This announcement provides another useful treatment option for diabetic patients requiring insulin therapy and who wish to utilize continuous glucose monitoring, says data and analytics company GlobalData.
GlobalData forecasts that the diabetes market in the US is expected to grow at a compound annual growth rate (CAGR) of 5.35% between 2021 and 2025, increasing to approximately $11.6 billion by 2025.
The research reveals that Abbott and Tandem Diabetes Care have a combined 45 devices currently on the diabetes market, of which 22 are continuous glucose monitors or insulin pumps.
David Beauchamp, Medical Analyst at GlobalData, comments: “Growth in the diabetes market is precipitated by new diagnoses and technologies developed by companies such as Abbott and Tandem Diabetes Care. Major growth areas include insulin delivery and glucose monitoring systems, which both companies provide to diabetic patients. The integration of their devices can lead to greater control over blood glucose levels and prevent complications arising from high or low blood glucose levels.”
Ensuring proper management of blood glucose levels is a vital component of diabetes care, especially for those requiring insulin therapy.
Insulin pumps as a standalone treatment can already lead to better glucose control through more exact measurement and easy-to-administer insulin, and integrating continuous glucose monitors such as the FreeStyle Libre 2 Plus promises to further enhance patients’ ability to control their blood glucose levels through 24/7 monitoring and early warning of high or low blood glucose levels.
Beauchamp concludes: “The use of insulin pumps and continuous glucose monitors together provides a closed-loop solution for insulin therapy that promises to significantly improve blood glucose control in patients. Ensuring future compatibility between the various insulin pumps and continuous glucose monitors currently on the market will provide additional options for diabetic patients to better manage their blood glucose levels and prevent complications from poor glucose control.”