InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled “Global Continuous Glucose Monitoring (CGM) Sensors Market by (Products (non-invasive sensing and minimally invasive sensing), Sensing technology (enzyme electrode, optical fluorescence, and others), End-users (hospitals and home care, specialty clinics, ambulatory settings, and others), Patient population (Children & teenagers, and adults), Sensor sites (abdomen, upper arm (implanted), back of upper arm, and other (abdomen and buttocks)) – Market Outlook and Industry Analysis 2030” According to company’s newest research, the global Continuous Glucose Monitoring (CGM) Sensors Market is worth US$ 3.6 Billion in 2021 and is predicted to reach US$ 11.7 Billion in 2028, with a promising CAGR of 18 % between 2021 and 2028.
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Diabetes is affecting an increasing number of people worldwide because of ageing populations and sedentary lifestyles. The daily management of diabetes by patients is dependent on the concentration levels in the blood, which are monitored using appropriate sensors. In recent years, the introduction of Continuous Glucose Monitoring (CGM) sensors has revolutionized glucose monitoring. CGM sensors are non/minimally invasive wearable devices that monitor glucose levels utilizing a variety of physical principles such as glucose-oxidase, fluorescence, or skin dielectric characteristics and offer real-time measurements every 1–5 minutes. In the biomedical business, continuous glucose monitoring (CGM) is an important invention. It provides essential information regarding intermittent capillary blood glucose that is generally unavailable from routine clinical blood tests. CGM offers several innovative features, including immediate and real-time blood glucose level display, “24/7” coverage, uninterrupted motion of warnings for current or approaching hypo- and hyperglycemia, and the capacity to analyze glycemic variability. By capacitating compact, comfortable, user-friendly sensor devices, CGM allows users and physicians to visualize and diagnose a more exact and precise rate of change in glucose.
The Market for Continuous glucose monitoring devices is mainly driven by the rise in the incidence of Type 1 and Type 2 diabetes, the emergence of sensor devices and the growing number of technological advancements in blood glucose monitoring devices. According to the International Diabetes Federation, the global diabetes population is expected to reach 643 million by 2030 and 783 million by 2045. Continuous glucose monitors (CGMs) for non-invasive diabetes monitoring are being created and improved all the time. Continuous glucose monitoring (CGM) devices are projected to see considerable potential during the projection period due to their growing accuracy and ease of use. Wearable technology has made substantial progress in the digital quantification of daily health with the advancement of wireless technology. The current COVID-19 epidemic is driving up demand for illness detection, prevention, and management solutions.
However, CGMs are currently relatively expensive, which could constitute a major barrier to their adoption in underdeveloped nations with high rates of prediabetes and diabetes. Furthermore, sensor life is less than two weeks, leaving room for researchers to investigate ways to extend sensor life. Development of low-cost biocompatible materials for wearables, such as paper-based materials, as well as device simplification and transducer recycling, would all help to reduce costs.
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During the COVID-19 pandemic, the Food and Drug Administration (FDA) recently published guidelines to expand the availability and capability of non-invasive remote monitoring devices. This update was intended to increase health care provider’s ability to monitor their patients while lowering their exposure to the new coronavirus. Thus, The number of new devices approved each year has also grown in recent years.
The following key companies are engaged in the Continuous Glucose Monitoring (CGM) Sensors market:
Medtronics, Abbott, Senseonics, WaveForm Technologies, Inc., Advanced Biosensors-Ohio LLC, Arkal Medical, Inc., Ascensia Diabetes Care Holdings AG, Azurite Technologies, Inc., Biorasis Inc, Biovotion AG, CALISTO MEDICAL, INC., CGM3 Ltd, ConvaTec Group Plc, Cyber Medical Ltd, Debiotech SA, DexCom Inc, DirectSens GmbH, Echo Therapeutics Inc, Ecole Polytechnique Federale de Lausanne, eLutions Integrated Systems, Inc., EyeSense GmbH, Flowsion A/S, Gili Medical Ltd, Globe Medical Tech Inc, GlucoLight Corporation, Glucometrix AG, Glucosense Diagnostics Ltd, GlucoSet AS, Glucovation Inc, GluMetrics Inc, Glusense Ltd, GlySens Inc, Glysure Ltd, G-Sense Ltd., iGlyko, Inc., Indigo Diabetes NV, Innovosens AB, Insulet Corp, Integrated Medical Sensors, Integrity Applications Ltd, Invivosense ASA, I-Sens Inc, iSense Corporation, Keratin Biosciences Inc, Kiffik Biomedical inc., LEMM Technologies, LLC, Mellitor Ltd, Metronom Health Inc, mobiLIFE, Nemaura Medical Inc, Newton Photonics Inc, Orsus Medical Ltd, PKvitality, PositiveID Corp, Prediktor Medical AS, Profusa Inc, Purdue University, San Meditech (Huzhou) Co., Ltd., Senseonics Holdings Inc, SensiVida Medical Technologies, Inc., Senzime AB, Singapore Biomicro Pte Ltd, Socrates Health Solutions, Inc., Tenax Therapeutics Inc, VeriTeQ Corporation, Vytrace, Inc., and Other Prominent Players.
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