(PharmaNewsWire.Com, March 27, 2020 ) What are the Global Growth Factors?
The major factors driving the growth of digital diabetes management market include the rising prevalence of diabetes, technological advancements, increasing adoption of cloud-based enterprise solutions, and the growing use of connected devices and apps.
What The Experts Says about the Market Growth?
The digital diabetes management market is projected to reach $19.9 billion by 2024 from an estimated $6.8 billion in 2019, at a CAGR of 23.8%.
Wearable devices segment to witness the highest growth in the digital diabetes management devices market, by type
Based on type, the digital diabetes management devices market is segmented into wearable devices and handheld devices. The wearable devices segment accounted for the largest share of the digital diabetes management devices market in 2018.
By product & service, the devices segment accounted for the largest share of the digital diabetes management market
Based on product & service, the market is divided into devices, apps, data management software & platforms, and services. The devices segment accounted for the largest market share in 2018. 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.
North America accounted for the largest share of the digital diabetes management market in 2018, followed by Europe and the Asia Pacific. Factors such as growing adoption of connected diabetes management devices, high adoption of diabetes management apps, growing demand for integrated hybrid closed-loop systems.
Key Market Players:
Prominent players in the global 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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