Global artificial intelligence in diabetes management market was estimated to be US$ 218.70 million in 2018 and is expected to reach US$ 3874.52 million by 2027, growing at a CAGR of 37.7% over the forecast period (2019 to 2027). Growing number of Type 2 diabetes population owing to sedentary lifestyle and obesity epidemic aids the growth of the overall industry. Desk-bound jobs mainly overwhelms the body’s internal glucose control leading to requirement of exogenous insulin. Thus, optimal care for people suffering from diabetes is often hampered by absence of real time decision making and not able to make informed choices associated with intensive therapy and tight diabetes control. Therefore, technology advancements leading to real time diabetes care information and rapid expansion of medical knowledge helps patients to track their time and expenses in a better manner. The need for solution that primarily enable a person to optimize their meals and physical activities, based on one’s choice can be a huge change for diabetes patients. Artificial Intelligence in diabetes management algorithm basically delivers such simplified, personalized feedback to individuals making their life easier with less complications.
In the recent past, AI has been applied to glucose prediction and retinopathy decisions, amongst others. The introduction of artificial pancreas, a hybrid closed-loop system in 2016 duly approved by the FDA is a device that automatically controls blood glucose levels through a subcutaneous sensor and an external insulin pump. Company participant such as Tandem and Medtronic have successfully marketed their products MiniMed 670G/Guardian Sensor 3 and Basal-IQ respectively that automates basal insulin delivery and also helps in correcting boluses for high blood sugars.
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This market research report on the Artificial Intelligence In Diabetes Management Market is an all-inclusive study of the business sectors up-to-date outlines, industry enhancement drivers, and manacles. It provides market projections for the coming years. It contains an analysis of late augmentations in innovation, Porter’s five force model analysis and progressive profiles of hand-picked industry competitors. The report additionally formulates a survey of minor and full-scale factors charging for the new applicants in the market and the ones as of now in the market along with a systematic value chain exploration.
Top Key Players:
Market participants include Diabnext, DreaMed Diabetes, Ltd., GlucoMe, Hedia, medicsen, Medtronic, Sweetch, TypeZero Technologies, Inc., XBIRD among others.
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