Global Digital Diabetes Management Market - 2022-2029

Global Digital Diabetes Management Market - 2022-2029

Market Overview

Digital Diabetes Management Market size was valued US$ 11.84 billion in 2021 and is estimated to reach US$ 29.76 billion by 2029, growing at a CAGR of 13.65% during the forecast period (2022-2029).

Diabetes is a metabolic disease that occurs due to high level of blood sugar levels. The result of either the pancreas does not produce enough insulin, or the body cannot effectively use the insulin it produces. It is characterized by the increased thirst and urination, increased hunger, fatigue, blurred vision, numbness or tingling in the feet or hands, sores that do not heal, and unexplained weight loss. Obesity, high blood pressure, heart disease, depression, physical inactivity, and others increase the risk of developing diabetes. The digital diabetes management system is used for improving self-management and controlling diabetes by reducing the blood glucose level and sustaining lower blood glucose.

Market Dynamics

The global digital diabetes management market is growing due to several factors such as the rising prevalence of diabetics drives the market growth with a rising geriatric population, sedentary lifestyle, and obesity. and novel technological advances.

Rising prevalence of diabetes and various new technological advancements are expected to drive market growth.

The rising prevalence of diabetics drives the market growth with a rising geriatric population, sedentary lifestyle, and obesity. According to the International Diabetes Federation, approximately 463 million adults of age-groups 20-79 have diabetes worldwide. This number is expected to increase and reach up to 700 million by 2045.

The market is witnessing the launch and approval of novel digital diabetes products. For instance, in May 2022, Roche diabetes care launched Accu-Fine, pen needles that provides virtually painless and smooth process of insulin delivery. It aims to better diabetes management by making insulin delivery easier for diabetic patients.

In Jun 2022, Abbott is developing a novel biowearable that will monitor glucose & ketone levels continuously in 1 sensor. System has already received breakthrough device designation from U.S.FDA. that will make life easier of people with life-threatening conditions.

The market is dominated by the presence of technological advancement products, including continuous glucose monitors, the systems that combine both a pump and a monitor for algorithm-driven automation of insulin delivery, long-distance patient care products, and artificial pancreas. For instance, in Feb 2021, Medtronic announced it got CE Mark for InPen smart insulin pen that can be used for multiple daily injections and Guardian 4 sensor also received CE Mark that doesn’t need fingersticks for diabetes treatment decisions. This now permits the integration of sensor with InPen or MiniMed 780G for continuous glucose monitoring.

High cost of diabetes management products is expected to hamper the market growth.

The market is hindered by the high cost of digital diabetes management products, including smartphone-connected insulin pumps, sensor-based continuous glucose monitors, Digital self-monitoring blood glucose meters, etc. Moreover, the presence of unfavorable reimbursement scenarios in few countries shall hamper the market growth. There are disparities in reimbursement policies that often result in non-compliance to treatment, especially in developing countries, including India and China.

Industry Analysis

The global digital diabetes management market provides in-depth analysis of the market based on various industry factors such as Porter’s Five Forces, Regulatory Analysis, Supply Chain Analysis, Pricing Analysis.

Segment Analysis

Product & service segment is expected to hold the largest market share in global digital diabetes management market

The global digital diabetes management market is segmented on product & service types as devices, digital diabetes management apps, data management software & platforms, and services. The devices segment accounts for the highest market share. The device segment includes smart glucose meters, continuous glucose monitoring (CGM) systems, smart insulin pens, smart insulin pumps/closed-loop pumps & smart insulin patches. The continuous blood glucose monitoring systems account for the highest market share due to their compatibility with smart devices. The continuous blood glucose monitoring systems segment held the largest market share of just under 40.0% owing to their compatibility with smart devices that serve as display devices. Moreover, they can also be set to send custom alerts to patients when certain glucose thresholds are reached. Continuous glucose monitoring devices involved the use of a sensor that is inserted under the skin. It provides glucose reading every one to five minutes on the monitor. It is possible to send custom alerts to patients when certain glucose thresholds are reached through this device. The market is dominated by the availability of the US Food and Drug Administration (FDA) approved products, including the DexCom G4 Platinum, Medtronic Diabetes Guardian Real-Time, and Medtronic Diabetes MiniMed Paradigm Real-Time Revel, which is a combination continuous glucose monitor and insulin pump.

The smart insulin pen segment is expected to have positive market growth, with too many companies developing the smart insulin pen. There is an increase in the launch of the smart insulin pen. For instance, in Nov 2020, Medtronic launched its InPen device integrated with its guardian connect glucose monitoring system after its acquisition of Companion Medical. InPen is the first and only FDA-cleared solution comprised of the insulin injector pen with an intuitive smartphone app and bolus advisor using bluetooth technology. It is effective in tracking insulin doses, including priming. It automatically sends the data to the user's mobile device, providing decision support for the constant monitoring and calculating necessary for successful insulin therapy.

Further, the market is also classified based on device type as handheld devices and wearable devices. The wearable devices segment accounts for the largest market share owing to the higher adoption of wearable digital diabetes management devices because of their advantages, such as better accessibility, scalability, and the ability to test anywhere. There is growing technological advancement, including the introduction of artificial intelligence, the growing adoption of self-administering insulin delivery devices, and closed-loop pump systems and smart insulin patches.

Geographical Analysis

North America region holds the largest market share in the global digital diabetes management market

By region, the global digital diabetes management market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global digital diabetes management market due to the high prevalence of diabetes. According to the American Diabetes Association (ADA), approximately 1.5 million Americans are diagnosed with diabetes every year. Around 37.3 million people, or 11.3% of the US population, have diabetes in 2022. The growing technological advancement for the development of digital diabetes management products shall stimulate the market. The presence of favourable reimbursement policies and better healthcare facilities shall fuel the market growth.

The Asia Pacific region is expected to have positive market growth owing to the increasing prevalence of diabetics. According to the Asian Diabetes Prevention Initiative, 60% of the world's diabetic population lives in Asia (2020). Developing countries such as India and China have a high prevalence of diabetics in Asia. Around 13.9 million adults, i.e., 11.6% of the adult population, have diabetes in China. Approximately 65.1 million adults with diabetes in India. It is expected that both China and India would have almost half a billion diabetic patients by 2030. Several organizations, associations, and institutes create awareness regarding the management, diagnosis, and treatment of diabetics. The growing technological advancement, rising healthcare investment, and increasing research and development activities shall stimulate market growth.

Competitive Landscape

The global digital diabetes management market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Medtronic Plc, F. Hoffmann-La Roche Dexcom, Inc., Abbott Laboratories, B. Braun Melsungen AG, Lifescan, Inc. (Subsidiary of Johnson & Johnson), and Agamatrix, Inc. are the leading market players with significant market share.

Companies are using the new product launch, product development, market expansion, and technological advancement strategies for holding their market position.

The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for digital diabetes management and their expansion across the globe. For instance, In September 2019, Medtronic had entered into a collaboration with Novo Nordisk to provide digital solutions that would combine their respective technologies to help diabetic patients better manage their condition. Under the terms of the agreement, Medtronic’s continuous glucose monitoring (CGM) devices, including the Guardian Connect system, would integrate insulin dosing data from smart insulin pens currently in development with Novo Nordisk.

In Jul 2022, Tandem Diabetes Care, Inc., insulin delivery as well as diabetes technology company announced its acquisition of Capillary Biomedical, an infusion set developer.

In Aug 2022, Insulet Corporation, leader in tubeless insulin pump technology announced U.S. FDA clearance for automated Omnipod 5 insulin delivery system for children aged 2 years or above having type 1 diabetes.

The companies are raising the funding and investment to increase their market penetration. For instance, in January 2020, Virta had raised the USD 93 million Series C financing for increasing the reach of the digital diabetes product and reach.

Key Companies to Watch

Medtronic Plc:

Overview: Medtronic plc is an American company that operates in U.S. and manufactures and markets medical device headquarters in Minneapolis, US. It is operational in around 140 countries and 90,000 people are employed there.

Product Portfolio:

I-PORT ADVANCE: It is an injection port with painless insertion, as it leaves cannula under skin and with fewer punctures medications can be injected in every 3 days. It can be used by adults as well as children.

Key Developments: In Aug 2020, Medtronic, medical technology leader announced its acquisition of Companion Medical, InPen manufacturer- only U.S.FDA approved smart insulin pen system.

The global digital diabetes management market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.