This research report on the digital diabetes management market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by products (digital diabetes management devices (self-monitoring blood glucose (SMBG) meters, continuous glucose monitoring (CGM) devices, insulin pumps, digital insulin pens) and digital diabetes management applications and software), distribution channels (retail and online stores), end-users (Individual, hospitals and specialty diabetics clinics, and others), and geography (North America, APAC, Europe, Latin America, and MEA).
The market has witnessed significant growth in sales volume due to the growing prevalence of diabetes and the increasing awareness of self-management of the disease. The increased demand from developing markets, the introduction of innovative smart diabetes management devices, and increased marketing activities via online stores are contributing to the growth of the market worldwide.
The market has been witnessing a broad range of technological innovations and improvements in recent years. As the demand for digitally advanced blood glucose monitoring devices is growing at a significant rate, vendors are focusing on developing innovative devices, incorporating new technological platforms, and improving existing ones to enhance overall patient care. Besides, vendors are also offering a wide range of innovative BGM devices with improved features such as inbuilt alert systems, wireless connectivity, data storage, compatibility with Android and iOS platforms, and messaging options to evaluate the patient’s blood glucose levels regularly. Hence, the introduction of advanced digital devices has enabled both patients and healthcare professionals to monitor blood glucose levels in real-time, thereby enhancing the management of diabetes.
The market is highly influenced by the increasing adoption of smartphones, wearable medical devices, and the availability of several mHealth applications for blood glucose tracking. mHealth applications and data integration software platforms help in storing blood glucose data of the patient and transmitting the same to healthcare professionals for clinical decision making. Therefore, the increasing usage of mobile applications and data management platforms are contributing to the growing demand for smart devices for effective and accurate diabetic management.
The global digital diabetes management market is expected to grow at a significant CAGR of over 18% during 2018-2024.
Digital Diabetes Management Market: Segmentation
This research report includes detailed segmentation by products, distribution channels, end-users, and geography.
Digital Diabetes Management Market: Products
The wide availability of technologically advanced digital blood glucose monitoring devices is contributing to the market share
The digital diabetes management devices segment is growing at a faster rate due to the growing adoption of several digitally advanced devices for diabetic care, including digital blood glucose meters, Continuous Glucose Monitoring (CGM) devices, insulin pumps, and digital insulin pens. Among all these devices, CGM devices are contributing to the largest market share in 2018. The wide availability of technologically advanced digital blood glucose monitoring devices and rapid expansion of telehealthcare facilities are contributing to the market share.
The growing prevalence of diabetes, mainly in the growing geriatric population, is the key factor driving the growth of the digital diabetes management applications and software segment. Further, technological advancements are a crucial factor for the growth of the segment. The encouraging sale of smartphones, coupled with growing focus on home healthcare and remote patient monitoring, has led to the development of several mHealth applications for tracking several health activities such as physical activities, blood glucose levels, blood pressure, heart rate, among others. A diverse range of healthcare applications is available both in Android and iOS smartphones. Therefore, the increasing demand for software and data management platforms and the availability of a wide array of software platforms and applications related to digital diabetes management are likely to have a positive impact on the growth of the segment.
Digital Diabetes Management Market: Distribution Channel Type
The online distribution channel segment accounted for a market share of over 20% in 2018
Retail stores are considered an indispensable distribution channel for digital diabetes monitoring devices as they offer easy access to a wide customer base and involve personalized attention to each of the consumer’s needs. A major interesting trend observed in this distribution system is that these stores are increasingly getting integrated with online platforms with retail chains either having their standalone online portals or participating through marketplaces through e-commerce companies.
Online stores have played a pivotal role in dispensing information and bringing radical changes in the consumption pattern and the shopping behavior of consumers. The rise of standalone web portals for retailers and the emergence of exclusive online marketplaces for home care and self-testing products such as digital BGM devices have recently gained attention in the market. For instance, BGM devices and accessories are easily available through online e-commerce portals such as Amazon, Flipkart, Snapdeal, and Paytm. Besides, manufacturers are also offering BGM devices through direct B2C online channels.
Digital Diabetes Management Market: End-users
The healthcare industry is witnessing a paradigm shift toward self-monitoring of blood glucose levels over hospital-based testing
The rapidly increasing diabetic population due to unhealthy lifestyle patterns, excess alcohol consumption, poor diet, and the lack of physical activities across the world are majorly contributing to the growing demand for several digital diabetes devices. Also, the healthcare industry has witnessed a paradigm shift in the last decade with an increasing preference toward self-monitoring of blood glucose levels over hospital-based testing. Moreover, the increased health consciousness and awareness among people is driving the demand for self-testing and monitoring devices regularly. Hence, the increasing patient population leads to increasing demand, thereby contributing to the high growth of the segment.
Healthcare professionals in hospitals and clinics are using professional digital devices for quick and accurate measurement of blood glucose levels. The hospital segment is growing at a healthy rate and is likely to grow at a steady pace during the forecast period. The adoption of POC tests, which is increasing at a significant rate for evaluating blood glucose levels, is a major factor for market growth. The availability of skilled healthcare professionals with knowledge and expertise in evaluating blood glucose levels and aiding in diabetes management attracts more patients to hospitals and clinics than other healthcare providers.
Digital Diabetes Management Market: Geography
The presence of high geriatric population with a high risk of increasing blood glucose level is a key factor driving the market growth of North America
The growing diabetic patient population, high preference for self-monitoring of blood glucose levels, and the advent of highly advanced and innovative blood glucose management devices are the primary factors for the high market share in North America. Also, the growing geriatric population with a high risk of increasing blood glucose levels is another key factor driving the market growth of the region.
Europe is the second-largest market. Germany, France, Spain, the UK, and Italy are the major revenue contributors in Europe. The growth is mainly due to the highly sophisticated healthcare infrastructure, the increasing patient population with high awareness levels regarding the availability of advanced treatment options for diabetic care. Also, the increase in investments in the field of R&D for the development of innovative products will have a positive impact on the market growth and is expected to be another key factor behind the market growth of the region.
APAC is the third-largest market for digital diabetes management devices. The region has the largest population density and the highest proportion of people with diabetes. India and China population have around 195 million people with diabetes. Japan, China, South Korea, India, and Australia are the major revenue contributors from the region. China, South Korea, and India hold notable shares and are expected to witness the significant growth rate due to advancements in healthcare infrastructure, the rise in healthcare expenditure, and favorable public and private initiatives for an increase in the healthcare access.
Brazil, Mexico, and Argentina are the major revenue contributors to the digital diabetes management devices market in Latin America. Turkey, Saudi Arabia, Iran, and South Africa are the major revenue contributors to the market in MEA. The lack of awareness and the availability of various advanced treatment options for diabetic management have led to lower uptake in MEA than the US, Europe, Latin America, and APAC.
Key Vendor Analysis
The global digital diabetes management market is highly competitive and dynamic characterized by the presence of many global, regional, and local vendors offering a diverse range of technologically advanced devices, including CGM devices, test strips, digital insulin pens, insulin pumps sensors, lancets, and lancing devices for enhancing/improving the overall patient care. Approximately more than 400 vendors are offering such a wide array of products worldwide. Many global, regional, and local players manufacture and promote a diverse range of devices for the effective management of diabetes. The market is subject to rapid technological changes and significantly affected by new product launched, and other market strategies of industry participants Abbott, Ascensia Diabetes Care, B. Braun Melsungen, Dexcom, F. Hoffmann-La Roche, LifeScan, Medtronic, and Insulet are the major players in the market. Currently, the key players accounted for significant shares in the global digital diabetes management devices market. However, the key players are facing stiff competition from local and regional players. Multiple product launches, strategic acquisitions, and diversified product portfolio fueled their growth in recent years. New product launches and strategic acquisitions, collaborations will be crucial for companies to maintain revenue growth in the coming years.
Other Prominent Vendors
77 Elektronika, A. Menarini Diagnostics, ACON Laboratories, AgaMatrix, Alliance International, Andon Health (Tianjin Jiu'an Medical Electronics), Animas, ApexBio, ARKRAY, Beurer, Biocorp, Bionime, Bioptik, BioTelemetry, Biotest Medical, BTNX, Care Innovations, Companion Medical, DarioHealth, Diabnext, DIAMESCO, Digital Medics, Emperra, GlucoMe, Integrity Applications, Jiangsu Delfu medical device, Medisana, Medtrum Technologies, Nova Biomedical, Novo Nordisk, Omnis Health, One Drop, Philosys, Prodigy Diabetes Care, Sanofi, Senseonics Holdings, SOOIL Developments, Taidoc Technology, Terumo, Trividia Health, Rossmax International, Tandem Diabetes Care, Patients Pending, and Ypsomed
Key Market Insights
The report provides the following insights into the digital diabetes management market for the forecast period 2019–2024.
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