Diabetes monitoring and treatment has been a hot topic in the healthcare sector recently. The prevalence of diabetes globally cannot be denied. According to the World Health Organization (WHO), over 422 million people in the world have Type 1 or Type 2 diabetes, and that number continues to rise. (For some background reading on diabetes, check out this PackTalk article.)
MedTech Dive interviewed key leaders and analysts in the diabetes industry for their outlook through 2023. While each of these leading voices has a unique perspective and background, they all echoed many of the same themes.
Perhaps the most significant prediction for the near future is the expected impact of the recent proposal by the Centers for Medicare and Medicaid Services, which would increase affordable access to Continuous Glucose Monitoring (CGM) technology. The direct impact if this proposal comes to life is remarkable, but the ripple effect as private commercial insurers adopt similar policies will have an even larger impact on the market. In her interview with MedTech Dive, Marie Thibault, analyst at BTIG, estimates that an additional 3 million patients in the U.S. alone would gain access to this technology to monitor their condition.
Recent reports estimate that there are approximately 2.4 million patients utilizing CGM technology in the U.S. today. If these policy change proposals take effect, the U.S. market for CGM could more than double over the next several years. To prepare for this possible impact on the market, companies like Abbott, Dexcom, and Medtronic are already ramping up their sales force to begin educating primary care physicians.
The excitement in this field goes beyond the near future. From the ability to monitor ketones in addition to blood sugar in one reading, to seamless integrations with existing platforms, and to the potential for completely non-invasive methods to monitor glucose levels such as microneedles, radiofrequency, or optical sensing – the possibilities for research and development in diabetes monitoring and treatment are endless. Advancements will continue to be made, and we’re excited to see how these advancements will improve the lives of millions worldwide with diabetes.