Market Overview:
The Global Continuous Glucose Monitoring Market is valued at US$ 2,486.8 Mn in 2018 and is expected to grow at a CAGR of 22.3% over the forecast period to reach US$ 12,062.1 Mn by 2026.
The rising incidence of diabetes is one of the key factors fueling the global continuous glucose monitoring market.
The increasing pipeline devices of continuous glucose monitoring is one of the key factors driving the global continuous glucose monitoring market.
For instance, In December 2019, Senseonics begins a trial of 6-month for glucose continuous glucose monitoring sensors in the US. The clinical trial for its 180-day extended-wear continuous glucose monitoring sensor is part of the premarket application submission to the FDA. The study is designed to evaluate the safety and efficacy of the Eversense CGM system in people with diabetes.
Market Drivers
The rising incidence of diabetes is one of the key factors fueling the global continuous glucose monitoring market.
The increasing pipeline devices of continuous glucose monitoring is one of the key factors driving the global continuous glucose monitoring market.
For instance, In December 2019, Senseonics begins a trial of 6-month for glucose continuous glucose monitoring sensors in the US. The clinical trial for its 180-day extended-wear continuous glucose monitoring sensor is part of the premarket application submission to the FDA. The study is designed to evaluate the safety and efficacy of the Eversense CGM system in people with diabetes.
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Market Segmentation
By Component
By Region
By Component – Transmitter
The transmitter of a CGM system is a simple device. It is about the size of a quarter and hooks into the sensor and sends real-time glucose information readings wirelessly to a receiver, so the user can view the information.
The transmitter is small, flat and waterproof. It contains its own battery that is either permanent (lasting for a fixed lifetime), replaced as needed, or recharged periodically. In the cases of sensors embedded into the skin, the transmitter is worn over the CGM sensor. transmitters of the continuous glucose monitoring system are constantly being improved design-wise and its life cycle. This is mainly due to the new sensors being launched and approved by the FDA.
Most of the recent transmitters have become more user-friendly with their additional feature.
For example, Senseonics Eversense CGM System has a smart transmitter is worn on the arm, directly over the sensor, wirelessly powers the data transfer from the sensor and can last for months. It is removable, rechargeable, water-resistant and sends alerts and notifications to the mobile device and also as on-body vibe alerts from a smart transmitter even when a mobile device is not nearby during highs and lows.
Geographical Analysis – North America:
The increase in regulatory approval for continuous glucose monitoring components is one of the factors fueling the global continuous glucose monitoring market.
For instance, on 21, June 2018, Senseonics Holdings, Inc. has received Premarket Approval (PMA) from U.S. Food and Drug Administration to market Eversense Continuous Glucose Monitoring (CGM) System to people with diabetes in the United States. The system is the first and only CGM system to feature an implantable glucose sensor and provide long-term continuous monitoring for up to three months.
In March 2018, Medtronic have received FDA approval for its Guardian Connect mobile Continuous Glucose Monitor (CGM), along with the paired Guardian Connect App for Apple iOS devices. The launch is limited to U.S. Medtronic’s new mobile CGM is approved for 14-75 year-olds, includes the more accurate Guardian Sensor 3, and is approved for both arm and abdomen wear for up to seven days. It has a two-hour warmup and requires two fingerstick calibrations per day, with occasional diagnostic calibrations required.
Competitive Landscape
The global Continuous Glucose Monitoring system market has a strong foothold on Medtronic Plc, Dexcom and Roche together with their leading product and services.
The companies are focusing high on R&D, product innovation, an extension of existing product lines and looking to strengthen the market presence by geographical expansion. other segments include major companies such as Abbott, Glysens which has a CGM product portfolio
Major mergers and acquisitions followed by innovations in the market are leading to main maximum attention over the forecast period
For instance, Ahmedabad-based Eris Lifesciences Limited and India Medtronic Pvt Ltd – an Indian arm of Dublin-based Medtronic plc, entered into a collaborative initiative for diabetes monitoring, and Dexcom explains that its first-gen CGM sensor co-developed by Alphabet’s Verily may never get launched in the U.S.
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