Digital Diabetes Management Market Set to Rise at 22.5% CAGR During 2019 to 2026
Pune, New York, USA, November 18 2020 (Wiredrelease) Research Dive –:The global digital diabetes management market was valued at $3,375.8 million in 2018 and is projected to reach $17,118.7 million by 2026, registering a CAGR of 22.5% from 2019 to 2026. Diabetes is one of the most prevalent chronic disease that occurs due to malfunctioning of pancreas. The condition arises when pancreas do not produce enough insulin, or the body is unable to effectively utilize the insulin that has been produced. As per the data published by WHO, in 2018, the number of people suffering with diabetes has significantly risen from 108 million in 1980 to approximately 422 million in 2014. The prevalence of diabetes across the glove has increased from 4.7% to 8.5%. In 2016, around 1.6 million deaths occurred due to diabetes. Thus, it is essential to manage diabetes in order to maintain blood sugar levels in the human body.
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Diabetes management includes measuring & recording blood sugar levels, measuring carbohydrate intake, along with tracking exercises and day-to-day activities. Thus, tracking these activities digitally offers continuous patient monitoring allowing the patients as well as physicians to better diagnose the current condition and suggest medications accordingly.
Prominent players in the market have adopted various strategies such as partnerships, product approvals and product launching for maintaining their share in the global digital diabetes management thereby addressing the evolving healthcare needs amongst the patients and healthcare providers.
The major factors driving the growth of the market are increase in adoption of smartphones & tablets coupled with healthcare apps and surge in the diabetic population globally. In contrast to these, the market growth is hampered by lack of awareness regarding digital diabetes management in developing countries and patient data privacy concerns. On the contrary, emerging markets offer significant opportunities for the growth of global digital diabetes management market.
The global digital diabetes management market is segmented based on type, product and region. Based on type, the market is categorized into Handheld Devices and Wearable Devices. Based on product, the digital diabetes management market divided into Continuous blood glucose monitoring systems, Smart Glucose Meter, Smart Insulin Pumps, Smart Insulin Pens and Apps. Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
• This report provides a detailed quantitative analysis of the current market trends and future estimations from 2019-2026, which assists to identify the prevailing market opportunities.
• An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
• A comprehensive analysis of the factors that drive and restrain the growth of the global clinical nutritionmarket is provided.
• An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
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KEY MARKET SEGMENTS
• Handheld Devices
• Wearable Devices
• Continuous blood glucose monitoring systems
• Smart Glucose Meter
• Smart Insulin Pumps
• Smart Insulin Pens
KEY MARKET PLAYERS
• Abbott laboratories
• ACON Laboratories, Inc.
• Bayer AG
• Becton, Dickinson and Company
• Dexcom, Inc
• F. Hoffmann-La Roche Ltd.
• Johnson and Johnson, Medtronic Plc
• Novo Nordisk A/S
• Terumo corporation
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