India Continuous Glucose Monitoring Market Assessment, By Type [Real-time CGM, Intermittently Scanned CGM], By Component [Glucometer devices, Sensors, Durables], By Product [Devices, Services], By Patient Care Setting [Hospital, Homecare], By Application

India Continuous Glucose Monitoring Market Assessment, By Type [Real-time CGM, Intermittently Scanned CGM], By Component [Glucometer devices, Sensors, Durables], By Product [Devices, Services], By Patient Care Setting [Hospital, Homecare], By Application [Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes, Prediabetes], By Modality [Wearable, Non-wearable], By Invasiveness [Minimally Invasive methods, Non-Invasive methods], By Distribution Channel [Retail stores, E-commerce, Pharmacy], By Region, By Opportunities and Forecast, FY2017-FY2031

India continuous glucose monitoring market size was valued at USD 12.7 million in FY2023, which is expected to reach USD 39 million in FY2031, with a CAGR of 15.2% for the forecast period between FY2024 and FY2031. Numerous pivotal factors are actively transforming the landscape within India continuous glucose monitoring market. These encompass escalating incidence of diabetes, advancements in technology, heightened recognition of the significance of proactive diabetes care, shift towards patient-centered healthcare, augmented healthcare spending in India, seamless integration of CGM technology with telemedicine and digital health platforms, the burgeoning elderly population, and substantial investments within the country.

The burgeoning prevalence of diabetes is a prominent driver propelling the growth of India's continuous glucose monitoring market. India has witnessed a substantial surge in diabetes cases, earning it the global title of ""diabetes capital."" As the number of individuals grappling with diabetes continues to soar, a converted demand exists for advanced and effective monitoring solutions to manage this chronic condition proficiently. Furthermore, India continuous glucose monitoring market has been elevated to new heights through technological advancements. Continuous glucose monitoring systems have evolved significantly, enhancing precision, user convenience, and connectivity. These innovations empower individuals struggling with diabetes by providing more convenient blood glucose level monitoring and equipping healthcare professionals with the data needed to make well-informed decisions for personalized treatment plans, leading to significant growth in India continuous glucose monitoring market.

Additionally, the increase in diabetes cases, technological progress, and growing awareness of the significance of proactive diabetes management have fostered the adoption of CGM systems, speeding the growth of India continuous glucose monitoring market. Both patients and healthcare providers have come to recognize that CGM devices furnish valuable insights that can lead to improved glycemic control and a reduced risk of diabetes-related complications.

Growing Awareness About Diabetic Management Amongst Indian Population

Growing awareness surrounding the management of diabetes has significantly led to the growth of India continuous glucose monitoring market. Awareness about diabetic control is increasing in India through efforts by healthcare organizations, the government, and various awareness campaigns by medical device companies. More individuals are becoming informed about the significance of diabetes prevention, early detection, and effective management. Increased accessibility to information through traditional and digital platforms has played a crucial role in educating people about the importance of lifestyle modifications and regular screenings. As awareness spreads across the nation, individuals will be empowered to take proactive steps in controlling their blood sugar levels by adopting healthier habits and seeking timely medical intervention.

Technological Advancements are Driving the Market

Technological advancements coupled with digitization and accessibility to smartphones are driving the India continuous glucose monitoring market. With the integration of innovative sensors, wireless connectivity, and user-friendly interfaces, these devices have become more accurate, convenient, and accessible. The surge in smartphone usage and mobile applications has enable d data tracking and analysis, empowering individuals to manage their glucose levels effectively. Developing minimally invasive and pain-free monitoring methods has also increased user acceptance.

For example, in June 2023, a Bengaluru-based startup, Ultrahuman introduced the Ultrahuman Ring Air. This device is touted as the world's lightest sleep-tracking wearable weighs in 2.4 to 3.6 grams (varies with size). Notably, it offers the capability to moni tor blood sugar levels, thereby facilitating the optimization of metabolic health. Through this device, individuals can quantify their metabolic health using a metabolic score, determined by key factors such as glucose variability, average glucose score, and the time spent within the target glucose range.

Government Initiatives

Government policies in India are playing a crucial role in driving forward the India continuous glucose monitoring market. Through various healthcare reforms and initiatives, the government has underscored the significance of advanced tools for diabetes management, including CGM devices. These policies raise awareness about diabetes and its effective management and foster the research, development, and adoption of innovative healthcare technologies.

One noteworthy development in this context is the Prime Minister of India's introduction of the National Medical Device Policy in April 2023. This policy has a primary objective of accelerating the growth of the medical device industry, with the overarching aim of bolstering India's global presence in this sector. The policy is designed to advance medical devices across various therapeutic areas, encompassing cardiology, diabetes, medical imaging, life sciences, oncology, dialysis, and more. The diabetes medical device category includes insulin pen needles, insulin pumps, and continuous glucose monitors.

Growing Demand for Non-invasive Monitoring Methods

Growing demand for non-invasive monitoring methods is one of the causes of drastic growth in India continuous glucose monitoring market. The realm of non-invasive blood glucose monitoring stands at the forefront of healthcare technology, presenting inventive approaches to track blood sugar levels without relying on conventional needle pricking or invasive methods. Patients are getting more inclined towards opting for non-invasive methods as they are more convenient and comfortable. Through non-invasive methods, glucose levels can be monitored continuously.

For example, in January 2022, BlueSemi, an innovative health-tech company based in Hyderabad, introduc ed EYVA. This groundbreaking device has been designed and manufactured in India. It stands as the world's pioneering non-invasive health-tech gadget for glucose monitoring. Offering a transformative solution in healthcare monitoring and management, this consumer health-tech device relies on pioneering patented technology that combines sensor fusion, precise AI algorithms, and smart IoT capabilities.

Rising need for real-time CGM devices

Real-time continuous glucose monitoring (CGM) devices stand as a significant breakthrough in the India continuous glucose monitoring market. These state-of-the-art technologies empower individuals with diabetes to track their blood sugar levels continually and meticulously in real-time. This capability delivers invaluable insights, facilitating improved decision-making and more adept management of the condition. These devices consist of a sensor and a reader, offering on-demand real-time glucose readings that provide a comprehensive overview of an individual's glucose levels.

For example, in November 2020, in India, Abbott, a leading American multinational in medical devices and healthcare, unveiled the highly anticipated FreeStyle Libre system, an advanced continuous glucose monitoring (CGM) technology. The FreeStyle Libre sensor measures glucose levels every minute within interstitial fluid using a minute 5.5mm long filament discreetly inserted just beneath the skin and secured in position with a small adhesive pad.

Impact of COVID-19

The pandemic has resulted in heightened demand for glucose monitoring devices leading to drastic growth in the India continuous glucose monitoring market. As the country grappled with the unprecedented challenges presented by the virus, the healthcare landscape underwent rapid and profound transformations. Notably, the pandemic raised awareness regarding the vulnerability of individuals with diabetes. It led to disruptions in supply chains, changes in healthcare priorities, and accelerated adoption of digital technologies. Implementing lockdowns and social distancing measures underscored the importance of remote monitoring and telehealth solutions, prompting a reevaluation of traditional healthcare delivery methods. COVID-19 drove an uptick in the demand for continuous glucose monitoring (CGM) systems, despite their higher cost than traditional glucose monitoring devices. CGM systems offer real-time glucose readings, a valuable feature for individuals with diabetes who were managing their condition during the pandemic.

Key Players Landscape and Outlook

Within the dynamic realm of India's healthcare sector, mergers and acquisitions have emerged as a crucial tactic for companies aiming to broaden their influence and bolster their competencies. A notable and game-changing occurrence within this landscape is the union between an online pharmaceutical firm and a medical device company, positioned to create a substantial impact within the India continuous glucose monitoring market. This strategic partnership not only signifies the fusion of knowledge and assets but also carries the potential to transform the delivery and administration of diabetes care throughout the country.

For example, in July 2020, as part of an effort to broaden accessibility and enable Indian patients to assume greater control over their well-being, Abbott and the prominent online pharmacy and healthcare platform 1mg, jointly unve iled a partnership. This collaboration aims to offer Abbott's continuous glucose monitoring products via online channels, encompassing their professional flash glucose monitoring system, the FreeStyle® Libre Pro.