Continuous Glucose Monitoring (CGM) Market: Drivers Are Responsible to for Increasing Market Share, Forecast 2026 With Top Players Abbott Laboratories, Roche Diagnostics, Dexcom, Bayer AG, Medtronic, Animas Corporation, Nova Biomedical Corp

The global continuous glucose monitoring market was valued at US$ 2,035.8 million in 2015 and is expected to expand at a CAGR of 24.5% during the period 2016 – 2024. Continuous Glucose Monitoring (CGM) systems are the latest advancement in diabetes management. As opposed to conventional systems that allow for one time check of glucose levels, a CGM device notifies the user if the glucose level nears present levels. The device measures glucose from the tissues as opposed to manual testing of blood using a finger-stick glucose meter, helps in identifying glucose levels for a longer time period, while performing different activities.

Get The PDF Brochure of This Business Report @ https://www.coherentmarketinsights.com/insight/request-pdf/57

Market Dynamics

Demand for point-of-care (POC) diagnostic devices, and growing self-monitoring trends across the globe. According to the International Diabetes Federation (IDF), the global diabetic population in 2015 was 415 million and is expected to reach 642 million by 2040. Increasing awareness about CGM devices among the diabetic population is projected to be a major factor driving demand for the device in the near future. Moreover, patients are increasingly inclined towards real-time health monitoring, which is possible through CGM systems. Conversely, high prices of devices and calibration issues are key challenges that can inhibit market growth. Companies therefore, need to improve upon the accuracy of the device, which in turn would encourage healthcare practitioners to recommend the use of CGM devices among diabetic patients.

Sensors to emerge as highest revenue contributor among component segments

Sensors are an integral part of CGM system. The type and sensitivity of the sensor are crucial factors that influence accuracy of sensing glucose level in the interstitial fluid. Although, transmitters hold a dominant share, accounting for over 50% (2015) share of the market, revenue contribution of the sensors segment is expected to increase at a faster growth rate during the forecast period (2016 – 2024).

Rapid increase in demand for CGM devices, especially in emerging economies, is mainly attributed to increasing consumer awareness regarding the importance of monitoring presence of glucose in the body in order to sustain a healthy life

North America and Europe were the largest markets for continuous glucose monitoring, collectively accounting for over 75% share of the global continuous glucose monitoring market in 2015. This was mainly owing to new product launches, rapid adoption of new technologies, and high product awareness in these developed regions. However, with increasing prevalence of diabetes in emerging economies such as India, China, Taiwan, Brazil, South Korea, and South Africa, demand for CGM devices is expected to witness a steep incline in these countries over the forecast period.

Global players need to explore the untapped geographies and simultaneously should focus on upgrading their CGM technology

Major players in the global continuous glucose monitoring market include Abbott Laboratories, Roche Diagnostics, Dexcom Inc., Bayer AG, Medtronic, Inc., Animas Corporation, Nova Biomedical Corporation, Ypsomed AG, GlySens Incorporated, Insulet Corporation, and Sensionics Incorporated.

Request Customization @ https://www.coherentmarketinsights.com/insight/request-customization/57

Integration of advanced technologies is expected to provide a competitive edge to CGM device manufacturers

Senseonics, Inc. received CE approval for its Eversense CGM system, the world’s first long-term implantable CGM. Eversense system uses a 90-day implanted sensor, while conventional CGM systems rely on five-to-seven day sensor capacity.
GlySens implantable continuous glucose monitoring (ICGM) system is undergoing clinical evaluation for safety and accuracy
Medtronic, Inc. collaborated with Fitbit to integrate the physical activity data of the Fitbit wearable with the glucose levels in a single application called iPro2 myLog
These new technologies would give Senseonics, Inc., Medtronic, Inc. and GlySens Incorporated a competitive edge over the existing leading players such as Roche Diagnostics, Dexcom Inc., and Bayer AG.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.