Canada Digital Health in Diabetes Market Analysis and Forecast
$2,350.00 – $4,700.00
Type: Service area
Published : May 2021
Region: North America
Report ID : 4238
Format: PPT, PDF
Canada Digital Health in Diabetes Market: Segmented by Product and Services (Devices, Digital Diabetes Management Apps, Data Management Software and Platforms, Services), By Type (Wearable Devices, Handheld Devices), and By End-User (Home Care Settings, Diabetes Clinics, Academic and Research Institutes, Others) – Growth, Trends, and Forecast (2019 – 2028)
The Canada digital diabetes management market size stood at USD XX Billion in 2019 and is projected to reach USD xx Billion by the year 2025, exhibiting a CAGR of xx during the forecast period.
More than 11 million Canadians live with diabetes or prediabetes, making up 29% of the country’s population. Diabetes currently accounts for $3.8 billion in direct costs to Canada’s healthcare system and is expected to increase to $4.9 billion in the next 10 years. Digital diabetes management solutions are smartphone-connected diabetes management devices and software platforms used by patients suffering from Type 1, Type 2, and gestational diabetes. Various digital diabetes management devices such as smart glucose meters, continuous glucose monitoring systems, smart insulin pens, and smart insulin pumps/closed-loop systems, and smart insulin patches are used for glucose monitoring and insulin delivery.
Market Growth Drivers:
Major factors for diabetes include stress, sedentary lifestyles, unhealthy diets, and obesity. Aging-related physiological changes are also a significant contributor to the risk of diabetes. The prevalence of Canadians living with diagnosed diabetes went by an average of 5% every year from 2000 to 2020. Aging-related physiological changes are also a significant contributor to the risk of diabetes. Therefore, the growing geriatric population, coupled with increasing population exposure to key risk factors, is expected to drive the demand for digital diabetes management solutions across major markets.
1. Canada Digital Diabetes Management Market Overview……….…………….…..…. A. Market Size 2. Market Growth Drivers………………………………………………………………………. A. Increasing prevalence of Diabetes B. Improve access to Integrated diabetes care services C. Growing Adoption of Cloud-Based Enterprise Solutions for Diabetes Management D. Increasing Penetration of Digital Platforms and Adoption of Mobile Apps for Diabetes Management E. Technological innovations and advancements are making it convenient to measure blood glucose levels 3. Digital Diabetes Management Market Industry Trends….……………………………… A. Growing Demand for Hybrid Closed-Loop Systems/Artificial Pancreas Device Systems B. Increasing Demand for Flash Glucose Monitoring (FGM) Systems 4. Digital Diabetes Management Market Segmentation….……………………….………. A. By Product and Services I. Devices II. Digital Diabetes Management Apps III. Data Management Software and Platforms IV. Services B. By Type I. Wearable Devices II. Handheld Devices C. By End User I. Home Care Settings II. Diabetes Clinics III. Academic and Research Institutes IV. Others 5. Digital Diabetes Management Major Products………….…….………………………… A. Market Analysis, Insights, and Forecast 6. Competitive Landscape…………………………….………………………………………. A. Major Players B. Products in Pipeline 7. Key Company Profiles…………….……………………………………….…….………….. A. Roche Product & Services, Strategies & Financials B. Sanofi Product & Services, Strategies & Financials C. Medtronic Product & Services, Strategies & Financials 8. Healthcare Policies and Regulatory Landscape…………………….…….……….… A. Policy changes and Reimbursement scenario 9. Factors Driving Future Growth…………………………………………………………… A. New Trends and Development of Digital Diabetes Market B. Future Opportunities 10. Conclusion
By Product and Services:
Based on Product and Services this market is segmented into Devices, Digital Diabetes Management Apps, Data Management Software and Platforms, Services. Digital diabetes management apps are also on a considerable rise owing to the simplicity of their usage. Life Scan a world leader in blood glucose monitoring announced a partnership with Shoppers Drug Mart Inc., one of Canada’s leading providers of pharmacy products and services, to pilot the retailer’s first digital diabetes management program. The six-month pilot program aims to improve health outcomes by simplifying self-management for Canadians living with diabetes.
Based on types this market is segmented into Wearable Devices, Handheld Devices. Usage of a continuous glucose monitor (CGM) is a wearable device that tracks blood glucose (Sugar) levels at regular intervals is growing at a tremendous rate. And wearable devices are holding the majority of the market share.
By End User:
Based on the end-user this market is segmented into Home Care Settings, Diabetes Clinics, Academic and Research Institutes, Others. Of these Home Care is the largest end-user segment for the digital diabetes market in Canada, Over the past few years, the development and adoption of home care devices have increased. Also, the growing focus of companies to increase awareness about diabetes and diabetes devices & apps are further driving the adoption of in-home care settings.
There have been constant innovations happening in the digital diabetes market. Recently a Canadian start-up Orpyx launched an intelligent insole system that helps manage and prevent diabetic foot ulcers through advanced foot sensor technology and analytics. In 2020, Abbott’s continuous glucose monitoring system, the FreeStyle Libre 2, has been approved in Canada for adults and children four years and older with diabetes. Other top Digital Diabetes Management Start-ups impacting the Healthcare Industry in Canada are One Drop in Connected Devices segment, PKvitality in Bloodless Glucose Level Monitoring, GlucoTab with Dosing Decision Support Systems for Doctors, Spike in Personal Diabetes Assistant, and Orpyx in Foot Ulcer Detection. Other Major Companies are Roche, Sanofi, Medtronic, etc.
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