Continuous Glucose Monitoring is an innovative non-intrusive method to measure long-term blood glucose control. The CGM instrument, an infrared sensor is attached to the fingertip of the individual taking the test. A small blood sample is first taken with a disposable applicator and then sent for analysis to a laboratory. A highly sensitive test known as quantitative blood testing (or QFT) is performed on the collected blood samples. A specific protocol for interpreting the results of the test is followed by the physician based on his findings. Continuous glucose monitoring device provides the doctor with important information about the condition of the patient. This is important because the doctor needs to make treatment decisions based on the observations of the patient.
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Major Company Profiles Covered in This Report: Medtronic, Dexcom, Inc., Abbott Laboratories, Medtrum Technologies, Inc., Tandem Diabetes Care, Senseonics, Glycens, Insulet Corporation, and Nemaura Medical, Inc., STMicroelectronics, NXP Semiconductors, Qualcomm, Taiwan Semiconductor Manufacturing Company Limited, GE Healthcare, Microchip Technology Inc., Texas Instruments Inc. and Micron Technology Inc.
The growing prevalence of diabetes is augmenting growth of the continuous glucose monitoring 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.
Continuous launch of new and advanced products is uplifting growth of the market. For instance, in March 2021, Roche has announced the launch of the new Accu-Chek Instant system, a new “connected” blood glucose monitoring (BGM) system, which supports and enables Roche’s approach of integrated Personalized Diabetes Management (iPDM).
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Covid-19 Impact Analysis
With continuing spread of coronavirus infection, MedTech companies are slowly and gradually building their recessionary curve by leveraging technology. Various organizations are going through response, renewal, and recovery phases. Continuous launch of the product by organizations to retain their position in the market will helps key players to get out of the COVID-19 pandemic.
The continuous glucose monitoring market is expected to exhibit a CAGR of XX % over the forecast period, owing to the increasing research & development activities in the field. For instance, in June 2021, Researchers tested the effectiveness of the two different monitoring devices in 175 participants with type 2 diabetes who were being treated with insulin. They observed that people with type 2 diabetes who use insulin may see more benefits from the device than from a traditional blood glucose monitor, for which they periodically prick their skin to test their blood sugar.
North America is expected to gain significant growth over the forecast period and this is attributed to the presence of strong players in the region. For instance, Medtronic, Abbott Laboratories, GE Healthcare, and Texas Instruments Inc. are some of the key players in the United States.
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