A recent report published by Infinium Global Research on artificial intelligence in diabetes management market provides in-depth analysis of segments and sub-segments in the global as well as regional artificial intelligence in diabetes management market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional artificial intelligence in diabetes management market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global artificial intelligence in diabetes management market. According to the report, the global artificial intelligence in diabetes management market is projected to grow at a CAGR of 47.55% over the forecast period of 2018-2024.
Diabetes is a major pervasive chronic
disorder that impacts a large number of the global population. It is a global
epidemic and the most expensive disease. Insulin-dependent (type 1) diabetes is
managed by monitoring the blood glucose level with finger prick blood tests
performed many times throughout the day and insulin levels are adjusted based
on these readings. This invasive method is painful, inconvenient,
time-consuming, and not good enough for managing a dynamic and complex disease
condition such as diabetes. Various non-invasive methods of blood glucose
measurement and insulin delivery are still in the development stage. Glucose measurement devices are now capable of
continuously monitoring blood glucose levels throughout the day.
The data-intensive nature of diabetes
care and management makes it an ideal fit for applying artificial intelligence
and machine learning to improve outcomes and find better solutions. Different applications of artificial intelligence (AI) and
cognitive computing offer promise in diabetes care. Artificial intelligence
methods in combination with the latest technologies, such as medical devices,
mobile computing, and sensor technologies, have great potential to provide
better services to deal with chronic diseases. Artificial intelligence, in healthcare, uses algorithms and software to
approximate human cognition in the analysis
of complex medical data. Artificial intelligence is being used for a wide range of healthcare and research
applications, including detection of disease, management of chronic conditions,
delivery of health services, and drug discovery.
There
is a large number of global population suffering from diabetes and the number is growing rapidly. This is the major factor driving
the global artificial intelligence in diabetes management market. Additionally,
high penetration of internet and well-developed
internet infrastructure in developed countries, increasing government spending
on healthcare and new programs undertaken by the governments regarding
awareness about chronic diseases is anticipated to drive the global artificial
intelligence in diabetes management market. Furthermore, the patient-centric approach of healthcare and increasing
utilization of smart monitoring devices to track health record of the patient are some of the factors which are
likely to propel the market.
However,
the cost of the devices is a major factor responsible for hampering the growth
of global artificial intelligence in diabetes management market.
Furthermore, government stringent regulation regarding healthcare, lack of
awareness, patient’s privacy, and security concerns, lack of curated datasets
and less digital savvy patients are some of the other restraining factors that
would affect the market negatively. Rising elderly population, increasing
obesity, favorable demographics, urbanization,
rising healthcare costs, and increasing
digital affinity are some of the factors acting as opportunities for global artificial intelligence in diabetes management
market.
North America, Europe,
Asia-Pacific and RoW are the
geographical regions for the global artificial intelligence in diabetes
management market. North American region is dominating in the global artificial
intelligence diabetes management market which attributes to the better internet
infrastructure, development of latest and advanced technologies and growing
government spending on healthcare in this region. The Asia-Pacific region is
expected to grow with a higher rate. Increasing investment in
healthcare infrastructure in the emerging economies like China, India and South
Korea will contribute to the growth of the market in the Asia-Pacific region. Additionally, huge patient
pool suffering from diabetes in this region will add to the demand for
artificial intelligence diabetes management.
The report on global artificial intelligence in diabetes management market covers segments such as device. On the basis of the device, the sub-markets include insulin delivery devices, diagnostic devices, and glucose monitoring devices.
The report provides profiles of the companies in the market such as Apple Inc., Google Inc, Vodafone Group Plc, Diabnext, IBM Corporation, Tidepool, and Glooko Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of artificial intelligence in diabetes management market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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