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Flash Glucose Monitoring System Market Segmented By Sensor and Non-sensor based technologies with Implantable and Wearable modality
A glucometer is a medical device that monitors and analyses the glucose level in the blood. A flash glucose monitoring system is not a device that delivers insulin or can correct blood glucose levels. On the other hand, flash glucose monitoring system are disease management tool.
It reads glucose levels intermittently after a set interval of time. Flash glucose monitoring system provides instant feedback allowing user to adjust and correct dietary and medical needs. For example, Abbott Freestyle Libre uses a fused sensor and transmitter and filament inside the body with a lifespan of two to four weeks sending feedbacks on receiver like smartphone to take corrective measures.
The different types of flash glucose monitoring systems come with varying features like wireless connectivity, NFC, bluetooth and waterproof device. The patients suffering from Diabetes Mellitus disease are at constant risk and need to monitor the levels intermittently.
The number of adults over eighteen years of age had a prevalence rate of 8.5% making it 422 million patients globally which has increased year-on-year with increasing sedentary lifestyle, food habits and lack of physical activities.
The global Flash glucose monitoring system market is expected to experience steady growth due to increasing prevalence of diabetic patients. According to jdrf.org data nearly 40,000 people in the U.S. are diagnosed with Type 1 Diabetes each year growing the flash glucose monitoring system market.
The cure for Type 1 diabetes is not known but insulin therapy can help manage the optimum blood-glucose levels. The changing consumer preference regarding flash glucose monitoring system is advantageous both clinically as well as economically. The technological advancements in the flash glucose monitoring system has made the acceptance of these devices easier.
The non-invasive approach of such devices is pain less and is one of the specifications that will drive an exponential growth of the flash glucose monitoring system market. The portability of these devices can be the USP for flash glucose monitoring system devices.
The wearable devices are aimed at connecting the patient with the other devices for analyzing the data generated over a period of time. The data analysis will not only help the manufacturers but also other dependent service providers involved in the value chain.
The integration of the insulin supplying devices attached to the flash glucose monitoring system devices will be an added factor for driving the flash glucose monitoring system market.
The global flash glucose monitoring system market is segmented based on the technology, distribution channel and regions.
By technology, the global Flash Glucose Monitoring System market is segmented as:
By modality, the global Flash Glucose Monitoring System is segmented as:
By distribution channel, the global Flash Glucose Monitoring System is segmented as:
By technology, sensor based glucometer is expected to be the most lucrative segment in the global flash glucose monitoring system market. By modality, wearable are expected to be the most revenue generating segment in global flash glucose monitoring system market.
By distribution channel, retail pharmacies is expected to be the most lucrative segment in global flash glucose monitoring system market owing to higher patient footfall. The other arising segment in the flash glucose monitoring system market is glucometer which can provide doses of insulin by monitoring the concentrations of glucose level in the blood intermittently.
According to the idf.org data the prevalence of diabetes in North America & Caribbean, South and Central America, Europe, Middle East and Africa, South East Asia and Western Pacific in millions is 46, 26, 67, 55, 82 and 159 respectively.
The global flash glucose monitoring system market is expected to be dominated by the North America due to higher availability of flash glucose monitoring system devices. Europe is expected to be the second most lucrative region in the flash glucose monitoring system market owing to higher adoption of the technology.
Emerging markets such as India and China show potential for market growth as they are home to the world’s largest patient population. Latin America market is expected to experience steady growth whereas MEA expected to be the least lucrative flash glucose monitoring system market due to lower adoption.
The flash glucose monitoring system market will experience more collaborations, mergers and acquisitions keeping in mind the entry barriers depending on the various regions as well as a stiff competition in the regions where the availability of competitors is more in flash glucose monitoring system market.
The key participants operating in the global flash glucose monitoring system market are Dexcom Inc., Abbott, Novo Nordisk A/S, Medtronic plc, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, ForaCare Inc., OMRON Healthcare India Pvt Ltd, B. Braun Medical Inc, Integrity Applications, Tandem Diabetes Care, Bigfoot Biomedical and others.