Digital Diabetes Management Market by type, Product: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to this report titled, 'Digital Diabetes Management Market by Type, Product and Region: Global Opportunity Analysis and Industry Forecast, 2019-2026' the global digital diabetes management market was valued at $3.3million in 2018 and is projected to reach $17.1 billion by 2026, registering a CAGR of 22.5% from 2019 to 2026.

Digital diabetes management allows patients as well as healthcare professionals to analyze and monitor the blood glucose level on day-to-day basis. These devices help patients in deciding their regular food intake and insulin dosages. Thus, advancements in smartphones including augmented & virtual reality has helped patients to better manage their diabetic conditions and provide solutions before affecting the life of the patient severely.

Increase in adoption of smartphones integrated with healthcare applications and a rise in diabetic population are some of the factors responsible for propelling the market growth in coming years. However, data privacy concerns among the users and lack of awareness regarding the digital apps for monitoring diabetes in the developing countries are expected to hinder the market growth. On the contrary, emerging markets are supposed to provide newer opportunities for the growth of global digital diabetes management market.

The global digital diabetes management market is segmented based on type, product and region. Based on type, the market is categorized into h and held devices and wearable devices. The wearable devices segment is anticipated to grow in the forecast period owing to the advantages it offers such as behavioral interventions to people at their place, better accessibility, scalability, and the ability to test anywhere. Based on product, the digital diabetes management market divided into continuous blood glucose monitoring systems, smart glucose meter, smart insulin pumps, smart insulin pens and apps. The Continuous blood glucose monitoring systems segment is likely to grow in coming future owing to the provision in the devices such as real time values of the glucose levels and alerts to the patient in the event of hypo or hyperglycemia.

Based on region, the market is further analyzed across North America, Europe, Asia-Pacific and LAMEA. North America holds a dominant share in the global digital diabetes management market due to increasing awareness regarding digital health and large number of patients suffering from chronic illness. Moreover, factors such as well-developed supply-side infrastructure, rapid acceptance of innovative technologies, and adequate reimbursements are further driving the market growth.

According to Onkar Sumant, Manager, Healthcare, “Rising adoption of smartphones integrated with healthcare applications and surge in diabetic population are some of the factors responsible for propelling the market growth in coming years. On the contrary, data privacy concerns among the users is one of the major hindrancesfor the growth of the market.”

The report provides a comprehensive analysis of the key players operating in the global digital
diabetes management market, which include Abbott laboratories, ACON Laboratories, Inc., Bayer AG, Becton, Dickinson and Company, Dexcom, Inc, F. Hoffmann-La Roche Ltd., Johnson and Johnson, Medtronic Plc, Novo Nordisk A/S, and Terumo corporation. The other players in the value chain (companies not included in the report) include Insulet Corporation, Tandem Diabetes Care, Ascensia Diabetes Care, and LifeScan.

KEY FINDINGS OF THE STUDY

• By type, the wearable devices segment occupied 55.45% share of the global digital diabetes management market in 2018.
• By product, application “App’s” segment is anticipated to grow with the highest CAGR throughout the forecast period.
• North America accounted for approximately 40.0% of the global digital diabetes management market share in 2018.

Companies Mentioned

• Abbott laboratories
• ACON Laboratories Inc.
• Bayer AG
• Becton
• Dickinson, Company
• Dexcom Inc
• F. Hoffmann-La Roche Ltd.
• Johnson, Johnson
• Medtronic Plc
• Novo Nordisk A/S
• Terumo corporation

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.