India Continuous Glucose Monitoring (CGM) Market is expected to register a CAGR of above 17% during the forecast period (2021 - 2026). In India, diabetes is the fastest growing health condition, and the country has a significant population with high diabetes condition. The rising prevalence of diabetes and obesity, growing awareness regarding diabetic care, concern over healthcare expenditure, and technological advancements are a few factors that are further driving the market studied. In India, close to 25% of Type 1 diabetes patients use CGM devices. It is expected that close to 50% of Type 1 diabetes patients may use continuous glucose monitoring devices, during the forecast period. The prevalence of diabetes is increasing among all age groups in India, which can be attributed to the increasing obese population, along with rapid urbanization, sedentary lifestyles, unhealthy diets, tobacco use, increasing life expectancy, and physical inactivity. Due to these factors, the prevalence of Type 2 diabetes mellitus (T2DM) increased significantly.
Key Market Trends
Increasing Diabetes Prevalence in India Generating Demand for CGM Devices in 2020
In India, close to 25% of Type 1 diabetes patients use CGM devices. It is expected that close to 50% of Type 1 diabetes patients may use continuous glucose monitoring devices, during the forecast period. Youths are at the risk of developing diabetes at a younger age, due to the sedentary lifestyle. The prevalence of diabetes in adults is around 9%. Diabetes affects the quality of life, shortens life expectancy, and increases healthcare costs of the society. Hence, the demand for continuous glucose monitoring devices is on the rise and its adoption rate is also increasing. These factors are expected to drive the market studied.
Sensors Accounted for the Highest Market Share in India Continuous Glucose Monitoring (CGM) Market in 2020
In 2020, the sensors segment in India accounted for 69.3% of the market share and is anticipated to register a CAGR of 17.48% during the forecast period (2021 - 2026). The sensor device is a tiny electrode that measures glucose levels in diabetes patients. The sensors continuously measure the glucose levels in the body through a small filament that is inserted under the skin and records the glucose levels. Within 5 seconds the users can download the data stored in sensors. In India Continuous Glucose Monitoring Devices Market we have considered the FreeStyle Libre Pro sensor (14-days working), Dexcom’s G4 Sensor (10-days Working), Medtronic’s Guardian sensor (7-days Working) and Fluorescence sensor.
Competitive Landscape
The India Continuous Glucose Monitoring (CGM) Market is highly consolidated. There have been constant innovations driven by manufacturers to compete in the market. The major players, such as Abbott and Medtronic, have undergone many mergers, acquisitions, and partnerships, to establish market dominance. For instance, in January 2019, Eris Lifesciences and Medtronic PLC made a collaboration for diabetes monitoring devices in India. Medtronic PLC announced its plan to introduce its latest US FDA-approved Guardian Connect device in India.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abbott Diabetes Care Inc.
- Dexcom Inc.
- Medtronic PLC
Methodology
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