World News: 12:50 GMT Monday 11th February 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The digital diabetes management market is projected to reach USD 19,989.7 million by 2024 from an estimated USD 6,877.1 million in 2019, at a CAGR of 23.8% during the forecast period.
The rising prevalence of diabetes has increased the focus on the development and adoption of better solutions for diabetes care. Also, advancements in technologies have ensured the introduction of highly flexible solutions in the market. These are the major factors driving the growth of the global digital diabetes management market.
The increasing adoption of cloud-based enterprise solutions and the growing use of connected devices and apps are some of the other major factors supporting market growth. However, factors such as the high device costs, lack of reimbursement in developing countries, and the higher acceptance of traditional diabetes management devices are expected to restrain the growth of this market during the forecast period.North America accounted for the largest share of 39.8% of the global digital diabetes management market. This regional segment is also estimated to grow at the highest CAGR of 26.7% during the forecast period. This can primarily be attributed to the high adoption of connected diabetes management devices and apps, growing demand for closed loop systems, high adoption of remote online coaching services for diabetes management, favorable reimbursement policies, and government initiatives to promote digital health in the region.The digital diabetes management market is a fragmented and competitive market with a large number of players. Partnerships, collaborations, and agreements were the key growth strategies adopted by major players to expand their presence in this market.
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Related Topics: Diabetes Devices
Globe Newswire: 12:50 GMT Monday 11th February 2019
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