Enjoy complimentary customisation on priority with our Enterprise License!
The global digital diabetes management market size is estimated to grow by USD 19.12 billion at a CAGR of 21.99% between 2023 and 2028. The digital diabetes market refers to the use of technology and digital tools in managing and monitoring diabetes. Diabetes, a chronic condition, arises when the body struggles to utilize insulin effectively or when the pancreas fails to produce adequate insulin. Elevated blood sugar levels, known as hyperglycemia, pose significant risks and can lead to severe complications if left unmanaged. The growing popularity of digital diabetes management stands as a key driver fueling market growth. Digital diabetes management can be enhanced by integrating automatic pill dispensing systems, ensuring timely medication and improving patient adherence. As diabetes prevalence escalates globally, there is an increasing demand for effective management solutions to improve patient outcomes and mitigate healthcare expenses. Digital diabetes management encompasses the utilization of technological tools such as wearables, smartphone applications, and cloud-based platforms for monitoring and managing diabetes effectively.
To learn more about this report, Request Free Sample
The market is witnessing significant growth driven by advancements in technology and increasing demand for innovative solutions. Cloud-based enterprise solutions and artificial intelligence (AI) technologies are revolutionizing diabetes care by leveraging big data analytics and machine learning algorithms to provide personalized insights and predictions for patients. Smart insulin pens and wearable medical devices enable convenient insulin monitoring and blood glucose monitoring systems, empowering patients to manage their condition effectively. Healthcare providers benefit from AI-driven solutions that offer exercise guidance and closed-loop pumps, enhancing treatment outcomes and patient care. With a growing geriatric population, the demand continues to rise, highlighting the importance of technological innovation in improving the lives of diabetes patients.
The market share growth by the hospitals segment will be significant during the forecast period. The hospital segment of the market refers to the use of digital tools and technology to manage and treat diabetes in a hospital setting. This segment includes various digital solutions such as mobile applications, online platforms, electronic health records (EHRs), medical devices, and telehealth services that are used by healthcare professionals and patients to manage diabetes.
Get a glance at the market contribution of various segments View a PDF Sample
The hospitals segment was valued at USD 1.77 billion in 2018. Some of the key aspects of the hospital segment in the market include remote patient monitoring, diabetes education, and self-management, electronic health records (EHRs), telehealth services, medical device integration, data analytics, and decision support. By adopting digital tools and technologies, hospitals can provide more personalized care, improve access to healthcare services, and empower patients to actively participate in their diabetes management, which will drive the growth of the market during the forecast period.
Wearable devices for diabetics include continuous glucose monitoring (CGM) systems and insulin pumps, which help to manage their blood sugar levels much more effectively and easily. Wearable devices were originally developed for people with type 1 diabetes, but technological advances have expanded their use in type 2 diabetics. Moreover, growth in the number of regulatory approvals for CGM systems and the development of advanced wearable products such as closed-loop pump systems and smart insulin patches will further enhance the growth of the wearable devices segment of the market during the forecast period.
For more insights about the market share of various regions View PDF Sample now!
North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. With the increasing incidence in the region, there is a high demand for innovative solutions to manage and monitor this disease. Additionally, the region's demand for telemedicine platforms and remote patient monitoring devices is driven by the need for remote monitoring and virtual consultations.
Furthermore, favorable government programs and regulatory frameworks are also fostering market growth. North America is home to a number of significant market participants, such as Medtronic, Dexcom, Abbott Laboratories, Insulet Corporation, and Livongo Health. Due to factors like the increased prevalence, rising acceptance of digital health technology, and supportive government initiatives, the market is expanding significantly which will drive market growth during the forecast period.
Buy Now Full Report and Discover More
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories: The company offers digital diabetes management product namely FreeStyle Libre.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is driven by a surge in demand for innovative solutions to enhance diabetes care solutions. Cloud-based enterprise solutions leverage big data analytics and AI technology to offer personalized management. Smart insulin pen segment and wearable medical devices enable real-time monitoring of glucose levels, while machine learning algorithms facilitate diabetes prediction and exercise guidance. However, challenges persist, including data privacy concerns and accessibility issues for the geriatric population. Overcoming these challenges while capitalizing on emerging trends in AI-driven diabetes management remains critical for healthcare providers to effectively address the needs of patients. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The rising global burden of diabetes is the key factor driving market growth. Its a chronic disease that occurs when the body cannot use insulin effectively or when the pancreas does not produce enough insulin. High blood sugar or increased blood sugar can lead to serious damage or complications, which can be life-threatening if not treated. The global prevalence of the disease is increasing rapidly. It is projected that the number of diabetic patients will double in the next 25 years.
Furthermore, countries with a higher population base, such as China and India, are likely to have a higher incidence of diabetes due to increased obesity and urbanization factors. Thus, the increasing incidence of diabetes is likely to increase the adoption of systems, which is expected to drive market growth during the forecast period.
The rising adoption of wearable devices is the primary trend shaping market growth. Smartwatches, fitness trackers, and wearable blood glucose monitors are just a few examples of devices with sensors that can track and monitor many health parameters related to diabetes. Wearable technology makes it simple for diabetics to track their physical activity levels, check their blood sugar levels, and get real-time With features like built-in insulin pumps, continuous glucose monitoring, and data communication to smartphone apps and cloud platforms, these devices are likewise growing more sophisticated.
In addition, there are many benefits to using wearable technology to treat. It encourages self-management by giving patients the tools they need to manage their own health. Moreover. continuous monitoring, data connectivity, and individualized treatment plans provided by wearable devices help patients have better health outcomes and a higher quality of life. The upgrade of wearable devices will drive the growth of the global market during the forecast period.
The stringent regulatory framework is a challenge that affects market growth. Players offering advanced digital diabetes management devices must comply with strict regulations before they launch in the market. The US FDA has classified diabetes care management devices such as smart insulin pumps, infusion sets, and insulin boluses as Class II.
Moreover, failing to adhere to the US FDA regulations or causing complications would lead to the product's recall. A product recall will significantly affect the company's brand name. The players focusing on adopting innovative technologies and designing novel products should undergo stringent postmarket approvals before their launch. Therefore, the stringent regulatory scenario may impede the growth of the market during the forecast period.
Buy Now Full Report and Discover More
The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is evolving rapidly with the introduction of innovative solutions aimed at enhancing patient care and management. Smart Insulin Pen segments and Smart Glucose Meters offer advanced functionalities, enabling precise insulin dosing and accurate blood glucose monitoring. Digital Diabetes Management Apps and Data Management Software empower patients to track their glucose levels, lifestyle patterns, and insulin delivery devices seamlessly. Activity monitors and wearable insulin patches provide valuable insights into patient health, while Automated Insulin Delivery systems utilize insulin dosing algorithms to optimize treatment outcomes. With the rising prevalence worldwide, the adoption of digital technologies in diabetes care is crucial for improving patient outcomes and streamlining patient visits through remote monitoring and personalized interventions.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.99% |
Market Growth 2024-2028 |
USD 19.12 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
21.14 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 46% |
Key countries |
US, Germany, France, UK, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, B.Braun SE, Becton Dickinson and Co., DarioHealth Corp., Dassault Systemes SE, decide Clinical Software GmbH, Dexcom Inc., F. Hoffmann La Roche Ltd., Glooko Inc., GlucoMe Ltd., Informed Data Systems Inc. and One Drop., Insulet Corp., LifeScan IP Holdings LLC, Medtronic Plc, Orpyx Medical Technologies Inc., PHC Holdings Corp., Sharecare Inc., SOCIALDIABETES SL, Tandem Diabetes Care Inc., and WaveForm Technologies Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.