Meticulous Research®– leading global market research company published a research report titled “Digital Diabetes Market by Product (SMBG, CGM, Smart Insulin Pump, Smart Insulin Pens, Software, Apps), End User (Home Care, Hospitals and Clinics), and Geography–Global Forecast to 2025”. According to this latest publication from Meticulous Research®, digital diabetes market is expected to grow at a CAGR of 21.7% from 2018 to reach $12.03 billion by 2025. Factors such as rising number of diabetic patients, increasing penetration of smartphones, technological advancement in diabetes devices, and growing funding for diabetes are driving the growth of this market. However, high cost of devices and poor reimbursement scenario is expected to hinder the growth of this market to a certain extent.
The global digital diabetes market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2025-by product (SMBG, CGM, smart insulin pump, smart insulin pens, software, apps), and end user (home care, hospitals, and clinics). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of product type, diabetes management devices segment accounted for the largest share in digital diabetes market in 2018. This market is expected to grow at a CAGR of 21.5% during the forecast period. The large share of this segment is mainly attributed to growing diabetic population, increasing adoption of smart diabetes devices, and growing awareness about diabetes in emerging countries. Diabetes management apps market is expected to grow at a highest CAGR during the forecast period. The high growth of this segment is mainly attributed to increasing penetration of smart phone, growing awareness about diabetes management apps, and increasing funding for diabetes management apps.
On the basis of end user, the digital diabetes market is sub-segmented into home care, and hospitals and clinics. Home care accounted for the largest share of digital diabetes market in 2018. The large share and high growth of this market is mainly attributed to increased awareness about diabetes and diabetes devices & apps, and growing development and adoption of home care devices.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada), Europe (Spain, France, Italy, Germany, U.K., and RoE), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. North America accounted for the largest share of digital diabetes market in 2018. Increasing prevalence of the disease, growing adoption of advance diabetes care devices, accessibility to technologies, and presence of well-established distribution channels of the major players are the key factors attributed to the largest share of this market. The Asia-Pacific digital diabetes market is expected to grow at a highest CAGR of 22.7% mainly due to high pool of diabetic patients, increasing healthcare expenditure, and growing focus of key players towards this region.
The major players operating in the global digital diabetes market are Lifescan, Roche, Medtronic, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcomm, SocialDiabetes, One Drop, H2 Inc., Dottli Oy, Abbott Laboratories, Ypsomed holding AG, ARKRAY Inc., and Insulet Corporation among many others.
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