Continuous Glucose Monitoring (CGM) is one of the latest technological advancements in the field of diabetes management. CGM systems are a type of glucose monitoring devices that function by inserting a biosensor through transcutaneous or subcutaneous route. The embedded sensor measures the glucose levels in the interstitial fluid or in the blood and results are transmitted via a transmitter to a receiver/monitor that displays the results. CGM systems have emerged as an integral part of diabetes management owing to its several advantages over other glucose monitoring devices. Unlike conventional glucose monitors, these systems enable periodic monitoring of glucose levels, which is crucial to avoid any diabetic complications. In addition, CGMS technology has laid a roadmap to the most awaited, high-tech, closed-loop â€˜artificial/bionic pancreasâ€™. Therefore, developing novel and technologically advanced CGMS is the prime focus of several glucose monitoring device manufacturing companies. CGMS offer a wide range of applications across all age-cohorts, healthcare settings (diagnostic centers/clinics, hospital ICUs and home healthcare) and geographies. Thus, CGMS market shows lucrative opportunity for both CGMS manufacturers and insulin pump manufacturers.
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The global CGMS market is forecast to reach $2.9 billion by 2021 registering a CAGR of 31.4% over the forecast period. The pipeline of high-tech CGMS devices, such as smartphone-connected CGMS, wearable and smartphone-connected CGMS, non-invasive CGMS and â€˜smartâ€™ diabetes management solution (also called artificial/bionic pancreas), would result in larger adoption of CGMS among endocrinologists and patients.
The market is categorized based on components, customer segments, end-user demographics and geographic regions. The CGMS components market includes durable components such as transmitters & receivers and integrated insulin pumps; and disposable components such as sensors. The segment for sensors occupies a dominant share in the CGMS market primarily due to the recurring sales of CGMS, short scrap life and bulk purchases. CGMS are deployed primarily by the diagnostic centers/clinics. Moreover, increasing usage of CGMS across the hospital ICUs and in-home healthcare settings has been observed. The CGMS devices market by age demographics is categorized as juveniles, Gen X and geriatrics.
Detailed geographical analysis and segmentation is provided at country-level per-regionâ€”North America (U.S., Canada and Mexico), Europe (U.K., France, Germany and others), Asia-Pacific (India, China and Australia) and LAMEA (Gulf Cooperation Council). Key market players include Medtronic plc, Dexcom, Inc., Abbott Diabetes Care, Animas Corporation, including others. The major strategies adopted by the market players across geographies are collaborations, product launches and approvals. Collaborations in the regions focus on innovation, distribution and commercialization of the devices.
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