New York, NY, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Artificial Intelligence in Diabetes Management Market by Device (Glucose Monitoring Devices, Diagnostic Devices, Insulin Delivery Devices, and Other Devices) and by Technique Type (Case-based Reasoning and Intelligent Data Analysis): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global artificial intelligence in diabetes management market accounted for USD 82.72 million in 2017 and is expected to reach approximately USD 1422.52 million by 2024, growing at a CAGR of around 47.23% between 2018 and 2024.
Diabetes is a group of metabolic disorder characterized by a lack of production of a sufficient amount of insulin by the human pancreas. At present, the major part of the world is suffering from type 2 diabetes to a greater extent. Genetics and an unhealthy lifestyle are considered as major causes of diabetes mellitus. Government programs are running across the globe in order to control diabetes. Many software companies come with an idea of various applications in diabetes management which would help in controlling and managing diabetes. Increasing use of mobile phones allows these companies to design apps which directly or indirectly help to manage the diabetes mellitus.
Browse through 35 Tables & 10 Figures spread over 160 Pages and in-depth TOC on “Global Artificial Intelligence in Diabetes Management Market by Type, Size, Share, Trends and Forecast, 2017 – 2024”.
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The global artificial intelligence in diabetes management market is expected to witness the excellent growth within the forecast period. The growth is mainly associated with the increasing prevalence of geriatric population across the world. In addition, rising prevalence of metabolic disorder coupled with increasing adoption of torpid or sedentary lifestyle also contributes in driving the growth of artificial intelligence in diabetes management market. However, few factors such as government regulation, lack of awareness, and high cost are the key restraints limiting the growth of artificial intelligence in diabetes management market. Nonetheless, various research and technological advancements are considered as better opportunities that help in bringing new growth avenue for artificial intelligence in diabetes management market within the forecast period.
Based on device type, the global artificial intelligence in diabetes management market is segmented into four types: glucose monitoring devices, diagnostic devices, insulin delivery devices, and other devices. Glucose monitoring devices segment accounted for the largest market share in the year 2017 and is expected to remain dominant throughout the forecast years.
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Based on technique type, the global artificial intelligence in diabetes management market is classified into two types’ case-based reasoning and intelligent data analysis. Case-based reasoning accounted for the largest market share in the year 2017. This growth is attributed to an increasing number of diabetes cases across the world with the different type of causes.
North America and Europe region are the most attractive markets for artificial intelligence in diabetes management market and are expected to remain leading regions within the forecast period. North America is the largest consumer and has gained more than 42% of world market share followed by Europe. The demand for artificial intelligence in diabetes management in both regions is growing continuously due to the presence of advanced infrastructure in these regions. Recent technological advancements in the healthcare sector are considered as a major opportunity in these regions for the growth of artificial intelligence in diabetes management market within the forecast period.
Asia Pacific region held more than 26% of total world demand for artificial intelligence market in 2017. Emerging economies of Asia Pacific regions like China, India, and Indonesia are the major contributors in terms of consumption. China holds the first position in terms of purchasing power parity across the world. This makes China the largest and biggest consumer of artificial intelligence products followed by India. The demand for artificial intelligence in diabetes management market in Asia Pacific is anticipated to grow at a significant CAGR in terms of revenue generation. Currently, India and China are the two countries which hold the largest pool of diabetic patients across the world.
Increasing requirement of such products for various commercial purposes in hospitals across the world is expected to open growth avenues for the market in the near future. Technological advancement is considered as the major factor which helps in driving the global artificial intelligence in diabetes management market.
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The report covers company profiles and company market share, reimbursement policy of the key participants operating in the global artificial intelligence in diabetes management market. Some of the key players included in the report are Apple Inc., Diabnext, Glooko Inc., Google Inc., IBM Corporation, Tidepool, and Vodafone Group Plc.
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This report segments the global artificial intelligence in diabetes management market as follows:
Global Artificial Intelligence in Diabetes Management Market: Device Type Analysis
Global Artificial Intelligence in Diabetes Management Market: Technique Type Analysis
Global Artificial Intelligence in Diabetes Management Market: Regional Segment Analysis
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