Israel Continuous Glucose Monitoring Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Diabetic Patients, Critical Patients), And By End User Industry (Hospitals, Diagnostic Centers And Clinics, Home Care) - Forecasts From 2023 To 2028

The Israel Continuous Glucose Monitoring Market is projected to grow at a CAGR of 14.61% during the forecast period to reach US$18.751 million by 2028, from US$7.217 million in 2021.

Continuous glucose monitoring or CGM is a wearable medical device that continuously tracks blood sugar levels for people with type 1 and type 2 diabetes. Tracking blood sugar levels is extremely essential for diabetic patients as they have to make sure when to take insulin and CGM devices to help them in determining that. CGM is a widely used technology as it is advantageous for diabetics. Studies have shown that the use of CGM devices ensures a shorter duration of hypoglycemia or a lower level of glycated hemoglobin. In Israel, the continuous glucose monitoring market is segmented by application and end-user.

The growing prevalence of type 1 and type 2 diabetes, continuous product launches by key market players along with rising government initiatives and programs to educate people about diabetic health & care are some of the key determinants which are positively impacting the demand for CGM devices in this country.

However, the high price of CGM devices and the lack of reimbursement policies by the medical insurance provider in this region is obstructing the growth of the Israeli market for continuous glucose monitoring devices during the analysis period.

During the anticipation period, the growing incidences of diabetes will support the growth of the Israeli continuous glucose monitoring market during the projection period.

One of the primary factors driving the growth of continuous glucose monitoring devices in Israel is the high prevalence of type 1 and type 2 diabetes among the population. According to the statistics presented by the International Diabetes Federation, 9.9 percent of Israeli adults, or more than 536,500 people, have diabetes in 2021. This number is expected to reach 781 thousand by 2045. Moreover, 82 .6 thousand people have impaired glucose tolerance in this country, which puts them at a greater risk of becoming type 2 diabetes. The number of people suffering from IGT is expected to reach 111 thousand by 2045. Those who have diabetes run the risk of significant and fatal consequences like heart attack, kidney failure, blindness, and lower limb amputation. This leads to a lower quality of life and higher medical expenditure. The prevalence of diabetes has alarmingly increased across Argentina in recent years, reaching an all-time high mostly due to lifestyle changes. Diabetes is also one of the leading causes of death in Israel. According to IDF data, nearly 13 thousand died due to diabetes. Diabetic patients must make several adjustments throughout the day to keep their blood glucose levels within acceptable ranges. Therefore CGM devices are extremely crucial for them. The decreasing cost of CGM devices in the country is also propelling market demand.

Various policies, programs, and services related to diabetes by the government to spur growth during the projection period.

To combat risk factors like obesity and other medical conditions, the Israeli government has implemented several reforms over the years to improve the distribution of doctors, create new types of service organisations, introduce new financing models, and implement a variety of quality improvement initiatives and policy frameworks in the healthcare sector. This also emphasizes chances for sustaining and growing advancements in the provision of diabetes care and the application of diabetes technologies. For instance, due to the rising prevalence of diabetes Israeli government has formulated a national plan for the prevention and treatment of diabetes.

Initiatives implemented by the Israeli government are anticipated to fuel the market's expansion. In order to assure cheap pricing for devices, the Israeli Federal Government collaborated with a large number of private businesses to use their supply chain. With the introduction of new technologies, continuous glucose monitoring devices are becoming more affordable, which is projected to boost the segment's growth throughout the forecast period.

Market Key Developments

• In August 2021, HAGAR an Israeli health tech company and the developer of GWave first non-invasive continuous glucose monitoring system in the world that measures blood glucose levels using RF waves got an investment of USD 17.1 million from Columbia Pacific. The funds will be applied to forthcoming FDA-approved clinical studies as well as to the completion of international patents.
• In October 2022, Dexcom introduced the Dexcom G7, a next-generation continuous glucose monitor (CGM), for diabetics two years of age and above. The Dexcom G7 improves on the Dexcom CGM by adding new features such as a 60as % smaller, all-in-one, discrete wearable and the quickest 30-minute sensor warm-up of any CGM on the market.

Israel Continuous Glucose Monitoring Market Scope:

Segmentation:

• By Application
  • Diabetes Patients
  • Critical Patients
• By End User
  • Hospitals
  • Diagnostic Centers & Clinics
  • Home Care