Leaders in diabetic tech are looking to another year of growth as they consider the impact of new products and technologies.
According to MedTech Dive:
From product launches to companies expanding into new markets and patient populations, diabetes technology companies are poised for another big year in 2022.
Growth in the market already was strong last year as the adoption of continuous glucose monitors and insulin pumps continued to climb. At the same time, the space overall was fairly resilient to the impact of the pandemic whereas other medtechs saw their businesses take a hit.
While companies currently are feeling more pressure from COVID-19 than over the last two years, they are expecting a year of growth and innovation as both the CGM and insulin pump markets take off.
“It’s not a zero-sum game,” John Sheridan, CEO of Tandem Diabetes Care, said about competition in the insulin pump market. “It’s not like we have to take share from Insulet or Medtronic to be successful. We can be successful because the market’s growing at the rate it is.”