Digital
diabetes management solutions are smartphone-connected diabetes management
devices and software platforms used by patients suffering from Type 1, Type 2,
and gestational diabetes. Medical professionals also use these solutions to
manage diabetes.
Various digital diabetes management devices such as smart glucose meters,
continuous glucose monitoring systems, smart insulin pens, and smart insulin
pumps/closed-loop systems and smart insulin patches are used for glucose
monitoring and insulin delivery. Diabetes management applications, data
management software & platforms, and services are used by patients and
healthcare providers for remote monitoring, data analysis, and disease
management.
The Digital Diabetes Management Market is experiencing
significant growth due to rising prevalence of diabetes has increased the focus
on the development and adoption of better solutions for diabetes care. Also,
advancements in technologies have ensured the introduction of highly flexible
solutions in the market. The increasing adoption of cloud-based enterprise
solutions and the growing use of connected devices and apps are some of the
other major factors supporting market growth.
The digital diabetes management market is projected to reach USD 19.98
billion by 2024, from an estimated USD 6.87 billion in 2019, at a CAGR of 23.8%
This study involved the extensive use of both
primary and secondary sources. The research process involved the study of
various factors affecting the industry to identify the segmentation types,
industry trends, key players, competitive landscape, competitive leadership
mapping, key market dynamics, and key player strategies.
Market Size Estimation:
The
market size estimates and forecasts provided in this study are derived through
a mix of the bottom-up approach (revenue share analysis of leading players) and
top-down approach (assessment of utilization/adoption/penetration trends, by
product & service, device type, end user, and region).
After arriving at the market size, the total digital diabetes management market
was divided into several segments and subsegments. To complete the overall
market engineering process and arrive at the exact statistics for all segments
& subsegments, data triangulation and market breakdown procedures were
employed, wherever applicable.
Both top-down and bottom-up approaches were used to estimate and
validate the total size of the digital diabetes management market. These
methods were also used extensively to estimate the size of various subsegments
in the market. The research methodology used to estimate the market size
includes the following:
1. The key
players in the industry and market have been identified through extensive
secondary research
2. The
market generated by leading players has been determined through primary and
secondary research
3. All
percentage shares, splits, and breakdowns have been determined using secondary
sources and verified through primary sources.
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Recent Developments in Industry:
1. In
November 2018, Insulet Corporation collaborated with SAMSUNG. Under this
collaboration, Insulet integrated its Omnipod System with
Samsung smartphones, to enhance consumer-based digital health
technologies.
2. In July 2018, Medtronic partnered with United HealthCare Services, to reduce
preventable hospital admissions by 27%, enhance diabetes management, and cut
healthcare costs. Also offering plan members with diabetes access to automated
insulin delivery.
3. In July 2018, Roche Diagnostics received CE Mark for its Accu-Chek Solo
micropump system.
4. In July 2018, Abbott Laboratories Received US FDA approval for the FreeStyle
Libre 14-day Flash Glucose Monitoring System.
Key Questions Answered In The Research:
# Who are the key players in the digital diabetes management market and
which strategies have they pursued?
# What does the competitive landscape in this market look like?
# What is the strategic analysis of different geographical regions?
# What are the different market opportunities for stakeholders?
Market Analysis:
# The devices segment to dominate the digital diabetes management
market during the forecast period.
# The wearable devices segment to account for the largest CAGR during
the forecast period.
# North America is estimated to grow at the highest CAGR during the
forecast period.
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Key Market Players:
Prominent players in the Digital Diabetes Management Market are Medtronic (Ireland), B. Braun (Germany),
Dexcom (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland),
Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care (Switzerland),
LifeScan (US), Tidepool (US), AgaMatrix (US), Glooko Inc. (US), and DarioHealth
(Israel).
Medtronic is the leading player in the digital
diabetes management market. The company’s leading position in this market is
attributed to its strong geographical presence and wide product portfolio,
which includes insulin pumps, smart glucose meters, CGM systems, mobile
applications, data management software, and services.
