Diabetes Monitoring Devices Market (2021–2027): Segmented by Application (Application 1, Application 2, Application 3) and Geography, Growth, Trends and Forecasts

The rising incidence and prevalence of diabetes due to changing lifestyles are fostering the expansion of the diabetes monitoring devices market. consistent with 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 additionally increasing prevalence of diabetes which is again augmenting the expansion of the market. Furthermore, a growing partnership among key players is another key factor propelling the expansion of the diabetes monitoring devices market. as an example , in January 2019, Eris Lifesciences, one among the leading players within 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 continual glucose monitoring (CGM) technology, is now available for adults and youngsters (above the age of four) living with diabetes in India and ladies with gestational diabetes (diabetes during pregnancy)

In January 2019, The U.S. Food and Drug Administration has approved the primary implantable continuous glucose monitoring (CGM) device for people with type 1 and sort 2 diabetes. The device, called the Eversense Continuous Glucose Monitoring System, provides monitoring for up to 3 months, and it’s approved for people age 18 and older

North America is predicted to steer the worldwide diabetes monitoring devices market and this is often accredited to the growing government initiatives for the prevention of diabetes and treatment support along side the presence of key players within the region. as an example , in April 2017, the Centers for Disease Control and Prevention (CDC) released a five-year funding opportunity announcement to proportion the National Diabetes Prevention Program in underserved areas of the country. Moreover, the CDC’s Division of Diabetes Translation (DDT) funds to state and native health departments to support programs and activities for improving health outcomes in people affected by diabetes.

Diabetes Monitoring Devices allow Type 1 and sort 2 diabetics to watch their blood sugar levels from any location, giving them a real sense of independence. they’re an easy-to-use, battery-operated, small personal diabetes monitor that permits the wearer to remotely monitor his/her blood sugar levels via a Bluetooth interface. this sort of device is right for people that might not have access to a computer or other source of data , like those living in rural areas or those with long work hours.

Key Players

The key players operating the global diabetes monitoring devices market include Bayer Healthcare AG, Medtronic, Dexcom, Sanofi, Abbott Laboratories, MediWise, Arkay, Inc., Cnoga Medical, and Bigfoot Biomedical.

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