The global digital diabetes management market is projected to reach USD 35.8 Billion by 2028 from an estimated USD 18.9 Billion in 2023, at a CAGR of 13.6% during the forecast period. The growing number of people with diabetes has led to an increased focus on developing and adopting better diabetes care solutions. Advances in technology have made it possible to create more flexible and sophisticated solutions. The increasing use of cloud-based enterprise solutions and connected devices and apps are also driving market growth. However, high device costs, lack of reimbursement in developing countries, and the preference for traditional diabetes management devices are expected to slow market growth.
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The digital diabetes management market offers a wide range of devices, apps, data management software & platforms, and services. Smart glucose metres, continuous glucose monitoring (CGM) systems, smart insulin pens, smart insulin pumps/closed-loop systems, and smart insulin patches are included in the devices segment. Similarly, the digital diabetes management apps segment is further sub-segmented into diabetes & blood glucose tracking apps and obesity & diet management apps. In 2022, the devices segment held the largest market share for digital diabetes management, with 76.4%. Factors such as the increasing demand for wireless and wearable devices for diabetes management, growing acceptance of smart insulin pumps & pens for insulin delivery, and the growing awareness about continuous glucose monitoring in patients are driving the market growth.
Different types of digital diabetes management device studied in the report are handheld devices and wearable devices. Among these, the The market for digital diabetes management devices in 2022 was dominated by wearables, with a share of 60.3%. By 2028, this market is expected to have grown from USD 8,876.3 million in 2023 to USD 18,557.3 million. Technology advancements like closed-loop pump systems, smart insulin patches, and other pipeline devices, as well as factors like the growing use of smart insulin pumps and insulin patches for self-insulin delivery in diabetes management, are all the factors that are boosting the wearable devices segment’s growth..
Various end users of the digital diabetes management market are self/home healthcare, hospitals & specialty diabetes clinics, and academic & research institutes. The self/home healthcare accounted for the largest share of 79.9% of the digital diabetes management market in 2022. The large share of this segment can mainly be credited to technological advancements and a shift toward home care and self-management of diabetes.
North America is estimated to grow at the highest CAGR during the forecast period. The region also accounted for the largest market share of 45.3%, followed by Europe with a share of 28.1% in 2022. Various factors attributing to the growth of the digital diabetes management market in North America are growing adoption of connected diabetes management devices, high adoption of diabetes management apps, growing demand for integrated hybrid closed-loop systems, favorable reimbursement policies, and government initiatives to promote digital health in the region.
Furthermore, In Asia Pacific, countries such as China and India have a high prevalence rate of diabetes, primarily due to the increasing urbanization, population and lifestyle changes. The increasing incidence of diabetes, rising awareness, high undiagnosed population, and the rising penetration of smartphones and tablets have propelled the adoption of digital diabetes management solutions in the region.
The prominent players operating in the global digital diabetes management market are Medtronic (Ireland), B. Braun Melsungen AG (Germany), Dexcom, Inc. (US), Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), Insulet Corporation (US), Tandem Diabetes Care (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), One Drop (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Decide Clinical Software GmbH (Austria), Pendiq GmbH (Germany), and BeatO (India).
The global digital diabetes management market is experiencing meteoric growth, projected to soar from $18.9 billion in 2023 to a staggering $35.8 billion by 2028, at a compound annual growth rate (CAGR) of 13.6%. This burgeoning industry is driven by the ever-increasing prevalence of diabetes worldwide and the corresponding demand for innovative, technologically advanced solutions to manage this chronic condition effectively.
Spearheading this revolution are groundbreaking advancements in artificial intelligence (AI) and connected devices. AI algorithms are revolutionizing diabetes care, enabling predictive models for risk assessment, optimizing resource utilization, and enhancing glycemic control. Pioneers like Medtronic, Abbott, and Dexcom are at the forefront of this AI-powered transformation, introducing cutting-edge devices such as artificial pancreas systems, continuous glucose monitoring (CGM) systems, and smart insulin pumps.
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However, the high costs of these advanced devices and the lack of reimbursement policies in developing countries remain significant barriers to widespread adoption. With prices ranging from $4,500 to $6,500 for insulin pumps and $1,000 to $1,400 for CGM systems, these solutions remain out of reach for many patients, particularly in low-income regions.
Despite these challenges, the escalating global health expenditure due to diabetes presents a compelling opportunity for market growth. The International Diabetes Federation (IDF) estimates that diabetes-related health expenditure will reach a staggering $1.03 trillion by 2030, representing a substantial 11.5% of total global health spending.
The market landscape is dominated by prominent players like Medtronic, B. Braun Melsungen AG, Dexcom, Abbott Laboratories, F. Hoffmann-La Roche, Insulet Corporation, and Tandem Diabetes Care, among others. These companies are at the forefront of innovation, leveraging state-of-the-art technologies, diversified product portfolios, and robust global networks to drive market penetration.
Dexcom, Inc. (US)
In 2022, Dexcom was the market leader for digital diabetes management. With its flagship Dexcom products, the company dominated the market for continuous glucose monitoring systems. CGM systems like the Dexcom G7 and Integrated Continuous Glucose Monitoring (iCGM) System, Dexcom G6 Continuous Glucose Monitoring (CGM) System, Dexcom G5 Mobile CGM System, and Dexcom One are among the company’s product offerings. Company has 242 manufacturing and distribution facilities located all over the world. To increase its market share in digital diabetes management, Dexcom focuses on alliances, contracts, and acquisitions. Dexcom has partnered with a number of businesses in recent years to integrate its CGM system with additional insulin pumps. The company emphasises on growing its presence across the world, which gives it access to more resources for production and better customer service. For instance, the company established new offices in Scotland and Canada. The company also grew its footprint in additional regions, including Europe, Australia, the Middle East, and Africa.
Medtronic (Ireland)
The company’s broad product portfolio, which includes insulin pumps, smart glucose metres, CGM systems, mobile applications, data management software, and services, has been associated with its leading position in this market. The business is present throughout the world, including North America, Latin America, Europe, Africa, the Middle East, and Asia Pacific. MiniMed 780 Systems, MiniMed 670 Systems, Guardian Connect CGM Systems, CareLinkdiabetes Personal Software, and StartRight Programmes are all part of Medtronic’s digital portfolio for managing diabetes. The company emphasises on product launching, innovative products and establishing partnerships and alliances with other market participants in order to maintain its leading position in the market.
Abbott Laboratories (US)
In 2022, Abbott Laboratories held the third-position in the market for digital diabetes management. The company provides CGM systems, smart insulin pens, smart insulin pumps, smart insulin patches, and data management software. It also offers connected glucose metres. Abbott provides a range of digital CGM devices for managing diabetes and software platforms that are popular with end users all over the world under its flagship brand, freestyle libre. The geographic reach of Abbott Laboratories also extends to the Middle East, Africa, Asia, and North America. To keep up its market dominance, the company mainly focuses on product launches and alliances and collaborations. In October 2022, the company launched freestyle libre 3 CGM that has contributed significantly in its revenue.
Looking ahead, the smart insulin pen segment is poised for the highest growth, fueled by increasing demand for personalized and patient-centric devices, as well as the need to prevent needle-stick injuries. Additionally, the digital diabetes management apps segment is projected to experience rapid expansion, with diabetes and blood glucose tracking apps leading the charge.
As the digital diabetes management market continues its upward trajectory, it holds the promise of transforming diabetes care, empowering patients with cutting-edge solutions, and ultimately improving outcomes for millions of individuals affected by this chronic condition worldwide.