Diabetes Wearables Market 2022
The global Diabetes Wearables Market is expected to grow at a stupendous rate In Upcoming Years. Today calls for prediction tools that are powered by AI to optimize the usage of the resources available. This could also help in crisis management. As such, key market participants are likely to invest in predictive analytics for condoning unforeseen circumstances. These would be preventive steps taken by the enterprises on the whole.
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Diabetes Wearable devices are electronic devices that record and store the health data of patients to manage their symptoms or support them with their daily routines. The focus on fitness and healthy lifestyles have provided this wearables a broad industry to explore. Diabetes is one of the major causes of death across the world.
According to The International Diabetes Federation, in 2019, Approximately 463 million adults (20-79 years) were surviving with diabetes and it is projected to increase to 700 million by 2045. Diabetes caused at least 10% of total health expenditure i.e. 760 billion dollars in 2019.
Patients with diabetes need to regularly monitor their blood sugar or blood glucose levels to prevent the disease from causing more damage. Traditionally, the glucose level is demonstrated by users pricking their fingers several times a day with lancing devices to get a drop of blood that can be tested with a glucose meter.
Wearable diabetes devices are currently available in the market to ease this process for diabetics. Wearable diabetes devices such as Continuous glucose monitors (CGM) and insulin pumps help to measure glucose levels from fluid beneath the skin.
Insulin pumps and Continuous glucose monitors (CGM) can make it easier and much more efficient for a person with diabetes to manage their blood glucose levels. The readings from CGMs are useful for the diabetic to take advice for what course of action to take, or in the case of emergencies, they can be sent immediately to physicians.
What are the Key Trends Impacting Growth of the Global Diabetes wearables market?
The Diabetes wearables market is growing with emerging markets and government organizations, developing to introduce innovations in the field of wearable devices. The growing focus in research & development activities is another trending factor actively adopted by the leading manufacturers and researchers.
There are a lot of trends that have led to the increased popularity of diabetes wearable devices, however, one of the furthermost important is that wearable technology could help progress a patient’s eminence of life by facilitating continuous monitoring of blood glucose levels.
Both patients and healthcare providers are driving the growing trend toward wearable diabetes devices. New technologies and the rapid adoption of them are also enabling the boom in the diabetes wearables market.
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Key Segments of the global Diabetes wearables market Covered in the Report
Based on Product type, the global Diabetes wearables market has been segmented as
Stick-Free Glucose Testing
Noninvasive Glucose Monitoring
Closed-Loop Systems
Smart Pens
Based on Grade Type, the global Diabetes wearables market has been segmented as
Consumer-grade
Clinical-grade
Based on application, the global Diabetes wearables market has been segmented as
Remote Patient Monitoring
General Health & Fitness
Home Healthcare
Based on the distribution channel, the global Diabetes wearables market has been segmented as
Hospital pharmacies
Retail pharmacies
Online pharmacies
Based on the region, the global Diabetes wearables market has been segmented as
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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Competitive Landscape
Key players such as Medtronic, Hoffmann-La Roche AG, Dexcom Inc., Senseonics, Sano Intelligence, GraphWear technologies, PKvitality, Pops Diabetes, PHC Holdings, LifeScan, Ascensia Diabetes Care, Abbott Laboratories, Tandem Diabetes Care and others involved in the Diabetes wearables market.
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