Digital Diabetes Market (2018-2025)

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 in the coming years.

Diabetes is attaining epidemic proportions and digital health companies are fighting back with innovative solutions. Approximately, one in 11 adults across the globe has diabetes attributing to 425 million people, worldwide. As the cases of diabetes are growing so is the digital diabetes market. Over the last few years, the digital diabetes care market has substantially progressed. If these trends continue, by 2045, 693 million people aged between 18-99 years, or 629 million of people aged between 20-79 years, will have diabetes. Globally, diabetes results in $727 billion of healthcare expenditure, which corresponds to one for every eight dollars spent on healthcare. Thus, rising number of diabetic patients across the globe and increasing demand for better ways to manage the disease is expected to drive the adoption of innovative diabetes devices, software, and apps among patients over the coming years, thereby driving the growth of the digital diabetes market.

In recent years, number of pharma companies and research organizations have increased funding for digital diabetes care app’s and software development. For instance,

In 2015, mySugar raised $4.8 million from Roche Ventures and iSeed Ventures to scale up its user base in the US and other countries.

In 2017, Glooko, the leader in diabetes data management, announced $35 million in new funding to accelerate growth, expand international presence, and deepen expertise in data analytics.

In 2017, Wellthy Therapeutics Pvt Ltd, which operates a mobile-based diabetes management platform, raised an undisclosed sum from early-stage investor GrowX Ventures.

In 2018, Livongo Health raised $105 million more as the business of mobile monitoring technology to manage chronic conditions attracts big names in technology, health insurance and the investor community.

In 2018, Fit4D, a New York City-based diabetes management app, announced $4 million funding to expand its innovation efforts.

The rising number of funding from companies and organizations is expected to drive the adoption of digital diabetes devices which in turn is expected to drive the growth of this market in coming years.

CGM systems accounted for the largest share of digital diabetes devices market, by type. Increasing adoption of CGM systems, development of advanced CGM systems, and favorable government policies in developed countries promoting adoption of CGM systems are the key factors contributing to the largest share and highest growth of this segment.

The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 3 years (2015-2018).

The key players 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.