Diabetes is a chronic condition brought on by either insufficient insulin production by the pancreas or inefficient insulin utilisation by the body. For instance, the World Health Organization reports that diabetes was the tenth largest cause of mortality globally in 2019 and is directly responsible for an estimated 1.5 million deaths. 9 million persons worldwide have type 1 diabetes in 2017. The bulk of the approximately 422 million individuals with diabetes globally reside in low- and middle-income nations, and diabetes is directly responsible for 1.5 million fatalities annually. By 2045, the International Diabetes Federation (IDF) predicts that 700 million adults would have diabetes worldwide.
The global Continuous Glucose Monitoring (CGM) Devices Market is estimated to be valued at US$ 8,865.65 million in 2022 and is expected to exhibit a CAGR of 24.8% during the forecast period (2022-2030).
Key Companies in the Continuous Glucose Monitoring (CGM) Devices Industry :
1. Medtronic Plc.
The company was founded in 1949 and is headquartered in Dublin, Ireland. Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. On June 2022, India Medtronic Private limited, a wholly-owned subsidiary of Medtronic plc, announced the launch of CE marked fourth-generation flow diverter, Pipeline Vantage with Shield Technology for the endovascular treatment of brain aneurysms.
2. Abbott Laboratories
Abbott is a global healthcare leader in medical products and devices manufacturing. It serves people in more than 160 countries. Abbott was established in 1888. Abbott launched its Navitor its latest generation transcatheter aortic valve implantation (TAVI) system to treat Aortic Stenosis in India.
3. STMicroelectronics
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products. STMicroelectronics N.V. was incorporated in 1987 and is headquartered in Geneva, Switzerland. In December, 2022 STMicroelectronics has released high-power modules for electric vehicles that boost performance and driving range.
4. NXP Semiconductors
NXP Semiconductors N.V. offers various semiconductor products. NXP Semiconductors N.V. was incorporated in 2006 and is headquartered in Eindhoven, the Netherlands. In January, 2023 NXP Semiconductors the market share leader in automotive radar according to Yole Intelligence, announced a new industry-first 28nm RFCMOS radar one-chip IC family for next generation ADAS and autonomous driving systems.
5. Micron Technology Inc.
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
6. Texas Instruments Inc.
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. Texas Instruments Incorporated was founded in 1930 and is headquartered in Dallas, Texas.
7. Microchip Technology Inc.
Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions. Microchip Technology Incorporated was incorporated in 1989 and is headquartered in Chandler, Arizona.
8. Tandem Diabetes Care
Tandem Diabetes Care, Inc., a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. Tandem Diabetes Care, Inc. was incorporated in 2006 and is headquartered in San Diego, California.
9. Senseonics
Senseonics Holdings, Inc., a medical technology company, develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes in the United States, Europe, the Middle East, and Africa. Senseonics Holdings, Inc. was founded in 1996 and is headquartered in Germantown, Maryland.
10. Insulet Corporation
Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. Insulet Corporation was incorporated in 2000 and is headquartered in Acton, Massachusetts.
*Definition- The continuous glucose monitoring (CGM) devices give information on the diabetic patient's daily glucose levels.
