Glucose Monitoring Devices Market

Current Scenario

The glucose monitoring devices market is currently moving forward at a steady rate. The market is expected to expand further with the approval of the first over-the-counter continuous blood glucose monitor known as the Dexcom Stelo Glucose Biosensor System in the United States for type 2 diabetic patients by the FDA in March 2024. This is designed for individuals aged 18 or more with type 2 diabetes who don’t consume insulin. Moreover, the market is heavily dominated by sensor-based devices or systems, with some players beginning the introduction of AI-based solutions. Hence, today, this market is growing at a consistent pace.

Drivers

Technological advancements are driving the growth of the glucose monitoring devices market. The year-on-year rise in diabetic patients is fuelling the development of newer solutions or products. Lately, diabetes has ranked among the primary reasons for death across the world. As of now, the exact prevention or cure of this hasn’t been found which propels the market forward. Electrochemical-powered continuous glucose monitoring (CGM) systems have been marketed extensively and valued by patients. Apart from this, the market growth is also boosted by the trend of wearable health devices, leading to the popularity of CGM devices. Likewise, in June 2024, the Food and Drugs Administration (FDA) cleared and granted federal approval for the two over-the-counter CGMs, containing one for those not having diabetes.

Restraints

Despite CGMs gaining traction, the high costs of their sensors are one of the factors impeding the expansion of the glucose monitoring devices market. Besides this frequent calibration through finger prick measurement and short lifetime also hinders the market growth rate. In addition, glucose sensors based on electrochemical continue to have problems in terms of accuracy, portability, and long lifetime.

Segment Analysis

By Device Type

• Continuous Wearable Devices
• Self-Monitoring Devices

The continuous wearable device segment is quickly becoming popular for health monitoring and is predicted to expand aggressively during the forecast period for the glucose monitoring devices market. The recent breakthroughs in optical sensors for constant tracking are fuelling the demand for continuous wearable devices. Today modern sensors are developed for CGM, primarily based on the electrochemical way of doing it. Moreover, market players comprising Dexcom, Abbott, and Medtronic, have played a major role in accelerating the development of CGM systems and have fruitfully commercialised various versions or models of these sensors, resulting in the expansion of the segment’s market share. In addition, these sensors have the ability for subcutaneous tissue glucose monitoring as few of the CGM sensors are planted inside these tissues. Therefore, the segment is growing and gaining higher traction than self-monitoring devices.

By Application

• Hospitals
• Clinics and Diagnostic Centers
• Home Setting
• Ambulatory Settings

Hospitals emerged as the biggest users in the glucose monitoring devices market. Rising modern infrastructure and increased application of technically advanced systems in hospitals propel the segment’s market growth. Several studies have evaluated the application of CGM systems in critical and non-critical environments in hospitals, showing promising outcomes. Moreover, as of now, bedside point-of-care glucose (POC) is the suggested method of testing glucose for diabetic patients hospitalised. However, CGM systems have transformed glucose monitoring in outpatients. Furthermore, the majority of inpatient studies conducted evaluated the precision of CGM against POC and only some have assessed whether or not CGM devices can have extra advantages over these traditional ones.

Regional Analysis

North America holds a major share of the glucose monitoring devices market. The region witnessed significant progress in this field due to the rising prevalence of diabetes and the rapid acceptance of modern technologically advanced systems. According to a meta-analysis, the frequency of gestational diabetes mellitus in the United States and Canada is higher than that in Europe. However, it also sheds light on the necessity to standardise protocols for predicting and calculating this diabetes mellitus incidence.

European glucose monitoring devices market is steadily moving forward and is expected to experience further technological advancements and product launches during the forecast period. This is due to greater awareness and availability of CGM systems. Also, the strict governance and regulation of such devices and systems by the European Commission and other authorities have surged the region’s market share.

Recent Market Developments

• In August 2024, Abbott press released the partnership with Medtronic for an integrated continuous glucose monitoring (CGM) system. It will be based on FreeStyle Libre technology of Abbott which will link with a smart insulin pen and automated insulin delivery (AID)systems. The incorporation of the CGM sensor of Abbott with AID algorithms of Medtronic will provide automatic changes of insulin to maintain the glucose range.
• In March 2024, Roche launched its forthcoming continuous glucose monitoring system. It features artificial intelligence-based predictions of blood sugar lows and highs. The company tabled a few initial precision data for its latest Accu-Chek SmartGuide apps and sensor.

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