Digital Diabetes Management Market Analysis

Digital Diabetes Management Market Analysis

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Based on product, Digital diabetes management market share from the services segment will grow at over 18.5% CAGR from 2023 to 2032. Rapid advancements in diabetes management apps and software will present new pathways for segment growth. Some diabetes management apps can now integrate fitness trackers and wearable medical devices, such as smartwatches and activity monitors. This integration allows individuals to track their physical activity levels, monitor their heart rate, and estimate the impact of exercise on their blood sugar levels.

With respect to end-use, the digital diabetes management market size from the hospitals segment reached over USD 7 billion in 2022. Growing usage of digital technologies for remote patient monitoring in hospitals will contribute to segment growth. Moreover, the high availability of advanced digital diabetes management tools, such as insulin delivery devices, has increased patient visits to these facilities. Many governments across the globe also granted approval for a few digital diabetes management products in hospitals during COVID-19, thereby augmenting segment gains.

On the regional front, North America digital diabetes management market will grow at over 19% CAGR between 2023 and 2032. Growing prevalence of diabetes has increased the need for diabetes care devices in the region. Supportive government initiatives for the treatment of the disease are creating a favorable growth outlook for the regional industry. In fact, in November 2021, the government of Canada and partners announced an investment of USD 20 million in new diabetes research teams for the treatment of people living with diabetes.