While their use by athletes in next month’s Paris Olympic Games has them in the spotlight right now, continuous glucose monitors are likely to play a larger role in other sports in the near future in ways not necessarily connected to athletic performance.
Thanks to an increasingly competitive landscape within the category, CGM makers are likely to become active in sponsorship as a way to educate consumers about their products and differentiate themselves through exclusive relationships.
Once exclusively intended for diabetes patients, CGMs are taking on a bigger role with other health-conscious consumers who view the devices as a way to help make lifestyle choices to improve their well-being. That includes, among others, professional and amateur athletes and users of the new crop of weight-loss drugs such as Ozempic and Wegovy.
According to Reuters, research firm GlobalData projects that what is known as the “lifestyle” CGM market will grow an average of 15 percent a year between now and 2031, eventually becoming a $9.9 billion global business.
Clearing the way for growth in the U.S. is approval by the Food and Drug Administration of non-prescription CGMs. Dexcom was the first to receive the FDA blessing in March and plans to launch its Stelo device this summer. On its heels in the next few months will be Abbott’s Lingo, which received over-the-counter approval Monday.
Abbott has already introduced the Lingo monitor and connected smartphone app in Europe, promoting it through its partnerships with marathon runners and the Abbott World Marathon Majors series.
Both Dexcom and Abbott will need to amp up marketing to overcome skepticism that CGMs are beneficial for users without diabetes. Many in the medical community say it isn’t necessary for people who don’t have diabetes to monitor their blood glucose levels because their bodies can regulate blood sugar after meals and maintain energy needs between them.
But proponents say wearing the biosensors and understanding their real-time glucose levels creates awareness of the impact of lifestyle and behaviors on their blood sugar and may help encourage healthier habits such as regular physical activity, nutritious eating and optimized sleep.
In addition to tying into the health and active-lifestyle elements of both participatory and spectator sports, sponsorships by CGM makers could leverage on-site activation areas to have brand ambassadors explain how the wearables work, their benefits and pricing. (The price for Lingo in the U.K. currently averages about $170 a month, according to Reuters.)