Made-in-Taiwan CGM expects to hit global markets

Bionime Corporation announced that its continuous glucose meter (CGM) has been approved by Taiwan's Ministry of Health and Welfare for marketing, it will then compete with Abbott, Dexcom, Medtronic and other major international companies in the CGM market.

Bionime's CGM is the first in Taiwan with TFDA clearance. The company said that in addition to continuing to build its own automated production facilities for CGM products, the company will also enter into licensing negotiations with multinational companies.

According to Bionime, CGM differs from finger-stick testing in that there is no need to endure the pain of being pricked. The latter requires testing several times a day, while CGM monitors glucose with a small patch that is attached to the body in a painless way. CGM is waterproof and it monitors glucose all the time for several days, giving the user accuracy of the level of glucose in the blood.

There are only five CGM manufacturers in the world that have received FDA approval, and among them, Abbott, Dexcom and Medtronic have a combined market share of 98%. After two years of analysis and comparison by eight world-renowned patent firms, all have received the FTO (Freedom To Operate) analysis report without patent infringement, making our CGM highly competitive.

According to the estimation of professional institutions, the market size of CGM is estimated to reach $17 billion in 2028, with a compound annual growth rate as high as 19.16%; moreover, next year, the production value of CGMs in the world will exceed that of traditional BGMs. The CGM market is expected to overtake the BGM market in three years, and Bionime's product will have a good competitive advantage in terms of accuracy, fast display, mobile connectivity and intelligent management, etc.