Pune, India, Feb. 15, 2021 (GLOBE NEWSWIRE) -- According to the report, Digital Diabetes Management market size is projected to reach remarkable value by 2026. Digital Diabetes Management Market to Benefit Strongly; Introduction of Digital Platforms by Major Pharma Companies to Expedite Business.
The rising demand for wearable devices is expected to contribute business opportunities for the market. The rising cases of diabetes are likely to foster healthy growth of the market in the forthcoming years.
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Evolving Consumer Lifestyle to Enhance Market Sales
The growing incidence of diabetes is expected to fuel demand for digital diabetes management, in turn aiding the market. According to the World Health Organization (WHO), an estimated 422 million people all over the globe have diabetes.
The growing awareness about controlling and managing diabetes among the general population is expected to enable speedy expansion of the market. Lack of exercise, smoking, alcoholism are some of the factors that lead to diabetes. The introduction of a digital platform for effective diabetes management by major pharmaceutical and biotechnology companies is expected to promote the growth of the market.
The growing use of diabetes tracking apps among patients to track diet and stable glucose range can further exhibit the healthy growth of the market. The increasing availability of telehealth platform and government initiatives for the adoption of digital health are likely to uplift the market potential in the forthcoming years. In addition, the launch of user-friendly smartpens, pumps, and apps to help diabetes patients is likely to have an excellent impact on the market. Nonetheless, the lack of awareness among patients in emerging countries is expected to restrict the growth of the market.
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Favorable Reimbursement Policies to Aid Growth in North America
Geographically, the global digital diabetes management market is segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is expected to lead the market owing to the growing adoption of digital platforms to monitor diabetes. The favorable reimbursement policies and government initiatives for digital health are expected to create opportunities for the market.
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Europe is expected to witness substantial growth during the forecast period due to the emergence of start-ups in the region. With the increasing prevalence of diabetes in emerging countries such as India, China, it is expected to spur opportunities for the market in Asia Pacific. Latin America and Middle East & Africa are expected to experience a low growth rate owing to the lack of awareness and lesser adoption of digital platforms.
- Care Innovations, LLC
- GlucoMe
- Medtronic
- Novo Nordisk A/S
- F. Hoffmann-La Roche Ltd
- Dexcom, Inc.
- Abbott.
- Insulet Corporation
- Bayer AG
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Global Digital Diabetes Management Market Segmentation:
By Device Type:
- Hand Held
- Wearable
By Product:
- Smart Glucose Meter
- Continuous Glucose Monitoring Systems
- Smart Insulin Pens
- Smart Insulin Pumps
- Others
By End User:
- Hospitals
- Home Healthcare
- Others
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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Digital Diabetes Management Market Size, Share & Industry Analysis, By Device Type (Hand Held, Wearable), By Product (Smart Glucose Meter, Continuous Glucose Monitoring Systems, Smart Insulin Pens, Smart Insulin Pumps, Others), By End User (Hospitals, Home Healthcare, Others) and Regional Forecast, 2021-2028
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