Digital Diabetes Management Market Trends, Growth Prospects To 2026

Posted by Neha Bora on March 9th, 2020

The Report 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

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).

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.

Further key findings from the report suggest:

• 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.

Access Research Report of Digital Diabetes Management Market @ https://www.grandviewresearch.com/industry-analysis/digital-diabetes-management-market