According to a new market research report “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”, published by Meticulous Research®,the 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 is driving the growth of this market. In addition, strong pipeline products and growth in emerging market offer significant growth opportunities. However, high cost of devices and poor reimbursement scenario is expected to hinder the growth of this market in the coming years.
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Diabetes is currently one of the most pressing problems of the global healthcare systems and is regarded as one of the largest global health emergencies of 21st century. Globally approximately 425 million adults between 20-79 years, or 8.8% are estimated to have diabetes. With current prevalence trends, it is expected that by 2045, nearly 629 million people between 20-79 years or 693 million people between 18-99 years will have diabetes.
The global digital diabetes market is mainly segmented by product, end user, and geography. On the basis of product type, digital diabetes market is segmented into devices, software, and apps. Diabetes management devices segment is estimated to account for the largest share of the overall digital diabetes market in 2019 and is expected to dominate this market until 2025. The diabetes management devices market is further sub-segmented into Continuous Glucose Monitoring (CGM) systems, insulin pumps, SMBG systems, and insulin pens. CGM systems segment accounted for the largest share of the overall diabetes management devices market with increasing adoption of CGM systems, development of advanced CGM systems, and favorable government policies in the developed countries. The insulin pumps market is further sub-segmented into traditional insulin pumps, tubeless/ patch pumps, and threshold suspend device system & closed loop pumps.
On the basis of end user, the digital diabetes market is segmented into home care, and hospitals. Home care end user segment is estimated to account for the largest share of the overall digital diabetes market in 2019, mainly attributed to increased awareness about diabetes and diabetes devices & apps, and growing development and adoption of home care devices.
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On the basis of geography, the GLOBAL digital diabetes market is sub-segmented into North America (U.S., Canada), Europe (Germany, Italy, France, U.K., Spain, RoE), Asia-Pacific (Japan, China, India, RoAPAC), Latin America, and Middle East & Africa. North America is estimated to account for the largest share of the global digital diabetes devices market in 2019. Some of the major factors influencing the growth of this market are The major share of this region is mainly due to the increasing prevalence of the disease, increased adoption of advance diabetes care devices, better accessibility to technologies compared to other regions, and presence of well-established distribution channels of the major players in this region. On the other hand, Asia-Pacific region is showcasing significant scope for the penetration considering the growth potential it has for the next 5-6 years with the high pool of diabetic patients, increasing healthcare expenditure, and growing focus of key players towards this region.
The key players operating in the global digital diabetes market are Lifescan, Roche, Medtronic, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcom, SocialDiabetes, One drop, H2 Inc., Dottli, Abbott Laboratories, Ypsomed holding AG, ARKRAY Inc, and Insulet Corporation. The leading players vary from segment to segment in this market. For instance, the CGM system market is dominated by Medtronic and Dexcom and together they account major share of this market. On the other hand, insulin pump market is dominated by Medtronic. SMBG systems and diabetes management apps market is fragmented in nature with various players operating at the regional and local levels along with the global players.
Browse key industry insights spread across 148 pages with 117 market data tables & 28 figures & charts from the report: https://www.meticulousresearch.com/product/digital-diabetes-market-4946/
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