“Global Continuous Glucose Monitoring (CGM) System Market – Analysis & Forecast, 2016-2022” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977.
The Report Global Continuous Glucose Monitoring (CGM) System Market projects to grow at CAGR of 24+% and reach a figure of $2.13 billion by 2022. The advancements in technology, ease of use, smart device connectivity are some of the major driving factors for this market.
The integration of insulin pumps in CGM systems and emerging artificial pancreas technology exhibits insulin pumps as the fastest growing segment at a CAGR of 24.80% during the forecast period. The installment of a transmitter and a receiver is a onetime process and hence the cost incurred is very low which results in low market value.
Diabetes affects all age groups and hence the need for CGM Systems are increasing with the growing awareness and adoption of the device. The end user group is divided on the basis of patient’s age and their complications. In this report the end user group are categorized as Children & Teens, Youth, and Middle Aged & Aged.
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The end applications of the CGM systems can be seen in Home, Hospitals, Clinics, and Diagnostics Centers. Household or Home setting application have dominated the market in 2015 and growing at a CAGR of 24.70% from 2016 to 2022.
North America dominated the global market in 2015 with a share of 46% due to the increasing adoption of CGM devices for better healthcare management. APAC, holds the highest number of diabetic patients where a large number of developments in diabetic care have been noticed in the last few years. However, the APAC is estimated to show the highest growth with a CAGR of 26.32% from 2016 to 2022 specifically in the Middle East region.
The gradual advancement and innovation of new diabetic care technologies have formed a concrete platform for the further growth of Continuous Glucose Monitoring (CGM) Systems market. With the emergence of advanced technologies such as mobile health, smart sensors, wearable technologies, and 3D-printing into the field of diabetic care, there has been a rise in the overall demand of the newly developed CGM devices. Presently, the focus of the government initiative is mainly towards developing non-invasive solutions, controlling the level of increase in diabetic population, and integrating advanced technologies to fulfill the unmet needs of the diabetic population.
Governmental regulations and standards are playing a major role in sustaining the growth and development of the CGM Systems market. The main aim of these regulations is to make the device more adaptable and attentive towards different types of diabetic conditions as well as to provide modern mobile technologies to the diabetic population. The patients benefit indirectly through these regulations as it helps them to save time and cuts-down the overall cost of monitoring devices as the patients receive the required treatment for the disease.
The market growth is propelled due to factors such as: increasing demand for non-invasive treatments, technological innovation and advancements, increasing diabetic population, and Medicare& reimbursement policies, among others
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This study includes an overview and analysis of the CGM Systems market, by components end user groups, applications, and geography, allowing the research to develop a comprehensive outlook of the market. The market report presents a detailed and analytical study of the entire market and provides a comprehensive insight into various forms of developments, trends and key participants. The type of diabetes are categorized into three major categories, viz. type 1, type 2, and gestational in the report. All of the above mentioned report coverage parameters are discussed across different regions such as North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW).
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