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.
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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.
This report segments the CGM market on the basis of application, and end user. On the basis of application, the market is segmented into monitoring glucose for diabetes patients and critical care patients. In terms of end user, the global continuous glucose monitoring market is analyzed for hospitals, home and ambulatory health centers.
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Key features of the study:
- This report provides in-depth analysis of the continuous glucose monitoring devices market and provides market size (US$ Million), market volume (Thousand Units), Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2016 – 2024), considering 2015 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
- The report takes into account critical limiting factors such as accuracy issues and need for calibrating the device several times a day while analyzing the market value, volume and growth (%) during the forecast period.
- It includes insights on high prevalence of diabetes, increasing demand for point-of-care diagnostic devices, and increasing self-monitoring trends across the globe
- It profiles leading players in the global continuous glucose monitoring market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies and future plans
- Key companies covered as a part of this study 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
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, technology upgrade, market expansion, and marketing tactics
- The global continuous glucose monitoring market report caters to various stakeholders in this industry, including investors, raw material manufacturer, contract manufacturer, device manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would greatly benefit in decision making through the various strategy matrices used in analyzing the CGM market
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