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The Global Digital Diabetes Management Market Size is valued at USD 18.11 billion in 2023 and is predicted to reach USD 49.48 billion by the year 2031 at an 13.58% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- New digital apps that use augmented and virtual reality to monitor blood glucose levels are driving the growth of the digital diabetes management industry.
- The increasing prevalence of diabetes has magnified the importance of the demand for improved diabetes care solutions.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The industry is expected to be constrained by a lack of knowledge about digital diabetes treatment in developing nations.
A collection of programs known as diabetes management software can assist patients and healthcare professionals track and monitor their diabetes. Diabetes management software is gaining popularity for various applications in the healthcare sector thanks to its multiple mobile and desktop apps, propelling growth in the diabetes management software market. To measure, monitor, and manage the degree of diabetes, diabetes management software is available for use on personal computers, mobile phones, tablets, and other digital assistants.
The market is expanding due to the adoption of diabetes awareness programs and other measures by various governments. These businesses' media efforts and initiatives for treating and preventing diabetes aid in raising public knowledge of the presence of multiple technologies in this industry. Diabetic patients have a high need for continuous blood glucose monitoring, which will significantly impact the growth of the global market over the forecast period. The market is estimated to face challenges in the future due to the growth in data security concerns and lower penetration in developing countries.
As there was a high risk of contracting COVID, the market for digital technologies for disease management among diabetes patients was growing. The product was created and planned to give patients a customized insight into how their blood sugar levels will respond to their diet, insulin dosage, and daily schedule. Therefore, the adoption and accessibility of such cutting-edge, rising, and unique technologies in the field of digital diabetes management would enhance market growth during the projection period.
Competitive Landscape
Some major key players in the Global Digital Diabetes Management Market:
- Medteronic (Ireland),
- Melsungen AG (Germany),
- Dexcom, Inc. (US),
- Abbott Laboratories (US),
- Hoffmann-La Roche (Switzerland),
- Insulet Corporation (US),
- Tandem Diabetes (US),
- Ascensia Diabetes Care Holdings AG (Switzerland)
- LifeScan Inc. (US)
- Tidepool (US),
- AGaMatrix (US),
- Glooko, Inc. (US),
- DarioHealth Coporation (Israel),
- One Drop (US),
- Dottli (Finland),
- Ypsomed Holding AG (Switzerland)
- ARKRAY (Japan),
- ACON Laboratories, Inc. (US),
- Care Innovaions, LLC (US),
- Health2Sync (Taiwan),
- Emperra GmbH E-Health Technologies (Germany),
- Azumio (US),
- Decide Clinical Software GmbH (Germnay)
- BeatO (India)
Market Segmentation:
The digital diabetes management market is divided into product & service, application, device type and end-use. Based on products & services, the market is segmented into devices (smart glucose meters, continuous glucose monitoring systems, and 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 and services. The digital diabetes management market is segmented based on the device type into handheld and wearable devices. Based on end-use, the digital diabetes management market is divided into self/home healthcare, hospitals & speciality diabetes clinics and academic & research institutes.
Based on end users, the self/home healthcare segment is a major contributor to the digital diabetes management market.
The market's leading segment is self/home healthcare. The devices available on the market have an intuitive user interface coupled with cutting-edge digital gadgets. Adoption of these devices is becoming more necessary as patient awareness of diabetes management rises. This market is anticipated to grow due to the devices' use in exchanging crucial information with professionals via digital platforms. The market is anticipated to become less active due to widespread access to professionals in home healthcare. Due to the conditions, there was a high demand for digital diabetes management tools in the home settings market during the pandemic. During the pandemic, this sector received a significant boost from people using mobile applications and other connected devices at home.
The continuous glucose monitoring segment witnessed growth at a rapid rate.
Continuous glucose monitoring grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time due to factors including ongoing technological development, rising product launches, greater incorporation of remote monitoring technologies into devices, rising availability of these gadgets, and increasing public awareness. Abbott established a freestyle libre system by enhancing its services in this industry. The use of this device will assist in tracking a patient's real-time blood glucose readings. Additionally, it gives a thorough picture of each person's glucose levels.
The North American digital diabetes management market holds a significant regional revenue share.
The North American digital diabetes management market is expected to register the highest market share. Numerous reasons, including the emphasis on ongoing technical breakthroughs, impending product launches with cutting-edge features, and the presence of significant market players in the North American region, have contributed to this region's success. The region's rising diabetic patient population provides growth prospects for the key market participants. Additionally, Asia Pacific is anticipated to increase quickly in the coming years. This market is expected to grow due to various factors, including an increase in the number of individuals with diabetes, growing healthcare costs, and an increasing number of market competitors in the area. It is also anticipated that rising disposable income and increased public knowledge of diabetes and other related health issues will promote the development of this industry.
Recent Developments:
- In May 2024, Dexcom has introduced the Dexcom ONE+ continuous glucose monitor (CGM) in the UK. ONE+ utilized Dexcom's preexisting sensor design, adding input from users and healthcare experts during the development process. The organization affirmed that this guaranteeed a user-friendly and exceptionally efficient continuous glucose monitoring (CGM) experience for individuals managing type 2 or type 1 diabetes with insulin.
Global Digital Diabetes Management Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 18.11 billion |
|
Revenue Forecast In 2031 |
USD 49.48 billion |
|
Growth Rate CAGR |
CAGR of 13.58% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Product and services, Type, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Medteronic (Ireland), B.Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes (US), Ascensia Diabetes Care Holdings AG (Switzerland) LifeScan Inc. (US) Tidepool (US), AGaMatrix (US), Glooko, Inc. (US), DarioHealth Coporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland) ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovaions, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Germnay) and BeatO (India) among others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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