Global Continuous Glucose Monitoring (CGM) Market,
The global CGM market is undergoing a major technological change that is resulting in a major paradigm shift. Novel devices such as Eversense CGM and GlySens ICGM, which can be implanted for relatively long duration of time, are expected to experience major growth traction, while demand for conventional CGM systems is expected to decrease in the near future. Demand would be largely driven by increasing awareness among the diabetic patients, especially in emerging markets such as Brazil, India, Indonesia, China, Russia, and South Africa regarding the various benefits of using these systems in order to maintain a healthy life. Renewed and dedicated effort from manufacturers and governments across these countries is essential to increase patient awareness and educate them about the importance of regular glucose monitoring in order to keep a check on diabetes and related diseases.
Request a sample copy of this report@
Continuous monitoring glucose devices have witnessed increased demand from critical care patients, in order to avoid complexities in health condition. As a result, the device has witnessed high adoption in ICU units, besides home care and clinic settings. However, calibration issues is one of the prominent factor inhibiting market growth.
Technology collaboration helps companies leverage technical expertise of the other party and is a key trend prevalent in this industry. For instance, Medtronic collaborated with Fitbit, Inc. to integrate the physical activity data of the person with glucose levels into its iPro2 myLog application. Similarly, Senseonics, Inc. launched Eversense, the world’s first long-term implantable CGM, in January 2016. The evolving technological trend is transforming the method of monitoring glucose in the body.
However, therapeutic decisions as an outcome of measurement from tissue (interstitial fluid) lacks accuracy. Therefore, market is witnessing increasing adoption of CGM devices to be used in conjunction with conventional blood glucose monitoring devices, as a tool for diabetes management rather than as a replacement for the same. Companies therefore, need to work on the mechanism of the CGM system to make it more reliable in terms of diagnosis of diabetes, rather than just a tool for management.
Key take aways of the market:
Diabetes is now of the most prevalent diseases that affects millions of people worldwide. 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. Increase in awareness among patients is expected to drive market growth at a high CAGR of 9.8% during the forecast period 2016 - 2024.
Among the various product types of CGM systems, namely sensors, transmitters, and insulin pumps, the transmitters segment dominated the market in 2015, with a share of over 50%; however, growth of the market is expected to be mainly driven by sensors segment during the forecast period (2016 – 2024). CGM devices are used by diabetics as well as critical care patients. Demand for CGM devices would be high amongst the diabetic patient population during the forecast period, primarily due to increasing health awareness which indirectly promotes real-time monitoring of glucose levels.
In 2015, North America was the largest market for CGM, contributing US$ 247.6 million towards overall market revenue. This was primarily attributed to increasing awareness about CGM coupled with presence of substantially large diabetic population in the region.
According to the International Diabetes Federation (IDF), Asia Pacific was home to over 50% of the global diabetic population in 2015, with the highest prevalence rates recorded in China and India. The potential for CGM systems is therefore very high in these countries. Moreover, with increasing patient awareness, growing demand for POC devices and increasing focus on health monitoring, demand for CGM devices is projected to grow rapidly in Asia Pacific at a CAGR of 14.9% over the forecast period.
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.
Get More Details about this Report@
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Visit Coherent Market Insights Blog @ https://blog.coherentmarketinsights.com
Connect with us on LinkedIn @ https://www.linkedin.com/company/coherent-market-insights
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Continuous Glucose Monitoring (CGM) Market, here
News-ID: 604289 • Views: 579
More Releases from Medical Device By CMI
Custom Procedure Trays and Packs Market – Insights
Increasing number of surgical procedures is fuelling the adoption of custom procedure trays and packs (CPTP) market during the forecast period. For instance, according to the WHO, global volume of the surgeries performed in 2012 was estimated to 266.2 to 359.5 million, out of which one in every 20 operations globally was done in very-low-expenditure Member States. Increase in geriatric population, who are more likely to develop chronic wounds as they
Robotic Rehabilitation and Assistive Technologies Market, By Product Type
Rehabilitation robotics and assistive technologies allow for use of robotic devices for rehabilitation of patients suffering from mobility issues. Robotic rehabilitation and assistive technologies allow for application of robotics in therapeutic procedures to help with recovery a person from various diseases or disabilities such orthopedic traumas, neuromotor disorders, cognitive diseases, strokes and spinal cord injury. Assistive robotics allows people suffering from degenerative motor and/or cognitive abilities to lead an independent
Spectrophotometer Market : Moving Towards a Brighter Future
North America is expected to hold dominant position in the market and is also expected to show significant growth in the spectrometer market, due to increasing launch of novel products in the region by key players. For instance, in February 2018, Thermo Fisher Scientific, a U.S.-based company, launched TSQ 9000 Triple Quadrupole GC-MS/MS System. This system has been designed to increase productivity, with enhanced sensitivity, and it also reduces maintenance
Clinical Mass Spectrometry: Innovative Solution for Diverse Medical Applications
Clinical Mass Spectrometry: Innovative Solution for Diverse Medical Applications Clinical mass spectrometry serves as a quantitative and qualitative analytical tool for assessment of complex mixtures in all the phases of drug development, including identification of the lead compound and their conformational details. Clinical laboratories use automation for the management of large number of samples through, either total automation systems or high level analyzer automation that are offered by clinical mass spectrometers
More Releases for CGM
Global BGM and CGM Market Data Statistics Analysis 2020-2025
This report also researches and evaluates the impact of Covid-19 outbreak on the BGM and CGM industry, involving potential opportunity and challenges, drivers and risks. We present the impact assessment of Covid-19 effects on BGM and CGM and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.). Global BGM and CGM Market Overview: The global BGM and CGM market is expected to grow at a significant pace, reports GLOBAL INFO RESEARCH. Its latest research report,
Global Continuous Glucose Monitoring Devices (CGM) Market
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Continuous Glucose Monitoring Device Market. The report analyzes the Global Continuous Glucose Monitoring Market by Component (Transmitter & receiver, sensor, Integrated Insulin Pump), By Demographics (Pediatric, Adult), By End user (Homecare, Hospital), By Region (North America, Europe, Asia Pacific, Rest of the world)
Canada Insulin Pump & CGM Industry 2018
Canada Insulin Pump & CGM Industry Although Canada insulin pump market is small but it has market potential to reach nearly CAD 1 Billion mark by the end of year 2024. Similarly CGM market is also small but if it gets reimbursement under Canadian government then it has market potential to surpass CAD 80 Million by 2024. The government of Canada has expanded its diabetes management policy along with diabetes technology which will
Global CGM Market, Users, Reimbursement Policy, CGM Components (Glucose Sensor, …
Researchmoz added Most up-to-date research on "Global CGM Market, Users, Reimbursement Policy, CGM Components (Glucose Sensor, Transmitter) Market, Diabetes (Type1 & 2) Population, & Forecast" to its huge collection of research reports. Global CGM market will be an US$ 4 Billion opportunity by 2024. This report provides the market data on, continuous glucose monitoring (CGM) systems market of 11 countries globally. In the report CGM market has been divided into 2
CGM Market, Users, Reimbursement Policy, CGM Components (Glucose Sensor, Transmi …
Global CGM market will be an US$ 4 Billion opportunity by 2024. This report provides the market data on, continuous glucose monitoring (CGM) systems market of 11 countries globally. In the report CGM market has been divided into 2 components: glucose sensors and CGM transmitters. Transmitters & receivers along with sensors are known as standalone CGM systems, which are preinstalled by manufacturer. Sensors are disposable items, which is replaced after
Shipping Containers Market 2017- CIMC, SINGAMAS, Sea Box, CMA CGM
MarketInsights.Biz, recently published a detailed market research study focused on the "Shipping Containers Market" across the global, regional and country level. The report provides 360° analysis of "Shipping Containers Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Shipping Containers industry, and estimates the future trend of Shipping Containers market on the