digital diabetes management Market to See a Massive Financial Boost in the Forecast To | Top Key Players – Medtronic PLC ,Hoffmann-La Roche ,Dexcom, Inc. ,Ascensia Diabetes Care Holdings Ag. ,Abbott Laboratories
Growing adoption of cloud-based enterprise solutions for diabetes management and increasing penetration of digital platforms are some key trends supplementing the growth of the global digital diabetes management market over the forecast period of 2018-2025.
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Global digital diabetes management market to reach USD 24.8 billion by 2025.
Global Digital diabetes management Market valued approximately USD 4.5 billion in 2017 is anticipated to grow with a healthy growth rate of more than 23.8 % over the forecast period 2018-2025.
Key driving factors for the digital diabetes management market are rising prevalence of diabetes coupled with the changing lifestyles that results in to unhealthy dietary habits and patterns. According the Health Metrics – American Heart Association, in 2010 the prevalence of diabetes for adults was recorded to be 6.4% globally. This is expected to increase and reach up to 7.7% by the end of 2030, across the globe.
Similarly, as per the MRC United Kingdom 2015, the estimated diabetes prevalence for adults between age group of 20-79 worldwide was around 387 million in 2014 which is estimated to reach around 592 million people by 2023.
Top key Players : Medtronic PLC ,Hoffmann-La Roche ,Dexcom, Inc. ,Ascensia Diabetes Care Holdings Ag. ,Abbott Laboratories ,B. Braun Melsungen AG ,Tidepool ,Glooko, Inc. ,Lifescan, Inc. (A Subsidiary of Johnson & Johnson) ,Agamatrix, Inc.
The regional analysis of digital diabetes management market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW.
On the basis of segmentation, the digital diabetes management market is segmented into product & services, type and end-user.
The product segment of global digital diabetes management market is classified into devices, digital diabetes management apps, data management software and platforms and services.
The type segment of global digital diabetes management market includes handheld devices and wearable devices of which wearable devices dominates the market owing to the growing adoption if smart insulin pumps and technological advancements.
Based on end-user segment, the market is diversified into Self/Home Healthcare, Hospitals & Specialty Diabetes Clinics and academic & research institutes of which self/home healthcare segment hold the leading position owing to the shift towards home care and self-management of diabetes.
Increasing diabetes related health expenditure in emerging countries offers lucrative growth prospects for the digital diabetes management market across the globe. However, high cost associated with devices along with the low penetration rate are expected to hinder the growth of the market during the forecast period.
North America holds the leading position in Digital diabetes management market owing to the growing demand for technologically advanced solution such as closed-loop systems, favorable reimbursement policies and government efforts to promote digital health.
Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to improving healthcare infrastructure and services in rural areas
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Years considered for the study are as follows:
- Historical year 2015 , 2016
- Base year 2017
- Forecast period 2018 to 2025
Target Audience of the Market Study:
- Key Consulting Companies & Advisors
- Large , medium-sized , and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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