CGM and insulin pumps market is projected to nearly double to $20.8 billion in 2033: GlobalData

GlobalData’s report, “Insulin Pumps and Continuous Glucose Monitors Market Forecast to 2033,” reveals that most of the recently approved devices, such as Abbott’s FreeStyle Libre 3 system, Insulet’s Omnipod 5, and Medtronic’s 780G, have strong digital capability that largely improves diabetic care, allowing patients to manage their blood sugar levels better than ever before

Amidst the COVID-19 pandemic, digitally enabled devices like continuous glucose monitors (CGMs) witnessed significant growth, highlighting their popularity. These devices greatly aid healthcare providers and patients in enhancing glycemic control and potentially boosting patient self-management. Against this backdrop, the CGM and insulin pumps market is projected to nearly double from $10.6 billion in 2022 to $20.8 billion in 2033, forecasts GlobalData.

GlobalData’s report, “Insulin Pumps and Continuous Glucose Monitors Market Forecast to 2033,” reveals that most of the recently approved devices, such as Abbott’s FreeStyle Libre 3 system, Insulet’s Omnipod 5, and Medtronic’s 780G, have strong digital capability that largely improves diabetic care, allowing patients to manage their blood sugar levels better than ever before.

Tina Deng, MSc, Principal Medical Devices Analyst, GlobalData comments, “There has been a trend in diabetic management that emphasizes whole-body care, not just focusing on blood sugar levels, especially for people with type 2 diabetes. Some digital applications can integrate with other health devices or wearables, such as fitness trackers, blood pressure monitors, or smart scales.

“This integration enables users to have a comprehensive view of their overall health. The huge amounts of data from electronic medical records, insulin pumps, CGMs, and other wearables, as well as evolving genomic, proteomic, and metabolomics data, can be beneficial in managing diabetes more effectively.”

To improve patient self-management, many apps offer educational resources, articles, and videos to help individuals understand diabetes, its management, and potential complications. These apps often provide forums or support groups where users can connect with peers, share experiences, and seek advice.

Apps can help individuals stay on top of their medication schedule by sending them reminders about taking prescribed medications, including insulin injections, oral medications, and other supplements. Some apps are designed to enhance patient compliance by incorporating incentives from social media and gaming features.

Digital applications often provide healthcare providers with tools to analyse the collected data, generate reports, and visualise trends in blood glucose levels, medication adherence, or lifestyle factors.

Deng concludes, “These data and insights help healthcare providers make informed decisions and adjust treatment plans accordingly. Many digital diabetes clinics were established during the COVID-19 pandemic. These virtual clinics incorporate digital patient data collected by devices and provide individually tailored suggestions and treatments to patients who were unable or unwilling to visit in person.”