by The digital diabetes management market consists of a wide range of tools focused on helping people with diabetes effectively manage their condition. This includes glucose monitoring devices, insulin pens, insulin pumps, mobile apps, and web-based programs. Modern digital solutions allow people to constantly monitor their blood glucose levels, track food intake and medications, receive personalized insights and alerts, and securely share data with healthcare providers. The growing preference for self-management tools is expected to drive higher adoption of digital platforms over the coming years.
The global digital diabetes management market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rise in smartphone penetration is expected to be a key driver for the digital diabetes management market over the forecast period. Nearly all glucose monitoring devices and insulin pumps now have capabilities to connect to mobile applications, allowing convenient data transfer. Growing access to high-speed internet on phones further aids real-time reporting and consultations. As younger generations more open to technology assume roles as diabetes patients, reliance on digital tools will continue climbing. Additionally, advanced algorithms are empowering apps with predictive capabilities. They can study usage patterns to provide customized reminders, warnings and future forecasts. This boosts treatment adherence and outcomes. Such improvements are encouraging significant investments from leading healthcare companies. Overall, increasing digitization in diabetes care promises to transform management strategies in the coming decade.
Segment Analysis
The Digital Diabetes Management Market is dominated by the diabetes devices segment, which accounts for over 70% of the market share. Growing adoption of connected diabetes devices such as continuous glucose monitoring (CGM) systems and insulin pumps which help in efficient monitoring and management of blood glucose levels is a key factor driving the growth of this segment. The CGM systems sub-segment dominates the diabetes devices segment due to continuous advancements in CGM technology and introduction of real-time glucose monitoring systems.
PEST Analysis
Political: Governments across major countries are undertaking various initiatives to promote digital health solutions and controlling rising healthcare costs. This is positively impacting the adoption of digital diabetes management tools.
Economic: Rising healthcare costs due to growing diabetes patient pool and need for effective long-term management of the disease is driving greater uptake of cost-effective digital management solutions.
Social: Increasing health awareness and acceptance of self-monitoring practices is encouraging diabetic patients to opt for digital management tools for convenient remote monitoring of health metrics.
Technological: Advancements in data analytics, AI, connectivity technologies are augmenting digital tools with features such as predictive monitoring and treatment personalization. This is supporting effective diabetes management.
Key Takeaways
Global Digital Diabetes Management Market Size is expected to witness high growth in the forecast period, driven by the growing diabetes epidemic worldwide and increasing acceptance of digital health solutions. The global digital diabetes management market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region is projected to witness the fastest growth during the forecast period due to rising diabetes incidence, growing medical tourism, and improving healthcare infrastructure in developing countries of the region which is boosting adoption of digital diabetes management solutions. China dominates the APAC market.
Key players
Key players operating in the digital diabetes management market are Abbott Laboratories, Acon Laboratories, Inc., Bayer AG, F. Hoffmann-la Roche Ltd., Johnson and Johnson, Medtronic Plc, Novo Nordisk A/S, Terumo Corporation, Dexcom, Inc., and Becton, Dickinson and Company.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
