New York, NY, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Digital Diabetes Management Market by Type (Wearable Devices and Handheld Devices), by Product and Service (Devices, Digital Diabetes Management Apps, Data Management Software and Platforms, and Services), and by End-User (Individuals/Home Healthcare, Hospitals & Specialty Diabetes Clinics, Academic & Research Institutes and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, global digital diabetes management market was valued at approximately USD 5.6 billion in 2018 and is expected to generate around USD 24.5 billion by 2025, at a CAGR of around 23.6% between 2019 and 2025.
Digital diabetes management solutions offer continuous patient monitoring even at remote locations. Digital devices and apps keep a track of records, which allows physicians to advice specific treatment to patients. The global prevalence of diabetes is increasing, owing to changing dietary habits and sedentary lifestyle. Digital diabetes management solutions have gained importance as they allow long-term control and monitoring of patients’ blood glucose levels.
Browse through 54 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Digital Diabetes Management Market: By Type, Size, Share, Industry Trends, Growth, Analysis and Forecast 2018–2025”.
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The increasing prevalence of diabetes worldwide, rising geriatric population base, and growing penetration of smart devices, digital platform, and adoption of mobile apps are likely to fuel the global digital diabetes management market in the future. Additionally, technological advancements and the growing adoption of digital solutions worldwide are projected to further propel this market’s growth over the estimated timeframe. Other factors that are anticipated contribute toward the growth of the digital diabetes management market are increasing health awareness and expenditure and digitalization of healthcare systems. However, the high cost of digital devices and lack of reimbursement policies in emerging countries may hamper the digital diabetes management market globally. Alternatively, the increasing healthcare expenditure for diabetes care in emerging economies is expected to create new growth opportunities in the global digital diabetes management market in the future.
The global digital diabetes management market segments are based on type, product and service, and end-user. By type, the market is segmented into wearable and handheld devices. Wearable devices held the largest market share in 2018 globally, due to the increasing penetration of smartphone-connected wearable devices. By product and service, the market is segmented into devices, digital diabetes management apps, data management software and platforms, and services. The devices segment is sub-segmented into continuous glucose monitoring systems, smart glucose meters, smart insulin pens, and closed-loop systems/smart insulin pumps and smart insulin patches. The digital diabetes management apps are sub-classified into diabetes and blood glucose tracking apps and weight and diet management apps. Smart glucose meters held the largest market share in 2018 globally. The continuous glucose monitoring systems segment is likely to register the highest CAGR over the estimated timeframe, owing to the growing need for continuous glucose monitoring and new product launches. The demand for smart insulin pens is anticipated to gain momentum in the future owing to the increasing demand for patient-centric or personalized devices without needle-stick injuries. By end-user, the market is segmented into individuals/home healthcare, academic and research institutes, hospitals and specialty diabetes clinics, and others. The high cost of inpatient care has led to an increased preference for individual/home healthcare in the last few years.
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By region, North America dominated the global digital diabetes management market with a revenue share of about 40% in 2018. This can be due to the increasing prevalence of diabetes, growing digital platform penetration, and favorable reimbursement policies by the government Other factors that are likely to contribute toward this regional market are increasing adoption of digital platforms, rising smartphone penetration, government funding for research, and well-developed healthcare infrastructure across the region. North America is projected to exhibit high growth rate and retain its leading position in the digital diabetes management market. The U.S. and Canada are major countries in the North American digital diabetes management market. In 2018, the U.S. held the largest market share, i.e., about 75%, of this regional market. Globally, the U.S. is the largest country market. Technological advancements, large diabetic population base, increasing health awareness, and wide acceptance of digital devices for glucose monitoring in the U.S. are major factors likely to drive the digital diabetes management market in North America over the estimated timeframe.
Europe was the second largest region in the global digital diabetes management market, owing to the increasing diabetic population, government initiatives to control diabetes and obesity, and rising healthcare expenditure. UK, Germany, and France are major countries in the European digital diabetes management market. Germany held the largest revenue share, i.e., about 32%, in this regional market. UK is another prominent market for digital diabetes management market and is expected to exhibit the highest CAGR over the forecast timeframe, owing to the increasing diabetes burden and growing smartphone penetration and adoption of connected digital devices.
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Asia Pacific is projected to show the highest CAGR over the forecast time period in the global digital diabetes management market, owing to increasing geriatric population, rising diabetes prevalence, and growing awareness, healthcare expenditure, and adoption of digital platforms. Additionally, the increasing focus of major players in India and China, rising smartphone penetration, and growing adoption of digital platforms are projected to further drive the digital diabetes management solutions in the Asia Pacific region in the future. China and Japan are major countries for the Asia Pacific digital diabetes management market. India is expected to witness the highest CAGR over the forecast time period, whereas China held the largest market share of the region, i.e., about 32%, in 2018.
Latin America is another important digital diabetes management market globally and is projected to show moderate growth over the forecast time period. The Middle East and Africa region is expected to witness noticeable growth in the digital diabetes management market in the upcoming years, owing to the digitalization of the healthcare systems.
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Some key players of the global digital diabetes management market include Medtronic, Dexcom, B. Braun, Abbott Laboratories, Tandem Diabetes Care, Insulet Corporation, Lifescan Inc., Ascensia Diabetes Care, AgaMatrix, Glooko Inc., Tidepool, and Dariohealth, among others.
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This report segments the global digital diabetes management market into:
Global Digital Diabetes Management Market: By Type
Global Digital Diabetes Management Market: By Product and Service
Global Digital Diabetes Management Market: By End-User
Global Digital Diabetes Management Market: By Region
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