Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The "Digital Diabetes Management Market by Product, Device Type, End User - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The digital diabetes management market is projected to reach USD 19,989.7 million by 2024 from an estimated USD 6,877.1 million in 2019, at a CAGR of 23.8% during the forecast period.
The rising prevalence of diabetes has increased the focus on the development and adoption of better solutions for diabetes care. Also, advancements in technologies have ensured the introduction of highly flexible solutions in the market. These are the major factors driving the growth of the global digital diabetes management market.
The increasing adoption of cloud-based enterprise solutions and the growing use of connected devices and apps are some of the other major factors supporting market growth. However, factors such as the high device costs, lack of reimbursement in developing countries, and the higher acceptance of traditional diabetes management devices are expected to restrain the growth of this market during the forecast period.
North America accounted for the largest share of 39.8% of the global digital diabetes management market. This regional segment is also estimated to grow at the highest CAGR of 26.7% during the forecast period. This can primarily be attributed to the high adoption of connected diabetes management devices and apps, growing demand for closed loop systems, high adoption of remote online coaching services for diabetes management, favorable reimbursement policies, and government initiatives to promote digital health in the region.
The digital diabetes management market is a fragmented and competitive market with a large number of players. Partnerships, collaborations, and agreements were the key growth strategies adopted by major players to expand their presence in this market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Digital Diabetes Management Market Overview
4.2 Asia Pacific: Digital Diabetes Management Market, By Product & Service, By Country, 2018
4.3 Geographic Snapshot of the Digital Diabetes Management Market
4.4 Geographic Mix: Digital Diabetes Management Market
4.5 Digital Diabetes Management Market: Developing vs Developed Markets
5 Market Overview
5.1 Introduction
5.2 Market Dynamics: Impact Analysis
5.3 Drivers
5.3.1 Increasing Prevalence of Diabetes
5.3.2 Technological Advancements
5.3.3 Growing Adoption of Cloud-Based Enterprise Solutions for Diabetes Management
5.3.4 Increasing Penetration of Digital Platforms and Adoption of Mobile Apps for Diabetes Management
5.4 Restraints
5.4.1 High Cost of Devices and Lack of Reimbursement in Developing Countries
5.4.2 Higher Acceptance of Traditional Diabetes Management Devices
5.5 Opportunities
5.5.1 Increasing Diabetes-Related Health Expenditure in Emerging Economies
5.6 Challenges
5.6.1 Low Penetration in Developing Economies
5.6.2 Lack of Data Security
6 Industry Insights
6.1 Industry Trends
6.1.1 Growing Demand for Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems
6.1.2 Collaborations
6.1.3 Increasing Demand for Flash Glucose Monitoring (FGM) Systems
6.2 Regulatory Analysis
6.2.1 North America
6.2.1.1 US
6.2.1.2 Canada
6.2.2 Europe
6.2.3 Asia Pacific
6.2.3.1 Australia
6.2.3.2 Japan
6.2.3.3 China
6.2.3.4 India
6.2.4 Latin America
6.3 Reimbursement Scenario
6.4 Strategic Benchmarking
6.4.1 Digital Diabetes Management Devices and Services Market: Product Portfolio Analysis
6.4.2 Digital Diabetes Management Applications and Software/Platforms Market: Product Portfolio Analysis
7 Digital Diabetes Management Market, By Product & Service
7.1 Introduction
7.2 Devices
7.2.1 Smart Glucose Meters
7.2.1.1 Falling Prices and Technological Innovations to Drive the Growth of This Segment
7.2.2 Continuous Glucose Monitoring Systems
7.2.2.1 This Segment is Expected to Grow at the Highest CAGR During the Forecast Period
7.2.3 Smart Insulin Pens
7.2.3.1 Increasing Demand for Personalized Or Patient-Centric Devices Without Needle-Stick Injuries to Drive This Segment
7.2.4 Smart Insulin Pumps/Closed Loop Systems & Smart Insulin Patches
7.2.4.1 Benefits of Smart Insulin Pumps and Closed Loop Systems Such as Improved Glucose Control, Convenience, and Flexibility to Drive Market Growth
7.3 Digital Diabetes Management Apps
7.3.1 Diabetes & Blood Glucose Tracking Apps
7.3.1.1 Growing Adoption for Blood Glucose Tracking Apps and Increasing Awareness of Diabetes Among Patients is Driving Market Growth
7.3.2 Weight & Diet Management Apps
7.3.2.1 Growing Obese Population and the Increasing Need to Prevent Diabetes to Drive This Market
7.4 Data Management Software and Platforms
7.4.1 Growing Demand for the Management of Patient Data Generated From Diabetes Management Devices to Drive Market Growth
7.5 Services
7.5.1 Rising Global Adoption of Remote Online Coaching Services Among Diabetes Patients Drives the Growth of This Segment
8 Digital Diabetes Management Devices Market, By Type
8.1 Introduction
8.2 Wearable Devices
8.2.1 Wearable Devices to Contribute the Largest Share in 2019; This Trend is Expected to Continue During the Forecast Period
8.3 Handheld Devices
8.3.1 Increasing Demand for Remote Monitoring & Penetration of Smartphone-Connected Handheld Devices to Boost Market Growth
9 Digital Diabetes Management Market, By End User
9.1 Introduction
9.2 Self/Home Healthcare
9.2.1 High Cost of Inpatient Care has Fueled the Preference for Self/Home Care
9.3 Hospitals & Specialty Diabetes Clinics
9.3.1 Rising Demand for Poc Testing in Hospitals Boosts Market Growth in This Segment
9.4 Academic & Research Institutes
9.4.1 Increase in Pipeline Products & Product Innovation for Diabetes Management Enhanced the Market Growth of This Segment
10 Digital Diabetes Management Market, By Region
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Leadership Mapping, 2018
11.4 Vendor Inclusion Criteria
11.5 Vendor Dive
11.6 Competitive Situations and Trends
12 Company Profiles
12.1 Medtronic PLC
12.2 F. Hoffmann-La Roche
12.3 Dexcom, Inc.
12.4 Ascensia Diabetes Care Holdings Ag.
12.5 Abbott Laboratories
12.6 B. Braun Melsungen AG
12.7 Tidepool
12.8 Glooko, Inc.
12.9 Lifescan, Inc. (A Subsidiary of Johnson & Johnson)
12.10 Agamatrix, Inc.
12.11 Tandem Diabetes Care, Inc.
12.12 Insulet Corporation
12.13 Dariohealth Corporation
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