Digital Diabetes Management Market

The global digital diabetes management market, valued at US$16.3 billion in 2022, is forecasted to grow at a robust CAGR of 13.6%, reaching US$18.9 billion in 2023 and an impressive US$35.8 billion by 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The demand for better diabetes care solutions has grown of greater significance as diabetes prevalence has increased. Additionally, technological developments have made it possible to introduce highly adaptable solutions to the market. Other significant drivers of market growth include the increasing popularity for the use of connected devices and apps as well as the growing adoption of cloud-based enterprise solutions. However, during the forecast period, growth in this market is expected to be restricted by factors like high device costs, a lack of reimbursement in developing countries, and a higher acceptance of traditional diabetes management devices.

Global Digital Diabetes Management Market Trends

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Digital Diabetes Management Market Dynamics

Driver: Advent Of Artificial Intelligence In Diabetes Care Devices

Artificial intelligence (AI) is a fast-growing field, and its applications in diabetes have reformed the approach to the diagnosis and management of this chronic condition. Principles of machine learning have been used to build algorithms to support predictive models for the risk of developing diabetes or its consequent complications.

Technical advances have helped to optimize resource use in diabetes. Together, these intelligent technical reforms have produced better glycemic control with reductions in fasting and postprandial glucose levels, glucose excursions, and glycosylated hemoglobin. AI will introduce a paradigm shift in diabetes care from conventional management strategies to building targeted data-driven precision care. Livongo Health (US), for example, is using a big-data-enabled approach to help people manage their health and improve their lifestyles. Several people are using the company’s innovative products, including blood glucose meters, blood pressure cuffs, and scales, which have the ability to collect data and send it to a larger database. This data is subsequently used by the company to generate comprehensive insights for the benefit of patients.

Several companies are leveraging artificial intelligence (AI) in diabetes care devices to enhance monitoring, management, and treatment of the condition. Here are a few notable examples:

Medtronic: Medtronic is a leading medical technology company that has developed an artificial pancreas system called the MiniMed 670G. This closed-loop system uses AI algorithms to automatically adjust insulin delivery based on continuous glucose monitoring. The AI-powered system aims to maintain optimal glucose control and reduce the burden on individuals with diabetes.

Abbott: Abbott's FreeStyle Libre system utilizes AI algorithms to provide glucose trend predictions and alerts. The device continuously monitors glucose levels, and the accompanying mobile app uses AI to analyze the data and provide insights to help individuals make informed decisions about their diabetes management.

Dexcom: Dexcom is known for its continuous glucose monitoring (CGM) systems, such as the Dexcom G7. These devices use AI algorithms to analyze glucose data and provide real-time information on glucose trends, enabling users to proactively manage their diabetes. Dexcom's algorithms also provide predictive alerts for hypoglycemia and hyperglycemia.

Restraint: High cost of devices and lack of reimbursement in developing countries

The cost of insulin delivery devices, such as smartphone-connected insulin pumps, is ~USD 4,500–6,500. Moreover, the average selling price of sensor-based continuous glucose monitors is USD 1,000–1,400, with sensors requiring replacement every few days. Digital self-monitoring blood glucose meters cost around USD 15–20. Given the high initial cost and the frequent use of associated consumables (requiring repeated purchase), this puts advanced devices out of reach for a large portion of end users—particularly those in developing countries with an unfavorable reimbursement scenario.

In developed countries, the cost of currently marketed devices is covered under most commercial health plans; in developing countries, disparities in reimbursement policies often result in non-compliance to treatment. In China and India, patients with diabetes are required to entirely bear the expenses for blood glucose monitors, insulin, integrated CGM systems, and their maintenance. Consequently, the high costs and lack of reimbursements in developing countries can be expected to limit the adoption of digital diabetes management solutions in the coming years.

Opportunity: Increasing diabetes-related health expenditure

The increase in global health expenditure due to diabetes has been considerable, growing from USD 232 billion in 2007 to USD 966 billion in 2021 for adults aged 20–79 years. This represents a 316% increase over 15 years. Part of this increase can be attributed to improved data quality. The direct costs of diabetes are expected to continue to grow. The IDF estimates that total diabetes-related health expenditure will reach USD 1.03 trillion by 2030 and USD 1.05 trillion by 2045 (Source: IDF Atlas 2021). The North America and Caribbean region has the highest diabetes-related health expenditure per adult with diabetes (USD 8,209), followed by the Europe region (USD 3,086), South and Central America region (USD 2,190), and WP region (USD 1,204). This figure is USD 465 per person with diabetes in the Middle East and North Africa region, USD 547 in the Africa region, and USD 112 in the Southeast Asia region. Expenditure due to diabetes has a substantial impact on total health expenditure worldwide, representing 11.5% of the total global health spending. Considering the increasing diabetes-related health expenditure in emerging countries, many digital diabetes management device manufacturers are focusing on expanding their business in these markets to capitalize on new opportunities.

Challenge: Low penetration in developing economies

The penetration of technologically advanced digital diabetes management platforms is comparatively less in developing countries as opposed to developed countries. This is attributed to the inadequate infrastructure, unclear nationwide e-health agendas, the need to overcome public uncertainty over data privacy and security, difficulties in achieving interoperability, lack of a trained workforce in health informatics (and existing initiatives for its development), and fewer strategies to achieve regional integration.

In developing countries, low levels of private and public financial resources are spent on health, which affects access to healthcare as well as the quality of the health system. According to a WHO and World Bank report, as of 2021, 480 million people do not have access to essential health services (mostly in Africa and South Asia) and up to 5 billion people will still be unable to access health care in 2030. Poor access and quality and low levels of digitization have negative implications on not only key health outcomes but also the poverty rate. The result is a general reluctance and inability to fully adopt advanced solutions, including those for digital diabetes management.

Digital Diabetes Management Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers of Digital Diabetes Management. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).

Smart Insulin Pen segment of digital diabetes management industry to grow at the highest CAGR during the forecast period.

The demand for insulin pens has increased considerably in recent years owing to the increasing incidence of diabetes, low cost of insulin pens, and less painful and more effective insulin delivery. The other key factors driving the growth of this segment of the digital diabetes management market include the increasing demand for personalized or patient-centric devices and the increasing need to prevent needle-stick injuries. However, the limited use of smart insulin pens for patients requiring a mixture of two types of insulins is restricting the growth of this market segment.

Wearable devices segment held the largest share in the digital diabetes management industry in 2022.

The digital diabetes management market is divided into handheld and wearable devices based on device type. In 2022, wearable devices accounted for 60.3% of the market for digital diabetes management devices. The significant market share of this segment is primarily attributable to a number of developments, including the rise in closed-loop pump systems, smart insulin patches, and other pipeline devices, as well as the increasing adoption of smart insulin pumps and insulin patches for self-insulin delivery for the management of diabetes.

The Digital Diabetes Management Apps segment of the digital diabetes management industry to grow at the fastest CAGR during the forecast period”

The Digital Diabetes Management Apps segment is projected to grow at the highest CAGR of 15.4% during the forecast period. This segment is further categorized into diabetes & blood glucose tracking apps and weight & diet management apps. The diabetes & blood glucose tracking apps segment accounted for a share of 44.9% of the digital diabetes management market in 2022.

North America will grow by highest CAGR in the digital diabetes management industry, by region.

In 2022, North America will grow by highest CAGR in the digital diabetes management market, by region, followed by Europe, Asia Pacific, Latin America, Middle East & Africa. The highest CAGR of North America can be attributed to the growing adoption of connected diabetes management devices, increasing adoption of diabetes management and obesity apps, growing demand for technologically advanced solutions, increased acceptance of digital diabetes solutions from payers, government initiatives to promote digital health, and rising awareness on self-diabetes management in the region.

Geographic Snapshot: Digital Diabetes Management Market

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The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).

Scope of the Digital Diabetes Management Industry

The research report categorizes closed system transfer device market to forecast revenue and analyze trends in each of the following submarkets:

By Product & Service

• Devices
  • Smart Glucose Meters
  • Continuous Glucose Monitoring (CGM) Systems
  • Smart Insulin Pens
  • Smart Insulin Pumps/Closed-loop Pumps & Smart Insulin Patches
• Application
  • Diabetes & Blood Glucose Tracking Apps
  • Obesity & Diet Management Apps
• Data Management Software & Platforms
• Services

By Device Type

• Handheld Devices
• Wearable Devices

By End User

• Self/Home Healthcare
• Hospitals & Specialty Diabetes Clinics
• Academic & Research Institutes

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of LATAM
• Middle East and Africa

Recent Developments of Digital Diabetes Management Industry

• In February 2023, Dexcom launched Dexcom G7 CGM device in the US and is planning to launch in Europe and Asia Pacific by first quarter of 2024
• In October 2022, Abbott laboratories launched Freestyle Libre 3 CGM device worldwide.
• In April 2022, Dexcom launched Dexcom ONE device. The company launched the new Dexcom ONE Continuous Glucose Monitoring System in the UK.
• In April 2022, Ascensia Diabetes Care Holdings AG (Switzerland) launched Eversense's 6-month CGM system in the US.
• In October 2021, LifeScan, Inc. (US) launched OneTouch Solutions. This is a holistic digital health offering linking people with diabetes to solutions and support from proven experts.
• In September 2020, Roche Diagnostics (Switzerland) launched a remote patient monitoring ssolution, which is a new element of the RocheDiabetes Care Platform and uses its pattern detection feature.

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