Flash Glucose Monitoring Market Modality (Wearable, Implantable); Application (Type 1-Diabetes, Type 2-Diabetes); Technology (Non-Sensor Based, Sensor Based); End-user (Hospitals, Clinics, Academic & Research Institutes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 427
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Flash Glucose Monitoring Market size is poised to cross USD 26 Million by the end of 2033, growing at a CAGR of 9% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of flash glucose monitoring was over USD 13 Million. The growth of the market is primarily attributed to the rising adoption of wearable healthcare devices across the globe. For instance, in 2022, approximately 335 million consumer wearable health and wellness devices are expected to ship globally; by 2024, that number is expected to rise to almost 450 million units.

Flash glucose monitoring system consists of two major components; a sensor which is wore just underneath the skin and a reader which is when waved over the sensor, it displays glucose level of the body. This continuous glucose monitoring (CGM) system is able to store data of individual’s blood sugar or blood glucose level and individuals are able to see and check any time just by scanning the scanner with reader device. Further, this flash glucose monitoring is a very efficient tool to maintain proper blood sugar level on a daily basis. Furthermore, flash glucose monitoring is very helpful to maintain glucose level of the body of those individuals who are suffering from diabetic disease. Therefore, the significantly growing prevalence of diabetes is fueling up the growth of the flash glucose monitoring market. As per the data provided by the World Health Organization (WHO), presently, there are approximately 422 million diabetics worldwide, and diabetes is one of the leading cause of 1.5 million yearly fatalities.


Flash Glucose Monitoring Market
Get more information on this report: Request Free Sample PDF

Flash Glucose Monitoring Sector: Growth Drivers and Challenges

Growth Drivers

  • Worldwide Rising Incidences of Chronic Diseases - Chronic diseases are medical terms that occur themselves over time. It is regarded as the costliest and widespread health-care problem around the world. Currently, people are suffering from several chronic diseases which have been affecting the physical condition and a wellness level of life of the millions of people. Diabetes, chronic obstructive pulmonary disease, cardiac diseases are all comes under the chronic diseases, thus, increasing stances of chronic diseases throughout the world is leading the growth of the flash glucose monitoring market. For instance, chronic disease occurrence had increased globally around 60% by the end of 2020.
  • Growing Improvement in Glycemia in Higher Risk Patients with the Use of Flash Glucose Monitoring – For instance, it was observed in a research, the use of a flash glucose monitoring device for the first 15 days and over 6 months revealed that the improvement in dysglycemia occurred primarily in the first month of device usages. When the first and last 14 study days were compared, high-hyperglycemic-risk individuals reduced their time >240 mg/dL (meanSEM) from 6.070.06 to 5.730.09 hours/day (p0.0001). High-frequency scanners displayed a reduced hyperglycemia by 0.82 hours per day (p0.0001).
  • Rising Trend of Using IoT for Monitoring Patients Health - For instance, around 82% of healthcare facilities and 65% of patients want to utilize remote patient monitoring systems as a part of their medical treatment.
  • Worldwide Increase in Long-Term Care for Geriatric Population - For instance, seniors over the age of 66 in the United States have a nearly 73% chance of eventually needing long-term care services.
  • Upsurge in Virtual Connectivity - For instance, presently there are around 6 billion internet users worldwide.

Challenges

  • Overloaded Data Issue with Flash Glucose Monitoring
  • Skin Irritation Caused by Flash Glucose Monitoring Systems
  • Lack of Sufficient Reimbursement for Flash Glucose Monitoring Systems

Flash Glucose Monitoring Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

9%

Base Year Market Size (2022)

 USD 13 Million

Forecast Year Market Size (2033)

 USD 26 Million

Get more information on this report: Request Free Sample PDF

Flash Glucose Monitoring Segmentation

End-user (Hospitals, Clinics, Academic & Research Institutes)

The global flash glucose monitoring market is segmented and analyzed for demand and supply by end-user into hospitals, clinics, academic & research institutes, and others. Amongst these, the hospitals segment is anticipated to capture the largest market size over the forecast period owing to the growing healthcare infrastructure, rising number of diabetic patient’s visits to hospitals, and escalating healthcare expenditure. According to data from the World Bank, worldwide healthcare spending increased by 9.83% in 2019.

Our in-depth analysis of the global flash glucose monitoring market includes the following segments:

         By Modality

  • Wearable
  • Implantable

        By Application

  • Type 1-Diabetes
  • Type 2-Diabetes

        By Technology

  • Non-Sensor Based
  • Sensor Based

        By End-User

  • Hospitals
  • Clinics
  • Academic & Research Institutes
  • Others

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Flash Glucose Monitoring Industry - Regional Synopsis

Regionally, the global flash glucose monitoring market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the changing lifestyle, rising prevalence of obesity, rising healthcare expenditure, and increasing cases of diabetes in the region. As per the Centers for Disease Control and Prevention (CDC), the total number of people in United States who have been suffering from diabetes has reached 37.3 million by the January 2022.

Research Nester
Flash Glucose Monitoring Market-Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Flash Glucose Monitoring Landscape

top-features-companies
    • Novo Nordisk A/S
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • DexCom, Inc.
    • GlySens Incorporated
    • Medtronic plc
    • Insulet Corporation
    • Ypsomed Holding AG
    • F. Hoffmann-La Roche Ltd
    • Abbott Laboratories
    • Tandem Diabetes Care, Inc.
    • ForaCare, Inc.

In the News

  • DexCom, Inc. announced the its new device-ONE Continuous Glucose Monitoring System, is slated for release in United Kingdom in this May. In the UK, Dexcom ONE is estimated to be a more affordable and accessible real-time CGM (rt-CGM) system for people with diabetes.
  • Novo Nordisk A/S announced that Ozempic 2.0 mg has been approved by the US Food and Drug Administration (FDA). Ozempic has now been approved for treating type 2 diabetes in adults at doses of 0.5 mg, 1.0 mg, and 2.0 mg in the United States.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 427
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Worldwide rising incidences of chronic diseases, and growing improvement in glycemia in higher risk patients with the use of flash glucose monitoring, are some major factors driving the growth of the market.

The market is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023-2033.

Overloaded data issue with flash glucose monitoring, skin irritation caused by flash glucose monitoring systems, and lack of sufficient reimbursement for flash glucose monitoring systems are estimated to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Novo Nordisk A/S, DexCom, Inc., GlySens Incorporated, Medtronic plc, Insulet Corporation, Ypsomed Holding AG, F. Hoffmann-La Roche Ltd, Abbott Laboratories, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by modality, application, technology, end-user, and by region.

The hospitals segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Flash Glucose Monitoring Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying