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Digital Diabetes Management Market Size Worth $26.4 Billion by 2026: Grand View Research, Inc.
SAN FRANCISCO, Oct. 7, 2019 /PRNewswire/ -- The global digital diabetes management market size is expected to reach USD 26.4 billion by 2026, according to a new report by Grand View research, Inc., registering a 19.4% CAGR over the forecast period. The market is propelled by increasing number of product launches, coupled with innovation in technologies such as predictive analytics, Artificial Intelligence (AI), and Internet of Things (IoT).
Key suggestions from the report:
- Based on product, the continuous blood glucose monitoring segment dominated the market in 2018, accounting for a share of just under 40.0%. Smart insulin pens will emerge as the fastest growing segment, registering a CAGR of 22.0% over the forecast period
- By type, wearable devices held the largest share in 2018 and is also likely to emerge as the fastest growing segment during the forecast period
- On the basis of app, digital diabetes management apps accounted for the leading share in 2018 in terms of revenue. However, weight and diet apps are projected to exhibit the fastest growth through 2026
- North America held the dominant market share in 2018 and will retain its lead throughout the forecast period. Favorable reimbursement policies, presence of key players, and supportive government initiatives have driven the regional market
- Some of the prominent players are Abbott Laboratories; Medtronic plc; F. Hoffmann-La Roche Ltd; Bayer AG; Lifescan, Inc.; Dexcom, Inc.; Sanofi; Insulet Corporation; Ascensia Diabetes Care Holdings Ag; and B Braun Melsungen AG.
Read 110 page research report with ToC on "Digital Diabetes Management Market Size, Share & Trends Analysis Report By Product (Smart Glucose Meter, CBGM, Smart Insulin Pen, Smart Insulin Pump), By App, By Type, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/digital-diabetes-management-market
Data analytics and artificial intelligence are now an integral part of digital solutions for diabetics. Artificial intelligence is gaining rapid attention in its ability to harness massive volumes of patient information. Digital diabetes management tools help patients analyze their glucose levels and pattern. They also help patients decide food intake and dosage of insulin. The number of smartphone apps for disease management has seen a monumental rise over the past few years, giving the market a major boost.
The market is further augmented by increasing prevalence of obesity, growing aged population, and rising awareness about diabetes preventive care. Moreover, increasing number of active users of smart devices and launch of new apps have allowed patients to monitor their blood glucose levels in real time. These apps also enable healthcare professionals to provide better patient outcomes. In May 2019, Roche Diabetes Care India introduced its Integrated Diabetes Management Solution (IDMS) program in India with the launch of Accu-Chek Instant blood glucose monitoring (BGM) system and the My Sugar app. The combination marks the entry of next-generation BGM systems. This is expected to propel product demand.
Grand View Research has segmented the global digital diabetes management market on the basis of product, app, type, and region:
- Digital Diabetes Management Product Outlook (Revenue, USD Million, 2015 - 2026)
- Smart glucose meter
- Continuous blood glucose monitoring system
- Smart insulin pens
- Smart insulin pumps
- Digital Diabetes Management App Outlook (Revenue, USD Million, 2015 - 2026)
- Digital Diabetes Management Apps
- Weight & Diet Management Apps
- Digital Diabetes Management Type Outlook (Revenue, USD Million, 2015 - 2026)
- Wearable devices
- Handheld devices
- Digital Diabetes Management Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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