Smart Diabetes Management Market to Surge USD 19.80 Billion, with Excellent CAGR of 15% by 2030
Global Smart Diabetes Management Market research report helps to be there on the right track by making to focus on the data and realities of the industry. This market document also brings into focus a comprehensive evaluation of the market’s growth prospects and restrictions. The research and analysis performed in this reliable market report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. It has been believed that the finest market analysis report is the one which is pertinent, unique, and creditable that employs proven tools and techniques to turn complex market insights into simpler version.
According to the International Diabetics Federation (IDF), 578 million adults will have diabetes by 2030, rising to 700 million by 2045. The number of diabetic patients is increasing, which can be attributed to various environmental, genetic, demographic, and socioeconomic factors. Obesity, an unhealthy diet, alcohol consumption, tobacco use, a decrease in physical activity, and other factors are among the causes. These causes are aided by increased urbanization and a changing lifestyle that includes consuminghigher-calorie and processed foods. As a result, the increasing prevalence of diabetes, combined with technological advancements in the healthcare industry, has created a need to develop and adopt smarter equipment to treat the disease.
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Data Bridge Market Research analyses that the smart diabetes management market which is USD 6.47 billion in 2022, is expected to reach USD 19.80 billion by 2030, at a CAGR of 15% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Drivers
- Rising people awareness and literacy
People’s awareness and literacy about the use of technology, smartphones, wearable devices, and applications is also increasing due to their ease of use and convenience. Products such as Continuous Glucose Monitoring Systems (CGM) provide continuous monitoring of glucose levels, which is stored and transmitted to a doctor or healthcare professional, allowing for a better analysis of the health condition and providing alerts in case the glucose levels drop too low or rise too high, allowing for an immediate action that could save a life. Smart Insulin Pumps inject insulin into the body in response to glucose level data provided by CGM; such benefits can be lifesaving and significantly help in reducing the side effects of diabetes. These elements propel market expansion.
- Increase in product approval rates
With the subsequent increase in product approval rates, companies are focusing their efforts on launching new diabetes management products, whether devices or apps. The deployment of this strategy is also due to a rise in consumer preference for innovative and simple-to-use products. Accu-Chek Guide, a blood glucose monitoring system, was introduced in August 2016 by F. Hoffmann-La Roche Ltd. Furthermore, in June 2017, Medtronic introduced the MiniMed 670G system for the treatment of type 1 diabetes. These launches were followed by a slew of new products that not only simplified diabetes management for patients and clinicians, but also improved results accuracy.
Recent Developments
- In 2021, Roche and the Zur Rose Group announced a collaboration to help people with diabetes and those who care for them manage their daily medications. Roche Diabetes Care and the Zur Rose Group are collaborating to connect their healthcare goods and solutions with those of top-tier third parties to improve the lives of those with diabetes.
- In 2022, Germany will serve as the launched market for this offering in 2022, with additional European countries likely to follow suit.
Smart Diabetes Management Market Overview:
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Years | 2021 (Customizable to 2015 – 2020) |
| Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Some of the major players operating in the smart diabetes management market are:
- Abbott (U.S.)
- PHC Holdings Corporation (Japan)
- WellDoc, Inc (India)
- Sanofi (France)
- Dexcom, Inc (U.S.)
- DarioHealth Corp. (U.S.)
- Medtronic (Ireland)
- B. Braun SE (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Insulet Corporation (U.S.)
- Ascensia Diabetes Care Holdings AG (Switzerland)
- Tidepool (U.S.)
- Tandem Diabetes Care (U.S.)
- LifeScan (U.S.)
- AgaMatrix (U.S.)
- Glooko Inc. (U.S.)
- DarioHealth (Israel)
Smart Diabetes Management Market Scope
The smart diabetes management market is segmented on the basis of devices, devices type, application, diabetes type and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Devices
- Smart Glucose Meters
- Continuous Glucose Monitoring Systems
- Smart Insulin Pens
- Smart Insulin Pumps
- Closed Loop Systems
Devices Type
- Handheld Devices
- Wearable Devices
Application
- Diabetes and Blood Glucose Tracking Apps
- Obesity and Diet Management Apps
Diabetes Type
- Type 1 Diabetes
- Type 2 Diabetes
End Use
- Home Healthcare
- Hospitals
- Specialty Diabetes Clinics
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Smart Diabetes Management Market Regional Analysis/Insights
The smart diabetes management market is analyzed and market size insights and trends are provided by country, devices, devices type, application, diabetes type and end use as referenced above.
The countries covered in the smart diabetes management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart diabetes management market due to the high prevalence of diabetic population and lucrative reimbursement polices.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the focus of various established market players to expand their presence in this particular region.
Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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