DIGITAL DIABETES MANAGEMENT MARKET ANALYSIS

Digital Diabetes Management MarketSize and Trends

The global digital diabetes management market was valued at US$ 7.60 Bn in 2022 and is forecast to reach a value of US$ 38.55 Bn by 2030 at a CAGR of 22.5% between 2023 and 2030. The global digital diabetes management market is experiencing strong growth owing to the increasing prevalence of diabetes and growing geriatric population around the world. Moreover, the advent of Artificial Intelligence (AI) in diabetes management devices and increasing demand for digital diabetes management devices is expected to boost the growth of the market.

Figure 1. Global Digital Diabetes Management Market Share (%), by Region, 2023

Global Digital Diabetes Management Market: Regional Insights

Based on geography, the global digital diabetes management market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the increasing prevalence of diabetes, growing geriatric population, rise in adoption of digital diabetes management devices, and growing awareness among people in the region. For instance, according to the Centers for Disease Control and Prevention’s (CDC’s) National Diabetes Statistics Report (2022), over 130 Billion adults in the U.S. are living with diabetes or prediabetes. Growing rates of obesity, poor diets, and lack of physical activity, among others, have contributed to a more than three-fold increase in the number of adults living with diabetes. Europe and Asia Pacific are also expected to witness robust growth in the global digital diabetes management market owing to the rise in burden of diabetes, growing geriatric population, growing awareness among people, and increasing adoption of digital diabetes management devices in these region. For instance, according to the World Health Organization (WHO), Diabetes EURO, there are more than 60 Billion people with diabetes in the European Region, or about 10.3% of men and 9.6% of women aged 25 years and over. Europe has one of the highest prevalence of diabetes, and it is estimated that this figure will reach 71 Billion by 2040.

Global Digital Diabetes Management Market Trends:

Advancements in diabetes care device is a recent trend

With technologies such as AI, diabetes care devices can play a vital role in managing this chronic disease. For instance, smart insulin pens can transmit dosing data with Bluetooth Technology and allow programming of carbohydrate ratios and sensitivity factors, simplifying the management for clinicians. Technological advancements or technologies like these make it easier to manage people with diabetes more carefully and increase the demand or adoption of such devices worldwide. This trend is expected to continue during the forecast period.

Increasing awareness among people is another trend

Government initiatives to promote awareness about diabetes and user-friendly interfaces of insulin delivery devices are driving the demand for digital diabetes management devices in the homecare settings. Growing awareness about technologically advanced products is responsible for the higher adoption of these devices worldwide. Moreover, considerable rise in diabetes burden and several government awareness programs may propel the growth of the market. This trend is also expected to continue over the forecast period, driving the market growth.