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 Metronicís 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.
- 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
- Growing Demand for Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems
- Increasing Demand for Flash Glucose Monitoring (FGM) Systems
- Lack of Awareness toward Healthcare-Associated Applications
- Cost Sensitivity and Limited Infrastructure For Management
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
Low Penetration in Developing Economies and Lack of Data Security
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