Digital Diabetes Management Market Segmented by App Type, Product, Country and Growth Forecast, 2019-2026
According to a report, “Digital Diabetes Management Market Size, Share & Trends Analysis Report By Product (Smart Glucose Meter, CBGM, Smart Insulin Pen, Smart Insulin Pump), By App, By Type, And Segment Forecasts, 2019 – 2026” published by Grand View Research, Inc., the global digital diabetes management market size is expected to reach USD 26.4 billion by 2026, registering a 19.4% CAGR over the forecast period. The market is propelled by an increasing number of product launches, coupled with innovation in technologies such as predictive analytics, Artificial Intelligence (AI), and the Internet of Things (IoT).
Data analytics and artificial intelligence are now an integral part of digital solutions for diabetics. Artificial intelligence is gaining rapid attention in its ability to harness massive volumes of patient information. Digital diabetes management tools help patients analyze their glucose levels and pattern. They also help patients decide food intake and dosage of insulin. The number of smartphone apps for disease management has seen a monumental rise over the past few years, giving the market a major boost.
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The market is further augmented by the increasing prevalence of obesity, growing aged population, and rising awareness about diabetes preventive care. Moreover, an increasing number of active users of smart devices and the launch of new apps have allowed patients to monitor their blood glucose levels in real-time. These apps also enable healthcare professionals to provide better patient outcomes. In May 2019, Roche Diabetes Care India introduced its Integrated Diabetes Management Solution (IDMS) program in India with the launch of the Accu-Chek Instant blood glucose monitoring (BGM) system and the My Sugar app. The combination marks the entry of next-generation BGM systems. This is expected to propel product demand.
Digital Diabetes Management Market Report Highlights
- On the basis of product, the continuous blood glucose monitoring systems segment held the largest market share of just under 40.0% in 2018 owing to their compatibility with smart devices that serve as a display device.
- The smart insulin pen segment is projected to rise by 22.0% being the fastest CAGR in the forecast period. The high growth rate of the segment is primarily due to the growing number of product releases in the digital healthcare market.
- The growth of the apps segment is predominantly due to the growing patient demand for these apps. Such applications allow for constant control of blood glucose levels and are also commonly used by the elderly.
- The weight and diet management apps segment is anticipated to exhibit a CAGR of 22% over the forecast period. These applications use sophisticated automated data processing to allow healthcare practitioners to provide patients with the best possible solution. Improved health results, decreased error rates, and declining healthcare expenses are key factors driving this segment.
- Based on type, wearable devices held the largest market share and the segment is expected to exhibit the fastest CAGR of 19.6% over the forecast period.
- The handheld device segment accounted for a share of over 43.0% in 2018 and is poised to witness steady growth over the forecast period. This is primarily attributed to new product launches in the field.
- The Asia Pacific is expected to witness exponential growth over the forecast period owing to new product launches and a large diabetes population base.
- In May 2019, Roche Diabetes Care India introduced its Integrated Diabetes Management Solution (IDMS) program in India with the launch of the Accu-Chek Instant blood glucose monitoring (BGM) system and the My Sugar app. The combination marks the entry of next-generation BGM systems.
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