According to the deep-dive market assessment study by Growth Plus Reports, the global digital diabetes management market is valued at US$ 12.8 billion in 2022 and is expected to register a revenue CAGR of 7.9% to reach US$ 25.37 billion by 2031

Digital Diabetes Management Market Fundamentals

Digital diabetes management refers to the use of digital technologies, such as mobile applications, wearable devices, and software platforms, to monitor, track, and manage diabetes. These digital tools aim to empower individuals with diabetes to better understand and control their condition, improve self-management, and enhance communication with healthcare providers. Digital diabetes management solutions offer a range of features and functionalities that assist individuals with diabetes in various aspects of their daily management routine.

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Digital Diabetes Management Market Dynamics

The rising prevalence of diabetes and technological advancements are largely responsible for the growth of the global digital diabetes management market. For instance, according to the International Diabetes Federation, approximately 536,600 adults are living with diabetes, which is expected to reach 783,700 in 2045. The surge in diabetes cases worldwide is being attributed to fast-evolving lifestyles, such as smoking and alcohol intake. Additionally, one of the main causes of diabetes is obesity. With the rising number of obese people and greater patient awareness, the digital diabetes management market shows tremendous potential. The market is anticipated to see a wide range of developments in the diabetes arena as digital technology is always improving, which has the potential to revolutionize the way one manages the condition. Due to the numerous advantages involved with using these pens, smart insulin pens are very popular. It assists in keeping track of the quantity of each insulin dose and transmits the insulin dose data utilizing the bluetooth devices that are connected. This is a significant advantage provided by cutting-edge digital diabetes control technologies. The makers of smart insulin pens are adding new capabilities to their devices to make them more user-friendly for people with diabetes. There has been a rise in demand for digital diabetes solutions among patients with type one diabetes or those who are insulin-dependent and require constant monitoring of blood glucose levels. The number of smartphone apps available for managing the disease has increased over the last few years, and over a hundred apps are available on web-based app stores that can help patients monitor their blood glucose levels.

Digital Diabetes Management Market Ecosystem

The global digital diabetes management market is analyzed from the following perspectives: product type, type, end user, and region.

Digital Diabetes Management Market by Product Type

Based on the product type, the global Digital Diabetes Management market is segmented into continuous blood glucose monitoring systems, smart insulin pens, smart insulin pumps, smart glucose meters, and apps.
The continuous blood glucose monitoring system segment held the largest revenue share. This is because of its sophisticated features, like compatibility with smart devices used as display devices. Additionally, it can be configured to notify patients in a specific way when specific glucose thresholds are met. The market has been divided into categories based on the product, including apps, continuous blood glucose monitoring systems, smart insulin pens, smart insulin pumps, and smart glucose meters.
The smart insulin pens segment is expected to expand at the fastest rate during the forecast period. The segment's rapid growth is mostly related to the rise of artificial intelligence and the rising number of product launches. The market is being driven by several players concentrating on developing smart insulin pens, boosting their presence, and increasing their product offerings. For instance, Novo Nordisk introduced intelligent insulin pens in the UK in March 2022. The first-ever monitoring and recording technology is now available to diabetic patients getting care through the NHS.

Digital Diabetes Management Market by Type

Based on the type, the global digital diabetes management market is segmented into handheld devices and wearable devices.
The wearable devices segment accounts for the largest revenue share, and the segment is expected to grow at the fastest revenue CAGR during the forecast period. Technology breakthroughs like the emergence of artificial intelligence, the introduction of novel technologies like closed-loop pump systems and smart insulin patches, and the expanding use of self-insulin delivery devices in diabetes treatment are largely responsible for the market's growth. With a sizable revenue share, the handheld devices segment has grown significantly over the past few years, largely due to new product introductions and technological developments. The portable diabetes devices may detect and record blood glucose levels, determine how much insulin has to be administered to the patient, collect patient data via a user interface, archive patient data, and carry out other tasks.

Digital Diabetes Management Market by End User

Based on the end user, the global digital diabetes management market is segmented into hospitals, home settings, and diagnostic centers.

The home settings segment accounts for the largest revenue share in the global digital diabetes management market. Modern digital gadgets are combined with user-friendly user interfaces in the devices currently on the market. Patients' growing awareness of managing diabetes is what is driving the demand for the use of these devices. Due to the devices' usefulness in enabling professionals to communicate critical data with the aid of digital platforms, this market is predicted to expand. Due to the prevalence of professionals in domestic settings worldwide, market dilution is projected in the future. Because of the favorable circumstances, digital diabetes management solutions were in great demand in the home settings segment during the pandemic.

Digital Diabetes Management Market by Region

Geographically, the global digital diabetes management market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America accounts for the highest revenue share in the global digital diabetes market. This is due to the accessibility of cutting-edge technology and the recent approval of a large number of digital blood glucose patient monitoring devices. For instance, Insulet Corporation announced in January 2022 that the Omnipod 5 Automated Insulin Delivery System, which connects to the Dexcom G6 Continuous Glucose Monitoring (CGM), has received FDA clearance. The Omnipod 5 mobile app simplifies uploading data and monitoring patients remotely thanks to its integrated Smart Bolus Calculator. Additionally, it is expected that the regional digital diabetes management market will expand due to the rising older population and the burden of diabetes brought on by changing lifestyles.

Europe’s digital diabetes management market accounts for the second position and is expected to grow at a significant revenue CAGR during the forecast period. The regional market is also anticipated to improve due to the presence of strong competitors in the European region, the release of new products, and good reimbursement policies.

Asia Pacific is projected to witness the fastest growth during the forecast period. This occurs due to new products being released, diabetes being more common, and growing government initiatives. For instance, the Australian Centre for Accelerating Diabetes Innovation (ACADI) at the University of Melbourne would receive USD 10 million over 4 years, according to a federal government announcement made in January 2022. The ACADI will be a new virtual research hub that will connect research facilities all over Australia and assist significant industry partners and organizations in developing novel treatments, technological advancements, and behavioral interventions to address diabetes-related issues in the country.

Digital Diabetes Management Market Competitive Landscape

The prominent players operating in the global digital diabetes management market are: -
• F. Hoffmann-La Roche Ltd.
• Medtronic Plc
• Ascensia Diabetes Care
• Abbott Laboratories
• Dexcom, Inc.
• Insulet Corporation
• B Braun Melsungen AG
• Sanofi S.A.
• Tandem Diabetes Care, Inc

Digital Diabetes Management Market Strategic Developments

• In May 2023, Medtronic plc announced its entry into a series of formal agreements to acquire the creator of the tubeless, wearable, and entirely disposable insulin patch maker EOPatch® device, created by EOFlow Co. Ltd.

• In April 2023, Glooko, Inc. announced a new international partnership with Hedia to integrate its technology into Glooko's platforms for managing diabetes that patients and healthcare professionals utilize. The collaboration will provide an interoperable solution that will improve access for patients with Type 1 and Type 2 diabetes who need direction on how much bolus insulin to inject by fusing connected care, remote patient monitoring, and digital therapeutic technologies.
• In May 2021, GlucoContro.online, a browser-based diabetes management and analytics platform that offers data-driven treatment for those who use one of the Contour blood glucose monitoring meters, was just launched, according to an announcement from Ascensia Diabetes Care.

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