Global Smart Diabetes Management Market Overview:
Diabetes is a chronic disease, and its treatment requires intensive management of medication, diet, and exercise. Information and communication technology provides diverse facilities to patients and medical specialists to manage different diseases in an efficient manner with the help of smartphone technology. Diabetes is a metabolic disorder that occurs due to defects in insulin secretion, insulin action, or genetic issues. The mHealth platforms include mobile phones, tablets, and in-built body sensors that transmit disease-related vital signs data such as blood pressure and pulse rate.
- Rising Prevalence of Chronic Diseases among Geriatric Population
- Paradigm Shift in the Treatment and Monitoring of Diabetes such as Smartphone Technology
- Growing Adoption of Cloud-Based Enterprise Solutions for Diabetes Management
- Increasing Penetration of Digital Platforms and Adoption of Mobile Apps for Diabetes Management
- The E-Health Applications Harness ICT Technology and Provide Tools for Better Management of the Disease
- Affordability and User Error Could Be Some Potential Shortcomings
- Higher Acceptance of Traditional Diabetes Management Devices
- The Rapid Advancements in Smartphone Technology, and Cloud-based Solutions
- Development of Special Shoes and Socks (Footwear), and Bio-Artificial Pancreas
- Low Penetration Rate in Developing Economies
- Lack of Data Security
Some of the key players profiled in the report are Dexcom, Inc. (United States), Smart Meter LLC (United States), Insulet Corporation (United States), LifeScan, Inc. (United States), Abbott Laboratories (United States), Medtronic plc (United States), Sanofi (France), Glooko, Inc. (United States), Tandem Diabetes Care, Inc. (United States) and Ascensia Diabetes Care Holdings AG (United States). Additionally, following companies can also be profiled that are part of our coverage like GlucoMe (Israel), B. Braun Melsungen AG (Germany), F. Hoffmann-La Roche Ltd. (Switzerland) and Delfu-medical (China). Analyst at AMA Research see United States Players to retain maximum share of Global Smart Diabetes Management market by 2026. Considering Market by Diabetes Type, the sub-segment i.e. Type 1 will boost the Smart Diabetes Management market. Considering Market by Device Type, the sub-segment i.e. Handheld will boost the Smart Diabetes Management market.
Latest Market Insights:
In November 2020, LifeScan, a world leader in blood glucose monitoring and maker of the iconic OneTouch brand, has announced a partnership with Shoppers Drug Mart Inc., one of Canada's leading providers of pharmacy products and services, to pilot the retailer's first digital diabetes management program. and In 2020, Medtronic plc, the global leader in medical technology, has announced the planned acquisition of privately-held Companion Medical, manufacturer of InPen, the only U.S. FDA-cleared smart insulin pen system paired with an integrated diabetes management app on the market.
In 2017, Insulet Corporation, the leader in tubeless insulin pump technology with its Omnipod Insulin Management System, announced additional promising data from the first feasibility study of the Omnipod Horizon Automated Glucose Control System (Omnipod Horizon) hybrid closed-loop system.
The FDA has authorized diabetes devices that have been designed to work safely with other devices, such as integrated continuous glucose monitoring systems and "automated controller enabled" insulin pumps that comprise diabetes therapy systems. This approach allows patients to safely tailor their diabetes management. Devices are labeled to indicate which compatible devices patients can safely use together as a system.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Diabetes Management market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Diabetes Management market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Smart Diabetes Management Device Manufacturers, Software Developers and Integrators, Pharmaceutical & Healthcare Organizations, Potential Investors, Research Institutes, Governments and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.