Diabetes Monitoring Devices Market Is Expected To Witness Strong Growth In North America Region

The rising incidence and prevalence of diabetes owing to changing lifestyles are fostering the growth of the diabetes monitoring devices market. According to the American Diabetes Association, in 2018, 34.2 million Americans, or 10.5% of the population, had diabetes. Nearly 1.6 million Americans have type 1 diabetes, including about 187,000 children and adolescents. Of the 34.2 million adults with diabetes, 26.8 million were diagnosed, and 7.3 million were undiagnosed.

The growing geriatric population is also increasing prevalence of diabetes which is again augmenting the growth of the market. Furthermore, a growing partnership among key players is another key factor propelling the growth of the diabetes monitoring devices market. For instance, in January 2019, Eris Lifesciences, one of the leading players in the chronic drugs segment, and India Medtronic Pvt. Ltd, a wholly-owned subsidiary of Medtronic plc announced their collaboration for a diabetes monitoring initiative in India.

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In November 2020, Abbott announced that the FreeStyle® Libre system, the continuous glucose monitoring (CGM) technology, is now available for adults and children (above the age of four) living with diabetes in India and women with gestational diabetes (diabetes during pregnancy)

In January 2019, The U.S. Food and Drug Administration has approved the first implantable continuous glucose monitoring (CGM) device for people with type 1 and type 2 diabetes. The device, called the Eversense Continuous Glucose Monitoring System, provides monitoring for up to three months, and it’s approved for people age 18 and older

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North America is expected to lead the global diabetes monitoring devices market and this is accredited to the growing government initiatives for the prevention of diabetes and treatment support along with the presence of key players in the region.

For instance, in April 2017, the Centers for Disease Control and Prevention (CDC) released a five-year funding opportunity announcement to scale up the National Diabetes Prevention Program in underserved areas of the country. Moreover, the CDC’s Division of Diabetes Translation (DDT) funds to state and local health departments to support programs and activities for improving health outcomes in people suffering from diabetes.

Diabetes Monitoring Devices allow Type 1 and Type 2 diabetics to monitor their blood glucose levels from any location, giving them a true sense of independence. They are an easy-to-use, battery-operated, small personal diabetes monitoring device that allows the wearer to remotely monitor his/her blood glucose levels via a Bluetooth interface. This type of device is ideal for people who may not have access to a computer or other source of information, such as those living in rural areas or those with long work hours.

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