The Global Digital Diabetes Management Market Size accounted for USD 6.5 Billion in 2021 and is estimated to garner a market size of USD 39.9 Billion by 2030 rising at a CAGR of 22.4% from 2022 to 2030. The rising prevalence of diabetes is the primary factor driving the digital diabetes management market value. In addition, popular digital diabetes management market trends that are supporting market revenue include new technological advancements and innovations in the diabetes monitoring industry. Furthermore, the growing use of continuous blood glucose monitoring systems is expected to create numerous growth opportunities for the market in the coming years.
Digital Diabetes Managements Market Report Key Highlights
Diabetes management refers to dealing with short-term events such as high and low blood sugar for controlling over the long term such as getting to grips with understanding the condition. Management of diabetes involves more than keeping blood sugar levels under control coupled with learning about hypos and hyperglycemia. Diabetes is increasing at an alarming rate in the US. According to the statistics released by the Centers for Disease Control and Prevention it is estimated that cases of diabetes have risen to 34.2 million in 2020. Additionally, an estimated 26.8 million people, or 10.2% of the population had been diagnosed with diabetes. Approx. 7.3 million people have diabetes but have not yet been diagnosed since 2018.
Global Digital Diabetes Management Market Dynamics
Digital Diabetes Management Market Report Coverage
|Market||Digital Diabetes Management Market|
|Digital Diabetes Management Market Size 2021||USD 6.5 Billion|
|Digital Diabetes Management Market Forecast 2030||USD 39.9 Billion|
|Digital Diabetes Management Market CAGR During 2022 - 2030||22.4%|
|Digital Diabetes Management Market Analysis Period||2018 - 2030|
|Digital Diabetes Management Market Base Year||2021|
|Digital Diabetes Management Market Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Type, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Medtronic, B. Braun, Dexcom, Abbott Laboratories, Roche Diagnostics, Insulet Corporation, Tandem Diabetes Care, Ascensia Diabetes Care, LifeScan, Tidepool, AgaMatrix, Glooko Inc., and DarioHealth.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Digital Diabetes Management Market Insights
Rising prevalence of diabetes
According to the International Diabetes Federation (IDF), in 2019, approximately 463 million adults (20-79) years were living with diabetes, and it is predicted that by 2045 it will rise to 700 million. The proportion of people suffering from type 2 diabetes is increasing in most countries. 1 in 5 people aged 65 years or old have diabetes. Moreover, 1 in 2 (232 million) people with diabetes was undiagnosed. Therefore, the growing prevalence in the geriatric population allied with increasing population exposure to risk factors is expected to drive the demand for digital diabetes management solutions across major markets.
Rapidly changing lifestyles and unhealthy dietary habits contribute for the growth of digital diabetes management market
Currently, obesity is the leading cause of diabetes. According to the Indian Journal of Health Sciences and Biomedical Research, diabetes in India is the second largest cause across the world with currently over 72 million cases of diabetes in India. The reported prevalence of obesity in type 2 diabetes mellitus (T2DM) was 60-90%. Obesity and overweight pose major risks for chronic diseases and are considered to be a prominent risk factors for the development of T2DM. Over 72 million registered cases of diabetes in India, the World Health Organization (WHO) reported that obesity is one of the most common and also the most neglected, public health problems in both developed and developing countries. Moreover, obesity is the major contributor to the T2DM epidemic contributing to 88% of those suffering from T2DM considering overweight or obese.
Big calls for "Digitization"
Digital health technology, especially digital and health applications (apps) has gained significant prominence to assist people to manage diabetes. Numerous health-related apps incorporated on smartphones and other wireless devices support people with diabetes and provoked them to adopt either lifestyle interventions or medication adjustments in response to glucose monitoring. Apart from that, Canadian Diabetes Association, virtual care encompassed new forms of digital glucose monitoring such as first-of-its-kind flash glucose monitoring recently got introduced in Canada. The newly launched technology tracks blood sugar levels for up to 14 days, using a sensor worn on the back of the upper arm. A one second-scan of the sensor with a handheld reader or smartphone offers a real-time glucose reading and a complete picture of the user's recent blood sugar history.
Digital Diabetes Management Market Segmentation
The worldwide digital diabetes management market is split based on product, type, and geography.
Digital Diabetes Management Market By Product
According to our digital diabetes management industry analysis, the continuous blood glucose monitoring systems recorded 40% market share in 2021. Continuous glucose monitoring is a medical device specialized to track and monitor glucose levels in the blood. The system assists the patients to continuously track & monitor the fluctuations in the sugar level. Tracking the inclination of patients towards real-time health monitoring and availability of reliable frequent, and real time assistance are the major factors that bolster the continuous blood glucose monitoring systems segment.
Additionally, smart insulin pen segment is gaining a fast pace and is predicted to grow at the highest CAGR of 21.9% in the forecast period. Surge in product launches in the field of digital healthcare and introduction of artificial intelligence are the factors that contribute to the fullest for the segmental growth of smart insulin pen worldwide.
App segment recorded 21.8% CAGR for digital diabetes management market
The weight and diet management apps segments hold a considerable share in the global market due to rising awareness of chronic diseases such as diabetes and related complications. These apps use advanced digital data analytics technology that provides healthcare professionals (HCPs) offer satisfactory service to patients with the best solutions possible. Moreover, improved health outcomes, reduction of error rates and declining healthcare costs are the key factors that contribute for the growth of the apps segment globally
Digital Diabetes Management Market By Type
According to our digital diabetes management market forecast, wearable devices are expected to generate over 55% of the total market share from 2022 to 2030. The market's expansion is primarily due to technological advancements such as the introduction of artificial intelligence, the introduction of new products such as smart insulin patches and closed-loop pump systems, and the increasing use of self-insulin delivery devices in diabetes management. Hand-held devices on the other hand is likely to attain fastest growth rate during the projected timeframe from 2022 to 2030.
Digital Diabetes Management Market Regional Outlook
The Middle East & Africa (MEA)
North America recorded largest market share for global digital diabetes management
North America dominated the digital diabetes management market in 2018 and will continue its trend in the forthcoming years. Rising adoption of advanced technology supported by digitization such as the internet of things (IoT), machine learning, and robotics are the factors that upsurge regional growth. On the other hand, Asia Pacific is predicted to witness significant growth in the forecast period owing to new product launches as the region comprises a big pool of diabetes patients. Currently, over 230 million people are living with diabetes accounting for 54.8% of the global population. This strong resembled new product launches by the top market players. In May 2019, Roche Diabetes Care (RDC) India announced its latest Integrated Diabetes Management Solution (IDMS) with the launch of the “mySugr” app and “Accu-Chek Instant” blood glucose monitoring system that together forms the advanced connectivity and accuracy to assist the people with diabetes (PwDs) effortlessly manage blood sugar levels and spend more time in range.
Europe is projected to capture a considerable share over the forecast period due to its novel product launching and the presence of prominent players residing in the Europe region. This acts as one of the key factors that contribute fullest to the growth of the digital diabetes management market in the Europe regional market.
Digital Diabetes Management Market Players
The global digital diabetes management companies profiled in the report include Medtronic, B. Braun, Dexcom, Abbott Laboratories, Roche Diagnostics, Insulet Corporation, Tandem Diabetes Care, Ascensia Diabetes Care, LifeScan, Tidepool, AgaMatrix, Glooko Inc., and DarioHealth.
The market size of digital diabetes management market in 2021 was accounted to be USD 6.5 Billion.
The projected CAGR of digital diabetes management market during the analysis period of 2022 to 2030 is 22.4%.
The prominent players of the global digital diabetes management market are Medtronic, B. Braun, Dexcom, Abbott Laboratories, Roche Diagnostics, Insulet Corporation, Tandem Diabetes Care, Ascensia Diabetes Care, LifeScan, Tidepool, AgaMatrix, Glooko Inc., and DarioHealth.
North America held the dominating digital diabetes management during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for digital diabetes management during the analysis period of 2022 to 2030.
Rising prevalence of diabetes, and rapidly changing lifestyles and unhealthy dietary habits drives the growth of global digital diabetes management market.
Based on product, continuous blood glucose monitoring system segment is expected to hold the maximum share digital diabetes management market.