Digital diabetes management products provide non-invasive monitoring and control of diabetes through digital health tools like glucose monitors, insulin pumps and apps. They help manage blood glucose levels more efficiently through continuous monitoring, tracking of food & activity and analysis of patterns.
The global Digital Diabetes Management Market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of diabetes across the globe is one of the key factors driving the growth of the digital diabetes management market. As per International Diabetes Federation estimates, around 537 million adults were living with diabetes in 2021 worldwide and the number is projected to rise to 643 million by 2030 and 783 million by 2045. The growing diabetic population is generating a high demand for digital self-monitoring tools that improve diabetes control and management on a regular basis. Furthermore, increasing adoption of digital health tools and remote monitoring services amid COVID-19 pandemic has also accelerated the growth of digital diabetes management market over the forecast period.
Segment Analysis
The global digital diabetes management market can be segmented based on product type, end user and distribution channel. Among product types, the glucose monitoring devices segment dominates the market. With continuous glucose monitoring devices, patients can monitor their blood glucose levels without multiple finger pricks, giving valuable insights into fluctuations throughout the day. This helps patients and doctors optimize treatment plans for better management.
Key Takeaways
The Global Digital Diabetes Management Market Scope is expected to witness high over the forecast period. The global Digital Diabetes Management Market is estimated to be valued at US$ 9.31 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
North America region currently dominates the market due to factors such increasing prevalence of diabetes and growing adoption of advanced digital solutions for managing diabetes. However, the Asia Pacific region is expected to be the fastest growing market in the coming years due to growing awareness and improving healthcare infrastructure in emerging countries.
Key players operating in the digital diabetes management market are The Kraft Heinz Company, McCormick & Company Inc., Sempio Food Company, Delmaine Foods, Edward & Sons Trading Co., Cajun Powder Sauce, General Mills Inc., and Bull-Dog Sauce Co. Ltd. The Kraft Heinz Company dominates the market with its wide distribution network and strong brand presence. McCormick & Company Inc. also has a sizable market share due to its product innovation and strategic acquisitions.
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