Albany, NY -- (SBWIRE) -- 04/17/2018 -- Global Glucose Management Systems Market: Snapshot
Glucose management systems have been revolutionary to monitor blood glucose level for individuals with hypoglycemia, hyperglycemia, Type I and Type II diabetes. Glucose management systems have been instrumental for the proper management of diabetes, which if not properly managed can lead to complications related to permanent brain damage and even death.
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Glucose management system is an instrument to monitor and manage blood glucose level of patients. The glucose management system computes the amount of intravenous insulin that is needed to maintain blood glucose level. The system does so by adapting to individual insulin, which may even be fluctuating requirements of a patient.
Glucose management system functions with the help of managed doses of glucose and a software system. The system comprises of automated insulin delivery to patients and digital recording of insulin data. The software in the system provides a recommendation for a personalized insulin dose for intravenous and subcutaneous delivery with the help of more than 60 algorithms. The recording mechanism of the system stores data pertaining to blood glucose level for a large timeframe, and can be used to plot a graph.
The glucose management system market is driven by the rising incidence of diabetes and growing attempts by public and private entities for proper diabetes management. The use of glucose management system is gaining traction as they are suitable for any inpatient hospital setting, which includes critical, intensive, med-surg, and pediatric care. This is because 30-50% of hospitalized patients require a diagnosis for diabetes, prediabetes, or hyperglycemia.
Glucose management system, also known as diabetes management system, is a tool to control and manage blood glucose level of patients with the help of managed doses of glucose and in-patient software system. The glucose management system calculates the dose of intravenous insulin required to maintain blood glucose level. It adapts to the individual's need of insulin, even to meet the fluctuating requirements of a patient. The system consists of automated delivery of insulin to a patient and recording of the insulin data digitally. The recording system stores hundreds of results at a time, and can be transferred to a computer to plot a graph. The glucose management system has revolutionized the process to control body glucose level in cases of hypoglycemia, hyperglycemia, and type I & II diabetes.
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Rising attempts by public and private players for cost saving and increasing prevalence of diabetes globally are the major factors projected to drive the glucose management systems market during the forecast period. However, declining reimbursement rates in developed countries such as the U.S. and low adoption of digital health care facilities in the emerging economies are expected to restrain the glucose management systems market during the forecast period.
The global glucose management systems market has been segmented based on technology type, and end-user. In terms of technology type, the market has been divided into data management system, insulin delivery system, and combined system. The insulin delivery system segment accounted for the largest market share in 2016, attributed to rising incidence of hypoglycemia and hyperglycemia, and increasing demand for technologically innovative glucose management tools by patients. However, the data management system segment is expected to expand at the highest CAGR during the forecast period, owing to lowering of laboratory and pharmacy costs. The precision and accuracy of the insulin delivery system are the major factors expected to boost the growth of the segment.
Based on end-user, the global glucose management system has been classified into hospitals, clinics, and home care settings. The hospitals segment accounted for the largest market share in terms of revenue in 2016. Dominance of the hospitals segment is attributed to integration of insulin delivery system and data management software, and financial and clinician benefits to patients and physicians. However, the home care settings segment is expected to expand at a high CAGR during the forecast period, owing to the cost-saving attained by glucose management system and miniaturization of the insulin delivery system by manufacturers. Rising need and demand for high-tech diabetes care solutions and customer centric approach of manufacturers for developing the glucose management solutions are expected to be the major drivers of the hospitals and clinics segments during the forecast period from 2017 to 2025.
Geographically, the global glucose management systems market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the global market in terms of revenue in 2016, attributed to rising per-capita expenditure of the population on health care and incorporation of wireless technology in the diabetes care sector by manufacturers. Technological advancements in the data management system to monitor blood glucose level and rising customer adoption for the same are the major factors likely to fuel the growth of the market in Asia Pacific during the forecast period. However, North America is expected to continue to dominate the global glucose management system market from 2017 to 2025, owing to rising investments by public and private players in the health care sector in emerging economies.
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Key players in the global glucose management system market are F. Hoffmann-La Roche AG, Monarch Medical technologies, Animas Corporation, LifeScan, Inc., Johnson & Johnson, DarioHealth Corp., Abbott, Senseonics, and Dexcom, Inc., among others.
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