Digital Diabetes Management Market: Emerging Growth Analysis With Impact of COVID-19, Business Growth Outlook Forecasting By 2027

 

The report titled “Global Digital Diabetes Management Market: Global Demand Analysis & Opportunity Outlook 2027” delivers a detailed overview of the global digital diabetes management market in terms of market segmentation by product type, product and services, end-users, and by regions.

Research Nester has recently announced its latest research on The global digital diabetes management market is segmented on the basis of product type, product and services and end-users. On the basis of product type, it is sub-segmented into handheld and wearable devices. Based on product and services, it is sub-segmented into diabetes management apps, devices, data management software and platforms and services and based on end user, it is sub-segmented into self/home healthcare, hospitals, specialty diabetes clinics, research and academic institutes. The worldwide focus on effective diabetes management for patients who are suffering from diabetes by the digital diabetes management industries is anticipated to be the major reason behind the growth of the market over the forecast period i.e. 2019-2027.

The global digital diabetes management market is anticipated to expand at a CAGR around 23.7% during the forecast period. Rising diabetic population coupled with the rise in the geriatric population are anticipated to be the prime reasons driving the growth of the market. Additionally, increased adoption of digital platforms and enhancement in the smartphone users across the globe are estimated to boost the market shares in upcoming years.

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Geographically, the global digital diabetes management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, North America is anticipated to dominate the market on account of booming digital platform, rising prevalence of diabetes coupled with improved reimbursement policies. Further, growing rate of smartphone users, higher investment on research by the government, advanced healthcare infrastructure and digital platform adoption is anticipated to boost the market growth across the region. Further, the Europe market is estimated to hold second largest market share on the back of growing diabetes population, increase in the healthcare expenditure and higher adoption of smartphones.

Prevalence of Diabetes to Influence Market Growth

The growing rate of geriatric population across the globe is directly related to the increase in the diabetic population as the impaired glucose regulation and sudden hormonal changes occur in people who grow old. According to National Institute of Health (NIH), older population across the world is anticipated to enhance in an unprecedented manner. Worldwide, 8.5% of the total world population (617 million) are aged 65 and over. According to the latest report, this percentage is anticipated to rise approximately 17% of the total global population by the year 2050 (1.6 billion). Therefore, the growing rate of older population that is more prone to diabetes is estimated to fuel the growth of the market over the forecast period.

However, digital diabetes management is very expensive and there is a lack of reimbursement in the developing nations, due to which, people are adopting and accepting traditional diabetes management devices. These factors are expected to restrain the growth of the market over the forecast period.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.This report also provides the existing competitive scenario of some of the key players of the global digital diabetes management market which includes company profiling of Medtronic, Insulet Corporation, Lifescan Inc., Ascensia Diabetes Care, AgaMatrix, Glooko Inc., Tidepool, Dariohealth, Dexcom,B.Braun, Abbott Laboratories, Tandem Diabetes Care and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global digital diabetes management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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