According to the latest research by InsightAce Analytic, the global smartphone-operated/next-generation glucose monitor market was valued at US$ 3.50 billion in 2021, and it is expected to reach US$ 14.91 billion by 2030, with a CAGR of 17.8% during the forecast period of 2022-2030.Glucose Monitor smartphone
Glucose monitoring devices are used to detect blood glucose levels in the body, and the next-generation continuous glucose monitors are the easiest way to manage and control diabetes. These systems provide details about medications, diseases, diet, and medicine reminders. The various features, such as real-time data analysis, low cost, and easy availability of smartphone-operated glucose monitors, will compel the growth of the smartphone-operated/next-generation glucose monitor market during the forecast period. Furthermore, factors such as the growing aging population, high prevalence of diabetes among all ages, fast adoption of innovative technologies, changing lifestyle patterns, increasing overweight & obesity among the public, demand for less invasive procedures, and increasing healthcare expenditure are expected to fuel market growth.
According to the WHO, around 3.4 billion individuals worldwide die due to high blood glucose annually. About 80% of these deaths occur in low- and middle-income countries, and almost 50% of individuals are under 70 years old. WHO also estimated that diabetes deaths will double between 2005 and 2030. Therefore, increasing cases of diabetes are anticipated to propel the demand for smartphone-operated or next-generation glucose monitors in the coming years.
However, the lack of awareness among patients about modern healthcare devices and stringent reimbursement policies for advanced systems hinder smartphone-operated and next-generation glucose monitoring market growth in the future.
North America is expected to dominate the smartphone-operated/next-generation glucose monitor market during the forecast period (2019-2030), followed by Europe, owing to the high prevalence of diabetes and the fast adoption of advanced technologies. On the other side, Asia Pacific is likely to witness significant growth in the next few years due to the growing elderly population, increasing diabetes cases, and rising innovations in glucose monitor systems.
Major market players operating in the smartphone-operated/next-generation glucose monitor market include Health Arx Technologies Pvt. Ltd (India), myDario (US), iHealth Labs, Inc (US), KETO-MOJO (US), LifeScan IP Holdings, LLC (US), Ascensia Diabetes Care (Switzerland), Glooko, Inc (US), Dexcom, Inc (US), Roche Diabetes Care (US), ForeCare, Inc (US), Informed Data Sytems Inc (US), One Drop (US), Amanda Health Inc (US, Big Foot Medical Inc (US), Pops Diabetes Care Inc (US), HealthifyMe (Bengaluru), Intruity Medical, Inc (US), Health25ync (Taiwan), myDiabby Healthcare (France), Symbiome (US), Senseonics Holdings, Inc. (US), Diabnext (France), Diabeto Medtech India Pvt (India), Biosense Technology Pvt Ltd (India), among others.
Key developments in the market: Glucose Monitor smartphone
- In October 2021, LifeScan (US), a world leader in blood glucose monitoring, launched OneTouch Solutions, an eCommerce site offering a convenient and comprehensive choice of personalized wellness programs to help people manage diabetes.
- In August 2020, Senseonics Holdings, Inc. (US), a medical technology company developing continuous glucose monitoring (CGM) systems for people with diabetes, partnered with Ascensia Diabetes Care through a commercialization and collaboration agreement. Through this collaboration, Ascensia Worldwide distributes Senseonics’ Eversense CGM systems. The Eversense brand of CGM systems is indicated for continually measuring glucose levels in persons aged 18 and older with diabetes.