Asia Pacific digital diabetes management market is anticipated to observe a notable CAGR of 19.5% through 2027. In addition, increasing R&D activities for developing advanced digital diabetes devices is expected to foster the product adoption over time. Besides, growing geriatric population, increasing disposable income, and rising government initiatives pertaining with healthcare in the region are also supporting the business space.
As patients with type 1 diabetes are highly dependent on insulin and need consistent monitoring of blood glucose levels, there has been a significant rise in the adoption of digital diabetes solutions among this patient base. Besides, rising prevalence of type 1 diabetes will also fuel the product adoption further over the coming years. Taking these factors into consideration, type 1 diabetes segment across the overall digital diabetes management market is projected to register a substantial CAGR of 18.3% through 2027.
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Considering the increasing patient inclination towards digital diabetes management solutions, several industry players are focusing on developing sophisticated solutions to effectively meet the increasing consumer demand. For instance, in 2018, Roche collaborated with Wellthy Therapeutics, a digital health company for providing the consumers with an advanced digital diabetes management platform based on artificial intelligence which combines its Accu-Chek Active blood glucose meter with Wellthy Therapeutics’ Wellthy Care App. Apparently, this strategic move was claimed to strengthen the company’s product portfolio and allow it to gain a strong market presence.
In terms of product type, smart insulin pens are gaining immense popularity owing to the advantages associated with them. Smart pens record the amount of each insulin dose and transmit the data through connected Bluetooth devices. Moreover, manufacturers of smart insulin pens are focusing on developing technologically advanced product such as user-friendly interface for diabetes patients which is expected to enhance the outlook of smart insulin pen segment over following years. According to the report, the segment is anticipated to register a lucrative CAGR of 22.0% CAGR through 2027.
Based on patient-type bifurcation, Type 1 diabetes segment is projected to record a notable CAGR of 18.3% through 2027 as patients with type 1 diabetes depend highly on insulin and need constant monitoring of blood glucose levels. As a result, demand for smart devices amongst type 1 diabetes patients is relatively higher. Besides, rising prevalence of type 1 diabetes patients across the globe will fuel the demand for digital diabetes devices further.
Major industry players operating in digital diabetes management market such as Medtronic Plc, Abbott Laboratories, F.Hoffmann-LA Roche Ltd, Tandem Diabetes, Dexcom, Inc., Insulet Corporation, Glooko, Inc, etc. are adopting various business strategies such as merger, acquisitions, new product development to strengthen their market presence. For instance, in 2020, Tandem Diabetes Care announced the U.S. launch of t: slim x2 insulin pump with an aim to strengthen the company’s presence in the U.S. market.
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Partial Chapter of the Table of Content
Chapter 5 Digital Diabetes Management Market, By Patient Type
5.1 Key segment trends
5.2 Type 1
5.2.1 Market size, by region, 2016 – 2027 (USD Million)
5.3 Type 2
5.3.1 Market size, by region, 2016 – 2027 (USD Million)
Chapter 6 Digital Diabetes Management Market, By End-use
6.1 Key segment trends
6.2.1 Market size, by region, 2016 – 2027 (USD Million)
6.3 Home settings
6.3.1 Digital Diabetes Management Market size, by region, 2016 – 2027 (USD Million)
6.4 Diagnostic centers & clinics
6.4.1 Market size, by region, 2016 – 2027 (USD Million)
6.5.1 Market size, by region, 2016 – 2027 (USD Million)
Charts & Figures
FIG. 1 Industry segmentation
FIG. 2 Global digital diabetes management market size, 2016 – 2027 (USD Million)
FIG. 3 Growth potential analysis, by product
FIG. 4 Growth potential analysis, by device type
FIG. 5 Growth potential analysis, by end-use
FIG. 6 Porter’s analysis
FIG. 7 PESTEL analysis
FIG. 8 Digital Diabetes Management Market Key segment trends, by product type
FIG. 9 Key segment trends, by patient type
FIG. 10 Key segment trends, by end-use
FIG. 11 Key regional trends
FIG. 12 Competitive dashboard, 2020
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