Smart Diabetes Management Market Size Worth 19.80 Billion with … – GlobeNewswire

January 05, 2023 07:30 ET | Source: Data Bridge Market Research Data Bridge Market Research
Pune, INDIA
HOUSTON, Jan. 05, 2023 (GLOBE NEWSWIRE) — A Qualitative Research Study accomplished by Data Bridge Market researches titled “Smart Diabetes Management Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. This Smart Diabetes Management market research report is a valuable source of information with which businesses can gain a telescopic view of the current market trends, consumer demands, and preferences, market situations, opportunities, and market status. Businesses can achieve complete know-how of general market conditions and tendencies with the information and data covered in this Smart Diabetes Management report. This report systematically collects information about influencing factors for the industry which includes customer behavior, emerging trends, product usage, and brand positioning. Various steps are used while generating this report by taking inputs from a specialized team of researchers, analysts, and forecasters.
The report encompasses various segments related to the Smart Diabetes Management industry and market with thorough research and analysis. All the data, statistics, and information is backed up by well-established analysis tools which include the SWOT analysis and Porter’s Five Forces analysis. The data and information of the Smart Diabetes Management report not only help businesses make data-driven decisions but also guarantee maximum return on investment (ROI). The report covers several market dynamics and also estimates the growth rate and the market value based on market dynamics and growth-inducing factors.
Data Bridge Market Research analyses that the smart diabetes management market which is USD 6.47 billion in 2022, is expected to reach USD 19.80 billion by 2030, at a CAGR of 15% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Diabetes is a chronic disease that requires careful management of medication, diet, and exercise. With the help of smartphone technology, information and communication technology now provides various facilities to patients and medical specialists to manage various diseases in an efficient manner.
According to the International Diabetics Federation (IDF), 578 million adults will have diabetes by 2030, rising to 700 million by 2045. The number of diabetic patients is increasing, which can be attributed to various environmental, genetic, demographic, and socioeconomic factors. Obesity, an unhealthy diet, alcohol consumption, tobacco use, a decrease in physical activity, and other factors are among the causes. These causes are aided by increased urbanization and a changing lifestyle that includes consuming higher-calorie and processed foods. As a result, the increasing prevalence of diabetes, combined with technological advancements in the healthcare industry, has created a need to develop and adopt smarter equipment to treat the disease.
Recent Developments
Fundamental Aim of Smart Diabetes Management Market Report
In the Smart Diabetes Management market, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
Some of the major players operating in the smart diabetes management market are:
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The investment made in the study would provide you access to information such as:
Opportunities for Key Players:
Leading players in the smart diabetes management market rely on acquisitions and collaborations to establish a global presence. These alliances primarily aim to expand reach in regional markets and gain technological strength to provide better diabetes care solutions. For instance, in January 2018, GlucoMe integrated with the Apollo Sugar Clinic in India, allowing it to expand its product portfolio and customer reach in India. Similarly, it entered into a collaboration with Merck KGaA to strengthen its digital diabetes care solutions and expand its consumer base. Companies are also forming alliances with leading pharmaceutical companies to develop and supply advanced diabetes care technologies and products.
Key Market Segments Covered in Smart Diabetes Management Industry Research
By Devices
By Devices Type
By Application
 Diabetes Type
By End Use
Key Growth Drivers:
People’s awareness and literacy about the use of technology, smartphones, wearable devices, and applications is also increasing due to their ease of use and convenience. Products such as Continuous Glucose Monitoring Systems (CGM) provide continuous monitoring of glucose levels, which is stored and transmitted to a doctor or healthcare professional, allowing for a better analysis of the health condition and providing alerts in case the glucose levels drop too low or rise too high, allowing for an immediate action that could save a life. Smart Insulin Pumps inject insulin into the body in response to glucose level data provided by CGM; such benefits can be lifesaving and significantly help in reducing the side effects of diabetes. These elements propel market expansion.
With the subsequent increase in product approval rates, companies are focusing their efforts on launching new diabetes management products, whether devices or apps. The deployment of this strategy is also due to a rise in consumer preference for innovative and simple-to-use products. Accu-Chek Guide, a blood glucose monitoring system, was introduced in August 2016 by F. Hoffmann-La Roche Ltd. Furthermore, in June 2017, Medtronic introduced the MiniMed 670G system for the treatment of type 1 diabetes. These launches were followed by a slew of new products that not only simplified diabetes management for patients and clinicians, but also improved results accuracy.
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Smart Diabetes Management Market Regional Analysis/Insights:
The countries covered in the smart diabetes management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart diabetes management market due to the high prevalence of diabetic population and lucrative reimbursement policies.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the focus of various established market players to expand their presence in this particular region.
This Market Intelligence Report Analyses Some of the Most Crucial Concerns:
Table of Contents:
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