Continuous Glucose Monitors Driving Diabetes Technology Market Growth, Says IDTechEx
BOSTON, April 11, 2022 /PRNewswire/ — IDTechEx recently published “Diabetes Management Technologies 2022-2032: Markets, Players and Forecast‘, a market research report exploring technical, regulatory and business drivers of the Diabetes Management Devices industry which has witnessed major changes over the past decade. The billion-dollar test strip industry has been in decline since 2010, while CGMs have been steadily growing. By 2032, IDTechEx predicts that the test strip industry will represent only 6.7% of the overall diabetes management device market, down from a peak of 63.4% in 2010.
Although CGMs have been a major focal point, many notable innovations have occurred throughout the industry. This includes the growing importance of insulin patch pumps and digital health initiatives, the growing automation of hybrid closed-loop systems on the way to full closed-loop, and the implementation of sensors in shoes to the detection of foot ulcers, among others.
In particular, the development of closed-loop systems has attracted a lot of interest recently: these systems have the potential to fully automate the process of diabetes management, thereby improving patient outcomes. As such, the commercial launch of such a system could potentially expand a largely saturated insulin infusion pump market. This has seen a wave of partnerships in recent years between insulin pump manufacturers such as Tandem Diabetes Care and Insulet with leaders CGM Abbott and Dexcom for the development of hybrid closed-loop systems. In this report, we discuss the development and timing of these opportunities, along with an analysis and forecast of what impact it will have on the Insulin Delivery industry over the next decade. . The growing connectivity of management devices, such as the development of smart insulin pens, CGMs, and connected blood glucose meters, has also paved the way for digital health to start expanding services in the diabetes management market.
The new report from IDTechEx, “Diabetes Management Technologies 2022-2032: Markets, Players and Forecast“, examines in detail the glucose sensor, digital health and insulin delivery industries. These include test strips, CGMs, non-invasive glucose monitors, insulin pens, insulin pumps, closed-loop systems and the artificial pancreas, with the market outlook on the Other alternative insulin technologies, such as non-invasive insulin delivery systems and glucose-sensitive insulin , are also considered.In addition, innovations for the management of complications of diabetes and other advanced therapies such as islet transplants are also considered.This report analyzes the technological and competitive landscapes, identifies and reviews over 100 companies and research institutes ranging from industry leaders to start-ups. It identifies key players in each sector as well as partnership ecosystems across multiple industries, as well as the market outlook for each industry over the next 10 years. The report also includes several company profiles on b Both major players and start-ups in a range of industries, with many of these profiles including information obtained from high-level executives within each company.
The report includes many product examples in each industry to help readers understand the current state of technology. Technical details of the products have been included in the report, with information obtained through a combination of primary and secondary research. Challenges to market development, such as regulatory and technological barriers, are presented and discussed.
Finally, the report includes a 10-year market forecast for the future of the Diabetes Management Devices industry, with forecasts produced separately for each industry. Considerations of major milestones such as the launch of complete closed-loop systems and non-invasive glucose monitors are also included in the forecast, along with discussions of methodology for each. Based on IDTechEx’s technical and industry analysis, Diabetes Management Devices Market revenue is expected to reach over $28 billion by 2032.
To learn more about IDTechEx’s technical and trade analysis of Diabetes Management Devices industry, please visit “Diabetes Management Technologies 2022-2032: Markets, Players and Forecast“. This report is part of the IDTechEx health research portfolio.
IDTechEx guides your strategic business decisions through its research, subscription and advisory products, helping you take advantage of emerging technologies. for more information contact [email protected] or visit www.IDTechEx.com.
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