Impact of COVID-19 to Notably Influence Continuous Blood Glucose Monitoring Market

Mon, 30 November 2020 4:40

The demand for continuous glucose monitors (CGM) is rising. People with diabetes are among the most vulnerable to severe complications caused by COVID-19. During the COVID-19 pandemic, there has been more preference for the use of virtual clinics and telemedicine to monitor diabetics. For example, the UK's National Health Service revised its clinical guidance to promote remote contacts through mobile, email, and video conferencing. This has contributed to increased demand for apps for diabetic treatment, which can exchange data remotely.

With CGM tools, there are considerably more data available, which can help patients and healthcare providers enhance glycemic control and eventually increase patients' self-management. CGM's increasing demand is driven mainly by growing product awareness and rapid responses from companies to the COVID-19 pandemic. Both Dexcom and Abbott have been given FDA clearance to make available CGM systems for use in hospital settings and other health care facilities. Health Canada recently announced the Dexcom G6 CGM program's provisional authorization for the expanded use of Canadian hospitals.

Remote monitoring of patients with diabetes with CGM devices will help minimize healthcare providers' exposure and conserve personal protective equipment. Along with the insulin giants Novo Nordisk and Eli Lilly, CGM firms have launched new patient aid services to help existing CGM patients who have lost insurance due to the US COVID-19 pandemic. Dexcom has reduced its CGM costs for its current, eligible patients to USD 45 per 90-day supply. The pandemic has increased demand for the establishment of electronic blood glucose records for diabetes patients. COVID-19 has opened up new possibilities for CGM systems to gain popularity in the diabetic care brand.

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Market Highlights

  • The global continuous blood glucose monitoring market was valued at USD 4,165.97 million in 2019 and is expected to grow at a CAGR of 12.3% during the forecast period.
  • Based on the product types, sensors accounted for the largest revenue share in terms of the market revenue. Repeat purchase of the sensors instead of other components like receivers and transmitters is one of the key factors for the largest market share. However, combined insulin pumps with continuous glucose monitoring represent lucrative market opportunities.
  • Based on the end-user, the home care segment is expected to grow with the fastest CAGR. Increasing adoption of continuous glucose monitoring in homecare is driving the adoption in the homecare segment.
  • Regionally, in terms of revenue, North America is the largest contributor in terms of the market size. 
  • The market is consolidated with the presence of players like Abbott, Dexcom, and Medtronic. New product developments and investments in R&D are the major strategies adopted by these market players.

Continuous Blood Monitoring Market Segmentation

By Product

  • Transmitter
  • Receiver
  • Sensor
  • Insulin Pump

By End-User

  • Hospitals and Clinics
  • Homecare
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America and the Caribbean
  • The Middle East and Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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