Digital Diabetes Management Market by Product
- Divya D
- Feb 14, 2019
- 2 min read
The global digital diabetes management market is projected to reach USD 19.9 billion by 2024 from USD 6.8 billion in 2019, at a CAGR of 23.8%. The growth of this market is mainly driven by the rising prevalence of diabetes, increasing focus on the development and adoption of digital platform for diabetes, and technological advancements.
The wearable devices segment is expected to account for the largest share of the digital diabetes management devices market in 2019
On the basis of device type, the wearable devices segment is expected to account for the largest share of the market in 2019. The large share of the market is mainly due to factors such as the increasing number of regulatory approvals for CGM systems; technological advancements such as closed-loop pump systems, smart insulin patches, and other pipeline devices; and the growing adoption of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management.
Recent Developments:
In 2018, Medtronic plc acquired Nutrino Health Ltd. (Israel). This acquisition strengthened Metronic’s CGM and industry-leading hybrid closed-loop systems portfolio in the digital diabetes management market.
In 2018, Roche Diagnostics signed a partnership with Wellthy Therapeutics Private Limited (India) that offers an artificial intelligence-based digital diabetes coaching solution for users of the Accu-Chek Active system.
In 2017, Medtronic launched the MiniMed 670G Insulin Pump SystemIn 2017, Dexcom opened a new head office in Canada to enhance customer experience and support Canadian diabetes patients.
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Know more in detail analysis of Digital Diabetes Management Market by Product (Device (Smart Glucometer, CGM, Insulin Pump & Patch), Diabetes Apps, Service, Data Management Software), Device Type (Hand-held & Wearables),End User (Hospitals & Self/home healthcare) - Global Forecast to 2024.
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