Digital Diabetes Management Market USD 19.98 billion by 2024

The 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. These are the major factors driving the growth of the global digital diabetes management 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.

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.

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.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global Digital Diabetes Management market?
2. What are the drivers, restraints, opportunities, and challenges in the Digital Diabetes Management Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of Digital Diabetes Management in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Diabetes Management Devices Segment:

The large share of this segment can be attributed to the growing demand for wireless and wearable devices for diabetes management, increasing acceptance of smart insulin pumps and pens for insulin delivery, and the increasing awareness about continuous glucose monitoring in patients.

Wearable Devices Segment:

The increasing awareness about glucose monitoring; growth in the number of regulatory approvals for CGM systems; development of advanced wearable products such as closed-loop pump systems and smart insulin patches (and pipeline devices such as contact lenses and smartwatches synced with glucometers); and the growing adoption of smart insulin pumps and insulin patches for self-insulin delivery are the major factors driving the growth of the wearable devices market.

Regional Growth and Demand Analysis:

North America to dominate the market. This can primarily be attributed to the high adoption of connected diabetes management devices and apps, growing demand for closed-loop systems, high adoption of remote online coaching services for diabetes management, favorable reimbursement policies, and government initiatives to promote digital health in the region.

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Key Players:

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) are key players in Digital Diabetes Management Market.