Artificial intelligence or AI is an area of computer science which emphasizes in creation of smart machines which work & reacts like humans. The AI in healthcare uses software and an algorithm to fairly accurate human cognition in analysis of composite medical data. Diabetes is a metabolic disorder illustrated by the lack of insulin in the pancreas. The main cause of the diabetes is mellitus includes genetics and unhealthy lifestyle. Diabetes mellitus condition in which a person has high blood glucose levels. Insulin-dependent (type 1) diabetes which can be controlled by monitoring the blood glucose levels and blood tests which are performed throughout the day by adjusting the insulin levels based on such readings. This invasive method is time-consuming, inconvenient, painful, and not good enough for managing a dynamic & complex disease condition for instance diabetes. In addition, the non-invasive methods of blood glucose measurements including insulin delivery are under the development.
The diabetes cure is dependent on the type of diabetes, and its strictness. The technological development is expected to be more advanced in AI is expected to continue and will remove the disorders related to diabetes mobile solutions & healthcare sector.
According to study, “Global Artificial Intelligence in Diabetes Management Market: Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023” the key companies operating in the global artificial intelligence in diabetes management market are IBM Corporation, Tidepool, Apple Inc., Bigfoot Biomedical, Glooko Inc., XBIRD, Sensyne Health plc., Google Inc. Diabnext, Vodafone Group Plc., Livongo Health, Medtronic, medicsen, PredictBGL, DreaMed Diabetes, Ltd., GlucoMe, Hedia, Sweetch, Virta Health Corp, TypeZero Technologies, Inc., Wellthy Therapeutics Pvt Ltd. These vendors come with a thought of several applications in diabetes management which would facilitate in controlling & managing diabetes. In addition, the increase in use of mobile phones permitting these vendors to design apps which directly or indirectly assist to manage the diabetes mellitus.
Based on device type, global artificial intelligence in diabetes management market is classified into diagnostic devices, glucose monitoring devices, insulin delivery devices and other devices. Based on type of techniques market is segmented into intelligent data analysis and the case-based reasoning. Based on type of methods the market is segmented into convolutional neural network (CNN), fuzzy logic or fuzzy system, random forest, Support vector machine (SVM), multilayer perceptron, logistic regression, K-nearest neighbors algorithm and natural language processing. Based on application form market is segmented into predictive population risk stratification, clinical decision support, automated retinal screening, patient self management tools and others. In addition, based on end-users, market is segmented into diabetes management centers, hospitals & clinics and research institutes.
The global artificial intelligence in diabetes management market is primarily driven by rise in urbanization. Some of the driven factors include obesity pandemic, favorable demographics and rising healthcare costs. Apart from benefits, the major restraining factors include lack of curated data sets, less digital savvy patients, reimbursement & cost coverage issues and patient privacy & data security concerns. Additionally, some of the other key opportunities include rise in prevalence for all types of diabetes, growing product innovations, democratization of knowledge and growing usage of mobile technology in diabetes management.
Diabetes is a chronic disease that widely impact the global population. It is a global epidemic & the most costly disease. Center for Disease Control and Prevention, the U.S. incurs $245 billion a year in lost wages. Additionally, millions of people are distressed with the diabetes globally and this number is growing at a rapid pace creating a profitable opportunity for companies & entrepreneurs. In the upcoming years it is expected that the global artificial intelligence in diabetes management to grow rapidly due to rising the digital affinity.
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Global Artificial Intelligence in Diabetes Management Market
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