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 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 the 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 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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