Taiwan Continuous Glucose Monitoring (CGM) 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 Taiwan CGM market is projected to grow at a CAGR of 18.94% to reach US$14.496 million in 2028 from US$4.305 in 2021.

Continuous sugar monitoring (CGM), sometimes referred to as sugar continuous glucose monitoring, automatically monitors blood glucose throughout the day. Making more educated choices about maintaining daily medication use, a healthy diet, and physical activity can be aided with real-time glucose monitoring. A small sensor used in CGM is implanted beneath the skin, often on the arm or abdomen. The sensor picks up interstitial glucose, which is present in the intercellular fluid. The sensor examines the glucose level every few minutes, and wireless data transmission sends the results to a monitor.

Moreover, the closed-loop bionic/artificial pancreas has been given a blueprint because of CGMS-based technologies. Thus, businesses that manufacture glucose monitoring devices concentrate largely on creating novel and cutting-edge CGMS. It has several applications for healthcare settings (hospital ICUs, diagnostic centers, and clinics), for all age groups, and geographical locations. A growing awareness of diabetes preventative care, new product debuts, government efforts, and the CGM device market are the major market drivers for CGM Market.

Diabetes is a significant chronic non-communicable illness that affects health, socioeconomic hardship, and early death globally. In Taiwan, it has been acknowledged as a significant public health concern for more than 20 years, and there are ongoing initiatives to enhance diabetes care. For patients to avoid aggravation and the beginning of problems, daily glucose level management is essential. With their recent development, real-time continuous glucose monitoring (CGM) apps have been created for smartphones and other devices connected to CGM systems. These CGM apps are also utilized in Taiwan. Using CGM applications enhances patients' blood glucose management as compared to conventional retrospective CGM, which is anticipated to aid in slowing the course of type 2 diabetes mellitus (DM) and preventing complications. Throughout the projected period, technological developments to increase sensor accuracy are anticipated to fuel market expansion.

Better healthcare coverage by pharmacies to surge growth.

In Taiwan, pharmacies are seen as a key instrument for improving healthcare coverage. Technology tools have been implemented in the pharmaceutical sector. Companies who participate in the "Beyond the Pills" campaign add digital platforms to their drug treatment programs to encourage follow-up and guarantee treatment continuation. One of the businesses utilizing the Beyond the Pills method to treat diabetes is Roche. MySugr is a digital platform used by the pharmaceutical business to control diabetes. To meet unmet requirements, Roche can do so by providing openly available patient solutions. It seeks to assist diabetics in improving their quality of life by helping them spend more time inside their optimum glucose target range.

?CGM sensors are the prevailing factor for market growth.

CGM sensors are a prominent market shareholder. Hydrogen peroxide is formed when platinum reacts with glucose oxidase in the CGM sensor. Throughout the projected period, technological developments to increase sensor accuracy are anticipated to fuel market expansion. CGM has been a popular substitute for portable finger-prick glucometers providing convenience to diabetic patients which will upsurge the market in Taiwan. 

Market Key Developments 

• In September 2022, Bionime debuts the first Continuous Glucose Monitoring (CGM) device developed at MIT. The first step towards achieving our goal will be the brand-new "RIGHTEST iFree CGM."
• In May 2022, Abbott got FDA approval for the FreeStyle Libre 3 continuous glucose monitor.

Segmentation:

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