logo
logo
Sign in

Digital Healthcare is fastest growing segment fueling the growth of Digital Diabetes Management market

avatar
Lucy Kart
Digital Healthcare is fastest growing segment fueling the growth of Digital Diabetes Management market


The global Digital Diabetes Management Market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Digital diabetes management offers advanced tools and solutions to monitor, store, and share patient's blood glucose levels, carbohydrate intake, insulin dosages, physical activity, and other related health data. It helps improve treatment decisions and supports diabetes self-management through digital connectivity and data analysis.

Market key trends:

One of the key trends in the digital diabetes management market is growing adoption of advanced technologies such as artificial intelligence and machine learning. Various players are focusing on developing AI-powered innovations to enhance diabetes management. For instance, in 2021, Insulia launched an AI-powered digital therapeutic called Molly for type 2 diabetes management. Molly uses conversational AI to coach patients on diabetes self-care activities.

Segment Analysis

The global digital diabetes management market is fragmented into product type, device type, end user, and region. Based on product type, the glucose monitoring devices segment dominated the market in 2022 owing to the growing adoption of self-monitoring blood glucose devices and continuous glucose monitoring devices among diabetic patients. Continuous glucose monitoring systems are gaining traction as they provide real-time glucose level monitoring and alerts, which helps in making timely therapeutic decisions.

Key Takeaways

Global Digital Diabetes Management Market Size is expected to witness high growth, exhibiting a CAGR of 22% over the forecast period, due to increasing digitization of healthcare services and growing awareness about diabetes self-management.

Regional analysis:

North America dominated the digital diabetes management market in 2022 due to the rising prevalence of diabetes and supportive reimbursement policies in the region. Asia Pacific is anticipated to witness the fastest growth during the forecast period owing to growing healthcare infrastructure, increasing healthcare spending, and rising diabetic population in emerging countries such as China and India.

Key players:

Key players operating in the digital diabetes management market are Abbott Laboratories, Acon Laboratories, Inc., Bayer AG, F. Hoffmann-la Roche Ltd., Johnson and Johnson, Medtronic Plc, Novo Nordisk A/S, Terumo Corporation, Dexcom, Inc., and Becton, Dickinson and Company, among others. These players are focusing on new product launches and expansion strategies to strengthen their market position. For instance, in 2022, Abbott launched FreeStyle Libre 3, the world's smallest and thinnest continuous glucose monitoring system with 14 days of wear.

Read More- https://www.ukwebwire.com/digital-diabetes-management-market-value-insights-and-forecast/ 

collect
0
avatar
Lucy Kart
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more