Digital Diabetes Management Market is expected to grow at high rate with growing CAGR of 23.9%

Global Digital Diabetes Management Market is witnessing a high CAGR growth of 23.9 % and is expected to reach USD 30.7 Bn by 2027.

The Global Digital Diabetes Management Market is growing significantly due to the growing purpose for close diabetes monitoring that helps to reduce the risk of heart diseases and rising concern associated with self-insulin dose monitoring. Moreover, rising number of mobile apps for the diabetes management are expected to propel the growth for the digital diabetes management demand during the forecast period. For instance, currently there are more than 1000 iOS and android specific diabetes apps that are available on the google play store and Apple App Store. These apps target healthcare professionals and diabetic patients across the globe. Rising number of apps and awareness regarding available digital diabetes care apps are expected to create opportunity for emerging players to position their offerings in the digital diabetes management market.

Furthermore, rising applications of digital diabetic care software/apps in regular dose monitoring, frequent blood sugar level checkups and strict diet management is expected to fuel the growth of the digital diabetes management demand in the market during the forecast period. However, reluctancy for developing trust on digital data by the population and growing complications related to healthcare data security is expected to hinder the growth of the digital diabetes management demand in the market during the forecast period.

In 2018, World Health Organization published a report stating the “Classification of digital health interventions v1.0” that aims to provide governments, clinicians, researchers, technologists, and other communities of digital health for assessing various digital health interventions. The report also states the challenges that the endocrinologist faces such as losing of clients to follow-ups which is expected to be addressed by sending alerts and reminders which is categorized under “client communication system”. Such resources are expected to build the framework to underpin the future digital developments in the digital health technology. Such guidelines are expected to create the opportunity for med-tech companies for the development of software and apps for digital diabetes management during the forecast period.

Covid-19 pandemic has partially affected the growth of the digital diabetes management market. People with diabetes need continuous monitoring and timely interventions to enhance self-care management wherein covid-19 pandemic has resulted into limited access to the healthcare facilities including physicians. This led to disruptive supply of diabetes management supplies during the pandemic. Diabetes has prompt impact on covid-19 that increases mortality associated with respiratory distress syndrome. Management of such situation without frequent patient visits in the hospital is expected to fuel the growth of digital diabetes management demand during the forecast period.

Global Digital Diabetes Management Market by Region Outlook (Revenue, USD Million, 2021-2027)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Based on region, Asia-Pacific market is expected to witness the highest growth during the forecast period due rise in number of diabetics patients and penetration of new start-ups in the digital diabetes management market. Moreover, growing burden of diabetes in the Asian countries such as India & China and increasing awareness about prevention of diabetes contribute to the highest growth of digital diabetes management demand in the market during the forecast period. For instance, China holds highest number of diabetics across the globe i.e., ~116 Mn people are suffering from the disease. Such increasing diabetic population is expected to propel the growth of digital diabetes management demand during the forecast period.

The Global Digital Diabetes Management Market Segmentation:

Global Digital Diabetes Management Market by Product & Service Type Outlook (Revenue, USD Million, 2021-2027)

• Devices
  • Smart Insulin Pens
  • Smart Insulin Pumps
  • Continuous Glucose Monitoring System
  • Smart Glucose Meters
  • Others

•  Applications
  • Obesity & Diet Management Apps
  • Diabetes & Blood Glucose Tracking Apps

• Data Management Software & Platforms
• Services

Global Digital Diabetes Management Market by Device Outlook (Revenue, USD Million, 2021-2027)

• Wearable Devices
• Handheld Devices

Global Digital Diabetes Management Market by End User Outlook (Revenue, USD Million, 2021-2027)

• Self/Home Healthcare
• Academic & Research Institutes
• Hospitals & Specialty Diabetes Clinics

Key Findings:

• Based on product and service, devices segment held the largest market share in 2020 due to increased adoption of diabetes monitoring medical devices
• Based on device, handheld devices are expected to observe the highest growth during the forecast period
• Based on end user, hospital & specialty diabetes clinics is expected to dominate the market during the forecast period
• Based on region, North America is expected to hold the largest market share during the forecast period. On the contrary, Asia- Pacific is expected to hold the highest market growth during the forecast period

Company Profiles and Competitive Intelligence

The key players operating in the digital diabetes management market are:

• Medtronic
• Abbott Laboratories
• B. Braun
• Dexcom
• Roche Diagnostics
• Tidepool
• Insulet Corporation
• Tandem Diabetes Care
• Novo Nordisk A/S
• Ascensia Diabetes Care
• LifeScan
• AgaMatrix
• Glooko Inc.
• DarioHealth
• ACON Laboratories, Inc.,
• Bayer AG
• Becton, Dickinson and Company
• Johnson and Johnson
• Terumo corporation
• Insulet Corporation
• LifeScan

Recent News:  

• In March 2021, Terumo Corporation (Tokyo, Japan) and Glooko (US) announced technology partnership to deliver new diabetes data solution across the globe. This partnership is expected to provide integration of data from Terumo’s diabetes care devices which is blood glucose meter named MEDISAFE Fit Smile™ and MEDISAFE WITH™ insulin patch pump into Glooko’s diasend® diabetes data management platform. This collaboration is expected to provide a digital platform to healthcare professionals, and this would provide a platform for Terumo to commercialize their services with respect to digital diabetes management. 
• In October 2021, Roche (Switzerland) and Zur Rose Group (Switzerland) collaborated to offer healthy journeys for diabetic patients. This collaboration is expected to enhance everyday therapy management and is expected to address the need of ~60 Mn people living in Europe with diabetes. This collaboration is expected to empower diabetes to self-monitoring for better quality of life.