 |
| Global Digital Diabetes Management Market Size |
Digital diabetes management products facilitate efficient management of
diabetes. Remote patient monitoring systems help manage diabetes remotely by
transmitting data such as blood glucose levels, carbohydrate or insulin dosages
to healthcare providers through digital means. This reduces hospital visits and
manage diabetes effectively.
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 key trends:
Remote patient monitoring has gained significant popularity among people with
diabetes. It allows patients to send health metrics such as blood glucose
readings, carbohydrate intake and insulin dosages to healthcare providers
digitally via devices without visiting hospitals frequently. This helps
providers to monitor diabetes remotely and notify patients in case of abnormal
readings. It also helps patients to stay connected with caregivers and manage diabetes
effectively. With growing adoption of remote monitoring devices, this trend is
expected to drive substantial growth of the digital diabetes management market
during the forecast period.
Segment Analysis
The global digital diabetes management market is segmented into devices,
applications, and end users. The devices segment is further divided into smart
glucose meters, continuous glucose monitoring systems, smart insulin pens,
smart insulin pumps/closed loop systems, and others. Among these, the continuous
glucose monitoring systems segment dominates the market due to the convenience
and ease provided by these devices in monitoring glucose levels continuously
without the need for frequent finger pricks. The technology allows real-time
glucose monitoring for diabetes patients.
Key Takeaways
Global
Digital Diabetes Management Market Size is expected to witness high
growth over the forecast period of 2023 to 2030. 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 related content
The North America region currently holds the largest share in the global
digital diabetes management market mainly due to the increasing adoption of
advanced digital diabetes management devices and rising prevalence of diabetes
in the region. As per the Centers for Disease Control and Prevention, around
37.3 million Americans were reported to have diabetes in 2019. Additionally, favorable
reimbursement policies and rising healthcare expenditure are also supporting
the growth of the regional market. However, the Asia Pacific market is expected
to grow at the fastest pace during the forecast period due to the improving
healthcare infrastructure and increasing awareness regarding diabetes
management in developing countries such as India and China. The growing
population and improving economic conditions are also boosting the regional
market growth.
Key players related content
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. Abbott Laboratories offers
world-class diabetes management products and technologies including continuous
glucose monitoring systems like FreeStyle Libre and smart insulin pumps under
brands like Minimed. Similarly, Dexcom, Inc. manufactures innovative continuous
glucose monitoring devices and is a leading player in the segment.
Explore More Trending Article On This Topic: https://www.pressreleasebulletin.com/digital-diabetes-management-market-trends/
https://www.shayaricenter.com/understanding-cancer-biomarkers