Dexcom, Inc. (US) and Medtronic (Ireland) are Leading Players in the Digital Diabetes Management Market
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 demand for better diabetes care solutions has become more important as diabetes prevalence has increased. Additionally, technological developments have made it possible for the market to receive solutions that are incredibly flexible. Other significant drivers of market growth include an increasing number of connected devices and apps use as well as the growing adoption of cloud-based enterprise solutions. However, during the forecast period, growth in this market is anticipated to be restricted by aspects like high device costs, a lack of reimbursement in developing nations, and a higher acceptance of conventional diabetes management devices.
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), ARKRAY (Japan), ACON Laboratories, Inc. (US), Care Innovations, LLC (US), Health2Sync (Taiwan), Tandem Diabetes Care (US), Dottli (Finland), Ypsomed Holding AG (Switzerland), Emperra GmbH E-Health Technologies (Germany), Azumio (US), Ascensia Diabetes Care Holdings AG (Switzerland), LifeScan, Inc. (US), Tidepool (US), AgaMatrix (US), Glooko, Inc. (US), DarioHealth Corporation (Israel), Pendiq GmbH (Germany), One Drop (US), Decide Clinical Software GmbH (Austria), and BeatO (India).
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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.
Related Reports:
Digital Diabetes Management Market by Product (Device (CGM, Smart Glucometer, Insulin Patch Pump), Diabetes Apps, Service, Software & Platforms), Device Type (Handheld & Wearables), End User (Hospitals & Self/Home Healthcare) - Global Forecast to 2028
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