Digital Diabetes Management Market Size By Product Type ({Devices [Smart Blood Glucose Meters, Smart CGM, Smart Insulin Pumps & Patches, Smart Insulin Pens], Device Type [Wearable, Handheld]}, Services {Diabetes Apps, Software}), By Patient Type (Type 1,

Digital Diabetes Management Market Size By Product Type ({Devices [Smart Blood Glucose Meters, Smart CGM, Smart Insulin Pumps & Patches, Smart Insulin Pens], 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, COVID-19 Impact Analysis, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The digital diabetes management market size is expected to exhibit promising growth trajectory over the forecast period from 2022 to 2030, driven by the surging number of diabetic patients worldwide. Increasing expenditure on diagnosis and treatment will boost market outlook over the assessment period.

Strategic partnerships among leading players in the space of diabetes treatment and diagnosis is expected to consolidate growth of the market further. In 2021, French medical devices firm, BIOCORP, collaborated with world-leading diabetes care provider, Novo Nordisk, over smart insulin pens. The collaboration aimed at developing and distributing Mallya smart add-on device, which is a Bluetooth-enabled smart device for pen injectors such as Novo Nordisk FlexTouch pen that is commonly used by diabetic patients.

The global digital diabetes management market is bifurcated into product type, patient type, end-use, and region.

Based on product type, the digital diabetes management industry is divided into services, devices, and device type. The device segment is further sectioned into smart CGM, smart insulin pens, smart blood glucose meters, and smart insulin pumps. The device type is bifurcated into wearable, handheld. Services product type segment is further sub-segmented into software and apps.

Among these, services product segment is estimated to grow at a CAGR of around 19.6% through the forecast timeline, driven by the development of advanced software and mobile applications that facilitate real time access to patient data. Advantages such as continuous monitoring and management of large volumes of patient data will pave the way for segment growth.

With respect to patient type, the digital diabetes management market is categorized into type 1 diabetes, and type 2 diabetes. In 2021, the type 2 diabetes segment accounted for more than 90% of overall digital diabetes management market share. Key driving factors that are fueling the segment growth include increasing type 2 diabetes patient pool, rapid adoption of digital technologies for better diabetes management and increasing preference for smart devices to monitor blood glucose and insulin dosage.

In terms of end-use, the digital diabetes management business is fragmented into home settings, hospitals, diagnostic centers & clinics, and others. In 2021, the digital diabetes management market generated over 16% of its total revenue share from diagnostic centers and clinics. The segment saw such a scale of growth on account of fast-paced development of healthcare infrastructure. Increasing initiatives to enhance access to clinics across remote areas is likely to foster segment growth over the forecast period.

On the regional front, Latin America digital diabetes management market is projected to showcase CAGR of approximately 20.9% over the assessment timeline from 2022 to 2030, driven by the rising prevalence of diabetes among the LATAM population and a subsequent expansion in the business presence of key market players.

Meanwhile, rising expenditure on next-generation medical tools and devices and awareness associated with digital technologies will accelerate the regional market outlook.