According to a report recently released by Dublin, Ireland-based GBI Research, the glucose monitoring devices sector to climb in value at a compound annual growth rate (CAGR) of 4.7 percent to a value of $13.3 billion by the end of 2018, thanks in part to the expected adoption of more technologically advanced devices. According to the business intelligence providers latest report, the glucose monitoring devices portion represented $9.7 billion of a 2011 global diabetes care devices market valued at $17.7 billion.

Titled “Diabetes Care Devices Market to 2018 - Integrated Insulin Pumps with Continuous Glucose Monitoring Technology to Add a New Dimension to Diabetes Management,” the report details how the worldwide number of diabetes sufferers is expanding due to aging populations, growing urbanization and increasingly sedentary lifestyles.

Glucose monitoring products account for 61percent of the total pipeline products in the diabetes market, with many devices employing the latest technologies to offer more accurate, more efficacious and more user-friendly devices than those currently available.

Products expected to make a splash in this sector include the C8 MediSensors’ Optical Glucose Monitor, OrSense Ltd.’s NBM-200G, Positive ID Corp.’s Easy Check Breath Glucose, and EyeSense’s Blood Glucose Measurement Device—products that use a patient’s sweat, exhaled breath or a fluorescent eye signal to measure blood glucose levels.

The 2011 global diabetes care devices market was composed of glucose monitoring and insulin delivery segments. The insulin delivery devices market was valued at $8.1 billion in 2011, and is forecast to grow at a CAGR of 5.9 percent to reach revenue of $12 billion in 2018.

According to GBI, the report was based on data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research’s team of industry experts.