Global artificial intelligence in diabetes management market was estimated to be US$ 218.70 million in 2018 and is expected to reach US$ 3874.52 million by 2030, growing at a CAGR of 37.7% over the forecast period (2021 to 2030). Growing number of Type 2 diabetes population owing to sedentary lifestyle and obesity epidemic aids the growth of the overall industry. Desk-bound jobs mainly overwhelms the body’s internal glucose control leading to requirement of exogenous insulin. Thus, optimal care for people suffering from diabetes is often hampered by absence of real time decision making and not able to make informed choices associated with intensive therapy and tight diabetes control. Therefore, technology advancements leading to real time diabetes care information and rapid expansion of medical knowledge helps patients to track their time and expenses in a better manner. The need for solution that primarily enable a person to optimize their meals and physical activities, based on one’s choice can be a huge change for diabetes patients. Artificial Intelligence in diabetes management algorithm basically delivers such simplified, personalized feedback to individuals making their life easier with less complications.
Market participants include Diabnext, DreaMed Diabetes, Ltd., GlucoMe, Hedia, medicsen, Medtronic, Sweetch, TypeZero Technologies, Inc., XBIRD among others.
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The report provides both, qualitative and quantitative research of global artificial intelligence in diabetes management market, as well as provides worthy insights into the rational scenario and favored development methods adopted by key contenders. The report also offers extensive research on the key players in global artificial intelligence in diabetes management market and detailed insights on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes the headquarter, competitors, product/service type, application and specification, pricing, and gross margin.
In the recent past, AI has been applied to glucose prediction and retinopathy decisions, amongst others. The introduction of artificial pancreas, a hybrid closed-loop system in 2016 duly approved by the FDA is a device that automatically controls blood glucose levels through a subcutaneous sensor and an external insulin pump. Company participant such as Tandem and Medtronic have successfully marketed their products MiniMed 670G/Guardian Sensor 3 and Basal-IQ respectively that automates basal insulin delivery and also helps in correcting boluses for high blood sugars. Artificial intelligence in diabetes management market is expected to exhibit potential improved outcomes. The introduction of insulin pen coupled with new sensors for physiological monitoring sensors based on genotypic and phenotypic will lead to selections of effective tailored therapies, bringing transformation in the health care industry. However, decision making processes based on quantitative factors and not on qualitative metrics may create fallacy, critically impacting the global industry demand. However, big data along with artificial intelligence will be useful tools in diabetes application, thus shifting the overall process from automation to digitization.
Global Artificial Intelligence in Diabetes Management Market:
By Techniques
- Cased Based Reasoning
- Machine Learning & Deep Learning
- Artificial Neural Network
- Others
By Application
- Automated Retinal Screening
- Clinical Decision Support
- Predictive Population Risk Stratification
- Patient Self-Management Tools
- Others
By Device
- Glucose Monitoring Devices
- Diagnostic Devices
- Insulin Delivery Devices
- Others
By End User
- Hospitals and Clinics
- Diabetes Management Centers
- Research Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Norway
- Sweden
- The Benelux Union
- Belgium
- the Netherlands
- Luxemburg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- New Zealand
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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