Diabetes Management Software Market Insights, Scope And Forecast By 2031

Posted by Anup Kumar on February 19th, 2021

The market for diabetes management software is predicted to grow at a high CAGR rate globally. It is expected to gain momentum owing to rising cases of diabetes, technological developments, awareness over treatment procedures, digitalization, increasing focus and spending on health and hygiene etc. Diabetes management softwares run on personal computers, mobile phones, tablets and other digital assistants to track, monitor and manage the level of diabetes. These softwares are preferred in the healthcare and pharmaceutical industries to offer best treatment to the patients. The demand for these softwares is rising due to its accuracy and convenient results to the users. Government support to the healthcare sector for using highly automated facilities and methods to offer quality treatment to patients is acting as a major factor driving the market growth.

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Investment in this market is rising on account of its wide applications such as tracking blood sugar level, insulin intake, diet observance, physical activities, conducting self management tasks etc.

By the end of 2019, thewhole world witnessed dire consequences of Covid-19 pandemic. The pandemic started from China and reached every corner of the world leaving a negative impact on the market players globally. Diabetes management software experienced decline in its market demand in the initial phase of the disease creating catastrophic influence on the manufacturers operating in this market. The pandemic had put a temporary brake on the market progress. As the number of diabetic patients are more across the world, the demand can not be low for longer period of time.

Diabetic patients have a weak immune system and covid-19 can easily impact the patients with weak immune system creating an emergent need to monitor them continuously which is likely to propel the market growth. The growing need to track and monitor diabetes is boosting the progress of this market even in the pandemic. In the current situation, the leading manufacturers are giving tireless efforts to overcome the effects ofthe pandemic with increased government support. Government is providing full support to healthcareand pharmaceutical sector for continuing their operationsin the pandemic. The market is forecasted to witness substantial growth due to the rising focus on health, hygiene well-being as well as adoption ofbest and highly automated facilities by healthcare industries.

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Among these market leaders, Dexcom Corporation collaborated with DreMed, a medical supplier of hospital equipments on 19^th February, 2020 to improve its facilities. DreMedgenerates insulin delivery by investigating information from continuous glucose-monitoring, self-monitoring blood glucose and insulin delivery devices. This collaboration improved the market presence of Dexcom company among the users.

On the other hand, Roche Diagnostics declared free access for  its ‘mySugr Pro app’ on  30^th April , 2020. The app is designed to give assistance to millions of people suffering from diabetes to keep them aware about their daily sugar levels and maintain a balanced level. Such innovations are enabling the company to have a strong impact on the customers and improve their image.

Abbott  Corporation invested on freestyle libre2, a glucose meter on 15^th  June, 2020. It is a device used for tracking glucose level among the diabetic patients applied on the back of upper arm to check glucose level in the body.This latest technology helps in setting alarm for the patients with too high or too low sugar levels.

Recent data from the Centers for Disease Control and Prevention showed that over 100 million US adults are living with pre-diabetes or diabetes. Growing prevalence of type 1 and type 2 diabetes has driven the public health officials to urge healthcare providers to offer effective preventive measures. Rising inclination of individuals towards an unhealthy lifestyle, imbalanced diet, and growing stress and tensions are fueling the growth of individuals with diabetes.

Diabetes management software is a set of application that can help patients and healthcare providers in tracking and monitoring diabetes. With numerous mobile and desktop applications, diabetes management software is gaining traction for diverse applications in the healthcare industry, thereby driving growth in the diabetes management software market.

Growing penetration of advanced technology in the healthcare sector has paved the way for numerous enhanced diabetes management software that is more efficient than the traditionally used fingertip pricks method to test blood glucose levels. Advanced technology has brought a paradigm shift in the drug dispensing and disease monitoring space, with several healthcare centers leveraging diabetes management software to manage diabetes among patients. The predictive features of diabetes management software allow users to manage data associated with the prediction of future blood sugars and consumed carbohydrates easily. These factors are favoring growth in the diabetes management software market.

Leading companies in the global diabetes management software market are increasingly focusing on unique growth strategies, including acquisitions, collaborations, agreements, and partnerships to offer optimal patient experience. Vendors in diabetes management software market are focusing on launching innovation-driven and convenience-ensuring variants to strengthen their product portfolio.

The global market for diabetes management software has been expanding alongside the effort of the healthcare industry to induct the best facilities for treatment and care of diabetic patients. It is expected that the demand for diabetes management software would flow in from private clinics as well as hospitals in the forthcoming years. This is because both of these units witness an influx of patients suffering from diabetes on a daily basis. Moreover, the changing lifestyles of the people coupled with propensities to have sweeter foods are also believed to be a key driver of demand within the global diabetes management software market. The government has also been investing heavy amounts towards equipping healthcare centers with all the necessary tools to facilitate better treatment of patients. This is also expected to bring in commendable revenues within the global diabetes management software market over the forthcoming years.