By the end of 2016, the number of diabetics worldwide will pass the half a billion mark. Diabetics need to frequently monitor their blood sugar or blood glucose levels in order to prevent the disease from causing greater harm. In the United States, the average diabetic spends US$8650 a year just on these diabetic treatments. Traditionally, this manifested itself by users pricking their several times a day with lancing devices in order to get a drop of blood that can be tested with a glucose meter. Wearable wireless devices are currently on the market though that ease this process for diabetics. Continuous glucose monitors (CGM) and insulin pumps help measure glucose levels from fluid under the skin. The readings from CGMs can then be used to advise the diabetic what course of action to take, or in the case of emergencies, can be sent immediately to healthcare providers.
Currently, mHealth CGM devices are being primarily used in the North American and European markets. There will be increasing opportunities in emerging markets as the number of diabetics throughout Asia, Africa, and the Middle East continues to rise and places a rising burden on regional healthcare systems. This presents an enormous market opportunity for companies to create more efficient treatment devices, in terms of both ease of use and cost, that will help diabetics to properly manage their condition.
This analysis examines progress and development in the diabetes wearable device market and the adoption of these devices and platforms. Leading device manufacturers are profiled along with progress they are expected to make over the next five years and beyond. The analysis suggests what difficulties there are with the adoption of these devices and what future devices will be available to help treat the nearly half a billion diabetics worldwide who will have the disease by 2021.