Digital Diabetes Management Market size to exceed $86.4bn by 2030

Digital Diabetes Management Market size to set to surpass USD 86.4 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Increasing use of wearable technologies in diabetes preventive care is benefiting the adoption of digital diabetes management devices. Preference for smart devices among diabetic patients allowing real time monitoring and decision making depending on results will continue to drive the market expansion. The product preference is attributable to user-friendly nature of these devices and convenience in use without affecting individuals’ daily activities.
 

Moreover, introduction of diabetes awareness campaigns by several governments is contributing to the market growth. Media campaigns by these organizations for diabetes care and prevention lead to increasing awareness regarding available technologies in the business.
 

The industry leaders operating in digital diabetes management are continuously focusing on product innovations and are introducing technologically advanced products in the market. As digital diabetes management devices are becoming more integral part in disease management for better results, it presents numerous opportunities for innovative products in the industry.
 

The digital diabetes management market growth was attributable to increasing preference for digital technologies for disease management among diabetes patients at a high risk of COVID-19. As individuals with pre-existing diabetes were expected to highly vulnerable to COVID-19 infections, the healthcare professionals recommended continued management of blood glucose level to reduce complications. The pandemic created need to assess the feasibility of various digital devices across the hospitals to reserve hospital staff for COVID-19 and effectively manage patients with other diseases.
 

Launch of smart insulin pumps with connected technology will boost the market revenue

Digital diabetes management market from smart insulin pump segment is anticipated to progress at 22.6% CAGR during the analysis period. This is attributable to technology breakthroughs and a strong product pipeline. With launch of tubeless Bluetooth enabled insulin pumps that allows data access on mobile phone, the segment is predicted to grow rapidly. For instance, the Omnipod DASH Insulin Management System is a tubeless, discreet, wearable insulin pump that can holds up insulin and delivers therapy to the patient.
 

Browse key industry insights spread across 213 pages with 344 market data tables & 15 figures & charts from the report, “Digital Diabetes Management Market Analysis By Product Type ({Devices [Smart Blood Glucose Meters, Smart CGM, Smart Insulin Pumps & Patches, Smart Insulin Pens], Device Type [Wearable, Handheld]}, Services {Diabetes Apps, Software}), Patient Type (Type 1, Type 2), End-Use  (Hospitals, Home settings, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/digital-diabetes-management-market
 

Preference for digital devices among type 1 diabetic patients will strengthen the industry growth potential

Increasing adoption of connected devices and related technologies among type 1 diabetic patients will benefit the segment value. Need for glucose level and insulin dosage monitoring, as type 1 diabetic patients are highly dependent on insulin will spur the demand for digital technologies among patients. Thus, the growing use of nutrition apps, glucose monitoring apps, insulin titration apps and insulin delivery apps will foster the business landscape.
 

Increasing patient visits will influence the adoption of digital diabetes management products in hospitals

Digital diabetes management market from hospitals segment accounted for 37.5% revenue share in 2021 and is projected to witness considerable CAGR during the forecast timeframe. Increasing usage of digital technologies in remote patient monitoring with rising of patients visits by professionals will drive the product adoption. Integration of advanced software in settings allows easy data management of diabetic patients, thereby offering enhanced patient care.
 

Rising prevalence of diabetes coupled with awareness of digital technologies is likely to impel the Europe market statistics

Europe digital diabetes management market was accounted for over 28% business share in 2021 and is estimated to grow at considerable rate during the analysis period. In addition, the presence of large competitors in the region, new product releases, and the introduction of better reimbursement rules are predicted to fuel the regional market progression. Further, major countries in the Europe with a high incidence of diabetes including Germany, UK, France, Italy, and Spain will witness significant demand for products.
 

Product development activities by market players will strengthen their business development potential

Some of the notable players operating in the digital diabetes management industry include Abbott, Medtronic Plc, Abbott Laboratories, F.Hoffmann-LA Roche Ltd, Dexcom, Inc, Senseonics, Insulet Corporation, Tandem Diabetes, Ypsomed,  Ascensia Diabetes Care Holdings Ag, Tidepool, Glooko, Inc., DarioHealth Corporation, Novo Nordisk, Pendiq and Emperra GmbH E-Health Technologies. These players are involved in mergers & acquisitions, licensing & partnership, and technological collaborations to maintain their position in the market.
 

For instance, in January 2021, Abbott Laboratories announced the launch of FreeStyle Libre system in India. Such product launches expand the company’s geographic reach, thereby influencing the revenue of digital diabetes management products.