Artificial Intelligence (AI) in Diabetes Management Market: Outlook
Artificial intelligence (AI) and machine learning (ML) tools have shown an incredible potential in expanding the reach of diabetes care. AI-based management strategies for diabetes mellitus are rapidly evolving with the goal of reducing the prevalence of both diabetes 1 and 2. The application of AI technology in diabetes self-management is a key pillar for timely intervention, boost metabolic control, and eventually enhance the quality of life for the patient population. Data-driven decisions have helped drive the evolution of the AI in diabetes management market.
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AI applications holds vast clinical potential in the disease prevention, educating patients about the lifestyle and dietary guidance, and exercise regimen, insulin injection schedules, underpinning the growth of the AI in diabetes management market. Regulations in countries with high morbidity and mortality of diabetes are appraising the benefits of ML tools for providing education and empowering patients in self-management. Cases in points are favorable outlook of the regulatory agencies in the U.S., China, India, and the U.K.
Artificial Intelligence (AI) in Diabetes Management Market: Key Drivers, Trends, and Avenues
In a recent study published in the NCBI, the prevalence in India is around 8–10%, with higher burden in urban areas. Per a study by the International Diabetes Federation (IDF), as many as 463 million people between the age of 20 and 79 years suffer from diabetes, with the figure expected to reach 693 million people by 2045-end. The disease accounts for overall 12% of the healthcare expenditure, which highlights the substantial burden of the disease. The statistics presents a huge unmet need, and AI/ML tools offer a promising way to bridge the gap, and thus propelling the growth avenues in the AI in diabetes management market. Stridently, the AI approaches have already being leveraged for reducing the burden of the disease.
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The lack of real-time data is a key underpinning for evolving diabetes management approaches based on AI/ML tools. The growing role of AI in personalized lifestyle guidance is a key driver of the AI diabetes management market.
The EHR data is being used to predict risk of the disease by gleaning over genomic data. AI has been specifically used to predict the risks of nephropathy and retinopathy. In addition, the the use of AI in automated diagnosis and grading of diabetic retinopathy diagnosis is a case in point. All these are enriching the landscape of the AI in diabetes management market.
Artificial Intelligence (AI) in Diabetes Management Market: Competition Landscape
A number of AI-based risk prediction systems have made commercialization. Over the years, AI/ML algorithms are used in closed-loop insulin delivery system in type 1 diabetes, which help in predicting hypoglycemic and hyperglycemic risks. In recent years, a spate of studies have seen AI/ML approaches being explored for managing type 2 diabetes. Subsequently, industry stakeholders are gaining revenues in the AI in diabetes management market from such developments. This has helped anticipate impending hypoglycemic or hyperglycemic events.
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Two key areas where companies are fervently exploring the potential of AI are early disease diagnosis and in medication adherence. Wearable such as Fitbit and Samsung health have expanded the reach of diabetes reach by providing the target population all the information to help in timely decisions. AI methods are being explored to enrich insulin pumps and CGMs. The use cases of AI for estimating the risk of type 2 diabetes in adults. Studies thus far have shown that AI holds promise in postprandial hyperglycemia.
Artificial Intelligence (AI) in Diabetes Management Market: Regional Landscape
Some of the key regions in the AI in diabetes management market are North America, Asia Pacific, Europe, and the Middle East and Africa. Ongoing studies for developing AI models are expected to pave the way to new avenues in the AI in diabetes management market. Another area with vast unmet need is medication adherence - a significant percent of diabetic population stop taking their medications after three months. ML/AL tools are being used to address their problem. Though the study is in preliminary stages, the prospects is high in developed countries. Thus, North America holds a vast potential in the global AI in diabetes management market. Some of the key players in the AI in diabetes management market are Vodafone Group Plc., Apple Inc., Google Inc., and IBM Corporation.