Digital Diabetes Global Market estimated to be worth $16,329.6 million by 2026

Digital diabetes includes products utilizing advanced technologies for monitoring, managing and tools that help in deciding optimum therapy options in the patients suffering from diabetes. These devices help in monitoring of blood sugar levels, calorie counting, and in insulin dose calculation, reduce complications to improve the quality of life of diabetics.

According to IQ4I analysis, digital diabetes global market is expected to reach $16,329.6 million by 2026. The factors such as global rise in the prevalence and incidence of diabetes, and technological advancement in digital diabetes devices are driving the market growth. The growing diffusion of smart devices and digital platforms and increasing R&D investments are providing opportunities for growth. Whereas, high cost associated with the products, increasing product recall and inadequate reimbursements are restraining the market growth. The threat for the digital diabetes market includes strict regulations from various regulatory organizations across geographies, safety issues and privacy concerns.

Digital diabetes global market is segmented based on products, end-users and region. Product category is segmented into devices, apps and software. As estimated by IQ4I Research, the devices segment accounted for the largest revenue in 2019 and projected to grow at mid single digit CAGR from 2019 to 2026 due to increasing incidence and prevalence of diabetes, growing adoption of smart devices.

In the digital diabetes end-user market, homecare segment accounted for the largest share in 2019 and this market is expected to grow at a high single digit CAGR from 2019 to 2026, this can be mainly attributed to technological advancements, shift towards self-management of diabetes, the improvement and acceptance of home care devices. In addition, growing focus of companies to increase awareness about diabetes and management devices & apps are further driving the adoption in home care settings.

Among various geographic market segments, North America region commanded the largest revenue in 2019 growing at a mid single CAGR from 2019 to 2026. Increased awareness of the benefits of using continuous glucose monitoring systems, growing diffusion of smart devices, and high incidences of obesity as well as diabetes are driving the market. However, Asia-Pacific region is expected to grow at double digit CAGR from 2019 to 2026 due to increasing patient awareness, increasing prevalence of diabetes cases due to unhealthy lifestyle, poor diet, excess alcohol consumption and increase in penetration of digital platform.

Approvals, agreements and acquisitions are driving the digital diabetes market growth. For instance, in October 2019, Dexcom, inc. received FDA approval for Dexcom G6 Pro a CGM system meant for healthcare specialists to assess the suitability for CGM therapy, ages two years and up. It is the first and only single use, professional CGM that gathers real-time glucose data over a 10 day period and offers both a blinded and unblinded mode. Similarly, In October 2019 LifeScan entered into collaboration with Willis Towers Watson to expand the adoption of OneTouch Reveal plus, the digital diabetes therapeutic powered by Welldoc’s award winning BlueStar Platform.

Considering the attractiveness of digital diabetes market, several venture capitalists are aggressively investing in developing devices, apps and digital programs. According to IQ4I analysis, funding received by digital diabetes companies during the period 2018-2019 was worth $XX million. The funding is utilized to help pregnant woman at risk of developing Type 2 diabetes and expansion of digital care programs and expansion of biosensor patch for CGM and also to develop hybrid closed loop automated insulin delivery app. For example in September 2019, Liva Healthcare received $XX million funding from EU Horizon to help pregnant woman at risk of Type 2 diabetes. Digital diabetes clinical trials data indicate globally, XX% are in phase 2 and XX% are in phase 3. Majority of clinical trials are focused on developing smart insulin pump and artificial pancreas such as hybrid closed loop devices.

Major players in the digital diabetes global market are Abbott Laboratories (U.S.), Dexcom, Inc. (U.S.), Insulet Corporation (U.S.), i-Sens, Inc. (South Korea), Livongo Health, Inc. (U.S.), Medtronic PLC (Ireland), F.Hoffmann-LA Roche AG (Switzerland), Senseonics Holdings, Inc. (U.S.), Tandem Diabetes Care (U.S.), and Ypsomed Holding AG (Switzerland).

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