Canada Digital Health in Diabetes Market Analysis and Forecast

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  • Type: Service area
  • Published : May 2021
  • Region: North America
  • Country: Canada
  • 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)

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Report Overview

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

Market Segmentation

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.

By Type:

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.

 Major Players

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.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

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Stage I: Market Data Collection

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Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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