Digital Diabetes Management Market - Insights for Business Growth Report 2024-2032

Digital Diabetes Management Market Synopsis:

Digital Diabetes Management Market Size Was Valued at USD 11.7 Billion in 2023, and is Projected to Reach USD 23.78 Billion by 2032, Growing at a CAGR of 8.2% From 2024-2032.

The Digital Diabetes Management Market is the industry that undertakes products that help a patient with diabetes to live and manage the disease better. They include mobile applications, wearable technology devices, remote consultation services, doctor prescriptions, cloud-based software, data analytics that offer constant glucose level tracking, insulin dosage suggestion, health plans and cares. These technologies are expected to assist patients in monitoring their blood glucose, prevent and mitigate adverse effects, and optimise the therapy outcomes to enhance the quality of the patient’s life through evidence-based patient-specific approaches.

The market for digital diabetes management is expanding significantly because of the growing worldwide prevalence of diabetes and the global need for highly effective, low-cost and personal solutions for managing chronic diseases. Diabetes is a chronic disease which is globally experienced and type 2 diabetes in specific, needs consistent and regular checkup along with medication dosage. Patients are able to monitor their glucose level, food intake, physical activity and such things as use of insulin through apps and wearables making patients responsible of their own health.

This market has experienced some progress in the last few years through technological inventions like CGM, deep analytics, AI and machine learning to enhance the diabetic care plans. Also, the recent crisis connected with COVID-19 has boosted the use of asynchronous communications in the sphere of healthcare, which has provided an opportunity for new types of digital health solutions. Healthcare providers and governments around the world have been adopting these technologies in routine diabetes care due to their effectiveness in managing cost of human resource within the health systems ad better health outcomes. As connectivity improves along with data protection and the synthesis of multiple health data, the compound at large will continue to experience advances because the world’s population ages and healthcare needs increase in terms of scale and infrastructure for efficiency.

Digital Diabetes Management Market Trend Analysis:

 Rise of AI and Data Analytics in Diabetes Management

• Another interesting trend that have been observed in the global market for digital diabetes management solutions is the use of artificial intelligence and big data analysis in the processes linked with diabetes treatment. Current AI technologies can actually help review patient data acquired from devices for instance the CGMs and insulin pumps in addition to wearable fitness trackers, and give predictions and recommendations. For instance, AI algorithms can estimate changes in the glucose tiers and suggest proper insulin dosages that type 1 diabetes patient should take in order to avoid severe cases such as hypoglycemia. Substituting decision-making based on diagnosis to predictive care offers a proactive, personalized, high-value management of diabetes. Further, new advancements in the market and constant innovation in the artificial intelligence technology is making them even more precise, faster and capable of handling even larger amount of data which should further fuel the market growth.

 Expansion into Emerging Markets

• One of the great opportunities for digital diabetes management solutions is the increasing access to these solutions in developing countries. Despite the increased usage of digital diabetes devices in North America and Europe, Asian Pacific, Latin America and Middle East are gradually emerging as areas of interest for the market. Increasing incidence of diseases such as diabetes, combined with increasing rates of internet and mobile phone use an increasing middle-class population in these regions offers firms the possibility of establishing new low-cost, easily accessible digital diabetes management services. In addition, more countries located in these regions have started embracing healthcare System and Digital Healthcare Technologies expansions, which are good market conditions. That’s why the opportunity to adapt digital diabetes management tools to the cultural, economic, and clinical contexts of these regions could be the major growth catalyst for those companies seeking for internationalization.

Digital Diabetes Management Market Segment Analysis:

Digital Diabetes Management Market Segmented on the basis of Product, type, and end user.

By Product, Smart glucose meter segment is expected to dominate the market during the forecast period

• The continuous blood glucose monitoring system segment dominated the market in terms of revenue accounting for more than 40.6% in 2022 due to features like connectivity to smart devices that work as display devices. Also, it can be programmed to generate individualised notifications to patients concerning their detected glucose levels at specific ranges. From the context of product, market has classified into smart insulin pen market, continuous blood glucose monitoring systems, smart glucose meters, smart insulin pumps and mobile applications. Diabetes apps include Digital diabetes management apps and Weight & Diet management apps.
• It is also important to point that the smart insulin pens segment is expected to develop at the highest CAGR of 11.4 % over the forecast period. The growth in the segment can be highly contributed by the rising number of products in the market and the technological advancement of artificial intelligence. The market is driven by many players, most of whom aim at creating new smart insulin pens, growing their market share, and offering diverse smart insulin pen products. For example, in March 2022, Novo Nordisk introduced smart insulin pens into the UK market. Diabetes patients who receive care through the NHS have been given a brand new monitoring and recording system.

By Type, Wearable devices segment expected to held the largest share

• The wearable devices segment generated the highest revenue of $8.2 billion in 2022 and will witness the highest CAGR of 8.4% during the analysis period. The segment is expected to witness significant growth due to the emerging technologies in the medical field particularly in artificial intelligence, an introduction of closed-loop pump systems and smart insulin patches, and increased usage of self-insulin delivery devices in the global diabetes management market. For the purpose of classification by type it differentiates the market into wearable devices and handheld devices.
• The handheld devices segment also occupies a significantly large revenue share in the year 2022 and is growing due to several reasons such as technological innovation, and product development. Handheld diabetes devices’ capabilities include monitoring and logging blood glucose levels, determining the amount of insulin the patient requires, receiving patient data through a user interface, storing the data as well as performing others. In June 2018, Insulet got the green light from the Food and Drug Administration for the handheld ‘Omnipod DASH’ system. A personalised diabetes manager with Wi-Fi touch screen will enable the software to be updated remotely.

Digital Diabetes Management Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• Analyzing by the geographical region, North America has commanded the larger share in the global digital diabetes management market, and by 2023 its share is expected to remain large due to factors inclusive of high incidence of diabetes, well-established preferred-diabetes technology systems, and high acceptance of digital health. However, partly owing to a wider healthcare system, a higher number of diagnosed diabetics and eradicating conventional healthcare US monopolizes this market.
• The region enjoys a favourable government involvement in implementing digital health services due to high investment in technology by the government and other stakeholders. However, North America shares a more than 40% market in 2023 owing to rising demand of CGM devices, insulin pump and mobile applications for better diabetes management. The dominance of this region can also be attributed to to the existence of this health care infrastructure and to the main market players.

Active Key Players in the Digital Diabetes Management Market:

•  Abbott Laboratories (USA)
•  Ascensia Diabetes Care (Switzerland)
•  Cerner Corporation (USA)
•  DarioHealth (Israel)
•  Dexcom, Inc. (USA)
•  Glooko (USA)
•  Insulet Corporation (USA)
•  Johnson & Johnson (USA)
•  Livongo Health (USA)
•  Medtronic (Ireland)
•  Novo Nordisk (Denmark)
•  Omada Health (USA)
• One Drop (USA)
•  Roche Diabetes Care (Switzerland)
• Tandem Diabetes Care (USA), and Other Active Players.