Digital Diabetes Management Market Size By Product Type ({Devices [Smart Blood Glucose Meters, Smart CGM, Smart Insulin Pumps & Patches, Smart Insulin Pens], Device Type}, Services), Patient Type, End-Use & Global Forecast, 2022 - 2030

Industry Overview

Digital Diabetes Management Market size exceeded USD 15.5 billion in 2021 and is projected to grow at 20.6% CAGR between 2022 and 2030. Increasing number of diabetic patients across the globe will benefit the adoption of digital diabetes management products and services. For instance, as per the International Diabetes Federation (IDF), nearly 463 million people were living with diabetes, globally, in 2019. Need for continuous monitoring of blood glucose among these patients will highly impact the global market growth.
 

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Along with increasing disease burden, rising spending on diagnosis and treatment will positively impact the market statistics. The increasing awareness regarding diabetes management and home care will further contribute to the high cost of diagnosis, thereby stimulating the overall market growth. Patients suffering from diabetes are highly dependent on continuous monitoring tools and needs to seek timely treatment in case of fluctuations to avoid severe complications. Thus, technological transformation in disease management allowing management of diabetes with the help of digital devices allows tracking, monitoring, and sharing lifestyle data with concerned healthcare professionals. Therefore, growing adoption of novel technologies for such chronic disease management will impel the global digital diabetes management market demand.
 

The COVID-19 pandemic has positively impacted the digital diabetes management market growth with increasing demand for home care technologies. With emergence of COVID-19, several countries across the globe have rapidly arranged the digital services to ensure flawless diabetes care to the patients. The COVID-19 has brought a new urgency to assess the feasibility of various digital devices in hospitals. With increasing product adoption, the companies operating in the digital diabetes management industry have experienced higher product demand during the pandemic.
 

The digital diabetes management includes devices, services, and platform that helps patients in insulin management, glucose monitoring and diet management. Along with mentioned factors, digital diabetes management have been also used in other health relevant applications for effective management of diabetes mellitus.
 

Integration of data analytics and artificial intelligence in digital diabetes management devices will offer unprecedented industry growth opportunities

The advent of big data analytics and artificial intelligence is momentously transforming the field of digital diabetes management. The market is projected to foresee exponential growth while enabling better diabetes control with new efficient digital diabetes management technologies. The increasing use and growth in bigdata analytics will offer access to real time structured as well as large unstructured data to healthcare professionals and patients.
 

Further, the AI based digital diabetes management devices will assist in providing customized solution for hypoglycaemia control to the patients. The device was designed to provide customized insights to patients regarding response of glucose level according to their food intake, insulin dosage and daily routines. Thus, advent of such novel and booming technologies in the field of digital diabetes management will augment the market growth in the coming years.
 

Introduction of technologically advanced CGM devices will lead to escalated product demand

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Digital diabetes management market by product type is categorized into devices and services. The services segment is further classified into apps and software. The devices market is segmented into smart blood glucose meters, smart continuous glucose monitors, smart insulin pumps and smart insulin pens. Moreover, based on device type, devices are further sub-classified into handheld devices and wearables.
 

The smart CGM devices held majority of revenue share and is anticipated to proceed at 19.7% CAGR during the analysis timeframe. The segment growth is attributable to the continuous technological advancements, integration of remote monitoring technologies in devices, increasing product launches, expanding availability and awareness among patient population.
 

For instance, in November 2020, Abbott introduced its FreeStyle Libre system in India expanding its offerings in the market. The device allows real time monitoring of blood glucose readings and provides complete overview of individuals’ glucose level. Thus, the increasing availability of advanced continuous glucose monitoring devices with advent of novel technologies will drive the segment growth during the projection period.
 

Higher prevalence of type 2 diabetes will boost the demand for digital diabetes management products

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The digital diabetes management market by patient type is segmented into type 1 and type 2. The type 2 digital diabetes management segment dominated the market with over 90% revenue share in 2021. The dominance of this segment is owing to the presence of huge patient population base suffering from type 2 diabetes. For instance, as per the Centers for Disease Control and Prevention (CDC), among the total diagnosed diabetes cases, nearly 90% patients are type 2 in the U.S. The type 2 diabetes increases the risk of kidney failure, adult blindness, and lower limb amputation.
 

Further, the consumption of unhealthy diet and lack of physical activity contributes to the disease burden. Hence, higher prevalence rate will ultimately drive the demand for monitoring devices among patients. Thus, the abovementioned factors will boost the product demand among type 2 diabetic patients.
 

Increasing awareness regarding self-diabetes care will boost the product adoption in home settings

Digital diabetes management market by end-use is categorized into hospitals, home settings, diagnostics centers & clinics, and others. Home settings generated significant revenue in 2021 and is forecast to progress at 21.7% CAGR during the analysis timeframe. The increasing awareness regarding diabetes care, user friendly interface of advanced digital devices, ease of use at home, and convenience in sharing data through digital platforms with professionals will continue to boost the product adoption across the home settings in future. Furthermore, the emergence of COVID-19 has favoured the demand of digital diabetes management products with the use of connected devices and mobile applications at home during the pandemic.
 

Availability of advanced devices with increasing number of patients in the North America will propel the market statistics

North America digital diabetes management market held USD 5 billion revenue in 2021. The regional market growth is attributable to the presence of industry leaders, focus on continuous technological advancements and new product launches. Expanding patient population in the region presents growth opportunities to the market players. Along with high diabetes prevalence, introduction of favorable reimbursement policies will stimulate the regional market size. For instance, in September 2020, the FreeStyle Libre 2 CGM system of Abbott was covered under Medicare for better management of diabetes. Thus, the aforementioned factors will significantly drive the demand for digital diabetes management products in North America during the forecast period.
 

Strategic collaborations and product advancements will offer business development opportunities to the industry players

Some of the notable business players operating in the digital diabetes management industry include Abbott, Medtronic Plc, F.Hoffmann-LA Roche Ltd, Dexcom, Inc, Senseonics, Insulet Corporation, Tandem Diabetes, Ypsomed,  Ascensia Diabetes Care Holdings Ag, Tidepool, Glooko, Inc., DarioHealth Corporation, Novo Nordisk, Pendiq, and Emperra GmbH E-Health Technologies among several others. These players are continuously evolving their products and are involved in technological collaborations to gain larger customer base and attain competitive advantage.
 

Some of the recent industry developments:

• In November 2020, Ypsomed and Lilly collaborated to advance automated insulin delivery system. Under the collaboration Lilly commercialized a new version of insulin pump and CGM system that has positively impacted its business growth.
   
• In September 2020, Dexcom Inc., announced the launch of G6 CGM system in Turkey. The product launch has expanded its business reach in international market.
   
• In June 2020, Abbott Laboratories received the U.S. FDA approval for its CGM device, FreeStyle Libre 2. This approval helped the company in expanding their product portfolio, thereby strengthening company’s footprint in the market.
   

The digital diabetes management market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030 for the following segments:

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By Product Type                     

• By Device
  • By Device
    • Smart blood glucose meter
    • Smart CGM
    • Smart insulin pumps
    • Smart insulin pens
  • By Device Type
    • Handheld
    • Wearable
• Services
  • Apps
  • Software

By Patient Type

• Type 1
• Type 2

By End-use

• Hospitals
• Home Settings
• Diagnostic Centers & Clinics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Others
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Others
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Others