USD 11.15 billion
Smart Diabetes Management Market Size, Share, Growth Analysis, By Devices(Smart Glucose Meters, Continuous Glucose Monitoring Systems, Smart Insulin Pens, Smart Insulin Pumps), By Usability(Prefilled, Reusable), By Distribution Channel(Hospital Pharmacies, Online Sales, Retail Pharmacies, and Diabetes Clinics / Centers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2780 |
Region:
Global |
Published Date: February, 2024
Pages:
219
|Tables:
92
|Figures:
70
Smart Diabetes Management Market Insights
Global Smart Diabetes Management Market Size was valued at USD 11.15 billion in 2021 and is poised to grow from USD 12.04 billion in 2022 to USD 22.29 billion by 2030, growing at a CAGR of 8.0% in the forecast period (2023-2030).
The smart diabetes management market has witnessed substantial growth in recent years due to advancements in healthcare technology and an increasing focus on personalized healthcare solutions. This market's growth can be attributed to rising awareness about diabetes management, a growing diabetic population globally, and the demand for innovative tools and devices that simplify diabetes monitoring and treatment.
Manufacturers and healthcare providers are continually developing smart devices, wearable technologies, and mobile applications to enhance the quality of life for individuals with diabetes, promoting better disease management and reducing complications.
Moreover, the integration of artificial intelligence and data analytics into these solutions offers promising opportunities for more effective and personalized diabetes care. As the world continues to prioritize health and wellness, the smart diabetes management market is expected to maintain its upward trajectory, offering innovative solutions to a growing demographic of individuals living with diabetes.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Hospital Pharmacies
Fastest Growth
Hospital Pharmacies
Growth Rate
8.0% CAGR
Global Smart diabetes management market ($ Bn)
Country Share for NORTH AMERICA Region (%)
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Smart Diabetes Management Market Segmental Analysis
The global smart diabetes management market is segmented on the basis of product, usability, distribution channel and region. Based on product the market is segmented as Smart Insulin Pens, Adaptors for Conventional Pens, Disposable, Reusable. On the basis of usability the market is segmented as Prefilled, Reusable. Based on distribution channel, it is segregated into Hospital Pharmacies, Online Sales, Retail Pharmacies, Diabetes Clinics / Centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Product
Smart insulin pens are currently dominating the diabetes management market. These devices offer precise dosage control and real-time data tracking, making them highly sought after by individuals with diabetes and healthcare professionals. Their user-friendly features and compatibility with mobile apps for data management have contributed to their widespread adoption.
However, Disposable insulin pens are experiencing the fastest growth in the market. Their convenience, affordability, and ease of use appeal to a broad range of diabetes patients. Disposable pens eliminate the need for cartridge replacements and reduce the risk of contamination, making them a preferred choice among newly diagnosed diabetics and those seeking a hassle-free solution.
Analysis by Distribution Channel
Hospital Pharmacies currently dominate the smart diabetes management market distribution channel. This dominance is primarily due to the importance of healthcare professionals' involvement in diabetes management, as hospitals serve as central hubs for comprehensive patient care. Patients often receive initial diagnoses and guidance on diabetes management through these facilities, leading to a significant share of sales occurring through hospital pharmacies.
Moreover, Online Sales have emerged as the fastest-growing distribution channel in the smart diabetes management market. This growth is driven by the convenience and accessibility of purchasing diabetes management devices and supplies online. Patients and caregivers increasingly prefer the ease of ordering products from the comfort of their homes, and e-commerce platforms offer a wide range of options, competitive pricing, and the convenience of doorstep delivery.
Global Smart diabetes management market by Distribution channel
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Smart Diabetes Management Market Regional Insights
North America stands as the dominating region in the smart diabetes management market. This can be attributed to its advanced healthcare infrastructure, higher adoption of healthcare technology, and a significant diabetic population. The region is also home to several key players in the industry, contributing to its dominance.
However, the Asia Pacific is the quickest-growing vicinity within the clever diabetes management market. Factors driving this growth include the rising prevalence of diabetes in international locations like India and China, increasing cognizance approximately diabetes management, and a developing middle-class populace with more get admission to to healthcare era. Additionally, authorities projects to enhance healthcare and virtual fitness adoption are fostering fast marketplace enlargement within the Asia Pacific area.
Global Smart diabetes management market by Geography
- Largest
- Fastest
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Smart Diabetes Management Market Dynamics
Drivers
Technological Advancements
Innovations in wearable devices, cellphone programs, and information analytics gear are empowering individuals with diabetes to screen and control their condition extra efficiently. These technological advances now not only enhance the user experience but also offer healthcare companies with treasured statistics for greater customized care and remedy changes.
Restraints
Cost of Implementation and Accessibility
High initial expenses associated with clever diabetes control gadgets and services can restriction get admission to for individuals with lower incomes or in regions with insufficient healthcare infrastructure. This accessibility barrier poses a project in ensuring that these advanced technologies attain all segments of the population, hindering significant adoption.
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Smart Diabetes Management Market Competitive Landscape
The aggressive panorama of the smart diabetes management market is characterised by means of extreme contention among severa companies vying for marketplace proportion. These agencies are constantly making an investment in studies and improvement to introduce progressive services and products that cater to the evolving desires of individuals with diabetes.Partnerships and collaborations with healthcare institutions, as well as data-driven approaches, are increasingly prevalent strategies. Moreover, regulatory compliance and adherence to data security standards play a crucial role in gaining consumer trust. The market's dynamism is driving continuous advancements and a focus on user-centric solutions to gain a competitive edge in this rapidly expanding sector.
Top Player’s Company Profiles
- Medtronic (Ireland)
- Novo Nordisk A/S (Denmark)
- Pendiq (Germany)
- Sanofi (France)
- Berlin-Chemie AG (Germany)
- Bigfoot Biomedical Inc (US)
- Digital Medics Pty Ltd (Australia)
- Eli Lilly and Company (US)
- Dexcom (US)
- Abbott Laboratories (US)
- Roche Diabetes Care (Switzerland)
- Ascensia Diabetes Care (Switzerland)
- Tandem Diabetes Care (US)
- Insulet Corporation (US)
Recent Developments
- In February 2023, Dexcom launched Dexcom G7 CM tool inside the US and is planning to launch in Europe and Asia Pacific by way of first region of 2024
- In October 2022, Abbott laboratories launched Freestyle Libre 3 CM devices worldwide.
- In April 2022, Dexcom launched the Dexcom ONE device. The business enterprise launched the brand new Dexcom ONE Continuous Glucose Monitoring System inside the UK.
- In April 2022, Ascensia Diabetes Care Holdings AG (Switzerland) launched Eversense's 6-month CGM machine within the US.
- In March 2022, Novo Nordisk introduced the Novo Pen 6 and NovoPen Echo Plus, clever connected insulin pens which might be currently available within the UK on prescription for those with diabetes who use Novo Nordisk insulin. These new clever insulin pens, the Novo Pen 6 and NovoPen Echo Plus, document every injection's insulin dosage automatically.
- In October 2021, LifeScan, Inc. (US) released OneTouch Solutions. This is a holistic virtual fitness supplying linking human beings with diabetes to solutions and assist from confirmed specialists.
Smart Diabetes Management Key Market Trends
- Increasing Diabetes Prevalence : One foremost key driver inside the clever diabetes control market is the growing incidence of diabetes global. As the global population ages and lifestyles become more sedentary, the incidence of diabetes continues to rise. This growing patient pool creates a significant demand for innovative solutions that enhance diabetes monitoring and management, driving the development and adoption of smart diabetes management technologies and services.
Smart Diabetes Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global smart diabetes management market analysis, the market has witnessed remarkable growth in recent years, fueled by a confluence of technological advancements and an escalating global prevalence of diabetes.
Innovations in wearable devices, mobile applications, and data analytics have revolutionized how individuals manage their condition, offering real-time monitoring and personalized insights. North America, with its robust healthcare infrastructure, has emerged as the dominant region, closely followed by a rapidly expanding Asia Pacific market driven by a rising diabetic population.
However, accessibility and cost remain significant challenges, particularly in developing regions. As key players continue to invest in research and development, the market is poised for sustained growth, with an emphasis on user-centric solutions and data-driven healthcare.
Looking ahead, the smart diabetes management market is poised for even greater transformation. The integration of artificial intelligence and machine learning promises to further enhance predictive capabilities and personalized treatment plans. Wearable technologies are expected to become more sophisticated, seamlessly integrating with everyday life.
Moreover, telemedicine and remote patient monitoring are likely to play an increasingly pivotal role, offering convenience and improved healthcare outcomes. As healthcare systems globally place greater emphasis on preventive care and chronic disease management, the smart diabetes management market is poised to be at the forefront of this paradigm shift, contributing to better quality of life for individuals living with diabetes.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 11.15 billion |
| Market size value in 2030 | USD 22.29 billion |
| Growth Rate | 8.0% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Diabetes Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Diabetes Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Diabetes Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Diabetes Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Diabetes Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Diabetes Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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