The North America Digital Diabetes Management Market would witness market growth of 11.4% CAGR during the forecast period (2022-2028).
Patients and providers generate enormous volumes of data from a variety of sources, including electronic medical records, insulin pumps, sensors, glucometers, and other wearables, as well as developing genomic, proteomic, metabolomic, and microbiomic data. Using motivational tools and adding incentives from social media and gaming approaches, a variety of digital tools and apps have been developed to help patients make informed decisions and improve their compliance. Digital advancements that sift through the massive volumes of patient-generated data help healthcare teams (HCTs) and health administrators.
Data is collected, integrated, evaluated, and shown in a self-explanatory manner, indicating key patterns and things that need to be addressed. The use of decision support systems can suggest data-driven measures that, in most cases, require final consent from the patient or physician before being carried out, and that, once executed, can enhance patient outcomes. The goal of the digital diabetes clinic is to combine all digital patient data and give specifically tailored virtual or face-to-face visits to individuals who need them the most.
North America dominated the market in 2018, owing to rising smart consumer device penetration and AI-based service innovation. Furthermore, concepts such as the Internet of Things, big data, machine learning, and robotics are in the next stage of digitalization in the region. As a result, during the projected period, these digital technologies are expected to boost the regional market. Due to new product launches and the presence of prominent competitors in the region, North America is expected to be a key market for digital diabetes management applications and devices.
The US market dominated the North America Digital Diabetes Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,447.5 million by 2028. The Canada market is anticipated to grow at a CAGR of 14% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13% during (2022 - 2028).
Based on Type, the market is segmented into Wearables and Handheld Devices. Based on Product & Service, the market is segmented into Devices (Continuous Glucose Monitoring (CGM) Systems, Smart Glucose Meters, Smart Insulin Pens, and Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches), Application (Diabetes & Blood Glucose Tracking Apps and Obesity & Diet Management Apps), Data Management Software & Platforms, and Services. Based on End User, the market is segmented into Self/Home Healthcare, Hospitals & Specialty Diabetes Clinics, and Academic & Research Institutes. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Digital Diabetes Management Market is Estimated to reach $29.5 Billion by 2028, at a CAGR of 12%
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.
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