Digital Diabetes Management Market

Market Overview

The global digital diabetes management market size was valued at USD 10.74 billion in 2021. It is projected to reach USD 20.6 billion by 2030, growing at a CAGR of 7.7% during the forecast period (2022–2030).

Digital medicine, digital research, and AI have the potential to revolutionize the field of diabetes by enabling continuous and unburdening remote monitoring of patients' symptoms, physiological data, behaviors, and social and environmental contexts via wearables, sensors, and smartphone technologies. The digital diabetes management system assists patients with self-management and disease control.

Digital engagement can be vital in delivering optimal care to people with type 1 and type 2 diabetes. Digital diabetes monitoring systems consist of hardware, mobile software, and an extensive cloud computing infrastructure for data storage. A "smart glucose monitor" is a wireless blood glucose monitor that measures and transmits blood glucose data to an iOS or Android-powered mobile device. The anytime, anywhere nature of digital technology enables patients to address their health issues by connecting with the healthcare team and sharing data. The increasing need for a digital ecosystem of data-driven tools that can connect patients and their care team for better management of diabetes drives the market growth.

Market Dynamics

Global Digital Diabetes Management Market Drivers

Technological Advancements

The medical devices industry has witnessed significant technological advances in the field of diabetes care, such as the emergence of sensor-based CGM technology, implantable digital diabetes management devices, closed-loop systems, and smartphone-based diabetes management devices. Advanced technological systems have increased the ability to manage diabetes and made it feasible to establish tight control while enabling patients, children, and families with a more flexible schedule and food. Currently available digital diabetes care options are competitive with their analog counterparts, such as prefilled syringes, glucose meters, test strips, and insulin pumps. New digital solutions are more convenient than traditional diabetes management medicines. Eversense XL by Sensionics exemplifies the importance of non-invasive, linked sensor advancements in improving the accuracy of blood glucose monitoring and the durability of CGM devices. Similar minimally invasive approaches include skin patches, gas sensors, radio-wave technology, and microneedles.

Rising Incidence of Diabetes

The World Health Organization predicted that diabetes will be the seventh-largest cause of mortality at the end of 2030. Stress, sedentary lives, bad diets, and obesity are the key risk factors for developing diabetes. Changes in physiology associated with aging also contribute significantly to developing diabetes. According to diabetes prevalence estimates, the prevalence of diabetes increases with age. Diabetes prevalence is lowest among 20–24-year-old adults (2.2 percent in 2021). Diabetes prevalence among persons aged 75–79 is predicted to reach 24.0 percent in 2021 and climb to 24.7 percent by 2045. Consequently, the increasing elderly population and population exposure to key risk factors are anticipated to increase demand for digital diabetes management solutions across significant regions.

Global Digital Diabetes Management Market Restraints

Greater Acceptability of Conventional Diabetes Management Equipment

Patients in many geographic regions continue to favor traditional diabetes management methods. Due to the low cost and lack of information about linked devices and apps, many patients avoid digital platforms and favor traditional blood glucose. In some countries, the poor adoption of smartphones, tablets, and laptops for diabetes care has also impacted the acceptance of innovative technologies. Most current apps and platforms are not utilized by older patients, non-English speakers, and individuals with physical disabilities. This is especially true in Asia-Pacific, Middle Eastern, and African nations, where low awareness, a lack of trained personnel, and unfavorable/negligible reimbursements have hindered the usage of digital diabetes treatment. In China and India, the dependence on alternative traditional diabetes control approaches, such as herbal medicines, is impeding market expansion.

Global Digital Diabetes Management Market Opportunities

Implementation of Artificial intelligence

Artificial intelligence (AI) is a rapidly expanding discipline, and its applications in diabetes diagnosis and management have revolutionized the approach to this chronic disease. Machine learning principles have been applied to developing predictive algorithms for the risk of getting diabetes and its complications. Digital therapeutics have proven to be an effective lifestyle treatment intervention for the control of diabetes. Patients are increasingly empowered for diabetic self-management, and clinical decision support benefits patients and healthcare professionals.

Technological advancements have helped to optimize diabetes resource utilization. These sensible technological innovations have improved glycemic management, decreased fasting and postprandial glucose levels, glucose excursions, and glycosylated hemoglobin. Livongo Health (US) employs a big-data-enabled strategy to assist individuals in managing their health and enhancing their lifestyles. Several individuals are utilizing the company's new goods, such as blood glucose meters, blood pressure cuffs, and scales, which may collect and transmit data to a more extensive database. The organization then uses this information to generate complete insights for the benefit of patients.

Regional Analysis

The global digital diabetes management market is split geographically into North America, Europe, Asia-Pacific, and LAMEA.

North America will dominate the market due to the proliferation of smart consumer devices and the development of AI-based services. In addition, the region is in the subsequent phase of the digital transformation of concepts such as the IoT, big data, machine learning, and robotics. Due to novel product launches and prominent competitors in the area, Europe will also likely grab a significant market share during the projection period.

Asia-Pacific is anticipated to have exponential growth over the forecast period due to the introduction of new products and a considerable diabetes population. Currently, roughly 56.23% of the world's population, or more than 230 million individuals, have diabetes. Additionally, the region is witnessing numerous new debuts. For example, Roche Diabetes Care India launched its Integrated Diabetes Management Solution (IDMS) program in India by introducing the Accu-Chek Instant blood glucose monitoring (BGM) device and the My Sugar app. This combo represents the introduction of next-generation BGM systems.

Segmental Analysis

The global digital diabetes management market is segmented by product, app, and type.

Based on product, the market is divided into smart glucose meters, continuous blood glucose monitoring systems, smart insulin pens, and smart insulin pumps.

Continuous blood glucose monitoring systems retained the most significant market share due to their connectivity with smart devices that function as display devices. In addition, they can be configured to send patients personalized notifications when specified glucose thresholds are met. The sector of smart insulin pens is anticipated to grow at a higher CAGR during the forecast period. The segment's high growth rate is mainly attributable to the increasing number of product launches in digital healthcare and the introduction of artificial intelligence. Many market participants are concentrating on creating intelligent insulin pens to remain competitive. For instance, Companion Medical's recently introduced InPen system is the first FDA-approved solution compatible with smartphone applications.

Based on the app, the market is divided into digital diabetes management apps and weight and diet management apps.

Digital diabetes management apps held the most significant market share, and the segment's rise is attributable primarily to patients' growing desire for these applications. These applications provide continuous monitoring of blood glucose levels and are commonly utilized by the elderly. Weight and diet management apps maintain a significant market share due to rising awareness of chronic diseases such as diabetes and their associated problems. These applications utilize modern digital data analytics to enable healthcare providers to give patients the optimal treatment. Improved health outcomes, reduced error rates, and decreased healthcare expenditures drive this market category.

Based on type, the market is divided into wearable devices and handheld devices.

Wearable devices held the most significant market share, and this sector is predicted to grow at the fastest rate during the forecast period. Technological advancements such as the advent of artificial intelligence, the increasing adoption of self-administering insulin delivery devices in diabetes management, and the introduction of new products such as closed-loop pump systems and smart insulin patches are primarily responsible for the market's expansion. The portable device segment is projected to rise steadily during the forecast period. This is primarily attributable to the introduction of new products in the market. For instance, Insulet Corporation's handheld dash system was granted FDA certification. The device is a touch-screen diabetes manager with Wi-Fi connectivity that enables remote software updates.

Recent Developments

• In April 2022, Abbott’s Aveiro VR pacemaker helps with slow heart rhythms and gives a competitive boost to cardiac rhythm management.
• In June 2022, Abbott announced developing a novel continuous glucose-ketone monitoring system.
• In May 2022, EuroPCR: Medtronic renal denervation system shows better blood pressure control with significantly more time in the target range.
• In May 2022, New data supported renal and cardiovascular benefits of Kerendia™ (finerenone) in patients with and without a history of left ventricular hypertrophy and chronic kidney disease, and type 2 diabetes.