The continuous glucose monitoring market, introduced nearly 20 years ago, is presently experiencing strong growth as diabetics, physicians, hospitals and clinics witness the benefits these devices can lend to the management of glucose levels. The market now includes blood glucose monitors, diabetes test strips, insulin durable and patch pumps, glucose sensors, and transmitters and receivers. The global market for continuous glucose monitoring equipment is expected to top $20.6 billion by 2022, according to a new study by BCC Research, at a five-year compound annual growth rate (CAGR) of 10.1%.
Earlier this month, BCC Research hosted an event “Connected Medical Devices: Bridging the Gap Between Wearables and Clinical Applications” in Boston, MA. BCC Research Senior editors Michael Sullivan and Robert G. Hunter discussed the future of wearable medical devices, especially those that link clinical and consumer applications. In her blog post from August 2017, Laurie Sullivan writes about one Google spin-off coming ever closer to “bridging the gap.”
Conditions such as immunodeficiency and bleeding disorders are powerful growth factors of the blood plasma industry. In a recent analysis, BCC Research found that the rising demand for immunoglobulins (more commonly known as antibodies), an integral part of the immune response, is the main driver of the global market for blood plasma products. Product launches and improvements in existing technologies are expected to expand this market from approximately $16.8 billion in 2016 to $23.0 billion by 2021.
The use of disposable medical sensors is continuously increasing, fueling a multibillion-dollar global industry. BCC Research predicts that this market will expand at a healthy double-digit growth rate worldwide, with the potential to reach $9 billion by 2022. An increase in geriatric populations all over the world will lead to more demand for continuous health monitoring devices for a larger number of diseases pertaining to cardiovascular, audiology and urology systems.