Continuous glucose monitors (CGMs) represent a cutting-edge class of medical devices utilized in the management of both type 1 and type 2 diabetes.
CGMs serve as either a substitute for or a complement to traditional blood glucose monitoring, which entails using a blood glucose meter and conducting a small blood draw.
Rapid Growth and Innovation in the CGMs Market
GlobalData’s Marketed Products database unveils a total of 97 products in the CGMs category, with the vast majority comprising traditional CGMs and only a few implantable sensors. Furthermore, an additional 133 products are currently in various stages of development or awaiting approval, according to GlobalData’s pipeline products database. This data underscores the rapid expansion of this market segment, which serves as a fertile ground for groundbreaking innovations, such as implantable CGMs.
According to David Beauchamp, Medical Analyst at GlobalData, “Typically, CGMs are compact devices applied to the skin using an applicator, a process that patients can easily perform at home. Most contemporary CGMs no longer necessitate calibration through blood draws, streamlining diabetes management. However, these devices typically require replacement every one to two weeks, which may pose a challenge for some patients.”
In contrast, implantable CGMs represent a newer advancement in the market. These sensors are implanted beneath the skin via a surgical procedure. Notably, implantable CGMs offer extended longevity, providing accurate blood glucose readings for up to six months, surpassing the accuracy levels of traditional CGMs.
Beauchamp concludes by highlighting, “CGMs constitute a rapidly evolving and highly innovative segment within the diabetes care market. The technology underpinning these devices has undergone significant advancements in accuracy and sophistication in recent years, with several major medical device companies entering the fray. While implantable CGMs have yet to secure a significant market share, the promise of a long-term, highly accurate CGM has the potential to disrupt the existing market landscape.”
Source-Medindia
