(I-BusinessNews.Com, January 15, 2020 ) Diabetes is attaining epidemic proportions and digital health companies are fighting back with innovative solutions. Approximately, one in 11 adults across the globe has diabetes attributing to 425 million people, worldwide. The number if further increasing rapidly. Thus, rising number of diabetic patients across the globe and increasing demand for better ways to manage the disease is expected to drive the adoption of innovative diabetes devices, software, and apps by the patients in the coming years, thereby driving the growth of the digital diabetes market
Increasing penetration of smartphones and technological advancements in diabetes devices are further aiding better diabetes monitoring in home care. Technological advancements are expected to bring innovative devices into the market further assisting the growth of the digital diabetes care devices market over the coming years. However, high cost of devices and poor reimbursement scenario are some of the challenges restricting the adoption of advanced devices, specifically in the emerging market. This is restraining the market growth to a certain extent. Meticulous ResearchÂ® in its latest publication on Digital Diabetes Market states that the global digital diabetes market will increase at a CAGR of 21.7% from 2019 to 2025 to reach $12.03 Billion by 2025.
To provide efficient analysis, Meticulous ResearchÂ® has segmented this market on the basis of Product (SMBG, CGM, Smart Insulin Pump, Smart Insulin Pens, Software, Apps), End User (Home Care, Hospitals and Clinics), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Geographically, North America commanded the largest share of the digital diabetes market and Asia Pacific expected to register the fastest growth during forecast period. Several factors, such as high pool of diabetic patients, increasing healthcare expenditure, and growing focus of key players towards this region are expected to propel the growth of this market. Increasing disposable income and growing awareness on diabetes and associated diseases are further expected to drive the growth of this regional segment.
While in terms of type of devices, CGM systems accounted for the largest share of digital diabetes devices market in 2018. Increasing adoption of CGM systems, development of advanced CGM systems, and favorable government policies in developed countries promoting adoption of CGM systems are the key factors contributing to the largest share and highest growth of this segment.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, geographical presence, and market share analysis on some of the key players in this market including Lifescan, Roche, Medtronic, Ascensia Diabetes Care, Tandem Diabetes Care, Dexcomm, SocialDiabetes, One Drop, H2 Inc., Dottli Oy, Abbott Laboratories, Ypsomed holding AG, ARKRAY Inc., and Insulet Corporation among many others.
TOP 10 COMPANIES IN DIGITAL DIABETES DEVICES MARKET
Key questions answered in the report:
Smart glucose meters dominated the digital diabetes market
Which factors contribute to better acceptance of smart glucose meters as compared to other diabetes management devices?
Which geographic segment is expected to register highest growth in the smart glucose meters market and other product segments?
What are the factors driving greater demand for digital diabetes management products and services?
North America favors both regional and local manufacturers that compete in multiple segments
Who are the top market players and what strategies they adopt to gain majority of the market share?
What strategies should emerging/ developing companies adopt to enter/compete effectively in this market?
What strategies local players have adopted to compete with the global market leaders?
What are the major drivers, restraints, and opportunities in the digital diabetes market?
Who are the major players in various countries and what share of the market do they hold?
What are the geographical trends and high growth regions/ countries?
Recent strategic developments taken place in the digital diabetes market
What technological advancements have taken place in this industry?
Which companies are recently merged/acquired by prominent players in this market and how will these unions affect the competitive landscape of the digital diabetes market?
Who are the major players in the global digital diabetes market and what shares of the market do they hold?
What are the local emerging players in this market and how do they compete with the global players?
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