Tuesday, 14 July 2015
Growing Concerns Over Diabetes Drives The Continuous Glucose Monitoring Market
Today, Diabetes is a common, serious, expensive, growing and probably an inescapable public health issue. According to a publication by the “National Center for Chronic Disease Prevention and Health Promotion”, around 135 million people in 1995 were diagnosed with diabetes and the number would grow up to 300 million by the end of 2025. Furthermore, many risk factors are associated with the aforesaid disease such as dietary problems, obesity, insulin resistance and more health issues. Several health officials believe diabetes can be avoided in the high -risk category, but people are yet to observe the results of several clinical trials that are pending.
Meanwhile many glucose monitoring systems, the most affordably acceptable technology are undergoing a face lift worldwide. These medical devices can lower the burden of complications by early detection of diabetes. Device manufacturers are now ready to catch -up with an accurate data for continuous glucose monitoring through their inventions. In 2015, under the sensors category Dexcom became one of its kind to provide continuous glucose monitoring data from the “Apple Watch”. Product's G4 PLATINUM system needs users to just pierce underneath their skin. Users then attaches a “Bluetooth LTE” receiver that sends data to an “Apple Watch ". Some more popular product choices in the sensors category today includes CIGMS by GlySure Limited; Brian Otis's brainchild smart contact lens and Flash Glucose Monitoring System from Abbott.
Similarly, government bodies too are giving a nod to severalmonitoring technologies for people with diabetes. In one such example in January 2015 FDA had approved Dexcom mobile application for constant glucose monitoring. In a similar incident FDA in US had backed the use of “Nova StatStrip Glucose Hospital Meter System" for severely ill patient who were hospitalized. This was the first time a BGMS was approved by FDA for such patients. An article published in the “Diabetes Daily" indicates that the global sales of test-strip as well as glucose meter supplies reach over 10 million dollars each year. According to a report titled " Continuous Glucose Monitoring Market " published by Allied Market Research the CGM market is valued at $568.5 million is 2020. The report reveals that the aforementioned market would see a CAGR of 14.8 percent during the forecast period of 2012 to 2020.