Digital Diabetes Management to skyrocket with the demand for home health care
Digital Diabetes Management Market Size and Growth Rate:
According to the research report, the Digital Diabetes Management Market size was valued USD 7 Billion in 2019, and it is expected to reach USD 20 Billion by the end of 2024, with increasing at a CAGR of 24% during the forecast period 2019-2024.
Digital Diabetes Management Market Demand:
The rise in the demand for self-care or home healthcare is also a supplementing factor for this market. The growing penetration of smartphones that provide various applications to track health condition can also fuel this market. Furthermore, the augmenting demand for wearables, rising disposable income of the people, increasing investments from the market players are expected to intensify the growth opportunities for digital diabetes management market in the coming years.
The increasing number of diabetic patients around the world coupled with the technological enhancements has been the driving factor for the digital diabetes management market in the recent years. The advent of wearable devices has altogether altered the healthcare industry, supporting this market as well. The multiple benefits of these wearables along with their appealing appearances has made all sections of people turn towards them. This trend is expected to continue in the future, creating humongous opportunities for the global market. Several other enhancements like closed-loop pumping systems, smart insulin patches and other deliverables are also complementing the market demand.
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Fortunately, the recent advances in the technology has introduced several applications and devices that help in regular monitoring of blood glucose levels. One such advancement is the digital diabetes management, which involves constant tracking of the health condition of the patient using digital medium. This technology helped healthcare providers and doctors to have complete access to the health records pf their patients, allowing them to prescribe treatment even from remote locations.
The increasing sophistication and changes in lifestyle have resulted in few adversities like diabetes and obesity. Continuous research has been going to prevent the rapid spread of these epidemics around the world. New medicines, treatments, and devices are seeing light every day that can help in reducing the levels or consequences of diabetes. Irrespective of age, all groups of population are vulnerable to these conditions.
Geographical Presence:
Geographically, the market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America has been dominating the global market from many years and is expected to retain its dominion in the forecast period. The advanced healthcare system of the region, presence of the key market players, demand from local population for self-care like smart insulin patches, blood glucose monitoring apps, etc, favorable reimbursement policies, and the other factors are bolstering the market demand in North America.
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Key Players profiled in this report are:
• Abbott Laboratories
• Roche Diagnostics
• Medtronic
• Lifescan
• Dexcom
• DarioHealth
• Company 7
• Company 8
• Company 9
• Company 10
Detailed Segmentation of Digital Diabetes Management Market:
By Product Type:
• Applications
• Software
• Services and Equipment
By Device Type
• Hand-held
• Wearables
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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