North America Digital Diabetes Management Market to Cross USD 16.5 Billion by 2027

According to a recent study from market research firm Graphical Research, the North America digital diabetes management market size is poised to expand at substantial CAGR during the forecast period. Recent trends in the North America digital diabetes management industry are driven by escalating awareness regarding the self-medication of diabetes and surging adoption of user-friendly diabetes devices. Citing an instance, in August 2017, WellDoc and the American Diabetes Association announced the roll-out of Diabetes Digital Health Learning Network for helping diabetes patients in securing the next-generation skill in deploying digital diabetes management apps and other products.

Such initiatives are set to escalate product usage in homecare settings, fostering industry expansion over the forthcoming years. The North America digital diabetes management market had a valuation of more than USD 4,150.2 million in 2020 and is anticipated to exhibit a commendable CAGR of 18.6 per cent over 2021-2027.

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This growth is attributed to a persistent increase in technological collaborations coupled with the rising number of product launches by key digital diabetes management companies. Furthermore, increasing geriatric population and the presence of large number of obese people is slated to escalate the burden of diabetes in North America. As per the International Diabetes Federation, over 37 million people in the United States were living with impaired glucose tolerance.

The hospitals segment in the North America digital diabetes management industry held a dominating share of over 37 per cent in 2020. This is on account of long hospital stays and the escalating number of admissions in hospitals, given that patients diagnosed with diabetes have higher chances of hospitalization.

The North America digital diabetes management market size is stimulated by an increase in the number of type 1 patients and a subsequent rise in product usage. The type 1 diabetes segment is estimated to depict a remarkable CAGR of 17.9 per cent through 2027. Rising cost-effectiveness of various digital diabetes management platforms coupled with significant improvement in clinical outcomes are expected to push segment expansion over the years.

Prominent digital diabetes management companies include Tandem Diabetes, Abbott Laboratories, Ypsomed, Medtronic Plc, Companion Medical, Insulet Corporation, Dexcom, Inc., F.Hoffman-LA Roche Ltd., and Glooko, Inc., amongst others. These players are focusing on the adoption of various strategies for increasing their geographical footprint and the enhancement of product portfolio.

Considering an instance, in 2020, Eli Lilly and Company inked a partnership agreement with Dexcom for the promotion of Lilly’s new rapid-acting insulin with Dexcom G6 CGM system. The collaboration is poised to assist clinicians in the utilization of data for giving visibility to the benefit of new mealtime insulin.

The U.S. digital diabetes management industry accounted for an appreciable valuation of more than USD 3.0 billion in 2020. This growth is due to the surging adoption of smart devices and the increasing deployment of novel technologies such as big data analytics and artificial intelligence. The year 2019 recorded over 30.0 million people living with diabetes, states the International Diabetes Federation. The number is estimated to reach 36.0 million through 2045.

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On the whole, the rising access to digital diabetes management solutions on account of speedy FDA approval, favorable reimbursement, marketing approval, and interoperability will bolster North America digital diabetes management market trends.

Table of Contents (ToC) of the report:

Chapter 1   Methodology

1.1   Market definitions

1.2   Forecast assumptions

1.3   Data sources

1.3.1   Secondary

1.3.1.1   Paid sources

1.3.1.2   Unpaid sources

1.3.2   Primary

Chapter 2   Market Summary

2.1   North America digital diabetes management industry summary, 2016 – 2027

2.1.1   Country trends

2.1.2   Product type trends

2.1.3   Patient type trends

2.1.4   End-use trends

Chapter 3   Market Analysis

3.1   Industry segmentation

3.2   Industry outlook, 2016 – 2027 (USD Million)

3.3   Major factor analysis

3.3.1   Drivers

3.3.1.1   Growing diabetes populations base

3.3.1.2   Advent of artificial intelligence and big data in diabetes devices

3.3.1.3   Rising healthcare expenditure on diabetes

3.3.1.4   Growing awareness about technologically advanced products

3.3.1.5   Favorable reimbursement policies

3.3.1.6   Rising number of product launches

3.3.1.7   Increasing technological collaboration

3.3.2   Restraints & challenges

3.3.2.1   High cost of advanced devices

3.4   Analysis of COVID-19 impact on the industry

3.5   Porter’s analysis

3.6   Competitive review, 2020

3.7   PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1677/north-america-digital-diabetes-management-market

 

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

Contact Us:

Parikhit B.

Corporate Sales,

Graphical Research

Phone: 1-800-986-6917

Email: sales@graphicalresearch.com

Web: https://www.graphicalresearch.com

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