The Global Glucose Monitoring Device is expected to witness a rising demand on account of increasing prevalence of diabetes on a global level. Technological advancements and excessive research and development are expected to boost the global market for diabetes rugs and devices. Constant improvements in the self-monitoring blood glucose (SMBG) devices are sailing the market growth high owing to its ability to provide accurate results, durability, functionality, portability and easy usage quality. Physiological factors including genetic predisposition and obesity are the key factors causing diabetes which are expected to drive the industry.
Healthcare is shifting towards an accuracy based model of personal care. Self-care medical devices help the patients to manage irregular chronic and acute illnesses. Increasing diabetic patient population coupled with rising awareness is expected to accelerate the progress of the self-care medical devices industry shortly. Increasing demand for home-based treatment and self-medication on account of being self-sufficient will propel growth. Chronic illness including blood pressure, diabetes asthma and cardiovascular diseases require regular and continuous monitoring for a lifetime which will increase the demand for the product.
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The diabetes devices market is segmented into diabetes monitoring devices and insulin delivery devices. Key diabetes diagnostic and monitoring devices include an analog glucose meter, lancets and lancing devices, glucose test strips and continuous glucose monitoring devices. Test strips are expected to be the leading segment coupled with continuous glucose monitoring devices. Insulin delivery devices include insulin pumps, insulin pens, and insulin syringes. Insulin pens, followed by syringes are expected to grow which in turn will stimulate the demand for the product in the next seven years. Segmentation for these continuous glucose monitoring systems (CGMS) includes major brands and devices, FreeStyle Navigator, Guardian Real Time CGM System, MiniMed Paradigm Revel Veo System and Dexcom G4 Platinum Dexcom Seven Plus CGM System. Guardian real-time CGM and Dexcom seven plus CGM systems and system are observed to be leading the CGM sector on a global level from the last few years.
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