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Exponential Rise in Diabetes Propels the Global Glucose Monitoring System Market Growth

09-23-2022 07:31 AM CET | Health & Medicine

Press release from: Inkwood Research

Global Glucose Monitoring System Market

Global Glucose Monitoring System Market

According to a new market research report published by Inkwood Research, the Global Glucose Monitoring System CGMS and SMBG Market are projected to evolve at a CAGR of 22.31% and 5.22%, respectively, during the forecasting years of 2019-2028.

"Browse 95 market Data Tables and 82 Figures spread over 353 Pages, along with an in-depth TOC on Global Glucose Monitoring System Market Forecast 2019-2028."

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The emergence of continuous glucose monitoring systems is a major achievement in glucose monitoring for diabetes patients. Continuous glucose monitoring (CGM) device is a system used for measuring glucose levels at regular levels in a diabetic patient. CGMS also provides additional information about HbA1C and fructosamine levels. Conventionally, CGMS faced competition from finger-based self-monitoring blood glucose (SMBG) devices, which are cost effective, easy-to-use, and easily approved by the authorities. However, CGMS has been accepted well in the US and is expanding its presence in other countries as well. The SMBG market is organized and expected to grow rapidly with the increasing prevalence of diabetes across the globe.

A surge in the Prevalence of diabetes Spurs Market Growth

The diabetes population has seen an exponential rise. Changing lifestyles, eating habits, and reduced physical workout have led to a rise in obesity, which is the major cause of type 2 diabetes in adults. However, Type 1 Diabetics has also witnessed an increase. As per the CDC, there are 30.3 million people suffering from diabetes, and 60% of the diabetics in the world live in Asia. By 2030, China and India together will have almost half a billion diabetics.

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Sensors - Component Type Dominated the CGMS Market in 2019

The glucose sensors market is expected to grow steadily. The size and type of sensors have changed with developing technology. The use of subcutaneous sensors has been of great significance for diabetic patients using such devices. The sensors display the real-time glucose levels of the patients with the help of sensors. The Guardian Real-Time CGMS offers real-time, round-the-clock information about glucose trends and patterns. It measures glucose levels in real-time, using disposable sensors attached to a transmitter, and displays on the monitor by using radiofrequency. The iPro CGM provides a three-day CGM report of glucose levels of the patient. A tiny sensor is inserted into the patient's skin, and it records the glucose levels every five minutes for three days.

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North America Dominated the Global Glucose Monitoring System CGMS and SMBG Market

North America contributed the largest share in terms of revenue for both CGMS and SMBG market. This dominance is attributed primarily to the growing prevalence of obesity as well as diabetes, the rising awareness among the people in the US undergoing regular tests and check-ups, and the presence of renowned companies in the region including Johnson & Johnson, Abbott Diagnostic, Becton, Dickinson, and Company, Insulet Corporation, among others.

There is intense competition among the major players in the fast-evolving GMS market. With the arrival of new technologies and mergers and acquisitions happening in the market, all the companies are focusing on bringing a unique product in order to cater to the business needs and stay competitive in the market. Some of the well-established companies trying to consolidate their position in the market through innovation and technological advancement are B. Braun Melsungen AG, Johnson & Johnson, Johnson & Johnson, Morepen Laboratories Ltd, Terumo, among others.

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