The global digital diabetes management market was valued at USD 14.8 Billion in 2021 and it is anticipated to grow up to USD 71.9 Billion by 2031, at a CAGR of 17.1% during the forecast period.
Digital diabetes management (DDM) is the use of digital technologies to help people with diabetes manage their disease. This can include apps, websites, wearable devices, and other tools that help people track their blood sugar levels, monitor their diet and activity, and receive guidance and support from healthcare providers. Digital diabetes management can help people with diabetes better manage their disease and improve their health. For example, tracking blood sugar levels can help people identify patterns and make necessary adjustments to their diet or medication. Monitoring activity can help people ensure they are getting enough exercise. And receiving guidance and support from healthcare providers can help people stay on track with their treatment plans.
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Market Trends and Drivers
The growing number of diabetic patients around the world will benefit from the use of digital diabetes management products and services. According to the International Diabetes Federation (IDF), almost 463 million people worldwide had diabetes in 2019. The need for continuous blood glucose monitoring among thes Along with rising disease burden, rising diagnostic and treatment cost will have a favourable impact on market statistics. The growing knowledge of diabetes management and home care will add to the high cost of diagnosis, encouraging total market growth. Diabetes patients rely heavily on continuous monitoring tools and must seek treatment in the event of fluctuations in order to avoid serious complications. Thus, technology advancements in disease management enable diabetes management through the use of digital devices, allowing for the tracking, monitoring, and sharing of lifestyle data with concerned healthcare professionals. As a result, rising adoption of novel technologies for chronic disease management will drive the digital diabetes management market growth.
Market Restraints and Challenges
There are a few key restraints and challenges in the Digital Diabetes Management market. Firstly, the lack of awareness about digital diabetes management solutions and their benefits among patients and healthcare professionals is a major challenge. Secondly, the high cost of these solutions is another key restraint. Lastly, the lack of standardization in digital diabetes management is also a key challenge.
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Global Digital Diabetes Management Market Segmentation
By Product
- Smart Glucose Meter
- Continuous Blood Glucose Monitoring System
- Smart Insulin Pens
- Smart Insulin Pumps
- Apps
Major Players in the Global Digital Diabetes Management Market
The key players in the digital diabetes management market Abbott Laboratories, Medtronic Plc., F.Hoffmann-La Roche Ltd., Dexcom, Inc., Senseonics, Insulet Corporation, Tandem Diabetes Care, Inc., Ypsomed, Ascensia Diabetes Care Holdings Ag, and Tidepool, among others.
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