Digital Diabetes Management Market Size to Hit US$ 90 Bn by 2030

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Ottawa, June 09, 2022 (GLOBE NEWSWIRE) — The global digital diabetes management market was valued at US$ 19.02 billion in 2021. The major industry leaders operating in the digital diabetes management are focusing on providing innovative products and introducing advanced technologies in this market. Recent increase in health awareness due to the pandemic has also supported the market to grow pertaining to the rapid steps take by the government towards health care facilities. The developing nations have contributed a small share as a result of lack of facilities.

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Regional Snapshots

North America dominated the digital diabetes management market due to the increasing penetration of smart consumer products and innovation in artificial intelligence -based services and introduction of internet of things, big data, machine learning, and robotics in many nations. A tremendous growth is predicted in the Asia-Pacific region during the forecast period till 2030 as a result of the various products launched and which also hints the introduction of the next-generation BGM systems in the area. In the Asia Pacific, the countries like China and India have a high prevalence rate of diabetes, which is primarily because of the growing population, urbanization, and changes in the lifestyle. The rising patients suffering with diabetes, increasing health awareness, growing knowledge about the devices, huge number of undiagnosed individuals, and the increasing utilization of smartphones and tablets have propelled the acceptance of digital diabetes management options in the Asia Pacific region.

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 19.2 Billion
Revenue Forecast by 2030 USD 90 Billion
CAGR 22.6% from 2022 to 2030
Base Year 2021
Forecast Year 2022 to 2030
Key Players Bayer AG, Medtronic, AgaMatrix, Roche Diagnostics, Dexcom Inc. LifeScan Inc., One Drop, Abbott Laboratories, Ascensia Diabetes Care, ACON Laboratories, ARKRAY Inc, Insulet Corporation

Report highlights

  • By product, the smart insulin pump segment is expected to have the highest growth during the forecast period. Due to the launch of the Bluetooth enabled insulin pumps the market is expected to grow. These Bluetooth enabled insulin pumps provide access to data on the mobile phones.
  • By type, the one diabetic patient segment will have a larger market share during the forecast period. The type one diabetic patients are highly dependent on the insulin. This is expected to create demand for the digital technologies.
  • The hospital segment had the largest revenue in the recent years standard is expected to dominate the market during the forecast period. Digital technologies are used in remote patient monitoring. The integration of advanced software in the settings allows easy data management of these patients.
  • By region, the European market is expected to have the largest market share during the forecast period. The presence of large number of competitors in this region and the introduction of good reimbursement rules and policies are expected to create a great demand in this market. Due to the province of diabetes in Germany, France, Italy and Spain the market is expected to witness a significant demand.

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Drivers

The increasing prevalence of diabetes is expected to help in increasing the demand for digital diabetes management devices and related services, which will also help in increasing the demand for the market. Diabetes is the main cause of death with 30% of loss of life expectancy due to the diagnosis of diabetes in majority of population

Restraints

The lack of the digital diabetes management devices in the developing nations and the lack of good reimbursement policies in the developing Nations is estimated to be the major drawback in the growth of this market and the lack of awareness of the advanced technology in the rural regions is also proving to be restraining factor for the growth of this digital diabetes management market.

Opportunities

The adoption of digital technologies offers the developers extraordinary opportunities to customize the care that diabetics receive and may help in reducing the need for conventional face-to face interactions. For instance, while patients with Type 2 diabetes may or may not need, or are less motivated, to use the latest CGM technology or the insulin pumps, there are many opportunities to increase the usage of digital tech for the local management of the patients.

Challenges

Improper protocols regarding the safety of information regarding patients is a major challenge faced by the market. Data safety is extremely important to maintain integrity and confidentiality in all the operations. Due to inappropriate flow of information and commands will certainly compromise the function of digital diabetes devices at use and it may put patients or users of these devices at the risk of other health problems

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Recent Developments

  • Dexcom ONE device was launched by Dexcom in April 2022. The company launched this new device for continuous Glucose Monitoring System in the UK.
  • In October 2021, LifeScan, Inc. (US) launched OneTouch Solutions which offers a holistic digital health platform which was able to link people with diabetes to solutions and support from medical experts.
  • In September 2020, which is based in switzerland had A remote patient monitoring solution was launched by Roche Diagnostics, which is an advanced feature of the RocheDiabetes Care Platform and makes use of the pattern detection methodology.

Market Segmentation

By Product

  • Devices
    • Smart Glucose Meters
    • Continuous Glucose Monitoring (CGM) Systems
    • Smart Insulin Pens
    • Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches
  • Application
    • Diabetes & Blood Glucose Tracking Apps
    • Obesity & Diet Management Apps
  • Data Management Software & Platforms
  • Services
    • Apps
    • Software

By Device Type

  • Handheld Devices
  • Wearable Devices

By Patient Type

  • Type 1
  • Type 2

By App

  • Digital Diabetes Management Apps
  • Weight & Diet Management Apps

By End-Use

  • Hospitals
  • Home Settings
  • Diagnostic Centers & Clinics

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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