Digital Diabetes Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Digital Diabetes Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global digital diabetes management market size reached US$ 8.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2027, exhibiting a growth rate (CAGR) of 22.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Digital diabetes management refers to electronic medical solutions used for remote monitoring, analysis and management of patients with diabetes. Diabetes is a metabolic disorder that leads to elevated blood sugar levels in the body. Digital diabetes management involves the use of software-based applications, platforms and devices, such as smart glucose meters, insulin pens, sensors, closed-loop systems and insulin patches. These systems are used to manage blood glucose, pressure and cholesterol levels and effectively track and maintain the record of the patients. They also aid in improving healthcare processes, delay or prevent diabetes complications and minimize medical costs for the patients. As a result, they are widely used across at-home and self-care facilities, hospitals, clinics and research institutes.

Digital Diabetes Management Market Trends:
The increasing prevalence of diabetes and obesity across the globe is one of the key factors driving the growth of the market. Moreover, rising health consciousness among the masses is providing a thrust to the market growth. Patients suffering from diabetes related disorders and are widely adopting digital diabetes management solutions and advanced devices, such as smart insulin pens, that can record the amount of each dosage and transmit the related data. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), artificial intelligence (AI) and big data solutions, are acting as other growth-inducing factors. These innovative systems are used by both patients and healthcare providers to receive customized and real-time updates regarding the hypoglycemic index of the patient. Solution providers are also designing user-friendly systems and wearable devices to facilitate self-monitoring of blood glucose levels. Other factors, including rising healthcare expenditures of the masses, along with rapid digitization of the medical industry, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital diabetes management market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type and device type.

Breakup by Product Type:

Smart Glucose Meter
Smart Insulin Pumps
Smart Insulin Pens
Apps

Breakup by Device Type:

Handheld Devices
Wearable Devices

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, ACON Laboratories Inc, Ascensia Diabetes Care Holdings AG (PHC Holdings Corporation), Becton, Dickinson and Company, Dexcom Inc., F. Hoffmann-La Roche AG, Medtronic plc, Novo Nordisk A/S, Tandem Diabetes Care Inc. and Terumo Corporation.

Key Questions Answered in This Report:
How has the global digital diabetes management market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global digital diabetes management market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the device type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global digital diabetes management market and who are the key players?
What is the degree of competition in the industry?