Digital Diabetes Management Market 2021 By Industry Trends & Regional Forecast To 2027

With about more than 463 million people currently living with diabetes worldwide, the management of this chronic disease has potentially increased over the past few years. Various pharmaceutical companies have been going all the way for developing and coming up with novel digital management solutions for diabetes, adding to an intrinsic treatment for one of the challenging diseases globally. To illustrate, the U.S based healthcare company - Teladoc Health has reportedly announced establishing partnership with Dexcom to offer its member an all new diabetes management service that creates reports and digital visualization of health information. 
Such instances are expected to propel the growth of digital diabetes management market, allowing it to grow at a CAGR of 18.8% over 2021 to 2027. It would be imperative to note that the global market had accounted for a business share of $13 billion in 2020, given the increasing popularity of these management solutions.
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It has been reported that diabetes management has now been simplified with the introduction of smart insulin pens. These pens boast the ability to record the amount of insulin dose and transmitting the data via connected Bluetooth devices. Moreover, innovative breakthrough in this realm has also allowed smart insulin pen makers to focus more upon creating a user-friendly interface for all the patients suffering from diabetes.
Recently, one of the leading healthcare companies- Medtronic- had introduced a CGM-integrated smart insulin pen for multiple daily injections. As per news reports, the company’s InPen stands to be the only smart insulin pen receiving an FDA nod for use by diabetic patient pool. In addition to this, the system also allows the users to view their live glucose readings along with their insulin dose data within a single application interface.
The mention of Medtronic has paved way for other healthcare companies to develop products and innovations in the business space, enabling the smart insulin pen segment to depict a growth rate of 22% through 2027.
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It is no surprise that the prevalence of Type 1 diabetes is gradually increasing almost every year enunciating the need for proper treatment and management solutions. In this case, digital diabetes management devices and solutions have come handy for all patients living with Type 1 diabetes.
It has been estimated that the Type 1 diabetes segment across the overall digital diabetes management market is set to exhibit gains of 18.3% over the foreseeable time frame. One of the fundamental reasons for this stellar growth is that this group is highly dependent on insulin and calls for constant monitoring for blood glucose levels.
Having seized a market valuation of $4.5 billion in 2020, home settings segment observed tremendous demand for digital diabetes management solutions owing to their umpteen benefits and increasing government initiatives to spread awareness about such management devices. Besides, expanding geriatric population and user-friendly interface of these technologically advanced digital diabetes devices are contributing majorly to the industry development. As per World Bank statistics, about 9.9% of the global population is aged above 65 years.
The digital diabetes management industry is highly diversified into vivid economies and regions including North America, Europe, Asia Pacific, and others. Of these, the growth predominantly comes for Asia Pacific region, courtesy: a subtle rise in elderly population base, rising healthcare initiatives by governmental organizations, and rising economic affluence. Estimates claim that the APAC digital diabetes management market is set to record gains of 19.5% through 2027.
On top of that, expanding R&D activities, and increasing penetration of various regional behemoths have now intrinsically contributed to the growth of digital diabetes management industry across Asia Pacific.
Partial Chapter of the Table of Content
Chapter 2   Executive Summary
2.1    Digital diabetes management market industry 3600 synopsis
2.1.1    Business trends
2.1.2    Product type trends
2.1.3    Patient type trends
2.1.4    End-use trends
2.1.5    Regional trends
Chapter 3   Digital Diabetes Management Market Industry Insights
3.1    Industry segmentation
3.2    Industry landscape, 2016 – 2027 (USD Million)
3.3    Industry impact forces
3.3.1    Growth drivers
3.3.1.1    Growing diabetes populations base
3.3.1.2    Advent of artificial intelligence and big data in diabetes devices
3.3.1.3    Rising healthcare expenditure on diabetes
3.3.1.4    Growing awareness about technologically advanced products
3.3.1.5    Favorable reimbursement policies
3.3.1.6    Rising number of product launches
3.3.1.7    Increasing technological collaboration
3.3.2    Industry pitfalls & challenges
3.3.2.1    High cost of advanced devices
3.4    Growth potential analysis
3.4.1    By product type
3.4.2    By patient type
3.4.3    By end-use
3.5    COVID-19 impact analysis
3.6    Regulatory landscape
3.6.1    U.S.
3.6.2    Europe
3.6.3    China
3.7    Reimbursement scenario
3.7.1    U.S.
3.8    Porter's analysis
3.9    Competitive landscape, 2020
3.10    PESTEL analysis
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