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 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.
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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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.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
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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.
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
KEY MARKET SEGMENTS
By Type
– Handheld Devices
– Wearable Devices
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By Product
– Continuous blood glucose monitoring systems
– Smart Glucose Meter
– Smart Insulin Pumps
– Smart Insulin Pens
– Apps
By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o Spain
o Italy
o UK
o Rest of Europe
– Asia-Pacific
o Japan
o India
o China
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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- And so forth of the fundamental players, which assists the peruses with distinguishing the indispensable contenders and profoundly know the opposition instance of the market.
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- This document will aid companions with grasp contenders higher and collect experiences to reinforce their scenario in their organizations. The serious scene region contains the piece of the pie and rank (in extent and worth), contender environment, new object improvement, development, and obtaining.
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