels. In order to create a complete picture, it compiles relevant data from diabetes care devices, such as glucose monitoring software, insulin data, health and fitness trackers, and other systems. It also provides recommendations and customized glucose forecasts. As a result, the demand for digital solutions for tracking and monitoring blood glucose levels is growing, which is fueling the demand for digital diabetes management and driving revenue growth of the market.
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Competitive Terrain:
The global Digital Diabetes Management industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Medtronic plc, Abbott Laboratories, Novo Nordisk A/S, DexCom, Inc, Bayer AG, Eli Lilly and Company, LifeScan IP Holdings, LLC., F Hoffman-La Roche Ltd., Tandem Diabetes Care, Inc., Insulet Corporation
Research Report on the Digital Diabetes Management Market Addresses the Following Key Questions:
- Who are the dominant players of the Digital Diabetes Management market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Digital Diabetes Management market?
- What are the key growth drivers and restraining factors of the Digital Diabetes Management market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Digital Diabetes Management market and its key segments?
Market Overview:
The report bifurcates the Digital Diabetes Management market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Devices
- Smart Glucose Control Meter
- Continuous Blood Glucose Monitoring System
- Insulin Pens/Pumps
- Others
- Blood Glucose Tracking Apps
- Weight & Diet Management Apps
- Others
- Device Type Outlook (Revenue, USD Billion; 2019-2030)
- Wearables
- Handheld Devices
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals & Clinics
- Home Care Settings
- Diagnostic Centers
Regional Landscape section of the Digital Diabetes Management report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- The home care settings segment accounted for largest revenue share in 2021. There are numerous emerging technologies that can be used to improve, support, and inform decisions about how to manage residents diabetes care; this can help with issues such as access to specialized support or clear standards of care for diabetes management in nursing homes. The use of technology such as mHealth apps, wearables, and continuous blood glucose tracking apps makes it possible to begin early intervention, facilitates effective responsive care, and most importantly, connects the community of care homes to multidisciplinary clinical teams for support and communication. Such diabetes technologies have been shown to enhance health outcomes. As a result, these digital management options present chances to enhance patient empowerment and self-care. These are major factors driving revenue growth of the segment.
- The application (Apps) segment is expected to grow at a steady CAGR during the forecast period. Diabetes self-management tasks, such as blood glucose monitoring, medication or insulin administration, accessing diabetes or general health information, and tracking nutritional intake or physical activity are the main uses for diabetes applications. Potential app functions include monitoring blood sugar levels or insulin use, calculating insulin dosages, keeping track of nutrition, body weight, and physical activities, as well as disseminating knowledge or information. Various top market companies are introducing continuous blood glucose tracking and management applications and services, which is driving revenue growth of the market. It is expected that daily blood sugar checks and follow-ups for diabetes patients will enhance the use of fitness applications.
- Europe accounted for significant revenue share in 2021 Some of the major factors driving the growth of the digital diabetes management market in the region include rapid technological advancement of mechanical commercial digital diabetes management, increased funding and favorable regulations offered by the government for the production of wearable technology, attractive medical reimbursement policies introduced by the government as well as presence of a well-established healthcare infrastructure. These factors dramatically improved revenue growth of the market in the region.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Digital Diabetes Management market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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