The Global Artificial Intelligence in Diabetes Management Market is estimated to be worth USD 590.32 million in 2022, and is expected to reach USD 2,235.15 million by 2027, growing at a CAGR of 30.51%.
Metabolic testing devices are medical devices used to screen organ functions and disease conditions such as liver diseases, diabetes, kidney diseases, and cardiovascular diseases. Technologies involved in metabolic testing include VO2 (the amount (volume) of oxygen your body) Max analysis, RMR(Resting metabolic rate) analysis, and body composition analysis.
The Continuous Glucose Monitoring (CGM) Market is expected to register a CAGR greater than 13% over the forecast period, 2022-2027. Governments around the world developed programs to educate diabetes patients and health care providers about the usage of continuous glucose monitoring devices. The German government provides training through Diabetes Care and Education Specialists under the names Flash, Spectrum, and other programs to train diabetes patients as well as other health care providers on how to use continuous glucose monitoring devices. A study in Korea conducted by the Korean Association of Diabetes Nurse Educators stated that the diabetes education program on how to use the Continuous Glucose Monitoring Devices increased the usage of devices.
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The glucose biosensors market size is estimated to be USD 13,200 million in 2021 and is expected to witness a CAGR of 14.45% during the forecast period 2022-2029. The globally increasing self-monitoring device demand, modernizations in glucose biosensor technology, and a growing proportion of people worldwide developing diabetes are some of the primary market drivers. However, the strict regulatory framework and the high price of glucose biosensors are expected to restrain the market growth.
The insulin delivery devices market 2030 revenue will likely be $39,371.8 million, compared to an estimated $16,008.0 million in 2021. Among all the devices used for administering this peptide hormone into the body, insulin pens are used the most. Pens are easier to use by individuals on themselves compared to syringes and cheaper compared to insulin pumps and other devices.
A new study published in The New England Journal of Medicine finds that for adults with Type 1 diabetes and sub-optimal glycemic control, Abbott's FreeStyle Libre® 2 glucose monitoring system provided significant reductions in glycated hemoglobin (HbA1c) compared to self-monitoring of blood glucose (SMBG), which were sustained for the study duration of 24 weeks.1 Use of the FreeStyle Libre 2 system was also linked to improvements in participant-reported quality of life outcomes, including overall satisfaction and reduction in burden associated with glucose monitoring.
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Analysts see a new proposed local coverage determination (LCD) from CMS as a potential boost for Dexcom (Nasdaq:DXCM) and Abbott (NYSE:ABT).
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DexCom, Inc. (Nasdaq: DXCM), the global leader in instant continuous glucose monitoring for people with diabetes, announced today that the Dexcom G7 Continuous Glucose Monitoring The (CGM) system is now available in the UK, Ireland, Germany, Austria and Hong Kong for people with diabetes aged two and over. This marks the first major milestone on the supply side of this revolutionary new technology. The company is also moving fast to bring the G7 to New Zealand and South Africa in the coming weeks, with plans to launch in other markets soon.
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Ascensia Diabetes Care, a global diabetes care company, maker of the CONTOUR® blood glucose monitoring (BGM) system portfolio and exclusive distributor of Eversense® Continuous Glucose Monitoring (CGM) Systems, announces that it has successfully completed the initial European launch of the next-generation Eversense® E3 CGM System. The unique benefits of this fully-implantable, long-term CGM system are now available to people with diabetes in all launch markets across Europe, as planned.
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BIOCORP, a French company specialized in the design, development, and manufacturing of innovative medical devices, and Merck KGaA, Darmstadt, Germany, a leading science, and technology company, have entered into an agreement for the development and supply of a specific version of Mallya device as an accessory for one of Merck KGaA, Darmstadt, Germany's drug delivery devices.
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