Medtronic (Ireland), B. Braun (Germany), Dexcom (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care (Switzerland), LifeScan (US), Tidepool (US), AgaMatrix (US), Glooko Inc. (US), and DarioHealth (Israel) are the leading players in digital diabetes management market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, approvals, and enhancements; expansions; agreements, collaborations, and partnerships; and mergers & acquisitions.
The global digital diabetes management market is projected to reach USD 19.9 billion by 2024 from USD 6.8 billion in 2019, at a CAGR of 23.8%. Factors such as the rising prevalence of diabetes, technological advancements, increasing adoption of cloud-based enterprise solutions, and the growing use of connected devices and apps are driving the growth of this market. However, high device costs and lack of reimbursement in developing countries and the higher acceptance of traditional diabetes management devices are expected to restrain the growth of this market during the forecast period.
Roche Diagnostics accounted for the second-largest share of the digital diabetes management market in 2018. The company offers connected glucose meters, CGM systems, smart insulin pens, smart insulin pumps, smart insulin patches, and data management software. Under its flagship brand Accu-Check, Roche offers a variety of digital diabetes management devices and software platforms that are widely used by end users across the globe. Roche also has a wide geographic presence spanning North America, Europe, the Middle East & Africa, and the Asia Pacific.
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To improve patient experience, the company focuses on growth strategies, such as collaborations, partnerships, agreements, and acquisitions. Additionally, it also focuses on enhancing and launching products to strengthen its product portfolio. For instance, in June 2018, the company launched the Sugar.IQ smart diabetes assistant app for the management of diabetes patients.
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