Diabetes Management Software Market

Diabetes Management Software Market Outlook (2022-2032)

Global demand for diabetes management software is anticipated to surge at a CAGR of 9.9% from 2022 to 2032. At present, the global diabetes management software market is valued at US$ 25.85 billion and is anticipated to reach a market valuation of US$ 66.26 billion by the end of 2032.

The comfort of use at home, the user-friendliness of modern digital equipment for diabetes diagnostics, and the ease of sharing data with specialists via digital platforms are major factors driving the demand for diabetes management software across self/home healthcare settings.

Report Attributes	Details
Diabetes Management Software Market Size (2022)	US$ 25.85 Billion
Projected Market Value (2032)	US$ 66.26 Billion
Global Market Growth Rate (2022-2032)	9.9% CAGR
Market Share of Top 3 Countries (2022)	45%
Key Companies Profiled	Glooko Tidepool LifeScan, Inc. Ascensia Diabetes Care Holdings AG Abbott Diabetes Care Acon Diabetes Care International BIONIME Custo med Dexcom

Revenue Analysis of Diabetes Management Software (2017-2021) Vs. Market Outlook (2022-2032)

“Rising Prevalence of Diabetes Stimulating Demand for Digital Diabetes Management Solutions”

According to Fact.MR, a market research and competitive intelligence provider, the global diabetes management software market is projected to rise at a CAGR of 9.9% from 2022 to 2032.

The market for diabetes management software is expected to gain momentum owing to rising cases of diabetes, technological developments, growing awareness over treatment procedures, digitalization, and increasing focus & spending on health and hygiene, etc.

Diabetes management software runs on personal computers, mobile phones, tablets, and other digital assistants to track, monitor, and manage the level of diabetes.

Demand for diabetes management devices is rising due to their accuracy and convenient results for users. Government support to the healthcare sector for using highly automated facilities and methods to offer quality treatment to patients is acting as a major factor driving the diabetes management app market growth.

Investment in the diabetes management software market is rising on account of its wide applications such as tracking blood sugar levels, insulin intake, diet observance, physical activities, conducting self-management tasks, etc.

Diabetes management software is a set of applications that can help patients and healthcare providers in tracking and monitoring diabetes. With numerous mobile and desktop applications, diabetes management software is gaining traction for diverse applications in the healthcare industry, thereby driving growth in the diabetes management software market.

How is Diabetes Management Software Market Expansion Being Driven?

“Rapid Integration of Technologically-Advanced Digital Diabetes Management Platforms”

Growing penetration of advanced technology in the healthcare sector has paved the way for numerous enhanced diabetes management software that is more efficient than the traditionally used fingertip pricks method to test blood glucose levels.

Advanced technology has brought a paradigm shift in the drug dispensing and disease monitoring space, with several healthcare centers leveraging diabetes management software to manage diabetes among patients. The predictive features of diabetes management software allow users to manage data associated with the prediction of future blood sugars and consumed carbohydrates easily.

Several products are available for analysis and maintenance of records of diabetic patients. Many diabetes management software is free. User-friendly mobile devices have increased the interest of elderly diabetic patients to use various mobile applications to monitor diabetes. The growing younger diabetic population is one of the most significant factors behind the unprecedented growth in the usage of diabetes management software.

The new generation is tech-savvy and prefers to use cloud-based enterprise solutions for diabetes management rather than visit physicians for monitoring blood sugar levels. Moreover, increasing per capita income is also expected to drive the demand for digital diabetes management solutions over the coming years.

What Can Hamper Demand Growth of Diabetes Management Software?

“High Prices of Software and Data Security Issues Restraining Market Demand”

The most important factor that is hindering the digital diabetes management market growth is the pricing associated with the product. Several mobile and desktop diabetes management software have paid diabetes & blood glucose tracking apps that are not affordable for every individual. If the medical staff including nurses and doctors are not well trained they cannot analyze accurate results about sugar glucose levels.

There are strong chances that this software can malfunction thus affecting the information and data of patients. Lack of awareness in developing regions about various diabetes management software can be witnessed which has resulted in low adoption of this software.

How are Start-ups Shaping the Diabetes Management Software Space?

“New Alliances & Product Advancements Offering Business Opportunities to New Market Players”

Start-ups are focusing on launching innovation-driven and convenience-ensuring variants to strengthen their product portfolio.

For instance :

• Technological development for the insulin delivery method is the insulin patch. The insulin patch pump is a product of F. Hoffmann-La Roche Ltd. It is a patch with reusable parts that are semi-disposable.
• For individuals with insulin-dependent diabetes, inGageIT Digital Health offers a product called iSenz. The dose is tracked and updated automatically. It has a monitoring system for non-invasive injections as well.

How is the Diabetes Management Software Market Progressing across Regions?

“Increasing Adoption of Digital Diabetes Management Solutions & Favorable Reimbursement Policies in North America & Europe”

North America accounts for 32.6% share of the global diabetes management software market. The robust healthcare industry with medical case management services in North America is expected to propel the demand for diabetes management software across the region.

Furthermore, the favorable reimbursement policies for patients suffering from chronic diseases such as diabetes, high blood pressure, and cardiovascular disorders are also expected to propel demand within the diabetes management market in North America.

With 28.6% market share, Europe is witnessing increased adoption of diabetes management software. The increasing geriatric population, unhealthy diet, and growing awareness among people about advanced technology are some of the reasons behind this growing rate of adoption.

Category-wise Insights

Which Diabetes Management Device is Most Used?

“Rising Need to Monitor Glucose Driving Demand for Wearable Devices”

Based on the device, the market is classified into wearable devices and handheld devices. Wearable devices account for the highest share of the global diabetes management software market.

Blood glucose testing devices, intelligent insulin pumps, and intelligent insulin patches are examples of wearable technology. The main drivers of the demand for wearable devices for diabetes care are the rising awareness of glucose monitoring and the rising number of regulatory approvals for smart devices.

Additionally, connected devices allow for dose control and recording, rapid access to periodic glucose measurements, and patient data uploading from home.

Competitive Landscape

Diabetes management companies are increasingly focusing on unique growth strategies, including acquisitions, collaborations, agreements, and partnerships to offer optimal patient experience.

For instance :

• In 2020, Dexcom Corporation collaborated with DreMed, a medical supplier of hospital equipment, to improve its facilities. This collaboration improved the market presence of Dexcom among users.
• In 2020, Abbott Corporation invested in freestyle libre2, a glucose meter. It is a device used for tracking glucose levels among diabetic patients and is applied on the back of the upper arm to check the glucose levels in the body. This latest technology helps in setting alarms for patients with too high or too low sugar levels.

Key Segments Covered in Diabetes Management Software Industry Research

• Diabetes Management Software Market by Device :

  • Wearable Devices
  • Handheld Devices

• Diabetes Management Software Market by Application :

  • Diabetes & Blood Glucose Tracking
  • Obesity & Diet Management

• Diabetes Management Software Market by End User :

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

• Diabetes Management Software Market by Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa