Fact.MR, a global research firm, in its recent study on the diabetes management software market anticipated that the market will register a robust CAGR in 2021.
Fact.MR, a global research firm, in its recent study on the diabetes management software market anticipated that the market will register a robust CAGR in 2021. This robust growth is majorly ascribed to increasing advancement in technology and innovations in the backdrop. Ease of availability of smartphones apps for disease management has amplified in the recent past and there are various apps accessible on web-based app stores which could assist patients to monitor their blood glucose levels.
“Leading market players in the diabetes management software industry are increasingly focusing on launching convenience-ensuring and innovation-driven variants to fortify their product portfolio.” states Fact.MR.
Technological Progressions Continues to Propel Diabetes Management Software
Technological progressions is encouraging the demand for diabetes management software. A number of products are accessible for maintenance and analysis of records of diabetic patients. Several diabetes management software are free. Moreover, user friendly mobile devices have boosted the confidence of elderly diabetic patients to utilize several mobile applications to monitor diabetes.
Increasing younger diabetic population is one of the most noteworthy aspect behind the unprecedented development in the use of diabetes management software. Also, new generation is tech savvy and prefer to use diabetes management software instead of visiting physicians for monitoring blood sugar levels
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Continuous blood glucose monitoring systems Demand Slated to Increase
Continuous blood glucose monitoring systems are projected to gain traction due to their compatibility with smart devices as well as they serve as a display device. They could also be slated to send customised alerts to patients when certain glucose thresholds are touched.
On the other hand, smart insulin pen are witnessing increased adoption mainly due to growing number of product launches in the area of digital healthcare and introduction of AI. Several companies are focusing on innovating smart insulin pen to remain at the forefront of the competition.
The US Diabetes Management Software will Remain Lucrative
The U.S. is anticipated to develop at the most noteworthy CAGR in 2021 & beyond. This is primarily due to innovation in AI-based services and increasing penetration of smart consumer devices. The UK is accounted for recording fastest growth pace as a result of increasing number of research institutes to develop new devices.
China, India, and Germany are anticipated to foresee exponential growth in the coming years due to a large diabetes population base and new product launches. These regions are also foreseeing several product launches.
Introducing Advanced Products & Adopting New Technologies Remains Key Focus Areas: Fact.MR Survey
Diabetes management software market is competitive and comprises of several key players. Fact.MR’s survey with thought leaders revealed that introducing advanced products and adopting new technologies will remain a prominent strategy for market players in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are Dexcom, Medtronic, Roche Diagnostics, Ascensia Diabetes Care, Abbott Laboratories, Insulet Corporation, AgaMatrix, LifeScan, Glooko Inc., and Tidepool. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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Source: Fact.MR