Artificial Intelligence in Diabetes Management Market Size, Share, Growth & Analysis, 2028

Artificial Intelligence in Diabetes Management Industry Perspective:

The global artificial intelligence in diabetes management market was at a market value of $93 million in 2021 and is projected to reach over $600 million by 2028 The global market is expected to register a CAGR of 33% during the forecast period. The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global artificial intelligence in the diabetes management market. The competitive and geographical landscape is well elaborated in the report.

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Artificial Intelligence in Diabetes Management Market: Overview

Artificial intelligence and machine learning have incredibly expanded the potential in the field of diabetes care. The AI-based management techniques in the field of diabetes mellitus are transforming rapidly with a goal to lower the prevalence of cases associated with diabetes 1 and 2. However, the application of artificial intelligence-based technology, particularly in self-managing diabetes, is crucial for enhancing the quality of life, boosting metabolic control, and for timely intervention for the patient population. Additionally, data-driven decisions help better manage diabetes.

COVID-19 Impact:

The outbreak of the Covid-19 pandemic has created a public health emergency that affected almost every sector globally. The pandemic has posed long-term effects on the global artificial intelligence in the diabetes management market as the government all across the globe announced worldwide lockdowns. The global market has witnessed a mixed impact of the Covid-19 pandemic. There was a significant spike in demand for artificial intelligence-based diabetes management because private healthcare was disrupted as a result of increasing covid cases.

On the other hand, supply chain logistics were disrupted due to the ban on transportation and movement, which has left a negative impact on the global market. However, the post-pandemic landscape is likely to foster development opportunities in the global market in the forthcoming years.

Artificial Intelligence in Diabetes Management Market: Growth Drivers

Growing diabetes cases will drive the growth of the global market

The growing cases of diabetes all around the globe is one of the primary reasons fueling the growth of global artificial intelligence in the diabetes management market. However, such an increasing rate of diabetes can be attributed to the sedentary lifestyle of people and rapid urbanization globally. Additionally, the growing funding from private and government organizations is fueling the research and development activities to develop advanced solutions in diabetes management will further boost the growth rate.

Artificial intelligent applications have vast clinical potential in preventing diabetes and educating people regarding their lifestyle. It also guides users regarding their exercise regime, dietary habits, and insulin injection schedules. The growing morbidity and mortality cases in several regions due to diabetes are fostering the large-scale adoption of artificial intelligence in diabetes management.

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Artificial Intelligence in Diabetes Management Market: Restraints

Lack of awareness among people is likely to restrain the growth of the global market.

Consumers are not aware of the innovative solutions available in the market for managing diabetes effectively. Additionally, many diabetes patients do not prefer monitoring their diabetes frequently, which is also likely to hamper the growth of the market.

Artificial Intelligence in Diabetes Management Market: Opportunities

Advancements in the field of artificial intelligence are likely to create new avenues in the global market.

The ongoing innovation and development activities in the field of artificial intelligence are likely to create new lucrative growth opportunities in the global artificial intelligence in the diabetes management market. Also, the integration of advanced technology with healthcare facilities will further expand the potential of the global market.

Artificial Intelligence in Diabetes Management Market: Challenges

Need for high investment is a huge challenge in the global market.

Research activities and clinical trials require high investments, which limits the scope of the global market. On the other hand, the end products are also expensive. Therefore, not many consumers are willing to go with smart solutions for diabetes management.

Artificial Intelligence in Diabetes Management Market: Segmentation

The global artificial intelligence in the diabetes management market can be segmented into technique, device, and region.

By technique, the market can be segmented into intelligent data analysis and case-based reasoning.

By device, the market can be segmented into insulin delivery devices, glucose monitoring devices, and diagnostic devices. Glucose monitoring devices accounted for the largest market share in terms of revenue in the year 2021. This growth is attributed to the increasing demand for medical devices due to low cost and better affordability.

Artificial Intelligence in Diabetes Management Market: Report Scope

Recent Developments

• Medtronic, in November 2020, introduced CGM integrated smart insulin pen in the market. The company said that the launch of the product could be integrated with Guardian Connect CGM Data.
• Tandem Diabetes Care Inc, in January 2020, introduced slim X2 – the new version of T. It can effectively be integrated with Dexcom G6 CGM. Also, it is the first device that can deliver automatic correction boluses, which in turn will proliferate the firm’s portfolio.

Artificial Intelligence in Diabetes Management Market: Regional Landscape

North America holds the largest share of the global market.

North America accounts for the largest share of the global artificial intelligence in the diabetes management market due to the ongoing innovations in artificial intelligence-based services. Also, the growing awareness among consumers regarding the availability of smart devices for managing diabetes will further contribute to the growth of the regional market.

However, the region is in the next stage of digitalization, and therefore, concepts like robotics, machine learning, big data, artificial intelligence, and the Internet of Things are expanding rapidly in different fields. Prominent market players are launching innovative products in the market to expand the market base, which is likely to further develop the regional market.

Asia Pacific to emerge as the fastest-growing region in the global market.

Asia Pacific is likely to grow significantly in the forthcoming years due to the presence of a large diabetes population base in the region.

Artificial Intelligence in Diabetes Management Market: Competitive Landscape

Some of the significant players in the global artificial intelligence in the diabetes management market include-

• Vodafone Group Plc
• Tidepool
• IBM Corporation
• Google Inc.
• Glooko Inc.
• Diabnext
• Apple Inc.

The global artificial intelligence in the diabetes management market is segmented as follows:

By Technique

• Intelligent Data Analysis
• Case-Based Reasoning

By Device

• Insulin Delivery Devices
• Glucose Monitoring Devices
• Diagnostic Devices

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa