Most Diabetes Patients to Use CGMs by 2026
Analysts expect 41 million cases of Type 1 and Type 2 diabetes in the United States by 2026, and most of those users will opt for CGMs.
- By David Kopf
- Aug 29, 2019
The U.S. population of Type 1 and Type 2 diabetes patients will grow from its current size of 31.7 million diagnosed cases to more than 41 million by 2026, and the majority of those patients will use continuous glucose monitors (CGMs) to manage their conditions, according to market research firm GlobalData.
Diabetes patients regularly measure their blood sugar to know whether their blood glucose is rising or falling. Moreover, following any patterns over time, is valuable information that helps patients and physicians make better, more informed treatment decisions. CGMs offer increased ease-of-use and diagnostic advantages in those regards.
Not surprisingly, many vendors and providers are looking at the untapped market potential when it comes to CGMs. For example, Dexcom, which makes the first CGM to get FDA approval, reported revenues of $1.03 billion for fiscal year (FY) 2018, an increase of 43.6 percent over FY2017. Now the company sees competition from companies such as Abbott Laboratories, Medtronic and Senseonics.
“The huge and still-expanding pool of patients represents enormous market potential,” said Ashley Young, medical devices analyst for GlobalDaa. “Smaller companies looking to break into this market should examine ways to introduce improved technology into this space to give themselves a competitive advantage over the incumbent players.”
David Kopf is the Executive Editor of HME Business and DME Pharmacy magazine. Follow him on Twitter at @postacutenews.