Digital Diabetes Management Market Growth & Trends
The global digital diabetes management market size is expected to reach USD 21.90 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.0% from 2022 to 2030. Major factors contributing to the market growth are the growing incidences of diabetes globally, the increasing number of product launches, and innovation in technologies such as predictive analytics and artificial intelligence (AI).
Data analytics and artificial intelligence are now an integral part of digital solutions for diabetics. AI is gaining rapid attention due to its ability to harness massive volumes of patient information. Digital diabetes management tools help patients analyze their glucose levels and pattern. They also help patients decide on food intake and dosage of insulin. The number of smartphone apps for disease management has seen a monumental rise over the past few years, giving the market a major boost. For instance, in September 2019, Abbott entered into a non-exclusive partnership with Sanofi to integrate cloud-connected insulin pens (Sanofi) with FreeStyle Libre mobile application (Abbott) to ease the management process of diabetes.
The market growth is further augmented by the increasing prevalence of obesity, the growing aging population, and increasing awareness regarding diabetes preventive care. Moreover, the market is driven by the increasing number of active users of smart devices and the launch of new apps that allow patients to monitor their blood glucose. These apps use advanced technology for health care professionals and provide patients with better health outcomes. In May 2019, Roche Diabetes Care India introduced its Integrated Diabetes Management Solution (IDMS) program in India with the launch of the Accu-Chek Instant blood glucose monitoring (BGM) system and the My Sugar app. The combination marks the entry of the next-generation BGM system. This is expected to propel the demand for the product, thereby driving the overall market in the country.
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Digital Diabetes Management Market Report Highlights
Based on product, the continuous blood glucose monitoring segment dominated the market in 2021, accounting for a revenue share of over 40.0%
The smart insulin pens product segment will expand at the fastest CAGR of 11.2% during the forecast period
By type, the wearable devices segment held the largest revenue share in 2021 and is likely to emerge as the fastest-growing segment during the forecast period
In the apps product segment, digital diabetes management apps accounted for the largest revenue share in 2021. Weight and diet management apps are projected to exhibit the fastest growth rate during the forecast period
North America held the dominant revenue share in 2021 and is expected to maintain its dominance during the forecast period owing to favorable reimbursement policies, the presence of key players, and supportive government initiatives
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