The Mobile Continuous Glucose Monitoring System Market to Delve Deeper into technological advancements
Glucose is a form of sugar that is absorbed through food and is utilized by the body for producing energy. The body produces insulin to regulate glucose in the blood, however when the production of insulin in the body is hampered the glucose level in the blood becomes unregulated causing diabetes. Globally it has been witnessed that the disease burden of diabetes has been increasing at an accelerated rate during the past few decades. According to the WHO’s 2014 estimates, nearly 422 million people have diabetes. Diabetes increases the risk of causing several complications in the body like heart attack, stroke, kidney failure, slow healing of wounds causing sepsis and leg amputations, nerve damage and vision loss, due to these severe risks, diabetic patients are required to monitor their blood glucose levels regularly. The traditional glucose monitoring techniques usually are make use of small incision on the finger to remove blood for screening the glucose level however diabetic patients may suffer from fluctuating glucose levels throughout the day and may require to inject insulin as the level of glucose in the blood increases, this requires continuous blood glucose monitoring systems. Continuous blood glucose monitoring systems are generally made up of two key components: a sensor that is placed under the skin which monitor the glucose levels and a transmitter which sends the data to a display device which may be smart phones of personal computers. These systems enable the patients or doctors to access blood glucose data constantly and even remotely.
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The increasing incidence and prevalence rate of diabetes is mainly expected to boost the demand for continuous glucose monitoring systems. According to WHO the prevalence rate of diabetes has almost doubled in past few decades and is estimated to account up to nearly 8.5% of the global adult population. The increasing number of diabetic patients are expected to increase demand for continuous glucose monitoring systems. In recent years the internet and smartphone penetration has increased rapidly in the emerging countries like China, India and Latin American Countries, which is making it easier for the medical device manufacturers to introduce personal healthcare products based on the internet platform that can be easily accessed by the patients via smartphones. Technological developments like integration of smart watches into continuous glucose monitoring systems by companies like Apple, Inc. and others trying for the same is expected to increase the adoption rate of the continuous glucose monitoring systems and boost the overall demand for continuous glucose monitoring systems market. Moreover companies like Dexcom, Inc. are trying to manufacture products with capability of transmitting data to other devices and systems like integration of data into EMR (Electronic Medical Records) which is expected to significantly boost mobile continuous glucose monitoring system market. However the stringent regulatory policies like PMA (Premarket Approval) from FDA may decelerate the entry of new technology in the mobile continuous monitoring system market. Also the price of continuous glucose monitoring systems are comparatively higher than the conventional glucose monitoring devices which in turn is expected to hamper continuous glucose monitoring system market. Some other factors restraining the market growth are weak reimbursement policies, fierce competition among existing players and entry of several new players in the continuous mobile glucose monitoring system market.
The mobile continuous glucose monitoring systems market in segment into following types
By Product Type
- Mobile Applications
By Distribution Channel
- Retail Pharmacies
- Online Pharmacies
- Non-invasive (Exfoliation)
As the diabetic patient pool is increasing rapidly the mobile continuous glucose monitoring systems market is expected to witness healthy CAGR over the forecast period.
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Geographically, mobile continuous glucose monitoring systems market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA). Geographically North America and Europe are expected to be the leading markets for mobile continuous glucose monitoring systems. Several companies have established distribution network in the U.S. and Europe which is expected to boost the growth of mobile continuous glucose monitoring systems market. Also the Medicare provides coverage for several mobile continuous glucose systems in the U.S. which in turn is expected to increase adoption rate of the continuous mobile monitoring systems. Asia Pacific is expected to be next promising market for the mobile continuous glucose monitoring systems due to high diabetic population and increasing per capita healthcare spending. China and India are some of the leading countries in prevalence rate of diabetes also companies gain operational leverage due to low labor and raw materials cost in these countries which is expected to significantly boost the mobile continuous glucose monitoring systems market in this region. Latin America is expected to be next key market after APAC due to due to increasing adoption rate of the mobile continuous glucose monitoring systems mainly due to strong promotional and distribution strategies of the manufacturers. MEA region is expected to follow up after Latin America due to increasing standards in healthcare and rising incidence of diabetes.
Some key players in the mobile continuous glucose monitoring systems market are Dexcom, Inc., Insulet Corporation, Abbott Laboratories Limited, Panasonic Healthcare Corporation, Echo Therapeutics, Inc., Medtronic, LifeScan, Inc. Roche Diagnostics, Tandem Diabetes Care, Inc. and GlySens Incorporated.
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