Digital Diabetes Management Market worth over $54bn by 2027

Digital Diabetes Management Market size is set to surpass USD 54 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

Increasing geriatric population and rising number of diabetic patients is expected to boost the market growth. According to the World Health Organization, the proportion of population aged over 60 years would reach to 22% of the total population by 2050. Diabetes in aged population is growing rapidly. According to the American Diabetes Association, almost one-third of adults aged over 65 years have diabetes in U.S. Thus, with increasing in geriatric pool and risk of diabetes, the demand for digital diabetes products will expand in the coming years.

 

Request Sample Buy NowInquiry Before Buying

 

Increasing awareness about diabetes preventive care coupled with rising usage of wearable diabetes devices are driving the market expansion. Diabetes patients are now preferring smart diabetes devices that can assist with real-time blood glucose reading and help in taking timely decisions. These devices are user-friendly and allow patients to perform their daily activities. Moreover, launch of several diabetes awareness campaigns by governments is also augmenting the market value.
 

Rising number of product launches is thriving the digital diabetes management market revenue

The industry leaders in digital diabetes space are continuously innovating their products and are launching advanced products in the market. The digital diabetes devices are becoming more integral part of people with diabetes for better disease management. The companies in the industry are developing new systems to appeal broad spectrum of potential users.
 

Browse key industry insights spread across 129 pages with 169 market data tables & 12 figures & charts from the report, Digital Diabetes Management  Market Size 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), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027 in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/digital-diabetes-management-market
 

Adoption of closed loop-system (Artificial Pancreas) will drive the demand for insulin pumps

The smart insulin pump segment is predicted to register growth rate at 19.1% till 2027 owing to technological advancements and robust product pipeline. For instance, in February 2020, Insulet Corporation announced partnership with Dexcom and Abbott for its tubeless artificial pancreas system. Thus, the technological collaborations and product launches will influence the demand for the market.
 

High usage of digital diabetes devices in type 1 patients will fuel the digital diabetes management market demand

Type 1 diabetes patients are highly dependent on insulin, and thereby require continuous monitoring of glucose. Additionally, acceptance rate of connected devices and diabetes apps & software is also very high in type 1 diabetes patients. Type 1 diabetes patients are largely using glucose monitoring apps, nutrition apps, insulin titration apps, insulin delivery apps, and apps for closed loop system (artificial pancreas) among others.
 

Growing healthcare expenditure to diabetes is poised to foster the demand for hospitals

The hospitals end-use segment in the digital diabetes management market valued at over USD 4.5 million in 2020 led by increasing cost of hospital admission coupled with growing FDA approval of digital devices in hospitals. In addition, rising hospital stay and reimbursement of certain diabetes devices in hospitals is slated to propel the demand for the market.
 

Increasing prevalence of diabetes is projected to spur the demand in European region

Europe digital diabetes management market accounted for around 28% of revenue share in 2020. According to the International Diabetes Federation, more than 59 million people in Europe were living with diabetes in 2019. Presence of major players in the region, new product launches and implementation of better reimbursement policies are expected to boost the demand in the region. Germany, U.K., France, Italy, and Spain are top countries in Europe with a high incidence of diabetes, and thus will foresee substantial revenue growth in the coming years.
 

Strong focus on product development by industry players will increase the market growth potential

Some of the notable companies operating in the digital diabetes management market include Medtronic Plc, Abbott Laboratories, F.Hoffmann-LA Roche Ltd, Dexcom, Inc, Insulet Corporation, Tandem Diabetes, Ypsomed,  and Glooko, Inc., among several others. These industry participants are involved in mergers & acquisitions, joint ventures, licensing & partnership and technological collaborations to stay ahead in the market.
 

Explore More on Related Topics:

Chat with us
We use cookies to enhance user experience. (Privacy Policy) X