(PharmaNewsWire.Com, February 04, 2020 ) Recent Developments in Digital Diabetes Management Market:
1. In 2018, Medtronic plc acquired Nutrino Health Ltd. (Israel). This acquisition strengthened Metronic’s CGM and industry-leading hybrid closed-loop systems portfolio in the digital diabetes management market.
2. 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.
3. In 2017, Medtronic launched the MiniMed 670G Insulin Pump System
4. In 2017, Dexcom opened a new head office in Canada to enhance customer experience and support Canadian diabetes patients.
The global Digital Diabetes Management Market is projected to reach $19.9 billion by 2024 from $6.8 billion in 2019, at a CAGR of 23.8%. The growth of this market is mainly driven by the rising prevalence of diabetes, increasing focus on the development and adoption of digital platform for diabetes, and technological advancements.
The growing demand for wireless and wearable devices for diabetes management, growing acceptance of smart insulin pumps & pens for insulin delivery, technological innovations & digital advancements in devices, and increasing awareness about continuous glucose monitoring in patients are the key factors driving the growth of the devices segment.
The wearable devices segment accounted for the largest share of the digital diabetes management devices market in 2018.
Regional Growth and Demand Analysis:
North America accounted for the largest share of the digital diabetes management industry. Factors such as growing adoption of connected diabetes management devices, high adoption of diabetes management apps, growing demand for integrated hybrid closed-loop systems, favorable reimbursement policies, and government initiatives to promote digital health in the region are driving the growth of the digital diabetes management market in North America.
Prominent players in the digital diabetes management market are Medtronic (Ireland), B. Braun (Germany), Dexcom (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care (Switzerland), LifeScan (US), Tidepool (US), AgaMatrix (US), Glooko Inc. (US), and DarioHealth (Israel).
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