by Digital diabetes management involves using digital health technologies such as wireless glucose monitors, mobile apps, cloud-based software, and other smart devices to manage diabetes and share data with doctors, caregivers, and other stakeholders. These solutions assist diabetes patients in controlling their blood glucose levels and managing their care with minimal clinical visits. Patients can track blood glucose readings, carbohydrate intake, insulin doses, exercise routines, and other factors influencing diabetes. The data is transmitted digitally and analyzed for improvements in medication-dosing, lifestyle habits, and overall diabetes management. Digital solutions also enable remote patient monitoring where doctors can securely access patients’ health data from a distance and provide timely guidance.
The global digital diabetes management market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One major driver driving the growth of digital diabetes management market is the growing adoption of telehealth and remote patient monitoring technologies. The ongoing COVID-19 pandemic has accelerated the use of digital health solutions globally as social distancing measures reduced non-essential clinical visits. Telehealth allows diabetes patients to consult with physicians using video/audio from the safety of their homes. It also enables continuous remote monitoring of patients’ vital health parameters by doctors. This reduces disease complications and cost of treatment while improving access to care. Another driver is the advancements in wireless connected devices, AI-driven analytical tools and mobile apps that make digital diabetes care more affordable and convenient to patients. These factors are increasingly allowing centralized and coordinated management of large diabetic patient pools.
Segment Analysis
The Global Digital Diabetes Management Market Size is segmented based on device, type and end user. The glucose monitoring devices segment dominates the market due to the high preference of self-monitoring blood glucose devices among diabetes patients. Self-monitoring blood glucose devices help patients easily track and manage their blood sugar level with no need for lab tests.
PEST Analysis
Political: Governments across the world are increasingly supporting initiatives aimed at digital health to reduce diabetes management costs and improve patient outcomes. Some governments provide partial or full reimbursement for digital diabetes devices and services.
Economic: Rising healthcare costs associated with diabetes treatment is driving demand for cost-effective digital diabetes management solutions. Digital tools help manage diabetes in a remote, affordable manner without frequent hospital/clinic visits.
Social: Growing awareness about benefits of digital solutions for managing chronic diseases like diabetes positively impacts the market. Users find these tools convenient to use and helpful in making informed decisions.
Technological: Continuous technological advancements are expanding features of glucose monitoring devices, insulin pumps and apps/platforms. Integration of artificial intelligence, cloud computing and wearables further enhances efficacy and user experience.
Key Takeaways
The global digital diabetes management market is expected to witness high growth over the forecast period. The global Digital Diabetes Management Market is estimated to be valued at US$ 9.31 billion in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
The North American region currently dominates due to the high adoption of advanced digital devices for diabetes management and supportive initiatives by healthcare agencies in countries like the U.S. The regulatory landscape is also favorable in North America with partial or full insurance coverage for digital solutions. Significant contributory factors include advanced healthcare infrastructure, higher healthcare affordability, presence of major market participants and favorable insurance policies covering digital diabetes management systems.
Key players
Key players operating in the digital diabetes management market are The Kraft Heinz Company, McCormick & Company Inc., Sempio Food Company, Delmaine Foods, Edward & Sons Trading Co., Cajun Powder Sauce, General Mills Inc., and Bull-Dog Sauce Co. Ltd. These key players are focusing on new product launches and geographical expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
