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Europe Continuous Glucose Monitoring Systems Market expected to show dynamic growth due to an increase in per capita spending on healthcare and an increased incidence of diabetes

02-06-2019 10:57 AM CET | Health & Medicine

Press release from: Allied Market Research

Continuous Glucose Monitoring Systems Market

Continuous Glucose Monitoring Systems Market

The European market for persistent glucose monitoring systems is expected to reach $ 792 million by 2022, with an average annual growth rate of 44.9% between the forecast period of 2016 and 2022. The sensor sector is expected to generate the highest revenue in this market during the forecast period.

The CGMS market in Europe is expected to show dynamic growth due to an increase in per capita spending on healthcare, an increase in personal disposable income, and an increased incidence of diabetes. CGMS also has a number of advantages over traditional blood glucose meters such as sensitivity, precision and periodic monitoring. CGMS is available in all ages and in various healthcare environments. This technology can also be applied to artificial / living pancreas. Therefore, many CGMS and insulin pump manufacturers focus on developing new and advanced CGMS. However, adverse reward policies against CGMS hinder market growth.

The sensor market accounted for the highest portion of sales in the CGMS market. In addition, CGM sensors are expected to show the highest growth during the market analysis period because they change more frequently than transmitters and receivers. The higher the proportion of the adult population, the more likely this segment will generate the largest market revenue. However, due to increased demand for children's CGM devices, the child population can grow to a higher CAGR.

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Key players profiled in this report include
• Abbott Laboratories
• DexCom Inc.
• Echo Therapeutics Inc.
• Insulet Corporation
• Johnson & Johnson
• Medtronic plc
• Senseonics Holding Inc.
• F. Hoffmann-La Roche Ltd.

Other players (not profiled in this report) operating in this market include AgaMatrix, Inc., GlySure, OrSense, and Ypsomed.

Based on end-user market analysis, diagnostics/clinics contributed the highest share to the market revenue. The network of health insurers with the physicians operating at the diagnostics/clinics level is expected to drive the CGMS market in European diagnostics/clinics. However, high growth of the home healthcare segment is expected, as this segment is economic as compared to treatment from healthcare institutions. In addition, home healthcare would be the suitable solution for geriatric and children population who cannot visit the clinics for diabetes treatment.

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Key findings of Europe Continuous Glucose Monitoring Systems Market:
• UK is projected to grow at the highest CAGR during the forecast period.
• Germany generated about one-fifth of the total market revenue in 2015, and is projected to be the maximum revenue-generating country by 2022.
• Sensors segment accounted for more than three-fifths of the market revenue in 2015 and is projected to exhibit prominent growth during the forecast period.
• Home healthcare and diagnostic/clinics contributed over half of the market share in 2015.

Region wise, Germany leads the market, in terms of revenue, owing to favorable guidelines about pricing and fixed reimbursement budget allocation for CGM devices. In addition, the market is estimated to exhibit significant growth in Norway, Sweden, and Denmark owing to the availability of advanced diabetes care facilities, and robust clinical guidelines and standards for diabetes management.

Renowned companies, such as Senseonics and Rubin Medical, have adopted collaboration as their key strategy to commercialize their CGMS products in Denmark and Sweden. An increasing number of diabetic patients, well-structured diabetes management regime, and proactive initiatives taken by the government have encouraged several CGMS companies to invest in Europe.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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