The FDA has approved over-the-counter continuous glucose monitors (OTC CGMs) from Dexcom and Abbott, which are designed for individuals aged 18 and older who do not use insulin. The approvals are expected to enhance market penetration and accessibility. The availability of OTC CGMs is expected to have a dramatic effect on the overall health and well-being of the broader population. Against this backdrop, the global market for OTC CGMs is expected to reach $5.1 billion in 2033, according to GlobalData.
Tina Deng, Principal Medical Devices Analyst at GlobalData, states, “The market potential for OTC CGMs is significant, mainly driven by the 97.6 million Americans with prediabetes in the US. OTC CGMs are particularly beneficial for people with type 2 diabetes or prediabetes who are managing their condition with lifestyle changes or oral medications.”
OTC CGMs are transformative not only for individuals with diabetes but also for those seeking to monitor their glucose levels for overall health and wellness. By providing an accessible and user-friendly solution, these devices empower more people to manage their health proactively, leading to improved health outcomes and a reduction in diabetes-related complications on a global scale.
“OTC CGMs provide a holistic wellness solution and can be a valuable tool for managing glucose levels and improving overall health outcomes. With the FDA approvals and more clinical research outcomes, the market for OTC CGMs is expected to grow significantly,” adds Deng.