With the emergence and long-term Impact of COVID-19, the Global Digital Diabetes Management Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Digital Diabetes Management Market is poised to raise up to USD XX Billion by 2030. Digital diabetes management refers to using digital technologies, such as mobile apps, wearable devices, and other digital tools, to help individuals with diabetes monitor, manage, and improve their condition. Diabetes is a chronic metabolic disorder characterized by high blood sugar levels due to either inadequate insulin production or the body’s inability to use insulin effectively.
Digital diabetes management solutions aim to empower patients with diabetes to take an active role in their self-care by providing tools and resources to track and analyze their blood glucose levels, medication, physical activity, and diet. The key factors driving the market growth are the rising prevalence of diabetes, growing adoption of cloud-based enterprise solutions for diabetes management, the advent of artificial intelligence in diabetes care devices, and increasing penetration of digital platforms and adoption of mobile apps for diabetes management that anticipated to support the market growth during forecast period.
Moreover, the global prevalence of diabetes has been increasing steadily, primarily due to sedentary lifestyles, unhealthy diets, and an aging population. As the number of people with diabetes continues to rise, there is a growing need for efficient and scalable diabetes management solutions. For instance, as per the International Diabetic Federation (IDF), in 2019, there were nearly 463 million adults aged between 20-79 years were suffering from diabetes. Also, the amount is anticipated to reach around 700 million by 2045. As a result, the growing prevalence of diabetes is anticipated to support market growth.
Additionally, increasing diabetes-related health expenditure and rising adoption of e-health are anticipated to create a lucrative opportunity for the market during the forecast period. However, the low adoption in developing economies and data security stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Digital Diabetes Management Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising prevalence of diabetes, increasing awareness and patient engagement, growing healthcare and infrastructure, increasing focus on remote patient monitoring, and supportive reimbursement policies. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing adoption of e-health, increasing prevalence of diabetes, rising healthcare awareness, increasing healthcare expenditure, and growing adoption of telemedicine and remote monitoring.
The global Digital Diabetes Management Market is highly competitive owing to the presence of several key manufacturers such as F. Hoffmann-La Roche Ltd., Becton, Dickinson And Company, Bayer Ag, Acon Laboratories, Inc., Medtronic Plc, Novo Nordisk A/S, and others.
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Global Digital Diabetes Management Market Size study & Forecast, by Type (Handheld Devices, Wearable Devices), by Product (Continuous blood glucose monitoring systems, Smart glucose meter, Smart insulin pumps, Smart insulin pens, Apps) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Digital Diabetes Management Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the type segment, wearable devices emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing awareness and patient engagement.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- Handheld Devices
- Wearable Devices
- Continuous blood glucose monitoring systems
- Smart glucose meter
- Smart insulin pumps
- Smart insulin pens
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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