Digital Diabetes Management Market Size By Product Type (Devices {Smart Glucose Meters, CGM, Insulin Pumps & Patches, Insulin Pens}, By Device Type [Wearable, Handheld], Services {Diabetes Apps, Software}), By Patient Type (Type 1, Type 2), By End-Use (Hospitals, Home Settings, Diagnostic Centers & Clinics) Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027

Industry trends

Digital Diabetes Management Market size exceeded USD 13 billion in 2020 and is projected to grow at more than 18.8% CAGR between 2021 and 2027. Rising diabetic population pool coupled with increasing awareness about digital diabetes devices will drive the market growth. Moreover, increasing adoption rate of technologically advanced products will boost the market demand.
 

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The rising cost of diabetes and increasing awareness about diabetes preventive care are the major factors contributing to the overall market revenue. Diabetic people are highly dependent on technology to monitor and manage as well as to seek timely treatment. Thus, technological transformation allows diabetes patients to manage their health with digital devices to track, monitor, and share lifestyle data with healthcare professionals. Increasing usage of mobile applications and wearable activity tracker devices are continuously improving patient’s health and helps in the management of diabetes.
 

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Advent of artificial intelligence and big data analytics in diabetes space

The advent of artificial intelligence and big data analytics is transforming the field of digital diabetes. The digital diabetes management market is expected to witness exponential growth and will enable millions of people to achieve better diabetes control. The growth in bigdata analytics will provide access to large unstructured and real time structured data to both patients and healthcare professionals. The AI based digital diabetes devices will allow patients to receive customized solution for hypoglycaemia control.
 

Increasing number of product launches and rising awareness about diabetes preventive care

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The CGM devices segment is expected to witness growth of 18.8% during the forecast period impelled by increasing technological collaborations coupled with increasing number of product launches. For instance, in November 2020, Abbott launched FreeStyle Libre system in India. The device provides real time glucose reading on demand and complete overview of person’s glucose level.
 

Increasing awareness about self-diabetes preventive care will boost the demand for diabetes devices in homecare settings

Homecare settings segment is predicted to expand at 19.1% CAGR through 2027 owing to the increasing awareness about diabetes preventive care. Moreover, user friendly interface of these advanced digital diabetes devices will continue to boost the product demand in homecare settings.
 

COVID-19 has positively impacted the digital diabetes management market as the use of mobile applications and connected devices has increased exponentially during the pandemic. The demand for self-monitoring of blood glucose and wearable diabetes have also risen due recently. Several inpatient and outpatient diabetes services have considered increase their capacity. There is strong inclination towards minimizing outpatient attendance and movement towards virtual consultation using digital diabetes devices.
 

The U.S. FDA has also expanded its remote patient monitoring in hospitals and allowed the use home setting blood glucose meters in hospitals. Thus, the demand for digital diabetes devices and services have increased due to avoidance of hospital admission and will continue to offer growth opportunities to the market.
 

Increasing usage of digital devices in type 2 diabetes patients

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The type 2 diabetes segment value was over USD 12 billion in 2020 attributed to the presence of large number of type 2 patients. According to the Centers for Disease Control and Prevention (CDC), type 2 diabetes patients account for more than 90% of the total diagnosed cases in the country.
 

The type 2 diabetes patients carry significant morbidity and is leading cause of adult blindness, kidney failure, and lower limb amputation. The key drivers of the segment are the consumption of unhealthy diet, lack of physical activity, and other lifestyle related disorder. Furthermore, increasing number of obese people, rising geriatric population and greater expectancy at a time of birth are fueling the demand for the segment.
 

Adoption of unhealthy lifestyle and growing geriatric population base in the North America

North America digital diabetes management market revenue was around USD 4 billion in 2020 due to presence of industrial leaders and continuous technological advancements in digital devices. Moreover, increasing healthcare expenditure to diabetes and high per capita income are contributing to the market growth trends. According to the IDF, the total cost of diabetes per person per year was USD 9,505.6 in 2019. Thus, with increasing spending on diabetes management, the market will show momentous growth in the region.
 

The U.S. dominated the North America industry owing to high diabetes prevalence and favourable reimbursement policies. For instance, in September 2020, Abbott announced the availability of its FreeStyle Libre 2 CGM system in U.S. to Medicare patient for better management of diabetes. Moreover, high adoption of advance diabetes devices coupled with continuous technological advancements will propel the U.S. market demand.
 

Major companies are collaborating with start-ups to compete in the market

Some of the key players operating in the digital diabetes management market include Medtronic Plc, F.Hoffmann-LA Roche Ltd., Abbott Laboratories, Dexcom, Inc., Insulet Corporation, Companion Medical, Ypsomed, Tandem Diabetes, and Glooko, Inc, among several others. These players are continuously evolving their products and are involved in technological collaboration to gain larger customer base via competitive advantage.
 

Some of the recent industry developments:

• In August 2020, Medtronic Plc announced about its strategy to acquire Companion Medical, manufacturer of smart insulin pen. The acquisition will boost Medtronic’s portfolio and its ability serve technologically advanced products to its customers.
   
• In November 2020, Medtronic Launched CGM integrated smart insulin pen. The company announced the launch of Inpen that can be integrated with Gaurdian Connect CGM Data. The acquisition would enable Medtronic to expand its customer base and also increase their options for insulin delivery.
   
• In January 2020, Tandem Diabetes Care Inc, announced the launch of its new version of t: slim X2 in U.S. The system can integrate with Dexcom G6 CGM and is the first device that can deliver automatic correction boluses, thereby broadening firm’s portfolio.
   

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 2016 to 2027 for the following segments:
 

Market, 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
  • Service/software

Market, By Patient Type

• Type 1
• Type 2

Market, 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
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE