Continuous Glucose Monitoring Market Expansion Study By 2025 With Abbott, AgaMatrix, OrSense, Roche, IQVIA, Medtronic Diabetes, Johnson & Johnson, Philips, GSK, GE Healthcare, Thermo Fisher Scientific, C8 MediSensors, Integrity Applications Incorporated
This report conjointly studies the worldwide market standing, competition landscape, market share, rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and porter's 5 forces analysis. The report conjointly contains SWOT analysis for the continuous glucose monitoring market by displaying what the market drivers and restrains area unit.
The Global Market is expected to reach USD 27.49 billion by 2025, from USD 12.73 billion in 2017 growing at a CAGR of 10.1% during the forecast period of 2018 to 2025. The continuous glucose monitoring market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Report Forecasting Regional and Global Analysis on Continuous Glucose Monitoring Market By Product Type ((Continuous, Glucose, Monitoring, Systems (Sensors, Transmitters, Receivers)), Testing Site (Fingertip Testing , Alternate Site Testing), Patient Care Setting (Self/Home Care, Hospitals, Clinics), Application(Diabetes, Gestational Diabetes) and Geography.
Continuous glucose monitoring device is defined as that device which automatically monitors blood glucose level day and night .This device is inserted inside the skin, usually on belly and arm. This device measures the interstitial glucose level in the cells of the body. A transmitter wirelessly sends the information to a monitor. In 2015, about 5 million people died from diabetes. Due the increasing number of diabetic cases all over the world the demand of continuous glucose monitoring market is rising. Some of the major players operating in the global continuous glucose monitoring market are
· C8 MediSensors
· Integrity Applications
· OrSense Ltd
· Sontra Medical Corporation
· F.Hoffmann-La Roche Ltd
· Johnson & Johnson Services
· Wyeth LLC
· GlaxoSmithKline plc
· Koninklijke Philips N.V.
· Thermo Fisher Scientific
· General Electric Company
Others: Ipsen, ARKRAY, Nova Biomedical, OakTree-Health, Omnis Health LLC, ReliOn, Simple Diagnostics, US Diagnostics, Novo Nordisk A/S, A. Menarini Diagnostics S.r.l.,Vitrex Medical A/S, custo med GmbH. The global continuous glucose monitoring market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global continuous glucose monitoring market for global, Europe, North America, Asia Pacific and South America.
· For Instance, in 2016, AgaMatrix(U.S) launched CGM(iPhone-connected glucometer) this meter could be the first medical device plugin to connect to Apple’s iPhone.
· According to the statistics, in 2017, life scan one touch ultra was the most preferred blood-glucose meter brand in the United States with sales of about USD 37.45 million .
· According to the The Centers for Disease Control and Prevention (CDC), in 2017, 23.1 million people suffered from diabetes in U.S. The 84.1 million adult which is 33.9% of the adult U.S. population have prediabetes in U.S.
· According to Seeking Alpha, in 2015,415 million people were suffering from diabetes and the number is expected to grow to 642 million in 2040. In 2040 the number will be one out of 10. High blood sugar is the third major risk factor for premature mortality, after high blood pressure and tobacco use.
Key Developments in the Market:
· In 2010, Abbott (U.S.) launched FreeStyle Navigator II. It is a small, light weighted and comfortable to wear and has capsulated battery in the transmitter and a capsule reloaded battery cell in the receiver which is last for one to two years.
· In 2011, C8 Medisensors (U.S) launched new continuous glucose monitoring device which name is “HG1-c device.This device based on the principal of Raman spectroscopy.In this device painless monochromatic light is transmitted into the skin, and the scattered light is detected for the determination of glucose level.
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· The global continuous glucose monitoring market is segmented based on product type, testing, patient care setting application and geographical segments.
· Based on product type, the market is segmented into
· Receivers segments
· On the basis of testing sites, the market is classified into
· Fingertip testing
· Alternate site testing
· On the basis of patient care settings, the market is segmented into
o Self/home care
o Hospitals & clinics
· On the basis of applications, the market is segmented into
o Type 2 diabetes
o Type 1 diabetes
o Gestational diabetes
· Type 2 Diabetes and type 1 diabetes are subsegmented into adults, pediatrics.
· Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa.
· Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Major Market Drivers and Restraints:
· Rising incidences of people suffering from diabetes.
· Early detection of hypoglycaemic and hyperglycaemic diabetes.
· Increasing technological innovations.
· Lack of adequate reimbursement for devices is the key barrier to the adoption of the devices.
Reasons to Purchase this Report
· Current and future of global continuous glucose monitoring market outlook in the developed and emerging markets
· The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
· Regions/countries that are expected to witness the fastest growth rates during the forecast period
· The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report
· The report includes the complete segmentation displayed above across all above mentioned countries
· All medical device covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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