Digital Diabetes Management Market size was valued US$ 11.84 billion in 2022 and is estimated to reach US$ 29.76 billion by 2030, growing at a CAGR of 13.65% during the forecast period (2023-2030). Diabetes is a metabolic disease that occurs due to high level of blood sugar levels. The result of either the pancreas does not produce enough insulin or the body cannot effectively use the insulin it produces.
In recent years, the global digital diabetes management market has witnessed a series of product launches and approvals that have contributed to its growth. DataM Intelligence's in-depth market analysis reveals the major digital diabetes management market drivers, challenges, trends, and opportunities.
Our market intelligence report evaluates the market size, growth, and share, providing crucial insights for businesses to make informed decisions and capitalize on the existing and upcoming opportunities in the digital diabetes management market.
A Snapshot on Digital Diabetes Management Market
Digital diabetes management has revolutionized the medical devices field, offering a transformative approach to diabetes care. By seamlessly integrating technology and health, it enables real-time monitoring of glucose levels, promoting proactive and personalized interventions.
This innovation fosters improved patient engagement, treatment adherence, and data-driven decision-making, elevating overall disease management and quality of life. As a result, digital diabetes management stands as a pivotal advancement, promising enhanced outcomes and reduced healthcare burdens.
Market Dynamics and Trends
Rising Prevalence of Diabetes and Various New Technological Advancements are Expected to Drive Market Growth
The rising prevalence of diabetics drives the market growth with a rising geriatric population, sedentary lifestyle, and obesity. According to the International Diabetes Federation, roughly 463 million persons aged 20 to 79 globally have diabetes. This figure is predicted to climb to 700 million by 2045.
The market is seeing the introduction and approval of new digital diabetes solutions. For example, in May 2022, Roche Diabetes Care introduced Accu-Fine pen needles that allow a nearly painless and seamless insulin administration technique. It attempts to improve diabetes treatment by making insulin administration more convenient for diabetic people.
High Cost of Diabetes Management Products is Expected to Hamper the Market Growth
The high cost of digital diabetes management solutions, such as smartphone-connected insulin pumps, sensor-based continuous glucose monitors, digital self-monitoring blood glucose meters, and so on, hampers the market. Furthermore, the existence of adverse reimbursement conditions in a few countries may slow market expansion.
Key Development
- In Aug 2022, Insulet Corporation, leader in tubeless insulin pump technology announced U.S. FDA clearance for automated Omnipod 5 insulin delivery system for children aged 2 years or above having type 1 diabetes.
Market Key Players
The global digital diabetes management market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition.
The key players in the digital diabetes management market are:
- Medtronic Plc
- F. Hoffmann-La Roche Dexcom, Inc.
- Abbott Laboratories
- B. Braun Melsungen AG
- Lifescan, Inc.
