In a recent published report, Kenneth Research has updated the market report for Indonesia Digital Diabetes Management Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Indonesia Digital Diabetes Management Market products.
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Indonesia Digital Diabetes Management Market Highlights Over 2020 – 2030
The Indonesia digital diabetes management market is estimated to garner a revenue of USD 612.18 Million by the end of 2030, by growing at a CAGR of 17.97% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market in the nation registered a revenue of USD 117.71 Million. The growth of the market can be attributed primarily to the growing prevalence of diabetes in the nation which is driving the need for the adoption of diagnostic devices that can help in early detection of the disease. According to the statistics by the International Diabetes Federation (IDF), the number of people who have diabetes in the nation grew from 5654.3 Thousands in the year 2000 to 19465.1 Thousands in the year 2021. The statistics further stated that the prevalence of the disease amongst individuals in the nation is expected to reach 28569.9 Thousands by the end of 2045. Besides this, the growing advancement in information technology and the increasing adoption of IT in healthcare, which has given birth to several mobile health (mhealth) applications for use in smartphones or as smart wearables are also expected to poise significant growth opportunities for the market growth in the coming years.
The growth of the market can also be attributed to the growing number of individuals using the internet and the rising internet penetration in the nation. According to the statistics by the World Bank, the number of individuals using the internet as a share of the total population of Indonesia, increased from 10.92% in the year 2010 to 53.726% in the year 2020. On the other hand, the internet penetration rate in the nation is expected to cross by around 80% by the end of 2025. The market growth in the country can also be attributed to the growing adoption of smart wearables. Modern day smart wearables are equipped with numerous sensors that can detect several types of diseases and can share alerts when the optimum levels are reached.
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Growth Drivers and Challenges Impacting the Growth of the Indonesia Digital Diabetes Management Market
Growth Drivers
- Increasing Prevalence of Diabetes
- Rising Demand for Mobile Health Apps
- Growing Penetration of the Internet
- Growing Adoption of Smart Wearables
Challenges
- High Cost of Devices
- Rising Concern for Security
Indonesia Digital Diabetes Management Market Segmentation Synopsis
The Indonesia digital diabetes management market is segmented by product & service into device and services, out of which, the device segment is anticipated to garner the largest revenue by the end of 2030 and grow with a CAGR of 17.86% during the forecast period. By device type, the market is segmented into handheld devices, and wearable devices. Amongst these, the wearable devices segment is anticipated to garner the largest revenue by the end of 2030 and also grow with the highest CAGR of 18.24% during the forecast period. By diabetes type, the market is segmented into type 1 and type 2, out of which, the type 2 segment is anticipated to generate the largest revenue of USD 142.54 Million in the year 2022. By end-user, the market is segmented into home care settings, hospitals & specialty diabetes clinics, academic & research institutes, sports & gym centers, and others. Amongst these, the hospitals & specialty diabetes clinics segment is anticipated to garner the largest revenue of USD 214.14 Million by the end of 2030, up from a revenue of USD 40.19 Million in the year 2020.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Indonesia digital diabetes management market that are included in our report are Brighter AB, F.Hoffmann-La Roche Ltd, Medtronic, Azumio Inc., Smart Meter LLC, Abbott, B. Braun Melsungen AG, Biocon, Becton, Dickinson and Company, and others.
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