Published Date: 2021-03-05
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North American Digital Diabetes Management Market size is projected to cross USD 16.5 billion by 2027, according to a latest forecast report by Graphical Research.
Continuous technological advancements and rising adoption of advanced connected devices are propelling the market growth. Technological advancements have improved the efficiency, and outcome, expanded customer and clinical access, and enhanced patient experience in diabetes space. The introduction of connected devices has further improved clinical outcome significantly in both type 1 and type 2 diabetes patients, thereby influencing customer experience and device adoption.
Increasing number of product launches and continuous technological collaboration will boost the market demand. Presence of large number of obese people and growing geriatric population pool will increase the burden of diabetes in the region. According to the International Diabetes Federation, there were more than 37 million people in the U.S. living with impaired glucose tolerance.
In devices segment, smart insulin pumps segment accounted for about 30% digital diabetes management market share. Increasing number of product launches coupled with rising adoption of smart insulin pumps are propelling the market growth. For instance, in January 2020, Tandem Diabetes launched new version of insulin pump in U.S. It is an advanced hybrid closed-loop system designed to increase time range.
Type 2 diabetes segment is set to observe 18.7% growth rate between 2021 and 2027. Presence of large type 2 patients and increasing awareness about self-medication are augmenting the segment growth. Moreover, digital diabetes devices provide customized solutions for type 2 patients.
Browse detailed statistical insights from the report, “North America Digital Diabetes Management Market Size, By End-use (Hospitals, Home Settings, Diagnostic Centers & Clinics), By Product Type (Devices {Smart Glucose Meters, CGM, Insulin Pumps & Patches, Insulin Pens}, By Device Type [Wearable, Handheld], Services {Diabetes Apps, Software}), By Patient Type (Type 1, Type 2), Research Report, Country Outlook (U.S., Canada), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @
Hospitals segment dominated with the market with more than 37% share in 2020. Increasing number of hospital admissions coupled with long hospital stays are increasing the usage of digital diabetes devices in hospitals. In addition, patients suffering from diabetes have higher chance of hospitalization, thereby creating demand for diabetes management in hospitals.
Canada digital diabetes management market is anticipated to register a growth rate of 19% till 2027. The key drivers of the market are growth in research and development in the field of digital diabetes and innovative product launches. For instance, in February 2019, Dexcom received Health Canada approval for its G6 CGM. The device is an advanced CGM system for people with diabetes, aged more than two years. Also, improving healthcare infrastructure will further increase product awareness and adoption in future.
Key players in the market include Abbott Laboratories, Medtronic Plc, Insulet Corporation, F.Hoffmann-LA Roche Ltd., Dexcom, Inc., Companion Medical, Ypsomed, Tandem Diabetes, and Glooko, Inc, among several others.
The players in the industry are continuously innovating their products and are involved in strategic collaboration to maintain the share. For instance, in 2020, Eli Lilly and Company, and Dexcom announced the partnership to promote Lilly’s new rapid-acting insulin, with Dexcom G6 CGM system. The partnership will help clinicians in using data to give visibility to benefit of new mealtime insulin.
North American digital diabetes management market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
North America Market, By Product Type, 2016-2027 (USD Million)
By device
By devices type
North America Market, By Patient Type, 2016-2027 (USD Million)
North America Market, By End-use, 2016 – 2027 (USD Million)
The above information is provided for the following countries:
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