The size of the global digital diabetes management market is forecast to grow at a CAGR of 23.32% over the forecast period, reaching 15.97 USD billion in 2024 from USD 5.6 billion in 2019. The North American region held the largest market share in 2019 due to increased awareness and government encouragements. The Asia Pacific digital diabetes management market to grow at the fastest rate, while the European market has the next most significant share.
Diabetes is a rare chronic ailment, and as indicated by the International Diabetes Federation influences around 425 million individuals around the world. It is there only logical for the introduction of digital health organizations to oversee further and control their illness, apart from traditional methods.
Growing prevalence of diabetes is the primary growth driver for the market growth
Globally, the digital diabetes management market is mainly driven by the increasing number of diabetic patients across the world. According to IDF (International Diabetes Federation), there were 463 million patients diagnosed with diabetes and this figure is estimated to increase 700 million by 2045.
Additionally, rising awareness over the treatment procedures among individuals in most of the areas, the growing prevalence for the point of care testing devices that are accurate and convenient for the users are fuelling the market. The ever increasing geriatric population base along with the rapid shift towards digitization and digital solutions for medical problems are definite plus point driving the market growth.
Furthermore, the increase in the budgets being allotted for diabetic healthcare expenditure in emerging economies, rise in the support from the public and private organizations in developing various products in favour of the end-users are likely to surge growth opportunities for the digital diabetes management market. The trend towards the adoption of advanced technologies and the growing geriatric population around the world are also significant factors influencing the growth of the market significantly.
However, the high cost of these digital devices and the lack of reimbursed healthcare policies in developing countries are the major restraints. Lack of proper knowledge over the advanced technologies in rural areas is slowly restraining the demand of the business. Also, less number of skilled technicians in resolving the issues quickly in real-time applications is hampering the need for digital diabetes management.
Market Size Available
By Type, Products & Services, End-User and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the Global Digital Diabetes Management Market has been segmented and sub-segmented based on type, products & services, end-user and region.
Digital Diabetes Management Market - By Type
Based on type, the Wearable devices segment is leading with the highest shares of the market. Rising demand for the use of convenient devices and also highly reliable devices are lavishing the need for digital diabetes management.
Digital Diabetes Management Market - By Product and Service
Based on devices, the smart glucose meters segment is levelling up the growth rate of the market.
Based on applications, diabetes & blood glucose tracking apps category is dominating with the most significant shares of the market. The rise in the concern towards health care is escalating the demand of the market.
Digital Diabetes Management Market - By End-User
Based on end-user, the Individual/home healthcare divisions segment is leading to dominant shares of the market. Increasing prevalence for the self-medication is leveraging the demand of the market.
North America witnessed dominating shares of the global digital diabetes management market. Increasing capital income in both developed and developing countries is fueling the demand for the regional market.
The Asia Pacific is positioned second in leading the highest shares of the market. Rising populations and the emergence of the latest technologies in the medical sector are escalating the growth of the market. Growing support from the government by changing policies in favour of the ordinary people is gearing up the demand of the market.
Europe is accounted to be having the fastest growth rate. It is estimated to hit the highest CAGR in the coming years with the increasing number of research institutes to develop new devices is broadening the demand of this market.
The Middle East and Africa are deemed to have substantial growth opportunities in the coming years.
TOP COMPANIES IN THE MARKET
Leading companies operating in the Global Digital Diabetes Management market are Medtronic (Ireland), B. Braun (Germany), Dexcom (United States), Abbott Laboratories (United States), Roche Diagnostics (Switzerland), Insulet Corporation (United States), Tandem Diabetes Care (United States), Ascensia Diabetes Care (Switzerland), LifeScan (United States), Tidepool (United States), AgaMatrix (United States), Glooko Inc. (United States), and DarioHealth (Israel).
Key highlights of the research report:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.1 Wearable Devices
5.1.2 Handheld Devices
5.1.3 Y-o-Y Growth Analysis, By Type
5.1.4 Market Attractiveness Analysis, By Type
5.1.5 Market Share Analysis, By Type
5.2 Product and Services
5.2.1 Smart Glucose Meters
5.2.2 Continuous Glucose Monitoring Systems
5.2.3 Smart Insulin Pens
5.2.4 Smart Insulin Pumps
5.2.5 Digital Diabetes Management Apps
5.2.6 Diabetes and Blood Glucose Tracking Apps
5.2.7 Weight and Diet Management Apps
5.2.8 Data Management Software and Platforms
5.2.9 Other Services
5.2.10 Y-o-Y Growth Analysis, By Product and Service
5.2.11 Market Attractiveness Analysis, By Product and Service
5.2.12 Market Share Analysis, By Product and Service
5.3.1 Individual/Home Healthcare
5.3.2 Hospitals and Specialty Diabetes Clinics
5.3.3 Academic and Research Institutes
5.3.5 Y-o-Y Growth Analysis, By End-User
5.3.6 Market Attractiveness Analysis, By End-User
5.3.7 Market Share Analysis, By End-User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Product and Service
220.127.116.11 By End-User
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Product and Service
188.8.131.52 By End-User
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Product and Service
22.214.171.124 By End-User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.3 Roche Diagnostics
8.4 Insulet Corporation
8.5 Tandem Diabetes Care
8.6 Ascensia Diabetes Care
8.10 Glooko Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures