Diabetes Management : New Approach towards Technological Advancements
Posted by Dheeraj Shaha on November 14th, 2019
How The Global Digital Diabetes Management Market to Revolutionize the Global Healthcare Industry.
The growth of this market is mainly driven by the rising prevalence of diabetes, increasing focus on the development and adoption of digital platform for diabetes, and technological advancements.
The Digital Diabetes Management Industry to Offer .9 billion Growth Globally.
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The wearable devices segment is expected to account for the largest share of the digital diabetes management market:
The large share of the market is mainly due to factors such as the increasing number of regulatory approvals for CGM systems; technological advancements such as closed-loop pump systems, smart insulin patches, and other pipeline devices; and the growing adoption of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management.
The self/home healthcare segment accounted for the largest share of the digital diabetes management market:
The large share of this segment can mainly be attributed to technological advancements and a shift toward home care and self-management of diabetes.
North America is expected to grow at the highest CAGR during the forecast period
The global digital diabetes management market in North America is expected to grow at the highest CAGR during the forecast period. This is due to the growing demand for technologically advanced solutions such as closed-loop systems, high adoption of remote online coaching services for diabetes management, high adoption of connected diabetes management devices and apps, favorable reimbursement policies, increased acceptance of digital diabetes solutions from payers, rising awareness on self-diabetes management and government initiatives to promote digital health in the region.
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Medtronic is the leading provider of digital diabetes management solutions across the globe. The company offers a portfolio of health information exchange solutions, clinical decision support solutions, and telehealth solutions and services to meet the needs of patients and physicians working in the areas of diabetes management. The company focuses on developing integrated devices that enable data sharing between devices, patients, care providers, and healthcare professionals to help generate actionable insights.
Roche is one of the leading providers of blood glucose monitoring systems in the digital diabetes management market. The company offers digital glucometers, diabetes management applications, and data management software. To maintain its position in this market, the company focuses on expanding its product portfolio through organic and inorganic strategies, such as product launches, collaborations, partnerships, agreements, and acquisitions. For instance, in 2017, the company acquired mySugr GmbH, which helped it to expand its product portfolio in the area of diabetes management apps. Also, in 2018, Roche partnered with various companies such as Wellthy Therapeutics Private Limited (India), Ieso Digital Health Ltd. (UK), and Care Innovations Ltd. (US) to integrate its existing portfolio and develop solutions for global, personalized management of diabetes by connecting patients and healthcare professionals to better control the disease.
