IQ4I Research published a new report on Glucose Monitoring Global Market
05/21/2021

Glucose Monitoring global Market estimated to be worth $15,321.8 million by 2027

Online PR News – 21-May-2021 – Bangalore Karnataka – Diabetes is a chronic disease condition in which the blood glucose level regulation is varied because the body lacks enough insulin (a hormone that controls the level of sugar in the blood) or the body cannot utilize the insulin that is produced. Three types of diabetic conditions have been identified, type 1 diabetes, wherein the body does not produce insulin, type 2 diabetes, which is the most common type, the body does not make or use insulin well and gestational diabetes which affects pregnant women. Having too much glucose in the blood can cause serious problems to vital organs including the eyes, kidneys, and nerves. Long term complication of diabetes includes cardiovascular diseases, (coronary artery disease, heart attack, stroke, and atherosclerosis), neuropathy (nerve damage), nephropathy (kidney damage), retinopathy (eye damage), and other conditions.

Monitoring the blood sugar level regularly and analyzing the results is crucial in managing diabetes. Self-monitoring of blood glucose level is an integral part of diabetes management because it puts the patient in charge. Regardless of managing diabetes through diet and exercise alone or combined with oral medicines or insulin, regular blood sugar monitoring provides immediate feedback on how the program is working. Glucose meters are used to self-monitor the blood glucose levels at home or clinics. At hospitals, lab analysis such as Hb1Ac, urine tests are used to monitor the levels of glucose, which are often time-consuming. According to IQ4I Research, the glucose monitoring global market is expected to grow at low single digit CAGR from 2020 to 2027 to reach $15,321.8 million by 2027.

The global rise in the prevalence and incidence of diabetes, increasing demand for less minimally invasive or non-invasive and point-of-care devices, increasing R&D investments are driving the market growth, whereas, the growing diffusion of smart devices and digital platforms increasing compliance and management of diabetes is creating opportunities in the coming years. The high cost of the products, frequent product recalls and inadequate reimbursement is restraining the market growth. The stringent regulations, privacy concerns and safety issues are threats for the market growth.

Glucose Monitoring global market is classified based on products, sample type, end-users and geography. Among the product segments, The Invasive glucose monitoring products segment accounted for the largest share in 2020 and is projected to grow at low single digit CAGR from 2020 to 2027 due to technological advancements, easy use, and reliability, etc. The invasive glucose monitoring products are further sub-segmented into self-glucose monitoring devices and continuous glucose monitoring devices, among self-glucose monitoring devices, blood glucose testing strips commanded the largest share of the market in 2020, similarly, among the continuous glucose monitoring devices, sensors commanded the largest share of the revenue in 2020.The non-Invasive glucose monitoring segment is the fastest-growing segment and is projected to grow at a high single digit CAGR from 2020 to 2027 due to an increase in R&D investments, and regulatory approvals.

Among the sample type, the blood segment accounted for the largest share in 2020 and is projected to grow at low single digit CAGR from 2020 to 2027 due to the accuracy of results. Other source-based glucose monitoring segment is the fastest-growing segment and is projected to grow at strong double digit CAGR from 2020 to 2027 due to an increase in R&D investment, increasing demand from users for non-invasive products.

Among end-user segments, the home care segment accounted for the largest share in 2020 and is projected to grow at low single digit CAGR from 2020 to 2027 due to the availability of self blood monitors over-the-counter and ease in operating these monitors and thereby reducing the frequent visit to hospitals or clinics for checking glucose levels.

In the market segmentation based on geography, North America commanded the largest market share in 2020 due to the rapid adoption of advanced technology, favorable reimbursement coverage and high investments in healthcare infrastructures that have led to the market growth in this region. However, Asia- Pacific region is expected to grow at mid single digit CAGR from 2020 to 2027 due to increasing healthcare awareness, higher economic growth, a large patient pool and rising aged population.

Various advancements in glucose detecting technologies such as wireless smart contact lenses, saliva-based biosensors and the radiofrequency sensor for CGM are under different stages of development and launch. For instance, Scientists from the Department of Materials Sciences and Engineering, Pohang University of Science and Technology (POSTECH), South Korea have developed a remotely controllable smart contact lens for non-invasive glucose monitoring and controlled drug delivery. The lens consists of five parts: a real-time electrochemical biosensor, an on-demand flexible drug delivery system (f-DDS), a resonant inductive wireless energy transfer system, a complementary integrated circuit (IC)–based microcontroller chip with a power management unit (PMU), and a remote radio frequency (RF) communication system. The biosensor in the lens detects glucose in the tears by the real-time amperometric method. The resonant inductive coupling to a copper (Cu) receiver coil allows wireless powering from an external power source with a transmitter coil. The device communicates with an external controller by RF communication.

According to IQ4I analysis, globally there were about 472.2 million people affected with diabetes in 2020, this consists of XX million Type 1 diabetes and XX million type 2 diabetes patients. However, only XX% of this population is diagnosed and are recommended to use some form of glucose monitoring device to avoid complications arising of diabetes, but due to various reason, the diabetic population fail to comply with monitoring regimen constituting about to XXmillion people. About XX% of the diagnosed population or XX million people around the world use either (XX million) continuous glucose monitoring or (XX million) self glucose monitoring device. The number of sensors used by CGM users is estimated to be XX million in 2020 and is estimated to XX million by 2027 growing at double digit CAGR from 2020 to 2027. Similarly, about XX million glucose monitoring strips were used by people using self glucose monitoring devices.

Considering the huge unmet opportunity in this market many investors are funding the development of new glucose monitoring technologies, According to IQ4I analysis, close to $XX million funding was provided starting January 2020. For instance, in March 2021, Glooko received $30.0 million in funding from Health Catalyst Capital, Canaan Partners, Georgian, Novo Nordisk, Insulet, and Mayo Clinic to accelerate the company's remote patient monitoring platform's adoption, widening commercialization of products in clinical research and expanding into additional therapy areas. Similarly, in June 2020, Medtronic received $337.0 million in funding from Blackstone Life Sciences to accelerate Medtronic's four programs in insulin pump and continuous glucose monitoring pipeline.

The glucose monitoring market is consolidated and is dominated by players such as Abbott Dexcom, Roche, LifeScan, Ascensia, Medtronic, Sinocare, and B.Braun controlling around XX% of the market, as these companies have a strong distribution network and have multiple channels to reach the patients, whereas, in CGM market is set to see several new companies entering the market with innovative products, for instance, Medtrum, a Chinese company has developed Touchcare CGM, A6 and A7+ systems which have received CE mark approval, similarly, Waveform Technologies, Inc., (Agamatrix) has developed CGM system and has been launched in select European countries in 2020 in partnership with Menarini under the brand name Glucomen.

To popularize the adoption and to fully exploit the potential of CGM systems, Time in Range (TIR) has been adopted as a new metric, which has been endorsed by American Diabetes Association (ADA), Time In Range metric explains the duration of time patients with diabetes spent within the prescribed range of 70-180mg/dL in a day to prevent any complications.

As CGM technology matures, it is finding non-diabetic use such as personal-use product for lifestyle management and as a tool to improve athlete’s performance, for instance, Abbott in September 2020, received CE approval for its world’s first sports-centric CGM, the Libre Sense Glucose Sport biosensor which is designed to continuously measure glucose levels and their performance. The Libre Sense Glucose Sport Biosensor is a consumer over-the-counter product designed for performing sports such as cycling, running, and swimming, to understand the efficacy of their nutrition choices on training and competition. To promote this product Abbott has tied up with Supersapiens, an Atlanta-based sports technology company that is focusing on providing athletes with actionable and personalized insights on real-time biometric data, starting with glucose. The product is currently available in eight European countries namely Austria, France, Germany, Ireland, Italy, Luxembourg, Switzerland, and the United Kingdom.
New companies are starting to exploit CGM technology as a lifestyle tool, for instance, the U.S.-based Levels Health is promoting the use of CGMs to make it easy for people to understand how their diet and lifestyle affect their health through their Levels app. They help the subscribed members to find their optimal diet and improve the metabolic health. To augment their efforts, In November 2020, Levels Health received $12.0 million in investments from A16Z for the development of biowearable to provide real-time feedback on how diet impacts health.

Major players in the glucose monitoring market include Abbott Laboratories (U.S.), Dexcom (U.S.), Roche (Switzerland), LifeScan (U.S.), Medtronic, Inc. (Ireland), PHC Holding (Ascensia) (Japan), B. Braun Melsungen AG (Germany), Sinocare (China), i-Sens, Inc., (South Korea), and Arkray (Japan), etc.