during the forecast period. The rising prevalence of diabetes has increased the focus on developing and adopting better solutions for diabetes care. Technological developments have also led to the introduction of highly flexible solutions on the market.
New York, Apr. 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of its report “Digital Diabetes Management Market by Product, Device Type, End User – Global Forecast to 2027” – https://www.reportlinker. com/p05730155/?utm_source=GNW
The increasing adoption of cloud-based business solutions and the increasing use of connected devices and apps are some of the other key factors supporting the market growth. However, factors such as high device costs, lack of reimbursement in developing countries, and higher adoption of traditional diabetes management devices are expected to curb the growth of this market over the forecast period.
The smart glucose meter segment accounted for the largest share of the digital diabetes management market.
The device segment is divided into smart glucose meters, CGM systems, smart insulin pens and smart insulin pumps/closed-loop systems and smart insulin patches. In 2021, the smart glucose meter segment accounted for 25.2% of the digital diabetes management device market. The growth of this segment is mainly attributed to the ease of use of smart glucose meters, as well as their advantages in the early detection of hypo- and hyperglycemic diabetes. Technological innovations such as all-in-one glucometers with analytics capabilities, Bluetooth-enabled glucometers and pocket-sized portable glucometers are some of the other factors driving the growth of this market segment.
The wearable device segment is growing at the highest CAGR during the forecast period.
Different devices considered in the digital diabetes management device market are divided into wearable devices and wearable devices. Wearable devices accounted for the largest 60.3% share of the digital diabetes management device market in 2021. This segment is estimated to grow at the highest CAGR of 13.2% during the forecast period. The increasing number of regulatory approvals for wearables, technological advancements and the growing adoption of smart insulin pumps and insulin patches are driving the growth of the wearables market.
The Self-care/home-care segment had the largest share of the digital diabetes management market in 2021
The self/home care segment accounted for the largest share of the digital diabetes management market in 2021. This is mainly attributed to the increasing patient acceptance of home care as a result of the increasing awareness of digital diabetes management platforms.
Self-administration is especially useful for patients who require regular insulin therapy. For patients who require long-term therapy, inpatient care is not only extremely expensive, but it also prevents them from being able to resume their normal lifestyle.
North America accounted for the largest share of the digital diabetes management market in 2021
In 2021, North America accounted for the largest market share at 41.4%, followed by Europe with a share of 29.0%. North America dominates the digital diabetes management market primarily due to the increasing adoption of connected diabetes management devices, increasing adoption of diabetes management and obesity apps, growing demand for technologically advanced solutions, increased adoption of digital diabetes solutions by payers, government initiatives to promote digital health and increasing awareness about self-diabetes management in the region.
Below is a summary of the primary participants (supply side) for the Digital Diabetes Management Market referenced in this report:
• By business type: Tier 1-46%, Tier 2-33% and Tier 3-21%
• By designation: C Level–43%, Director Level–35% and Others–22%
• By Region: North America-34%, Europe-26%, Asia-Pacific-19%, Latin America-11% and Middle East & Africa-10%
The prominent players in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (USA), Abbott Laboratories (USA), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (USA), Tandem Diabetes Care (USA), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (USA), DarioHealth Corporation (Israel), One Drop (USA), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (USA), Care Innovations, LLC (USA), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (USA), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany) and BeatO (India) .
The market research covers the digital diabetes management market in different segments. It aims at estimating the market size and growth potential of this market in various segments by product and service, by device type, end user and region.
The study also includes an in-depth competitive analysis of the key market players along with their company profiles, key observations related to their product and company offerings, recent developments and key market strategies.
Key benefits of buying the report:
The report will assist market leaders/new entrants in this market and provide information about the best approaches to the Digital Diabetes Management market and its segments. This report will help stakeholders understand the competitive landscape, gain insights to better position their businesses and plan appropriate go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and obtain information regarding key market drivers, restraints, opportunities and challenges.
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