Continuous glucose monitoring system is a device used for monitoring blood glucose on a continual basis by people with either type I or type II diabetes. A continuous glucose monitor takes a reading on set intervals with a small electrode placed under the skin and held in place by an adhesive.
The first CGM system was approved by the FDA in 1999. Continued development has extended the length of time sensors can be worn, options for receiving and reading data, and settings for alerting users of high and low glucose levels.
The first iteration of the Medtronic MiniMed took glucose readings every ten seconds with average readings reported every five minutes. Sensors could be worn for up to 72 hours.
A second system, developed by Dexcom, was approved in 2006. The sensor was approved for use for up to 72 hours, and the receiver needed to be within five feet for transmission of data.
In 2008, the third model was approved, Abbott Laboratories' Freestyle Navigator. Sensors could be worn for up to five days.
In 2012, Dexcom released a new device that allowed for the sensor to be worn for seven days and had a transmission distance of 20 feet. Dexcom later introduced an app allowing data from the sensor to be transmitted to an iPhone. This system was approved for pediatric use in 2015
Global continuous glucose monitoring system market was valued at 591.72 Million US$ in 2018 and is projected to reach 1021.68 Million US$ by 2024, at a CAGR of 9.53% during the forecast period.
Diabetes is increasing worldwide at an unprecedented pace and has become a serious health concern during the last two decades. It is a major cause of mortality in the age group of 20–79 years. Based on its rapidly increasing incidence, it has been declared a global epidemic by the World Health Organization (WHO). The annual cost associated with diabetes management, i.e., US $376 billion, will increase to US $490 billion in 2030. However, the current estimates by International Diabetes Federation states 372 million diabetics in 2012 itself and predicts 552 million diabetics by 2030.
This will mean there will be rising number of hospital visits for diabetes treatment are responsible for the increasing adoption of these devices in hospitals. Complications caused due to diabetes, such as retinopathy, nephropathy, and neuropathic, require hospital admissions. Thus, hospital settings are also anticipated to capture a significant market share in the near future. Besides, homecare settings are expected to fuel the demand for CGM devices because of efficient and easy monitoring of blood glucose.
We tend to believe this industry becomes more and more mature, and the consumption increasing rate will show a smooth curve.
Key players in global continuous glucose monitoring system market include: Abbott Laboratories, Dexcom, Inc, A. Menarini Diagnostics, Echo Therapeutics, Inc, Insulet Corporation, GlySens Incorporated, LifeScan, Medtronic, Senseonics Holdings, Inc, F. Hoffmann-La Roche Ltd.