Mednow Launches New Virtual Diabetes Management Program in Partnership With Dexcom

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Diabetes imposes a heavy economic burden on both the global healthcare system and wider global economy. According to WHO, the global cost is estimated to be 825 billion US dollars per year, and is mostly driven by the costs of diabetes complications. Yet, so far, there is still an unmet need for research into the health of people living with diabetes to improve their quality of life & disease management, and prevent them from developing diabetes-related complications and premature mortality. Furthermore, digital medicine, digital research and artificial intelligence (AI) have the power to transform the field of diabetes with continuous and no-burden remote monitoring of patients’ symptoms, physiological data, behaviors and environmental contexts through the use of wearable’s, sensors and smartphone technologies. In addition, digital technologies and electronic healthcare, represent a major opportunity to rethink diabetes, as they are expected to have a major impact on all aspects of diabetes, from prevention to research, including diabetes care and management.

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DIGITAL DIABETES MANAGEMENT MARKET OUTLOOK

The global digital diabetes management market is driven by key factors such as increasing prevalence of diabetes, increasing penetration of digital platforms and advancement in technology. However, high cost of devices and lack of reimbursement in developing countries is one of the factor hampering the market growth.

DIGITAL DIABETES MANAGEMENT MARKET SEGMENTAL OVERVIEW

The digital diabetes management market is segmented by product & service, device type, end user and geography

DIGITAL DIABETES MANAGEMENT MARKET BY PRODUCT & SERVICE

The products & services in this report are devices, digital diabetes management apps, data management software and platforms and services. The devices segments is further bifurcated into smart glucose meters, continuous glucose monitoring systems, smart insulin pens and smart insulin pumps & smart insulin patches. Furthermore, digital diabetes management apps are classified into diabetes & blood glucose tracking apps and weight & diet management apps. The growing demand for wireless and wearable devices for diabetes management, growing acceptance of smart insulin pumps & pens for insulin delivery, technological innovations in devices are the key factors driving the devices segment globally.

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DIGITAL DIABETES MANAGEMENT MARKET BY DEVICE TYPE

Based on type, the digital diabetes management market is segmented into wearable devices and handheld devices. The increasing number of regulatory approvals for CGM systems, technological advancements such as closed-loop pump systems, smart insulin patches, and other pipeline devices are attributing the growth of wearable devices segment globally.

DIGITAL DIABETES MANAGEMENT MARKET BY END USER

The various end user studied in this report are self/home healthcare, hospitals & specialty diabetes clinics and academic & research institutes. The self/home healthcare segment dominated the market in 2018, due to the move toward home care & self-management of diabetes and advancement in technology.

DIGITAL DIABETES MANAGEMENT MARKET BY GEOGRAPHY

On the basis of geography, the digital diabetes management market is segmented into North America, Europe, Asia-Pacific and Rest of the world.  North America region dominated the digital diabetes management market in 2018 due to advancement in technology solutions, high adoption of remote online coaching services for diabetes management and favorable reimbursement policies.

DIGITAL DIABETES MANAGEMENT MARKET KEY PLAYERS

Some of the major players operating in the digital diabetes management market includes Medtronic PLC, F. Hoffmann-La Roche, Dexcom, Inc., Ascensia Diabetes Care Holdings Ag., Abbott Laboratories, B. Braun Melsungen AG, Tidepool, Glooko, Inc., Lifescan, Inc. (A Subsidiary of Johnson & Johnson), Agamatrix, Inc., Tandem Diabetes Care, Inc., Insulet Corporation and Dariohealth Corporation. Leading companies have invested massive capital in research & development and mergers & acquisitions activities to develop innovative products in the market.

DIGITAL DIABETES MANAGEMENT MARKET DEVELOPMENTS

November 2018: Medtronic plc acquired Nutrino Health Ltd. (Israel). This acquisition strengthened Metronic’s CGM and industry-leading hybrid closed-loop systems portfolio in the digital diabetes management market.

November 2018: Roche announced its partnership with the digital therapeutic company Wellthy Therapeutics to offer users of the Accu-Chek Active system, a clinically validated artificial intelligence-based digital diabetes coaching solution.

June 2018: Medtronic plc, the global leader in medical technology, announced the launch of the MiniMed(TM) 670G Performance Guarantee Program - an outcomes-based offering for payers and employers designed to mitigate costs for diabetes-related complications.

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