Industry Background:
Digital Diabetes Management is expected to grow significantly in the forecasted period with the rising prevalence of diabetes and the growing adoption of the digital platform for diabetes. The rising incidence of type I and type II diabetes combined with high obese population is propelling the market for digital diabetes market.This growth is primarily driven by Growing Demand for Technologically Advanced Solutions Such As Closed-Loop Systems, High Adoption of Connected Diabetes Management Devices and Apps, Rising Awareness on Self-Diabetes Management, Favorable Reimbursement Policies and Increased Acceptance of Digital Diabetes Solutions from Payers.
Globally, a noticeable market trend is evident Growing Demand for Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems
. Major Players, such as Roche Diagnostics (Switzerland), Medtronic (Ireland), Glooko Inc. (United States), B. Braun (Germany), Dexcom (United States), Abbott Laboratories (United States), Insulet Corporation (United States), Tandem Diabetes Care (United States), Ascensia Diabetes Care (Switzerland) and Lifescan (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2018, Medtronic plc acquired Neutrino Health Ltd. (Israel). This acquisition strengthened Metronic’s CGM and industry-leading hybrid closed-loop systems portfolio in the digital diabetes management market. and In 2018, Roche Diagnostics signed a partnership with Wellthy Therapeutics Private Limited (India) that offers an artificial intelligence-based digital diabetes coaching solution for users of the Accu-Chek Active system.
Market Drivers
- Growing Demand for Technologically Advanced Solutions Such As Closed-Loop Systems
- High Adoption of Connected Diabetes Management Devices and Apps
- Rising Awareness on Self-Diabetes Management
- Favorable Reimbursement Policies
- Increased Acceptance of Digital Diabetes Solutions from Payers
Market Trend
- Growing Demand for Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems
- Increasing Demand for Flash Glucose Monitoring (FGM) Systems
Restraints
- Lack of Awareness toward Healthcare-Associated Applications
- Cost Sensitivity and Limited Infrastructure For Management
Opportunities
Increasing Demand for Remote Monitoring & Penetration of Smartphone-Connected Handheld Devices, Rising Global Adoption of Remote Online Coaching Services among Diabetes Patients and Government Initiatives to Promote Digital Health in the Region
Challenges
Low Penetration in Developing Economies and Lack of Data Security
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization of the Report:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase