Market Highlights
The digital diabetes management provide a platform that simplify the tracking of diabetes data. It helps Type 1 and Type 2 diabetes patients to manage blood test results from a glucose meter, records of actual insulin delivery, statistical evaluation.
The increasing prevalence of diabetes, technological advancements, rising demand for selfcare, and involvement of major players in product launch, collaboration, and strategic merger & acquisitions are the major factors driving the growth of the global digital diabetes management market. Additionally, increasing research and development spending by the top players are fueling the growth of the market during forecast period. For instance, in 2017, Medtronic introduce MiniMed 670G first hybrid closed loop system for type 1 diabetes patients. Also, in 2018, Roche Diagnostics and Wellthy Therapeutics Private Limited (India) signed a partnership for offering an artificial intelligence-based digital diabetes coaching solution for users of the Accu-Chek Active system.
However, the high cost associated with homecare devices and lack of awareness may hamper the growth of the market during the assessment period.
Digital Diabetes Management Market Segmentation
The global digital diabetes management market has been segmented by type, product and services, and end user.
By type, the market is divided into wearable devices and handheld devices. The wearable devices segment is expected to hold the largest Digital Diabetes Management Market Size during the forecast period owing to regulatory approval of advanced products and technological advancements such as smart insulin patches.
By product and service, the global digital diabetes management market is segmented into digital diabetes management apps, data management software and platforms, devices, and services. Devices consist of smart insulin pumps/closed loop systems & smart insulin patches, smart glucose meters, smart insulin pens, and continuous glucose monitoring systems. Moreover, digital diabetes management apps have been sub-segmented into weight & diet management apps and diabetes & blood glucose tracking apps.
End users of the digital diabetes management market include homecare, academic & research institutes, hospitals & specialty diabetes clinics, and others. The homecare segment can hold the largest market share in the global digital diabetes management market during the forecast period.
Digital Diabetes Management Market Regional Analysis
By region, the global digital diabetes management market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas are touted to lead the global digital diabetes management market till the end of the forecast period owing to acceptance of digitally advanced solutions, favorable government schemes, and initiatives for promoting public health. Awareness of diabetes and development of mobile applications can drive regional market demand. The regional growth is characterized by mergers, acquisitions, and novel product launches. For instance, Abbott and Dexcom have decided to join hands with Insulet for the development of a digital health platform.
Europe is the second-largest region of the digital diabetes management market and headed for growth due to ample funds in research and development and government support. Raising of funds by companies for encouraging research is expected to drive regional growth. Recently, Oviva a Swiss-based provider of digital solutions for diabetes has raised close to USD 21 million in funding.
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Digital Diabetes Management Market Competitive Outlook
Tandem Diabetes Care, Inc., Glooko, Inc., Agamatrix, Inc., Insulet Corporation, Ascensia Diabetes Care Holdings Ag., B. Braun Melsungen AG, Medtronic PLC, F. Hoffmann-La Roche, Dariohealth Corporation, Dexcom, Inc., Abbott Laboratories, Tidepool, Lifescan, Inc., and others are major players of the global digital diabetes management market.
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