Diabetes Digital Therapeutics Market Research Report Segmentation By Device Type (Handheld Devices, Wearable Devices); Product and Services (Devices, Applications, Data Management Software and Platforms, Services); End-User (Self/Home Healthcare, Hospitals and Specialty Diabetes Clinics, Academic and Research Institutes); Region Size, Share, Growth Analysis | Forecast (2024 2030)

Diabetes Digital Therapeutics Market Outlook (2024 – 2030)

According to the research findings, the global market for Diabetes Digital Therapeutics was valued at USD 16.32 Billion and is anticipated to attain a market size of USD 38.04 Billion by the conclusion of 2030. The market is forecasted to exhibit a Compound Annual Growth Rate (CAGR) of 12.85% during the projection period from 2024 to 2030. The escalating prevalence of diabetes has intensified the emphasis on developing and embracing enhanced solutions for diabetes care. Additionally, technological advancements, the widespread adoption of cloud-based enterprise solutions, and the increased utilization of connected devices and applications are pivotal factors propelling the industry's growth.

Digital Therapeutics Market for Diabetes: Industry Overview

Providers of Digital Therapeutics (DTx) furnish patients with evidence-based therapeutic interventions delivered through sophisticated software programs designed to prevent, manage, or treat medical disorders. In the context of diabetes, DTx providers offer digital programs for diabetes prevention and tools to manage chronic diabetes.

Given the global diabetes epidemic, digital health companies are responding with innovative solutions. Approximately 1 in 11 adults worldwide has diabetes, totaling 425 million individuals. The digital diabetes market is expanding in tandem with the rising number of diabetes cases. The market for digital diabetes treatment has witnessed substantial growth in recent years. If current trends persist, projections indicate that by 2045, either 693 million people by 1899 or 629 million people by 2079 will be affected by diabetes. Diabetes incurs global medical costs of USD 727 billion, equivalent to one-eighth of total medical expenditures.

As the worldwide diabetic population grows and the demand for improved treatment methods increases, the adoption of innovative diabetes devices, software, and applications is expected to rise in the coming years, thereby fostering the growth of the digital diabetes market. Digital diabetes management systems aid patients in enhancing self-management and controlling their condition, addressing the significant challenge of maintaining low blood sugar levels in diabetes treatment.

Digital diabetes devices encompass monitoring hardware, mobile software, and big data cloud computing infrastructure. A notable example is the Smart Glucose Monitor, a wireless glucose meter facilitating blood glucose measurements transmitted to iOS or Android mobile devices.

Impact of COVID-19 on Diabetes Digital Therapeutics Market

In an optimistic scenario, the COVID-19 pandemic is anticipated to have a prolonged positive impact on the overall digital diabetes management market. Although the initial phase of the pandemic adversely affected the market due to closures and restrictions, the gradual recovery is evident, particularly in North America and Europe. Factors such as increased digitalization and healthcare infrastructure expansion are expected to contribute to market growth from 2021 onwards. In a realistic scenario, the long-term impact of the pandemic on the digital diabetes management market is considered neutral, with gradual growth anticipated from Q3 2020 and a return to pre-COVID conditions expected by Q1 2021.

Market Drivers:

The surge in diabetes cases over the past decade is a primary driver of market growth.

Diabetes is projected to become the seventh leading cause of death by 2030, with factors like stress, lack of exercise, unhealthy diets, and obesity contributing to its prevalence. The growing elderly population, coupled with increased exposure to key risk factors, is expected to drive demand for digital diabetes management solutions in key markets.

Technological advancements in mobile software within the medical device industry are also propelling market growth.

Sensor-based Continuous Glucose Monitoring (CGM) technology, implantable digital diabetes management devices, closed-loop systems, and wearable smartphone-based devices have significantly improved diabetes care, providing patients with more flexible and effective management options.

Market Restraints:

The lack of awareness regarding devices and the high cost of applications pose challenges to market growth. The initial cost and ongoing expenses related to consumables hinder access to advanced devices, especially in developing countries where financial constraints are prevalent. Disparities in reimbursement policies between developed and developing countries further limit the adoption of digital diabetes management solutions, as end-users in developing nations bear the full cost of necessary devices and maintenance.

Diabetes Digital Therapeutics Market - By Device Type:

• Handheld Devices
• Wearable Devices

In terms of Device Type, the segmentation of the digital diabetes management device market includes both handheld and wearable devices. Wearable devices dominate the market share, accounting for 60.3% in 2021. This category encompasses CGM systems, smart insulin pumps, and smart insulin patches. The increasing regulatory approvals for CGM systems, advancements in technology such as closed-loop pumping systems, smart insulin patches, and other tubing devices contribute to the growing demand for wearables in diabetes management. Moreover, connected devices offer real-time access to blood glucose readings, enabling dose management, logging, and online data upload for patients at home.

Diabetes Digital Therapeutics Market – By Product and Services:

• Devices
• Applications
• Data Management Software and Platforms
• Services

Regarding Products and Services, the digital diabetes management market includes devices, applications, software and data management platforms, and services. The Continuous Glucose Monitoring (CGM) systems segment is projected to exhibit the highest CAGR during the forecast period. The device segment encompasses smart blood glucose meters, CGM systems, smart insulin pens, closed-loop systems, and smart insulin patches. The applications segment is further divided into diabetes and blood glucose monitoring apps, as well as obesity and diet management apps. The growth of CGM systems is attributed to their minimally invasive nature compared to traditional blood glucose meters.

Diabetes Digital Therapeutics Market - By End-User:

• Self/Home Healthcare
• Hospitals and Specialty Diabetes Clinics
• Academic and Research Institutes

In terms of End-User, the primary users of digital diabetes management include self/home healthcare, hospitals and specialty diabetes clinics, and academic and research institutes. The self/home healthcare segment is anticipated to experience the highest CAGR of 13.2% during the forecast period. Advances in digital diabetes management systems and user-friendly home care platforms contribute to this growth. The demand for non-invasive or minimally invasive systems in home care has increased with the introduction of CGM systems, insulin pump therapy, applications, and services.

Diabetes Digital Therapeutics Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, North America leads with the largest market share at 41.4%, followed by Europe at 29.0%. The United States accounts for 91.8% of the North American digital diabetes management market in 2021. Factors driving this dominance include the increasing prevalence of diabetes, technological advancements in digital diabetes management solutions, a high number of smartphone users, widespread adoption of cloud-based enterprise solutions, and a focus on improving patient care quality. Asia-Pacific is expected to witness the fastest growth, driven by factors like high diabetes prevalence, increased healthcare spending, and the focus of key players in the region.

Diabetes Digital Therapeutics Market Share by Company:

1. Medtronic (Ireland)
2. B. Braun Melsungen AG (Germany)
3. Dexcom, Inc. (US)
4. Abbott Laboratories (US)
5. F. Hoffmann-La Roche (Switzerland)
6. Insulet Corporation (US)
7. Tandem Diabetes Care (US)
8. Ascensia Diabetes Care Holdings AG (Switzerland)
9. LifeScan, Inc. (US)
10. Tidepool (US)
11. AgaMatrix (US)
12. Glooko, Inc. (US)
13. DarioHealth Corporation (Israel)
14. One Drop (US)
15. Dottli (Finland)
16. Ypsomed Holding AG (Switzerland)
17. ARKRAY (Japan)
18. ACON Laboratories, Inc. (US)
19. Care Innovations, LLC (US)
20. Health2Sync (Taiwan)
21. Emperra GmbH E-Health Technologies (Germany)
22. Azumio (US)
23. Decide Clinical Software GmbH (Austria)
24. Pendiq GmbH (Germany)
25. BeatO (India)

Glooko's universal diabetes software products offer insights to enhance outcomes for individuals with diabetes and their care teams. The system synchronizes data from over 190 diabetes devices and activity monitors, providing integrated, timely, and valuable patient information, including blood glucose levels, blood pressure, weight, food intake, insulin, and medication.

One Drop, a consumer digital health company, has developed comprehensive digital health solutions.

Omada Health, a digital behavioral medicine company, assists individuals in changing habits that pose risks for preventable chronic diseases like heart disease and type 2 diabetes. The company delivers behavioral counseling services online, utilizing information from social networks, gaming, behavioral science, and more.

Suppliers invest in research and development to create technologically advanced systems, gaining a competitive edge and contributing to industry economic benefits. The industry anticipates several mergers and acquisitions in the coming years, as companies proactively seek market share and diversify their product portfolios.

RECENT NOTABLE EVENTS IN THE DIABETES DIGITAL THERAPEUTICS MARKET:

Product Introduction - In April 2022, Dexcom introduced the Dexcom ONE device, unveiling the Dexcom ONE Continuous Glucose Monitoring System in the United Kingdom.

Strategic Collaboration - In April 2020, DreaMed Diabetes Ltd and DexCom Inc. entered into a collaborative agreement to integrate DexCom's continuous glucose monitoring (CGM) technology into DreaMed's advisor. This platform is designed to support healthcare professionals in optimizing patient-specific therapy.

Innovative Product Launch - In early 2020, Roche Diagnostics (Switzerland) launched a novel remote patient monitoring solution as part of the RocheDiabetes Care Platform. This innovative solution incorporates a pattern detection feature to enhance its functionality.