by Digital diabetes management products facilitate efficient insulin delivery and glucose monitoring without pricking the skin multiple times a day. Devices like glucose meters, insulin pumps, and continuous glucose monitoring systems help manage diabetes more effectively.
The global Digital Diabetes Management Market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of digital technologies that facilitate remote monitoring of glucose levels and insulin delivery is driving the growth of the digital diabetes management market. Devices such as smart insulin pens, insulin pumps, and continuous glucose monitoring systems integrated with apps can communicate the data to physicians, diabetes educators, and caregivers in real-time. This allows timely intervention and better management of diabetes. Furthermore, technologies like AI and machine learning are being used to develop intelligent algorithms within these devices to detect patterns and provide predictive insights about future glucose levels. This is expected to boost the efficiency and effectiveness of diabetes management over the forecast period.
SWOT Analysis
Strength: The digital diabetes management helps in remote monitoring of blood glucose levels and insulin dosage intake. This allows for better management of diabetes and timely consultation with healthcare providers.
Weakness: High upfront costs associated with digital diabetes devices, and lack of reimbursements especially in developing regions act as barrier for widespread adoption.
Opportunity: Growing acceptance of telehealth and remote patient monitoring post covid pandemic has opened doors for digital solutions. Launch of affordable devices by players also expands addressable market.
Threats: Data privacy and security concerns around sensitive health data being collected online. Technologies becoming outdated fast requiring frequent upgrades.
Key Takeaways
Global Digital Diabetes Management Market Size is expected to witness high growth. The market was valued at US$ 9.31 Bn in 2024 and is forecasted to reach US$ 15.83 Bn by 2030, registering a CAGR of 6.8% during the forecast period.
Regional analysis
North America dominates the global market currently due to advanced healthcare infrastructure and high acceptance of digital health solutions. However, Asia Pacific is expected to witness fastest growth during the forecast period supported by growing diabetes population, increasing healthcare spends and launch of affordable devices by players in the region.
Key players
Key players operating in the Digital Diabetes Management are Abbott Laboratories, Acon Laboratories, Inc., Bayer AG, F. Hoffmann-la Roche Ltd., Johnson and Johnson, Medtronic Plc, Novo Nordisk A/S, Terumo Corporation, Dexcom, Inc., and Becton, Dickinson and Company, among others. Abbott Laboratories leads the market with wide portfolio of devices that integrate with smartphone apps for remote monitoring.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
