Diabetes Monitoring Devices Market Insights, Trends, and Opportunity Analysis,2017-2025

Diabetes monitoring devices refers to logging and measuring blood glucose levels, examining the data, and sharing it with health care providers to manage the disease. There are two major product categories of diabetes monitoring devices; continuous glucose monitoring (CGM) and self-monitoring of blood glucose (SMBG). SMBG uses test strips to measure blood glucose and is restricted to the number of finger-sticks used. CGM can be used for real-time and short-term monitoring of patients, which is mainly reserved for personal use. CGM can report around 288 glucose values each day and generate data revealing patterns in glucose control. Diabetes monitoring products are experiencing the strong demand for maintaining glucose level, preventing life-threatening hypo/hyperglycemia and other diabetes related complications.

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Furthermore, increasing demand for technology that reduces painful insulin injections using syringes/pens or fingersticks using lancets is expected to drive the growth of diabetes monitoring devices market. Weight gain and body mass are central to the rising incidence and formation of diabetes. According to the Obesity Society, nearly 90% of people living with type 2 diabetes have obesity or are overweight. The rapid increase in the occurrence of diabetes is mainly attributed to the growing pervasiveness of obesity. Therefore, increasing obesity incidence is expected to drive the market in future. Moreover, increased efforts by health care professionals, disease management companies, and insurance companies to educate patients on the importance of diabetes monitoring is also expected to fuel the growth of diabetes monitoring devices

Technology advancements focuses on refining patient convenience and developing integrated devices is expected to boost the growth of diabetes monitoring devices market in near future

Advances in the diabetes monitoring devices are making more convenient and smaller products. Artificial pancreas technology was developed to replace painful fingersticks and conventional uncomfortable insulin delivery devices. It continuously and automatically administer and monitors insulin requirement of the body. For instance, Medtronic’s MiniMed 670G hybrid closed looped system (artificial pancreas), automatically administers insulin with respect to blood glucose measurements. It is the first FDA approved product that automatically monitors blood glucose level and deliver appropriate insulin doses in patients with 14 years of age and above with type 1 diabetes. Furthermore, new noninvasive and semi-invasive methods and various opportunities to provide care delivery support and data analytics are expected to drive the market growth. For instance, SugarBEAT (Nemaura Medical) a noninvasive small disposable patch painlessly stuck onto patient’s skin, and measures the body’s glucose levels. Some companies are using a smartphone as a glucometer. For instance, the Dexcom G5 Mobile Continuous Glucose Monitoring (CGM) System offers actual glucose analyses for diabetes patients every five minutes. The data can be shared and accessed conveniently and safely to the smart device.

However, price pressure on companies from nationalized health insurance programs, discrepancy in reimbursement, and inclination of patients towards cost-effective alternatives or testing less frequently can negatively impact the diabetes monitoring devices market.

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North America is anticipated to dominate the diabetes monitoring devices market, owing to increasing diabetes prevalence

Regional segmentation of the diabetes monitoring devices market by Coherent Market Insights includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is anticipated to dominate the diabetes monitoring devices market, owing to increasing number of diabetic patients. According to the Centers for Disease Control and Prevention (CDC) 2015, around 30.3 million Americans have diabetes and around 84.1 million have prediabetes. Increasing number of geriatric population and high prevalence of diabetes in some parts of Europe, Asia Pacific, and Latin America is expected to drive the growth of diabetes monitoring devices market during the forecast period.

Abbott Laboratories launched the FreeStyle Libre Flash for continuous monitoring of diabetes without finger stick calibration Major Key players operating in diabetes monitoring devices market include Bayer Healthcare AG, Medtronic, Dexcom, Sanofi, Abbott Laboratories, MediWise, Arkay, Inc., Cnoga Medical, Bigfoot Biomedical, Roche (Accu-Chek), and others. Market players are competing to develop technology for simplifying the blood glucose monitoring in diabetes patients. For instance, in January 2018, the U.S. FDA approved the FreeStyle Libre Flash Glucose Monitoring System (Abbott) for use among adults. It is the continuous glucose monitor system and eradicates the usage of finger sticks. A few manufacturers are planning to expand their retail presence in order to increase global presence. For instance, in October 2016, Roche has announced to increase the number of retail outlets in India that will cover double outlets from the existing 50,000 in next five years.

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