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The global digital diabetes management market is projected to reach USD 25.5 Billion by 2027 from an estimated USD 14.3 Billion in 2022, at a CAGR of 12.2%
during the forecast period. The rising prevalence of diabetes has increased the focus on the development and adoption of better solutions for diabetes care. Also, advancements in technologies have ensured the introduction of highly flexible solutions in the market.
New York, April 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Diabetes Management Market by Product, Device Type, End User - Global Forecast to 2027" - https://www.reportlinker.com/p05730155/?utm_source=GNW
The increasing adoption of cloud-based enterprise solutions and the growing use of connected devices and apps are some of the other major factors supporting market growth. However, factors such as the high device costs, lack of reimbursement in developing countries, and the higher acceptance of traditional diabetes management devices are expected to restrain the growth of this market during the forecast period.
Smart glucose meters segment accounted for the largest share in the Digital Diabetes Management market.
The devices segment is categorized into smart glucose meters, CGM systems, smart insulin pens, and smart insulin pumps/closed-loop systems & smart insulin patches. In 2021, the smart glucose meters segment accounted for a share of 25.2% of the digital diabetes management devices market. The growth of this segment is mainly attributed to the easy handling of smart glucose meters, as well as their benefits in the early detection of hypo and hyperglycemic diabetes. Technological innovations, such as all-in-one glucometers with analysis capabilities, Bluetooth-enabled glucometers, and portable pocket-size glucometers are some of the other factors driving the growth of this market segment.
Wearable devices segment to grow at the highest CAGR during the forecast period.
Various devices considered in the digital diabetes management devices market are categorized into handheld devices and wearable devices. Wearable devices accounted for the largest share of 60.3% of the digital diabetes management devices market in 2021. This segment is estimated to grow at the highest CAGR of 13.2% during the forecast period. The increasing number of regulatory approvals for wearables, technological advancements, and the growing adoption of smart insulin pumps and insulin patches are driving the growth of the wearables market.
The Self/home healthcare segment accounted for the largest share of Digital Diabetes Management market in 2021
The self/home healthcare segment accounted for the largest share of the digital diabetes management market in 2021.This is mainly attributed to the growing patient acceptability of home care due to the increasing awareness of digital diabetes management platforms.
Self-administration is especially useful for patients who require regular insulin therapy. For patients requiring long-term therapy, inpatient care is not only extremely expensive but also prevents them from resuming a normal lifestyle.
North America accounted for the largest share of the Digital Diabetes Management market in 2021
In 2021, North America accounted for the largest market share of 41.4%, followed by Europe with a share of 29.0%. North America dominates the digital diabetes management market, mainly due to the growing adoption of connected diabetes management devices, increasing adoption of diabetes management and obesity apps, growing demand for technologically advanced solutions, increased acceptance of digital diabetes solutions from payers, government initiatives to promote digital health, and rising awareness on self-diabetes management in the region.
A breakdown of the primary participants (supply-side) for the Digital Diabetes Management market referred to for this report is provided below:
• By Company Type: Tier 1–46%, Tier 2–33%, and Tier 3–21%
• By Designation: C-level–43%, Director Level–35%, and Others–22%
• By Region: North America–34%, Europe–26%, Asia Pacific–19%, Latin America- 11%, and Middle East and Africa– 10%
The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).
Research Coverage:
The market study covers the digital diabetes management market across various segments.It aims at estimating the market size and the growth potential of this market across different segments by product & service, by device type, end user, and 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.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the digital diabetes management market and its segments.This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies.
The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.
Read the full report: https://www.reportlinker.com/p05730155/?utm_source=GNW
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