Pune, India, March 9, 2021 (GLOBE NEWSWIRE) –
Digital Diabetes Management market size is expected to grow at a significant CAGR over the forecast period, requiring accurate, evidence-based and personalized solutions among diabetes patients. The global rise in the incidence of diabetes has been linked to a variety of factors, including inactive lifestyles, poor eating habits, and related conditions such as obesity. Older people make up a significant part of the global diabetic population and therefore an aging world population is constantly driving the need for new digital solutions for diabetes care.
Digital diabetes monitoring and management solutions include a range of technologies, devices, applications, platforms, and services that assist patients with glucose monitoring, insulin management, nutritional management, and the maintenance of other parameters of health. Let’s take a look at how the global digital diabetes management industry will perform in the near future and examine some of the top trends that are driving the industry outlook.
Type 1 and type 2 diabetes prevalent in North America
The number of patients with type 1 diabetes in North American countries has increased significantly over the years. These patients require continuous monitoring of blood sugar and insulin levels to maintain optimal health. Digital diabetes care products serve such patients as an inexpensive and promising solution. Based on these factors, it is estimated that the adoption of digital diabetes management solutions for type 1 diabetes patients in North America will increase with a CAGR of approximately 17.9% by 2027.
On the flip side, the type 2 diabetes segment will continue to dominate the regional market and grow with a CAGR of over 18.7%, with increasing awareness of self-medication and the need for bespoke solutions.
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Presence of leading medical device manufacturers in the USA and Canada
The US digital diabetes management market size was estimated at $ 3 billion in 2020 and is expected to grow significantly in the future. The International Diabetes Federation estimates that the number of diabetics in the country will reach 36 million by 2045.
Meanwhile, the digital diabetes management industry is gathering pace, with a healthy CAGR of 19% by 2027. Robust research and development in the field of diabetes care has resulted in numerous innovations in recent years. Citing an example, Dexcom, a leading manufacturer of glucose monitoring devices, received Health Canada approval for its G6-CGM in February 2019. It is an advanced solution for diabetics and can be used by patients over the age of two.
Robust demand in hospitals and home care facilities in Europe
The European digital diabetes management industry generated nearly $ 1.2 billion from home care facilities in 2020 and will see similar trends going forward. Many elderly people live in the region. In fact, Europe reports that in 2019 over 20% of the EU-27 population was 65 years of age or older. These factors are leading to widespread adoption of digital diabetes care solutions in the elderly, enabling them to monitor and manage health parameters at the comfort of their homes.
However, hospitals will continue to dominate regional trends and create significant demand for these solutions in the years to come. In 2020, European hospitals had a market share of around USD 1.3 billion.
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Growing popularity of smart CGMs and smart insulin pens in Asia Pacific
Smart CGMs have quickly proven to be a reliable and efficient solution to reducing hypoglycemia and the time it takes to reach the target glucose range. These devices give healthcare professionals more data so they can provide instant feedback to patients and improve patient outcomes. In 2020, the Asia-Pacific smart CGM market had annual sales of more than $ 950 million and is expected to see remarkable growth through 2027.
The adoption of smart insulin pens in the Asia-Pacific region is expected to grow at a robust CAGR of 21.3%. The regional manufacturers are working with other players to implement advanced networked technologies in these devices and improve their accuracy.
Access sample pages from the report. “Asia Pacific Digital Diabetes Management Market Forecasts 2027” in detail together with the table of contents (ToC) @
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Rising health care spending and cheap government initiatives in APAC
China has one of the world’s largest numbers of diabetes patients. In fact, nearly 116 million people in the country had diabetes in 2019. Additionally, the cost of diabetes per person increased dramatically from $ 115 to $ 936.2 between 2010 and 2019. China had a sales share of around 19% of the Asia-Pacific digital diabetes management market in 2020 and will see commendable growth through 2027.
In India, the adoption of digital diabetes monitoring solutions is expected to increase by 21% CAGR over the next few years. In addition to constant investment in health infrastructure development, the government has taken numerous measures to raise awareness of diabetes and reduce the burden of disease.
Continuous technological advancement and the development of innovative digital solutions for the monitoring and management of diabetes will offer favorable growth prospects for the industry. Newer, more advanced solutions enable the personalization of diabetes care as patients can work with their health care professionals to determine which solution best fits their needs. Increased accuracy and efficiency of these devices could allow patients to improve glycemic control while reducing the risk of hypoglycemia.
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