Digital Diabetes Management Market revenue to cross USD 54 Bn by 2027: Global Market Insights, Inc.

Major digital diabetes management market players include Abbott Laboratories, Medtronic Plc, F.Hoffmann-LA Roche Ltd, Dexcom, Inc., Tandem Diabetes, Insulet Corporation, Ypsomed, and Glooko.

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According to latest report “Digital Diabetes Management Market by Product Type (Devices, , Services), Patient Type (Type 1, Type 2), End-Use (Hospitals, Home Settings, Diagnostic Centers & Clinics), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of digital diabetes management will cross $54 billion by 2027. Rising prevalence of diabetes and growing awareness about diabetes preventive care is expected to boost the market growth.

Increasing diabetes population worldwide will foster the use of digital diabetes devices and services. According to the International Diabetes Federation, there were approximately 463 million people were living with diabetes in 2019. This number is projected to reach 700 million by 2045. Thus, with the growing diabetes population, the demand for insulin management and delivery devices will also rise during the forecast period.

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Technological advancements in digital diabetes space such as advent of artificial pancreas and connected insulin delivery devices will accelerate the digital diabetes management market expansion. novel devices allow patients in better disease management without compromising on daily activities. Furthermore, rising disposable income coupled with increasing adoption of advanced diabetes devices will augment the market value.

Smart insulin pen segment is anticipated to witness 22% growth rate till 2027. Insulin pen segment is slated to see disruption due to several products in pipeline. The smart insulin pen makers are focusing on creating a user-friendly interface for diabetes patients. These pens can record the amount of each insulin dose and transmit the data via connected Bluetooth devices. Thus, with growing innovations, the market is predicted to see robust growth during the forecast timeline.

Type 1 diabetes segment in the digital diabetes management market is estimated to attain a CAGR of 18.3% through 2027. The type 1 diabetes patients are highly dependent on insulin and require continuous monitoring of blood glucose levels. The demand for smart devices in type 1 diabetes patient will remain high owing to high acceptance of these devices. Moreover, increasing number of type 1 diabetes patients will also drive the market demand over the coming years.

Home settings segment was valued at over USD 4.5 billion in 2020. Increasing government initiatives to spread awareness about diabetes management is propelling the market growth. Growing geriatric population and user-friendly interface of these advance digital diabetes devices is contributing to the segment growth. According to the World Bank, approximately 9.9% of the total population of the world is aged 65 years and above. Thus, rising elderly pool will increase the demand for digital diabetes devices in home settings in future.

Asia Pacific digital diabetes management market is poised to expand at more than 19.5% CAGR during 2021 to 2027. Significant increase in the aged population base, rising disposable income and rising healthcare initiatives by government will fuel the market expansion. Market leaders in the industry are targeting the region on account of presence of large diabetes population and growing healthcare expenditure to diabetes in the region. In addition, increasing research and development coupled rising awareness about digital diabetes devices, the region is expected to see robust growth in future.

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Major players operating in the digital diabetes management market include Abbott Laboratories, Medtronic Plc, F.Hoffmann-LA Roche Ltd, Dexcom, Inc., Tandem Diabetes, Insulet Corporation, Ypsomed, and Glooko, Inc among several others. Key companies are adopting various business strategies such as merger & acquisitions, product innovations, and technological collaboration to enhance their business growth opportunities.

Table of Contents (ToC) of the report:

Chapter 3 Digital Diabetes Management Market Insights

3.1 Industry segmentation

3.2 Industry landscape, 2016 – 2027 (USD Million)

3.3 Industry impact forces

3.3.1 Growth drivers

3.3.2 Industry pitfalls & challenges

3.4 Growth potential analysis

3.4.1 By product type

3.4.2 By patient type

3.4.3 By end-use

3.5 COVID-19 impact analysis

3.6 Regulatory landscape

3.7 Reimbursement scenario

3.8 Porter's analysis

3.9 Competitive landscape, 2020

3.10 PESTEL analysis

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/digital-diabetes-management-market

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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