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The evolving diabetes management and monitoring technologies are reflected in dynamic trends being experienced in the diabetes monitoring industry. One big trend is continuous glucose monitors (CGMs) becoming pervasive. Such systems provide real-time blood sugar readings that allow people living with diabetes to make instant decisions about insulin dosing, dieting, and lifestyle adjustments based on these results. Additionally, there is an increasing focus on incorporating smart technology into Diabetes Monitor. Smart glucose meters, along with CGM devices, now come with features that facilitate data exchange between mobile applications or cloud-based platforms where users can store their glucose level information. This ensures remote access by both medical practitioners and patients who have diabetes, enabling them to use it for analysis of glucose trends, hence fostering a collaborative disease control approach driven by evidence, especially for those living with this condition remotely. This aligns well with the broader trends towards digital health and how technology is being used to manage chronic diseases.
In addition to this, sensor technologies have improved significantly across the Diabetes Monitor market. Continuous Glucose Monitors (CGMs) are introducing more accurate sensors that require fewer calibrations, thus enhancing the overall precision of glucose measurement values obtained frequently. Practically, non-invasive or minimally invasive glucose monitoring technologies are being developed more now. As opposed to finger pricking, innovators have come up with optical sensors, transdermal sensors, and implantable glucose monitors, among others. This is in a bid to make it bearable for users and ensure adherence in the case of regular monitoring, which is usually the case for those individuals with insulin-dependent diabetes.
Another key trend is the incorporation of artificial intelligence (AI) and machine learning algorithms into Diabetes Monitor. These technologies analyze large volumes of glucose data to give personalized feedback on how an individual is doing relative to their health goals or planned activities in order to help predict glycemic trends, as well as support informed medical advice for better management of diabetes. Furthermore, the market has seen a shift toward user-oriented and intuitive interfaces in Diabetes Monitor. Manufacturers are making devices that have simpler displays, touch screens, and user-friendly menus that can be used by all population segments irrespective of age or technical know-how. This approach aims to improve user experience with respect to such gadgets due to a range of demographics found within the diabetic community.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | · Technologically Advanced Products· Research Funding In Diabetes Diagnosis And Treatment |
Diabetes Monitors Market Highlights:
Diabetes Monitors Market Overview
The Diabetes Monitors Market is projected to reach USD 13.68 Billion by 2032 at 7.8% CAGR during the forecast period 2023-2032. Diabetes mellitus is a chronic disease resulting from an inadequacy of insulin in the body. The condition triggers elevated blood-glucose concentrations. As a result, glucose level monitoring is done regularly to prolong life expectancy by effectively managing diabetes.
COVID-19 Analysis
Diabetes is a commonly related factor related to mortality and seriousness of the coronavirus disease infection. The need for diabetes patients to shield themselves against infection, especially health care workers in great danger of COVID-19, is critical to the safe handling of the pandemic's effect. As it has been proven that patients with diabetes are at risk of severe disease, it has been deemed essential to uphold strict glycemic control concurrently with COVID-19 treatment to improve results. The present epidemic of COVID-19 has permitted the latest technologies to manage high-risk patients with diabetes through telehealth and benefit those patients. Furthermore, shielding health care workers at high risk of COVID-19 is critical as they are the key to the pandemic's overall handling.
It was on March 2024 when the Food and Drug Administration (FDA) of the United States approved the sale of over-the-counter continuous glucose monitor (CGM).
In February 2024, Dexcom Inc. introduced its newest CGM system called the Dexcom ONE+.
Exactly in October 2023, Dexcom’s next-generation Continuous Glucose Monitoring System for type-1 diabetes patients was authorized by the Canadian government.
In August 2023, ACON Laboratories, Inc., an American firm headquartered here, announced the availability of the On Call® MultiPro System designed for point-of-care testing in healthcare facilities, providing quick and correct outcomes, support to multiple languages, as well as various connection options.
A homegrown CGM device that received sanctioning from South Korean Ministry of Food and Drug Safety in June 2023 is acknowledged to be CareSens Air, which is produced by I-SENS Co., Ltd., a manufacturer of blood glucose devices; it claimed itself be the smallest one among all such products available in Korea. Also, it can work non-stop within two weeks with calibration to improve its accuracy.
Diabetes Monitors Market Trends
Drivers
Increasing Prevalence and Incidence Of Diabetes Mellitus
The uptick in detection rates of diabetes has raised the requirement for continuous monitoring in some cases, which is predicted to benefit the diabetes monitor market.
Rise In Technological Innovations
The accelerated pace of innovation in medical devices is estimated to be seen in diabetes monitoring devices, thus enhancing the overall diabetes monitor market stake.
Research Funding In Diabetes Diagnosis And Treatment
The augmented flow of funds into the research of diabetes is estimated to bolster the diabetes monitor market in the coming period.
Rising Awareness And Screening For Diabetes Mellitus
Better diagnostic tools have increased detection rates, consequently leading to better awareness of diabetes and its complications.
Opportunities
Technologically Advanced Products
The cutting edge developments in diabetes monitors with the inclusion of sensors is estimated to promote the diabetes monitor market in the upcoming years.
Challenges
Stringent Reimbursement and Insurance Policies In Developing Nations
The strict reimbursement protocols instated in certain regions may restrict the diabetes monitor market growth in the forecast period.
Diabetes Monitors Market Segment Insights
Diabetes Monitors Sample Insights
The blood sample segment is anticipated to control the most extensive market part of 75.70% in the review period, and it is also expected to develop at the speediest CAGR of 8.6%
Diabetes Monitors Type Insights
The continuous glucose monitors segment is appraised to expand at the top spot in the segment through the forecast period.
Diabetes Monitors Components Insights
The sensors segments are estimated to gain the forecast period's chief stake.
Diabetes Monitors End-Users Insights
The hospital segment is forecasted to lead the forecast period's overall segment.
Diabetes Monitors Market Regional Analysis
Americas Region To Power Ahead
The Americas dominate the diabetes monitors market due to the patient population, sophisticated technology, high healthcare spending, and the important players' existence in the region. Due to the condition's high occurrence, private organizations, companies, and government associations are actively improving diabetes care in the region.
Technology To Fortify The European Region's Market
The European regional market holds the following place in the diabetes monitors market. It is anticipated that the government organizations' support for research & advancement, along with high-tech technology, is driving the market in the European region.
APAC To Capitalize On Cost-Effective Solutions
The Asia Pacific diabetes monitor market in the region is the fastest rising throughout the forecast period. A collective need for rapidly advancing technology, lucrative glucose monitoring devices, and a huge patient pool drive this market's growth in the Asia Pacific.
Diabetes Monitors Market Competitive Landscape
The promising contenders in the Diabetes Monitor Market are
- Panasonic
- Abbott Laboratories
- Dexcom, Inc.
- Hoffmann-La Roche Ltd
- Medtronic,
- LifeScan, Inc.
- Sanofi
Recent Developments
A Japanese startup claims to have resolved one of the chief medical technology problems of noninvasive continuous glucose monitoring. Quantum Operation Inc has revealed that its model wearable can precisely measure blood sugar from the wrist. The prototype stuffs in a small spectrometer to scan the blood to measure glucose. Quantum's pitch adds that the watch can deliver other vital signs, including ECG and heart rate. The wearer needs to slide the watch on and start the menu's monitoring, and after around 20 seconds, the data is presented.
According to reports, Apple Watch Series 7 plans to check blood glucose through optical sensors. It will exploit a no-blood sampling method that perceives glucose levels in the blood using an optical sensor. Apple has attained a patent on blood glucose monitoring. The company is dedicated to guaranteeing technical reliability and constancy before commercializing the product. The industry believes that Apple's optical sensor can realize continuous monitoring without an implant.
California has proposed presenting USD 12 million to expand coverage of constant glucose monitors (CGMs). The 2021-22 budget tender is intended to increase access to CGMs among adults with Type 1 diabetes who are protected by California's Medicaid program Medi-Cal. Dexcom, Medtronic, Abbott, and Senseonics contend for the U.S. CGM market. The trade group AdvaMed hailed the proposal, arguing it will decrease overall healthcare charges, and called on other states to take comparable steps to ensure access to CGMs.
Teladoc Health will unveil a pilot demo of Dexcom's wearable, continuous glucose monitoring systems in patients with Type 2 diabetes, picking up the torch from the device maker's collaboration with Livongo following its USD 18.5 billion purchase last year. The project will start by providing the blood sugar sensors at no cost to specific members of Teladoc and Livongo's diabetes program before increasing the pilot's reach in the year. The goal is to progress consequences and healthy glucose levels among people with Type 2 diabetes by delivering them with the same real-time recommendations for lifestyle decisions, isual data, and personal inclinations offered to individuals with Type 1 diabetes.
A computer vision technology advanced by University of Cambridge engineers has now been created into a free mobile phone app for consistent monitoring of glucose levels in people with diabetes. The app uses computer vision methods to read and record the glucose levels, date, and time displayed on a typical glucose test via a mobile phone camera. The technology, which doesn't necessitate an internet or Bluetooth connection, works for any glucose meter, any alignment, and many light levels.
Medtronic has stated its intention to acquire insulin pen manufacturer Companion Medical for an unspecified amount. Companion Medical's product portfolio comprises the InPen FDA-cleared smart insulin pen system combined with an integrated diabetes management app on the diabetes monitors market. It is intended to aid in calculating insulin doses, trace active insulin, and send reports to caregivers and is obtainable in the U.S. by prescription only. The InPen adds to Medtronic's diabetes range of the MiniMed insulin pump, Guardian CGM, and more.
Diabetes Monitors Market Segmentation
Diabetes Monitors Samples Outlook
- Blood Samples
- Sweat Samples
- Urine Samples
Diabetes Monitors Type Outlook
- Point Sample Test-Based Glucose Monitors
- Continuous Glucose Monitors
- Enzyme Free Sensor-Based Glucose Monitors
Diabetes Monitors Component Outlook
- Lancet
- Glucose test strips
- Sensors
Diabetes Monitors End-User Outlook
- Diagnostic Clinics
- Hospitals
- Home
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