What is the key driver of Global Smart Diabetes Management Market?

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.

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

Q: What is the global market size of Smart Diabetes Management Market?

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).

Report ID: SQMIG35A2780 | Region: Global | Published Date: February, 2024
Pages: 219 | Tables: 92 | Figures: 70

Smart Diabetes Management Market News

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.

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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 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. '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)'

Increasing Diabetes Prevalence : One foremost key driver inside the clever diabetes control market is the growing incidence of diabetes global. As the 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.

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.

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