Global Digital Diabetes Management Market by Product (Smart Insulin Pump, Smart Insulin Pen, CBGM, Smart Glucose Meter) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global digital diabetes management market was valued at USD 6.3 Billion in 2018. It is projected to grow at a compound annual rate (CAGR of 19.4%) between 2019 and 2026. The market's rapid growth is largely due to technological advances and innovations in this field. There are many apps that can be used to monitor blood sugar levels and have increased in number over the past few years.

The market is driven by a growing geriatric population, rising disease incidence and rising healthcare spending. The International Diabetes Federation estimates that approximately 425 million people had diabetes in 2017, and this number will rise to 629 million by 2045. Digital technology is constantly improving, and the market will witness many innovations in diabetes management.

Diabetes is on the rise worldwide due to unhealthy eating habits and rapidly changing lifestyles. Diabetes is also linked to obesity. WHO estimates that more than 650,000,000 people were overweight in 2016, and this number will continue to rise over the forecast period. With an increasing obesity rate and increasing awareness, the market for diet and weight management apps has great potential.

Diabetes is a medical condition in which the pancreas fails to produce insulin, leading to higher glucose levels. Diabetics are faced with many challenges every day, such as regular insulin administration and dietary restrictions. Digital technology is available anywhere, anytime. Patients can connect with their healthcare team to discuss their health concerns and share data. This creates a digital ecosystem of data-driven tools that can be used to connect patients with their care team and improve diabetes management.

Product Insights

The market can be divided by product into smart glucose monitor, continuous glucose monitoring systems smart insulin pens smart insulin pumps and smart glucose meter. The market share for continuous blood glucose monitoring systems was just under 40% in 2018. This is due to their compatibility and use of smart devices as display devices. They can be programmed to send patients custom alerts when certain glucose thresholds have been reached.

Smart insulin pen sales are expected to grow at a highest CAGR of 22.0% during the forecast period. This segment's high growth rate is mainly due to the increasing number of product launches within the digital healthcare sector and the introduction of artificial intelligence. To stay ahead of their competitors, many market players are focused on developing smart insulin pen. Companion Medical's InPen, launched December 2017 and FDA-approved, is the first solution to connect with smartphones.

App Insights

The market can be divided by apps into apps for digital diabetes management and apps to manage weight and diet. This segment accounted for the largest share of the market in 2018, and was valued at USD 173.0 millions that year. This segment's growth is largely due to the increasing popularity of these apps. These apps are used extensively by the elderly and allow for continuous glucose monitoring.

Due to the increasing awareness of diabetes and other chronic diseases, the weight and diet management segment holds a significant share of this market. These apps make use of advanced digital data analytics to enable healthcare professionals to offer the best possible care. This segment is driven by improved healthcare outcomes, lower error rates and decreasing healthcare costs. Over the forecast period, this segment will see a 22.0% CAGR.

Type Insights

The digital diabetes management market can be divided into two types based on their type: wearable and handheld. The largest market share was held by wearable devices, and this segment is expected to grow at a CAGR of 19.6% during the forecast period. Technological advancements have played a major role in the market's growth, including the advent of artificial intelligence, increasing adoption of self-administering insulin delivery device in diabetes management, as well as new products like closed-loop pumps systems and smart insulin patches.

In 2018, the handheld device segment represented a market share of more than 43.0% and is expected to continue growing over the forecast period. This can be attributed primarily to the new product launches in this sector. Insulet Corporation was approved by the FDA in June 2018 for its handheld dash device. This device allows remote updates to the software via Wi-Fi connectivity.

Regional Insights

The market can be divided geographically into North America and Latin America, Europe and Asia Pacific. In 2018, North America was the dominant market due to its increasing adoption of smart devices and innovations in AI-based services. The region is also in the next phase of digitization of concepts like Internet of Things, big-data, machine learning, robotics, and other digital technologies. These digital technologies will be a major driver of the regional market over the forecast period. Europe is expected to take a significant share of the market during the forecast period due to the presence of key players and the launch of new products.

New product launches and an increasing diabetes population will drive Asia Pacific to experience exponential growth in the future. Over 230 million people have diabetes at the moment, which accounts for 55.0% of global population. There are many product launches in the region. In May 2019, Roche Diabetes Care India launched its Integrated Diabetes Management Solution in India (IDMS). This program included Accu-Chek Instant blood sugar monitoring (BGM), and the My Sugar app. This combination marks the introduction of next-generation BGM system.

Market Share Insights & Key Companies

Abbott Laboratories, Medtronic plc, F. Hoffmann-La Roche Ltd, Bayer AG, Lifescan, Inc., Dexcom, Inc., Sanofi; Insulet Corporation, Ascensia diabetes Care Holdings AG, and B Braun Melsungen AG are some of the most prominent players. They are keen to adopt new technologies and introduce advanced products to improve their services and strengthen their market presence. Medtronic Plc and its technology partner IBM Watson Health launched the Sugar in June 2018. IQ smart diabetes assistant. This smart app is intended to improve diabetes management. The digital diabetes management market is dominated by the following players:

• Abbott Laboratories

• Medtronic plc

• F. Hoffmann-La Roche Ltd

• Bayer AG

• Lifescan, Inc.

• Dexcom, Inc.

• Sanofi

• Insulet Corporation

• Ascensia Diabetes Holdings Ag

• B Braun Melsungen AG

Up Market Research published a new report titled “Digital Diabetes Management Market research report which is segmented by Product (Smart Insulin Pump, Smart Insulin Pen, CBGM, Smart Glucose Meter), By Players/Companies B Braun Melsungen AG , Lifescan Inc, Insulet Corporation, Bayer AG, Abbott Laboratories, Dexcom Inc, Ascensia Diabetes Care Holdings Ag, Medtronic plc, Sanofi, F Hoffmann-La Roche Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Digital Diabetes Management Market Report Segments:

The market is segmented by Product (Smart Insulin Pump, Smart Insulin Pen, CBGM, Smart Glucose Meter).

Digital Diabetes Management Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Digital Diabetes Management Market

Overview of the regional outlook of the Digital Diabetes Management Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Digital Diabetes Management Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Digital Diabetes Management Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Smart Insulin Pump

                2. Smart Insulin Pen

                3. CBGM

                4. Smart Glucose Meter

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Digital Diabetes Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Digital Diabetes Management Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.