According to the latest report by IMARC Group, titled “Digital Diabetes Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global digital diabetes management market size reached US$ 8.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2027, exhibiting a growth rate (CAGR) of 22.6% during 2022-2027.
What is digital diabetes management?
Digital diabetes management is an electronic medical solution that uses software-based applications and devices, such as insulin pens, smart glucose meters, closed-loop systems, sensors, and insulin patches. They are largely used for remote monitoring, management, and analysis of patients with diabetes.
Digital Diabetes Management Industry Overview:
Diabetes, a metabolic disorder, affects insulin production and leads to elevated blood sugar levels in the body. Digital diabetes management helps manage hyper/hypotension, cholesterol levels, and blood glucose and effectively track and maintain the record of the patients. As a result, they are witnessing a significant demand across at-home or self-care facilities, clinics, hospitals, and research institutes.
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Why is digital diabetes management becoming popular?
Increasing health consciousness among consumers and the rising product recognition among the masses are accelerating the market growth
The market is primarily driven by the rising prevalence of obesity and diabetes across the globe due to sedentary lifestyles, busy schedules, and genetic and environmental factors. Digital diabetes management devices, such as smart insulin pens, are gaining popularity among diabetic patients as they can record the dosage amount and transmit the related data to a cloud-based application to keep a record and use for future reference. In addition to this, key manufacturers are integrating connected devices with the Internet of Things (IoT), big data solutions, and artificial intelligence (AI) to introduce advanced solutions, which is creating a positive outlook for the market.
Digital Diabetes Management Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the digital diabetes management market has been studied in the report with the detailed profiles of the key players operating in the market.
Who are some of the Top Manufacture operating in the digital diabetes management devices and how high is the competition 2022?
- Abbott Laboratories (NYSE: ABT)
- ACON Laboratories Inc
- Ascensia Diabetes Care Holdings AG (PHC Holdings Corporation)
- Becton, Dickinson and Company (NYSE: BDX)
- Dexcom Inc. (NASDAQ: DXCM)
- Hoffmann-La Roche AG
- Medtronic plc (NYSE: MDT)
- Novo Nordisk A/S (NYSE: NVO)
- Tandem Diabetes Care Inc. (NASDAQ: TNDM)
- Terumo Corporation (OTCMKTS: TRUMY)
Key Market Segmentation:
The report has segmented the global digital diabetes management market on the basis of product type, device type and region.
Breakup by Product Type:
- Smart Glucose Meter
- Smart Insulin Pumps
- Smart Insulin Pens
- Apps
Breakup by Device Type:
- Handheld Devices
- Wearable Devices
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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