The global blood glucose monitoring devices market is expected to exceed $7bn by 2022, driven by the smaller, but fastest-growing continuous glucose monitoring (CGM) segment, which is expanding at double-digits. The much bigger blood glucose meter (BGM) segment, meanwhile, is facing increased competition from lower-cost manufacturers, innovative startups and tech giants like Apple that are attracting consumers with smart devices and packaged diabetes management solutions. This first of a two-part series looks more closely at the competitive landscape of the two major product segments – BGM and CGM – with insights from endocrinologists. The second part will focus on the pros and cons of using diabetes management apps and highlights the best diabetes apps.
The demand for blood glucose monitoring devices continues to rise amid the growing aging population, rising diabetes population and pressure to cut health-care costs. The diabetes population, estimated at roughly 425 million adults worldwide, is expected to reach 629 million by 2045, according to the International Diabetes Federation (IDF).
The global economic burden of diabetes management for adults reached $727bn in 2017 -- 12% of the total health-care costs spent on adults worldwide last year, according to the IDF....
