The Mobile Continuous Glucose Monitoring System Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Mobile Continuous Glucose Monitoring System Market: Drivers and Challenges
The increasing incidence and prevalence rate of diabetes is mainly expected to boost the demand for continuous glucose monitoring systems. According to WHO the prevalence rate of diabetes has almost doubled in past few decades and is estimated to account up to nearly 8.5% of the global adult population. The increasing number of diabetic patients are expected to increase demand for continuous glucose monitoring systems. In recent years the internet and smartphone penetration has increased rapidly in the emerging countries like China, India and Latin American Countries, which is making it easier for the medical device manufacturers to introduce personal healthcare products based on the internet platform that can be easily accessed by the patients via smartphones. Technological developments like integration of smart watches into continuous glucose monitoring systems by companies like Apple, Inc. and others trying for the same is expected to increase the adoption rate of the continuous glucose monitoring systems and boost the overall demand for continuous glucose monitoring systems market. Moreover companies like Dexcom, Inc. are trying to manufacture products with capability of transmitting data to other devices and systems like integration of data into EMR (Electronic Medical Records) which is expected to significantly boost mobile continuous glucose monitoring system market. However the stringent regulatory policies like PMA (Premarket Approval) from FDA may decelerate the entry of new technology in the mobile continuous monitoring system market. Also the price of continuous glucose monitoring systems are comparatively higher than the conventional glucose monitoring devices which in turn is expected to hamper continuous glucose monitoring system market. Some other factors restraining the market growth are weak reimbursement policies, fierce competition among existing players and entry of several new players in the continuous mobile glucose monitoring system market.
As the diabetic patient pool is increasing rapidly the mobile continuous glucose monitoring systems market is expected to witness healthy CAGR over the forecast period.
Mobile Continuous Glucose Monitoring System Market: Regional Overview
Geographically, mobile continuous glucose monitoring systems market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA). Geographically North America and Europe are expected to be the leading markets for mobile continuous glucose monitoring systems. Several companies have established distribution network in the U.S. and Europe which is expected to boost the growth of mobile continuous glucose monitoring systems market. Also the Medicare provides coverage for several mobile continuous glucose systems in the U.S. which in turn is expected to increase adoption rate of the continuous mobile monitoring systems. Asia Pacific is expected to be next promising market for the mobile continuous glucose monitoring systems due to high diabetic population and increasing per capita healthcare spending. China and India are some of the leading countries in prevalence rate of diabetes also companies gain operational leverage due to low labor and raw materials cost in these countries which is expected to significantly boost the mobile continuous glucose monitoring systems market in this region. Latin America is expected to be next key market after APAC due to due to increasing adoption rate of the mobile continuous glucose monitoring systems mainly due to strong promotional and distribution strategies of the manufacturers. MEA region is expected to follow up after Latin America due to increasing standards in healthcare and rising incidence of diabetes.
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Mobile Continuous Glucose Monitoring System Market: Key Players
Some key players in the mobile continuous glucose monitoring systems market are Dexcom, Inc., Insulet Corporation, Abbott Laboratories Limited, Panasonic Healthcare Corporation, Echo Therapeutics, Inc., Medtronic, LifeScan, Inc. Roche Diagnostics, Tandem Diabetes Care, Inc. and GlySens Incorporated.
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