A recent report published by Infinium Global Research on CGM (continuous blood glucose monitoring) systems market provides in depth analysis of segments and sub-segments in global as well as regional continuous blood glucose monitoring systems market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional continuous blood glucose monitoring systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global continuous blood glucose monitoring systems market. The market for global continuous blood glucose monitoring (CGM) systems was valued at around USD 0.7 billion in 2015 and is expected to reach USD 3.3 billion by 2022. According to report the global continuous blood glucose monitoring systems market is projected to grow at a CAGR of 23.8% over the forecast period of 2017-2023.
During the last four decades, there have been continuous advances in the field of glucose monitoring, which have led to the development of highly evolved blood glucose meters, include non-invasive glucose monitoring (NGM) devices and continuous blood glucose monitoring systems (CGM). Glucose monitoring is an integral part of diabetes management, and the maintenance of physiological blood glucose concentration is the only way for a diabetic to avoid life-threatening diabetic complications. CGM systems have led to tremendous improvements in diabetic management, as shown by the significant lowering of glycated hemoglobin (HbA1c) in adults with type I diabetes. Most of the CGMS have been minimally-invasive, although the more recent ones are based on NGM techniques.
Diabetes disease is growing across the globe at an extraordinary pace and has become a serious health issue during the last two decades. It is a major cause of mortality in the age group of 20–79 years. Based on its rapidly increasing incidence, it has been declared a global epidemic by the World Health Organization (WHO). According to the International Diabetes Federation (IDF), the number of diabetic patients reached 415 million in 2015 globally and is expected to reach around 642 million by 2040. According to the IDF, global healthcare expenditures to treat diabetes and its complications was USD 673 billion in 2015, representing 12% of total global healthcare expenditures and is expected to exceed USD 802 billion by 2040.
Rise in base of geriatric population, increasing incidence rates of diabetes worldwide, benefits of CBGM devices over blood glucometers such as reports generation and access for historic blood glucose data to analyze the trend, growing awareness among the population, increasing preference for non-invasive methods, and approval of artificial pancreas from FDI are expected to drive the market at a significant growth rate in the coming years. However, stringent regulatory approvals and high costs associated with these devices are some of the restraining factors which could hinder the market.
Figure: Global Continuous Blood Glucose Monitoring Systems Market by Value 2015-2023
The report on global continuous blood glucose monitoring systems market covers segments such as, component. On the basis of component the global continuous blood glucose monitoring systems market is categorized into the CGM monitor, the CGM transmitter and the glucose sensor.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023. Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to the presence of large number of geriatric population and large base of population with high purchasing power. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, improved economic growth, increasing number of obesity cases and growing awareness among the population about non-invasive glucose monitoring systems.
The report provides profiles of the companies in the global continuous blood glucose monitoring systems market such as, Dexcom, Medtronic, Abbott, C8 Medisensors, Integrity Applications Ltd, Echo Therapeutics Inc., Novo Nordisk, OrSense Ltd. and Others.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global continuous blood glucose monitoring systems market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of continuous blood glucose monitoring systems market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the continuous blood glucose monitoring systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the continuous blood glucose monitoring systems market to understand the present and future trends in this market and formulate their strategies accordingly.
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