Digital Diabetes Management Market to Hit $35.8 Billion by 2028

The global digital diabetes management market is projected to reach USD 35.8 Billion by 2028 from an estimated USD 18.9 Billion in 2023, at a CAGR of 13.6% during the forecast period.  The growing number of people with diabetes has led to an increased focus on developing and adopting better diabetes care solutions. Advances in technology have made it possible to create more flexible and sophisticated solutions. The increasing use of cloud-based enterprise solutions and connected devices and apps are also driving market growth. However, high device costs, lack of reimbursement in developing countries, and the preference for traditional diabetes management devices are expected to slow market growth.

Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144725893

The digital diabetes management market offers a wide range of devices, apps, data management software & platforms, and services. Smart glucose metres, continuous glucose monitoring (CGM) systems, smart insulin pens, smart insulin pumps/closed-loop systems, and smart insulin patches are included in the devices segment. Similarly, the digital diabetes management apps segment is further sub-segmented into diabetes & blood glucose tracking apps and obesity & diet management apps. In 2022, the devices segment held the largest market share for digital diabetes management, with 76.4%. Factors such as the increasing demand for wireless and wearable devices for diabetes management, growing acceptance of smart insulin pumps & pens for insulin delivery, and the growing awareness about continuous glucose monitoring in patients are driving the market growth.

Different types of digital diabetes management device studied in the report are handheld devices and wearable devices. Among these, the The market for digital diabetes management devices in 2022 was dominated by wearables, with a share of 60.3%. By 2028, this market is expected to have grown from USD  8,876.3 million in 2023 to USD  18,557.3 million. Technology advancements like closed-loop pump systems, smart insulin patches, and other pipeline devices, as well as factors like the growing use of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management, are all the factors that are boosting the wearable devices segment’s growth..

Various end users of the digital diabetes management market are self/home healthcare, hospitals & specialty diabetes clinics, and academic & research institutes. The self/home healthcare accounted for the largest share of 79.9% of the digital diabetes management market in 2022. The large share of this segment can mainly be credited to technological advancements and a shift toward home care and self-management of diabetes.

North America is estimated to grow at the highest CAGR during the forecast period. The region also accounted for the largest market share of 45.3%, followed by Europe with a share of 28.1% in 2022. Various factors attributing to the growth of the digital diabetes management market in North America are growing adoption of connected diabetes management devices, high adoption of diabetes management apps, growing demand for integrated hybrid closed-loop systems, favorable reimbursement policies, and government initiatives to promote digital health in the region.

Furthermore, In Asia Pacific, countries such as China and India have a high prevalence rate of diabetes, primarily due to the increasing urbanization, population and lifestyle changes. The increasing incidence of diabetes, rising awareness, high undiagnosed population, and the rising penetration of smartphones and tablets have propelled the adoption of digital diabetes management solutions in the region.

The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).

Recent Developments of Digital Diabetes Management Industry

In February 2023, Dexcom launched Dexcom G7 CGM device in the US and is planning to launch in Europe and Asia Pacific by first quarter of 2024

In October 2022, Abbott laboratories launched Freestyle Libre 3 CGM device worldwide.

In April 2022, Dexcom launched Dexcom ONE device. The company launched the new Dexcom ONE Continuous Glucose Monitoring System in the UK.

In April 2022, Ascensia Diabetes Care Holdings AG (Switzerland) launched Eversense’s 6-month CGM system in the US.

In October 2021, LifeScan, Inc. (US) launched OneTouch Solutions. This is a holistic digital health offering linking people with diabetes to solutions and support from proven experts.

In September 2020, Roche Diagnostics (Switzerland) launched a remote patient monitoring ssolution, which is a new element of the RocheDiabetes Care Platform and uses its pattern detection feature.

Share this post:

Related Posts

Comments are closed.