Global Digital Diabetes Management Market Size, Share & Industry Trends Analysis Report By Type (Wearables and Handheld Devices), By Product & Service, Application, By End User, By Regional Outlook and Forecast, 2022 - 2028
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Market Report Description
The Global Digital Diabetes Management Market size is expected to reach $29.5 billion by 2028, rising at a market growth of 12.0% CAGR during the forecast period.
Diabetes is a chronic disease in which the body's glucose levels rise due to decreased insulin secretion from the pancreas and insulin's inability to keep blood glucose levels stable. Type 1 diabetes, Type 2 diabetes, and gestational diabetes are the three major kinds of diabetes. Type 2 diabetes is the most frequent type of diabetes in today's world. Hyperglycemia is a medical term for when the body's glucose level rises, whereas hypoglycemia is a medical term for when the glucose level falls.
Diabetes has the potential to cause a wide range of other health issues, including hyperosmolar hyperglycemia, diabetic ketoacidosis, chronic renal disease, several types of cardiovascular disease, and even mortality. Diabetes management includes the use of connected devices, application-driven applications, test strip supplies, and patient education on how to properly manage blood glucose levels. Certain apps and devices aid in the tracking and keeping of records, allowing physicians to provide the best advice for effective patient treatment. Digital diabetes management systems have become increasingly important for long-term monitoring and control.
The increasing prevalence of diabetes has raised the focus on developing and implementing better diabetes care solutions. Furthermore, technological improvements have resulted in the introduction of highly adaptable solutions to the market. Other important drivers driving market expansion are the increased acceptance of cloud-based enterprise solutions and the expanding use of linked devices and apps.
COVID-19 Impact Analysis
The COVID-19 pandemic might have a long-term positive impact on the digital diabetes management market. In early 2020, the COVID-19 pandemic had a negative impact on the digital diabetes management business, since most hospitals and specialty diabetes clinics, as well as academic and research institutes, were forced to close due to lockdowns and quarantine regulations in many regions of the world. All non-essential treatments were postponed as a result, and the number of outpatient cases dropped dramatically during this time.
Market Growth Factors
Rising Incidences Of Diabetes
Diabetes is anticipated to become the sixth major cause of mortality by 2030, according to the WHO. Stress, sedentary lives, bad diets, and obesity are all key risk factors for diabetes. Physiological changes associated with aging play a substantial role in diabetes risk. Diabetes prevalence, for example, rises with age, according to the International Diabetes Federation. As a result, adults over the age of 65 had the highest predicted prevalence. Adults aged 20–24 years had the lowest diabetes prevalence (2.2 percent in 2021). Diabetes prevalence among persons aged 75–79 years was anticipated to be 24.0 percent in 2021 and is expected to rise to 24.7 percent by 2045.
The medical device industry has seen significant technological innovations in the field of diabetes care over the last decade, including the introduction of focused sensor-based CGM technology, implantable digital diabetes management devices, closed-loop systems, and wearable smartphone-based diabetes management devices. Technologically enhanced systems have enhanced the capacity to manage diabetes and made it possible to achieve tight control while giving patients, children, and their families a more flexible schedule and food.
Market Restraining Factors
Expensive Devices And Lack Of Reimbursement In Developing Countries
Insulin delivery equipment, such as smartphone-connected insulin pumps, range in price from USD 4,500 to $6,500. Furthermore, sensor-based continuous glucose monitors have an average selling price of USD 1,000–1,400, with sensors needing to be replaced every few days. Digital self-monitoring blood glucose meters range in price from $15 to $20. Because of the high initial cost and frequent use of accompanying consumables (which necessitates recurrent purchases), modern devices are out of reach for a considerable majority of end-users, especially those in poor countries with unfavorable reimbursement scenarios.
On the basis of type, the digital diabetes management market is categorized into Handheld Devices and Wearables. The handheld devices segment obtained a substantial revenue share in the digital diabetes management market in 2021. This is due to the compact nature of these devices. Any portable device that may be carried and held in one's palm is referred to as a handheld. A handheld diabetes device can be any computing or electrical gadget that aids diabetics in performing daily tests. These gadgets are used to keep track of a patient's glucose levels in order to provide better care.
Product & Service Outlook
Based on product & service, the digital diabetes management market is segmented into Devices, Applications, Data Management Software & Platforms, and Services. The devices segment acquired the largest revenue share in the digital diabetes management market in 2021. This is due to the expanding demand for wireless and wearable devices for diabetes care, the growing adoption of smart insulin pumps and pens for insulin delivery, and the growing awareness of continuous glucose monitoring in patients.
End User Outlook
Based on End User, the digital diabetes management market is fragmented into Self/Home Healthcare, Hospitals & Specialty Diabetes Clinics, and Academic & Research Institutes. The hospitals and specialty diabetes clinics segment procured a substantial revenue share in the digital diabetes management market in 2021. This is due to hospitals and specialty clinics providing top quality health services to their patients. The diabetic specialty clinic assists diabetics in better managing their disease and achieving better health outcomes. Diabetes is one of the most common diagnoses at WFC, with hundreds of patients fighting to control their blood sugars. However, the adverse effects can be reduced with proper prevention and medical care.
|Market size value in 2021||USD 13.5 Billion|
|Market size forecast in 2028||USD 29.5 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 12% from 2022 to 2028|
|Number of Pages||332|
|Number of Tables||535|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Product & Service, End User, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the digital diabetes management market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America acquired the largest revenue share in the digital diabetes management market in 2021. This is due to rising diabetes prevalence, technological advancements in digital diabetes management solutions, an increase in the number of smartphone users in the country, high penetration of digital platforms, growing adoption of cloud-based enterprise solutions for diabetes management, increased use of connected devices and apps for diabetes management, and a growing focus on improving the quality of care provided to patients.
Free Valuable Insights: Global Digital Diabetes Management Market size to reach USD 29.5 Billion by 2028
KBV Cardinal Matrix - Digital Diabetes Management Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; F. Hoffmann-La Roche Ltd. is the major forerunner in the Digital Diabetes Management Market. Companies such as Medtronic PLC, Abbott Laboratories and Novo Nordisk A/S are some of the key innovators in Digital Diabetes Management Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Abbott Laboratories, Terumo Corporation, F. Hoffmann-La Roche Ltd., DexCom, Inc., Novo Nordisk A/S, ACON Laboratories, Inc., Bayer AG, B. Braun Melsungen AG, and Azumio, Inc.
Recent Strategies Deployed in Digital Diabetes Management Market
» Partnerships, Collaborations and Agreements:
- Apr-2022: Abbott formed a partnership with CamDiab and Ypsomed. Under the partnership, the three companies aimed to develop and commercialize an integrated automated insulin delivery (AID) system to lessen the difficulties of round-the-clock diabetes for people with diabetes. The partnership decided to focus on European countries in the beginning. The novel integrated AID system would be developed to connect Abbott's FreeStyle Libre 3 sensor, the world's smallest and most accurate continuous glucose monitoring sensor with readings every minute, to CamDiab's CamAPS FX mobile app, which would connect with Ypsomed's mylife YpsoPump – creating a smart, automated process to offer insulin based on real-time glucose data.
- Mar-2022: Terumo Corporation teamed up with Glooko, a key global player in data management, remote patient monitoring, and mobile apps for people with chronic conditions. Under the collaboration, both companies announced a technology integration to offer novel diabetes data sharing solutions globally. The new integration is expected to allow diabetes patients to send recorded data from MEDISAFE WITHTM insulin patch pump to the Glooko platform, this way, enabling them to visualize insulin dosage, food, and activities in graphs more conveniently and to realize personalized remote patient monitoring and patient care more efficiently.
- Feb-2022: Terumo Corporation signed an agreement with Diabeloop, a French company that develops creative solutions, integrating therapeutic artificial intelligence, to automate the treatment of type 1 diabetes. As per the agreement, these companies aimed to deliver automatic insulin delivery (AID) solutions in Europe. The new agreement enabled both companies to keep improving diabetes care with a real effect on clinical results while providing safe and highly efficient personalized solutions.
- Dec-2021: Novo Nordisk signed an agreement with ALCOR, a France-based company that specializes in the design, development, and production of innovative medical devices. As per the agreement, both companies aimed to work together to develop and distribute a Mallya smart add-on device for the Novo Nordisk FlexTouch pen utilized by diabetes patients.
- May-2021: F. Hoffmann-la Roche teamed up with Ellerca Health, a company based in Canada devoted to improving patient care through innovation and technology. Under the collaboration, both companies launched Accu-Chek + 360Care, integrating Roche's Accu-Chek Guide blood glucose meter, customized home delivery of testing strips, and Ellerca's self-management digital program, 360Care, which enables patients to manage their treatment schedule with access to a bunch of health coaches. This collaboration offered patients a fully personalized and combined solution that turns handling the treatment process into a breeze. The offer included the Accu-Chek Guide blood glucose meter, access to testing strips – that are delivered directly to patients' homes, and health coaching from a diabetes nurse educator, social worker, psychologist, and/or nutritionist.
- Apr-2021: Dexcom entered into a partnership with Welldoc, an innovator in digital health that is revolutionizing chronic condition management. Under the partnership, both companies launched a new integrated offering to propel enhanced health for people with Type 2 diabetes. Welldoc provided its BlueStar digital health solution and the Dexcom G6 CGM system as a unified platform offering for chosen employers and health systems. The partnership enabled them to combine the two most difficult, and often independent, components of diabetes management - glucose tracking and the effect of lifestyle choices - for the first time. The new app experience helped users handle multiple facets of their health while also enhancing data sharing with their care team.
- Jul-2020: Abbott Laboratories teamed up with 1mg, an online pharmacy healthcare platform providing company based in India. Under the collaboration, 1mg made Abbott's continuous glucose monitoring products available online, including its professional flash glucose monitoring system, FreeStyle Libre Pro. Patients in India were enabled to upload a healthcare practitioner's prescription and buy the product online on 1mg. An on-site phlebotomy service was offered at the patient's home with a phlebotomist helping the patient manage the sensor and note readings of the data after 14 days, allowing them to begin using the device.
- Feb-2020: Abbott entered into a partnership with Insulet Corporation, an innovative medical device company based in the USA. Under the partnership, Abbott integrated its glucose-sensing technology with an automated insulin delivery system for patients with diabetes. Abbott's FreeStyle Libre system became compatible with Insulet’s Omnipod Horizon, to provide personalized automated insulin delivery and care for people living with diabetes. The combined technology works via an app on users' smartphones and operates by transferring glucose data from the sensor to the pod. The pod then utilizes an embedded algorithm to automatically alter insulin delivery without any additional devices. The technology's regular automated insulin delivery method enables users to manually take a dose of fast-acting insulin, or bolus, before meals to guarantee optimal performance. The integrated system is also projected to be the first of its kind with a disposable wearable sensor and pump.
» Product Launches and Product Expansions:
- Mar-2022: Medtronic has launched MiniMed 780G system in India. The MiniMed 780G system is a next-generation closed-loop insulin pump system for the treatment of type 1 diabetes in people aged seven to 80 years. The system automates the delivery of both basal insulin and correction boluses every five minutes to help people with diabetes avoid highs and lows with greater ease. The MiniMed 780G system enables the personalisation of glucose goals with an adjustable target setting as low as 100 mg/dL — lower than any other advanced hybrid closed-loop system — and is designed to help stabilise blood sugar levels and further improve glucose control.
- Jan-2022: Drug firm Novo Nordisk India has launched a first of its kind diabetes treatment medication in the country The company said it has introduced the world’s first and only oral semaglutide, a game-changer in diabetes management. Semaglutide, a GLP-1 receptor analogue (GLP-1 RA) – one of the drug classes to treat diabetes, till now was available only in the form of injections and this is the first time such medication has been developed in an oral form.
- Mar-2021: Roche has announced the launch of the new Accu-Chek Instant system, a new "connected" blood glucose monitoring (BGM) system, which supports and enables Roche’s approach of integrated Personalised Diabetes Management (iPDM). iPDM is a holistic, patient-centered therapeutic approach with the ultimate goal of personalising diabetes management to streamline care and improve clinical outcomes. iPDM aims to strengthen the care process, facilitates communication between patients and their healthcare team, and integrates tools that visualise and analyse data.
» Acquisitions and Mergers:
- Aug-2020: Medtronic acquired the Companion Medical, a company renowned for its connected insulin pen, InPen, that allows diabetic patients to monitor and share data like insulin doses, active insulin, and mealtime recommendations. The acquisition enabled Medtronic to widen its diabetes management tech and attract users aiming to cut costs. The acquisition got Medtronic even closer to its objective of launching an advanced closed-loop system, or artificial pancreas, which utilizes a CGM and insulin pump to manage insulin levels with limited action from the patient.
» Business Expansions:
- Mar-2022: Medtronic plc, a global leader in healthcare technology, today announced that reimbursement for continuous glucose monitoring (CGM), a key diabetes technology has been recently expanded or initiated in several countries throughout North and South America. CGM systems provide critical information on glucose levels to help simplify the management of diabetes. Automated insulin pump system reimbursement has progressed in Europe as well.
» Approvals and Trials:
- Aug-2021: The US Food and Drug Administration (FDA) has approved the Abbott FreeStyle Libre 2 iOS application for checking glucose levels to manage diabetes. It facilitates a complete digital offering for Abbott’s FreeStyle Libre 2 integrated continuous glucose monitoring (iCGM) system. The FreeStyle Libre app, through the LibreLinkUp app, can help caregivers monitor patients remotely and receive alarms in real-time.
Scope of the Study
Market Segments Covered in the Report:
- Handheld Devices
By Product & Service
- Continuous Glucose Monitoring (CGM) Systems
- Smart Glucose Meters
- Smart Insulin Pens
- Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches
- Diabetes & Blood Glucose Tracking Apps
- Obesity & Diet Management Apps
- Data Management Software & Platforms
By End User
- Self/Home Healthcare
- Hospitals & Specialty Diabetes Clinics
- Academic & Research Institutes
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- Abbott Laboratories
- Terumo Corporation
- F. Hoffmann-La Roche Ltd.
- DexCom, Inc.
- Novo Nordisk A/S
- ACON Laboratories, Inc.
- Bayer AG
- B.Braun Melsungen AG
- Azumio, Inc.
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North America Digital Diabetes Management Market Report 2022-2028
Europe Digital Diabetes Management Market Report 2022-2028
Asia Pacific Digital Diabetes Management Market Report 2022-2028
What would be the value of the global digital diabetes management market by 2028?
The digital diabetes management market size is projected to reach USD 29.5 billion by 2028.
What are the key driving factors and challenges in the digital diabetes management market?
Rising incidences of diabetes are driving the market in coming years, however, expensive devices and lack of reimbursement in developing countries growth of the market.
Who are the top market players in the digital diabetes management industry?
Medtronic PLC, Abbott Laboratories, Terumo Corporation, F. Hoffmann-La Roche Ltd., DexCom, Inc., Novo Nordisk A/S, ACON Laboratories, Inc., Bayer AG, B. Braun Melsungen AG, and Azumio, Inc.
At what CAGR is the digital diabetes management market estimate to grow in the forecast period?
The expected CAGR of the digital diabetes management market is 12% from 2022 to 2028.
Which segment shows a high revenue share of the digital diabetes management market in 2021?
The Wearables segment acquired maximum revenue share the Global Digital Diabetes Management Market by Type in 2021, thereby, achieving a market value of $17.7 billion by 2028.
Which region dominated the digital diabetes management market in 2021?
The North America market dominated the Global Digital Diabetes Management Market by Region in 2021, and would continue to be a dominant market till 2028.