Continuous glucose monitors, insulin pumps mkt to reach $20.8 bn in 2033

Continuous glucose monitors (CGMs) and insulin pumps market is projected to nearly double to $20.8 billion in 2033 from $10.6 billion in 2022, according to a report on Tuesday.

The report by GlobalData, a leading data and analytics company, showed that amidst the Covid-19 pandemic, the digitally enabled CGMs witnessed significant growth, increasing their popularity.

These devices greatly aid healthcare providers and patients in enhancing glycemic control and potentially boosting patient self-management.

The report showed that most of the recently approved devices, such as Abbott’s FreeStyle Libre 3 system, Insulet’s Omnipod 5, and Medtronic’s 780G, have strong digital capability that largely improves diabetic care, allowing patients to manage their blood sugar levels better than ever before.

“There has been a trend in diabetic management that emphasises whole-body care, not just focusing on blood sugar levels, especially for people with Type 2 diabetes. Some digital applications can integrate with other health devices or wearables, such as fitness trackers, blood pressure monitors, or smart scales,” said Tina Deng, Principal Medical Devices Analyst at GlobalData, in a statement.

“This integration enables users to have a comprehensive view of their overall health. The huge amounts of data from electronic medical records, insulin pumps, CGMs, and other wearables, as well as evolving genomic, proteomic, and metabolomics data, can be beneficial in managing diabetes more effectively,”Deng added.

To improve patient self-management, many apps offer educational resources, articles, and videos to help individuals understand diabetes, its management, and potential complications.

These apps often provide forums or support groups where users can connect with peers, share experiences, and seek advice.

Apps can help individuals stay on top of their medication schedule by sending them reminders about taking prescribed medications, including insulin injections, oral medications, and other supplements.

Some apps are designed to enhance patient compliance by incorporating incentives from social media and gaming features. Digital applications often provide healthcare providers with tools to analyse the collected data, generate reports, and visualise trends in blood glucose levels, medication adherence, or lifestyle factors.

“These data and insights help healthcare providers make informed decisions and adjust treatment plans accordingly. Many digital diabetes clinics were established during the Covid-19 pandemic.

These virtual clinics incorporate digital patient data collected by devices and provide individually tailored suggestions and treatments to patients who were unable or unwilling to visit in person,” Deng said.