Global Digital Diabetes Market -2024-2031

Global Digital Diabetes Market -2024-2031

Global Digital Diabetes Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030, growing with a CAGR of YY % during the forecast period 2024-2031.

Digital Diabetes refers to the integration of digital technologies into the comprehensive management and treatment of diabetes. This evolving field leverages advancements in mobile applications, wearable devices, continuous glucose monitoring systems, artificial intelligence, and telemedicine to enhance the monitoring, understanding, and care of individuals living with diabetes.

The use of artificial intelligence and machine learning in diabetes management is likely to expand. These technologies can analyze vast amounts of data to predict blood sugar trends, optimize treatment plans, and provide personalized recommendations for lifestyle modifications. Enhanced remote monitoring capabilities may lead to improved patient outcomes. This includes real-time data transmission from wearable devices to healthcare providers, allowing for proactive intervention and timely adjustments to treatment plans.

Market Dynamics: Drivers and Restraints

Increasing prevalence of diabetes

The growing number of individuals diagnosed with diabetes expands the potential market size for digital diabetes solutions. As more people require effective tools for managing their condition, there is a greater demand for digital technologies that can offer personalized and efficient diabetes care. Diabetes is a chronic condition that requires continuous monitoring of blood glucose levels, lifestyle factors, and treatment effectiveness. Digital solutions, such as continuous glucose monitoring (CGM) systems and wearable devices, fulfill the need for real-time data, enabling individuals and healthcare providers to make timely and informed decisions.

The diversity in diabetes management needs among individuals emphasizes the importance of personalized treatment plans. Digital technologies, including mobile apps and AI-driven platforms, can analyze patient data to offer tailored insights, treatment recommendations, and lifestyle modifications based on individual health profiles.

For instance, according to World Health Organization, estimated that, about 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been steadily increasing over the past few decades.

Market Dynamics: Restraint

Data security and privacy concerns

The healthcare industry is a prime target for cyberattacks due to the wealth of sensitive information it holds. A data breach in a digital diabetes platform could lead to the exposure of personal health data, potentially resulting in identity theft, fraud, or other malicious activities. Stringent data protection regulations, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), impose strict requirements on the handling and storage of health data.

Ensuring compliance with these regulations can be challenging for digital health companies, leading to legal and regulatory hurdles. Individuals with diabetes may fear that the disclosure of their health information could lead to stigmatization or discrimination in various aspects of life, including employment, insurance coverage, or social interactions. Such concerns can discourage people from actively using digital diabetes tools.

Individuals may feel that they have insufficient control over how their health data is collected, stored, and used within digital diabetes solutions. A perceived lack of control can lead to anxiety and hesitation in adopting these technologies.

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Segment Analysis

The global digital diabetes market is segmented based on type, solution, technology, end-user and region.

The insulin delivery devices segment from the solution segment accounted for approximately 44.19% of share

The rise of insulin delivery devices has been driven by several factors that aim to improve the administration of insulin for individuals with diabetes. These devices are designed to provide more convenient, accurate, and personalized insulin delivery, addressing some of the challenges associated with traditional insulin administration methods.

Insulin delivery devices, such as insulin pens and insulin pumps, offer enhanced convenience compared to traditional vial and syringe methods. They are often more portable, discrete, and user-friendly, allowing individuals to administer insulin more easily and discreetly in various settings. Many insulin delivery devices are designed to be user-friendly, reducing the complexity associated with traditional methods. This is particularly beneficial for individuals who may have difficulty with manual dexterity or those who are new to insulin therapy.

Additionally, the rise of prduct launches helps to boost the segment growth. For instance, in February 2024, Tandem Diabetes Care, an American company specialising in insulin delivery and diabetes technology, had launched Tandem Mobi, in the US. Tandem Mobi is a compact and robust automated insulin delivery system designed for individuals with diabetes. Moreover, in November 2023, ViCentra had launched a hybrid closed-loop automated insulin delivery system that uses the Dexcom G6 CGM. Utrecht, The Netherlands-based ViCentra designed the system to deliver insulin through its Kaleido insulin pump.

Geographical Analysis

North America accounted for approximately 33.11% of the market share in 2022

Some of the factors that are driving the market growth in the North American region include increasing prevalence of diabetes, rising adoption of CGM devices, technological advancements, and the presence of key companies are some of the factors contributing to the market growth. Additionally, the efforts taken by the federal government to manage the disease at a larger level is fueling the market growth.

For instance, according to the National Diabetes Statistics Report 2022 by the CDC, over 130 million adults in the United States are either suffering from diabetes or have prediabetes. The high per capita income and increasing healthcare spending are among the key factors likely to drive market growth.

The American Diabetes Association released the Economic Costs of Diabetes in the U.S. report in November 2023, highlighting the economic impact of diabetes in 2022. According to the report, the total cost of diabetes in 2022 was $412.9 billion, including $306.6 billion in direct medical costs and $106.3 billion in indirect costs.

Key players in the U.S. are executing various strategies to expand their market share. For instance, on February 08, 2023, DarioHealth Corp, a leader in the global digital therapeutics (DTx) market, had partnered with Dexcom, the global leader in real-time continuous glucose monitoring (CGM) technology, to integrate its market-leading CGMs, into Dario's multi-chronic condition platform.

COVID-19 Impact Analysis

The pandemic led to disruptions in global supply chains, affecting the production and distribution of medical devices, including CGM devices. Delays in the manufacturing and transportation of components or finished products could have impacted the availability of CGM devices in certain regions.

The strain on healthcare resources and priorities during the pandemic may have diverted attention and resources away from non-essential medical services. This could have affected the promotion, adoption, and routine use of CGM devices as healthcare systems focused on managing COVID-19 cases. Patients' priorities may have shifted during the pandemic, with a focus on immediate health concerns related to COVID-19. This shift in priorities could have influenced the decision-making process regarding the adoption and utilization of CGM devices for diabetes management.

Market Segmentation

By Type
• Type 1 Diabetes
• Type 2 Diabetes

By Solution
• Glucose Monitoring Systems
• Insulin Delivery Devices
• Diabetes Management Apps
• Telemedicine Services
• Others

By Technology
• IoT and Wearables
• Mobile Applications
• Web-based Solutions
• Artificial Intelligence (AI) and Machine Learning (ML)
• Others

By End-User
• Hospitals
• Homecare setting
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Dexcom, Medtronic Plc, Abbott Laboratories, Roche Diabetes Care, Teladoc Health, Welldoc, Virtal Health, Insulet Corporation, Beta Bionics, Dario among others.

Key Developments

 In June 2023, Know Labs launched a generation 1 device that uses the company’s Bio-RFID technology to measure blood glucose through the skin using radio waves and machine-learning algorithms. The Know Labs’s device feasibility trial compared its BioRFID sensor technology to Dexcom’s G6 device.

 In December 2023, Tandem Diabetes Care (Nasdaq:TNDM) announced today that it launched Tandem Source, a diabetes management platform. The platform, for both insulin pump users and healthcare providers, brings together features of Tandem Diabetes Care’s legacy offerings. It combines t:connect HCP and t:connect Portal with new, comprehensive data reporting in one central, scalable platform.

Why Purchase the Report?
• To visualize the global digital diabetes market segmentation based on type, solution, technology, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of digital diabetes market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global digital diabetes market report would provide approximately 69 tables, 69 figures and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies