Pune, India, March 10, 2022 (GLOBE NEWSWIRE) -- The rising demand for wearable devices is expected to contribute business opportunities for the market, states Fortune Business Insights, in a report, titled Digital Diabetes Management Market Size, Share & Industry Analysis, By Device Type (Hand Held, Wearable), By Product (Smart Glucose Meter, Continuous Glucose Monitoring Systems, Smart Insulin Pens, Smart Insulin Pumps, Others), By End User (Hospitals, Home Healthcare, Others) and Regional Forecast, 2019-2026. The rising cases of diabetes are likely to foster healthy growth of the Digital Diabetes Management Market in the forthcoming years.
Key Development:
February 2020: DreaMed Diabetes Ltd and DexCom Inc., signed into a partnership agreement to transfer DexCom's continuous glucose monitoring (CGM) into DreaMed advisor. This platform will assist healthcare professionals to optimize patient-specific therapy.
September 2019: Medtronic and Novo Nordisk A/S signed an agreement to provide a digital solution for people with diabetes. The collaboration will develop solutions to integrate data from Novo Nordisk insulin pump and Medtronic’s continuous monitoring system.
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Digital Diabetes Management Market Growth Drivers:
The growing incidence of diabetes is expected to fuel demand for digital diabetes management, in turn aiding the market. According to the World Health Organization (WHO), an estimated 422 million people all over the globe have diabetes.
- Introduction of Technologically Advanced Systems to Propel Market Growth
- Extensive Distribution Network, Strong Portfolio, and Stout Brand Presence to Boost the Market
- Rapid Shift towards Latest Technology in Developed and Emerging Countries
- Launch of Innovative and Advanced Products is Propelling the Growth of the Market
- Clinical Efficiency of New Products to Boost its Adoption during 2021-2028
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Favorable Reimbursement Policies to Aid Growth in North America
Geographically, the global digital diabetes management market is segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is expected to lead the market owing to the growing adoption of digital platforms to monitor diabetes.
The favorable reimbursement policies and government initiatives for digital health are expected to create opportunities for the market. Europe is expected to witness substantial growth during the forecast period due to the emergence of start-ups in the region. With the increasing prevalence of diabetes in emerging countries such as India, China, it is expected to spur opportunities for the market in Asia Pacific.
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Digital Diabetes Management Market Segmentation:
By Device Type
- Hand Held
- Wearable
By Product
- Smart Glucose Meter
- Continuous Glucose Monitoring Systems
- Smart Insulin Pens
- Smart Insulin Pumps
- Others
By End User
- Hospitals
- Home Healthcare
- Others
By Geography
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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The Report Lists the Leading Companies in the Digital Diabetes Management Market
- Care Innovations, LLC
- GlucoMe
- Medtronic
- Novo Nordisk A/S
- F. Hoffmann-La Roche Ltd
- Dexcom, Inc.
- Abbott.
- Insulet Corporation
- Bayer AG
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