According to a report by Reports and Data, the Continuous Glucose Monitoring devices market was valued at USD 4.11 billion in 2020 and is estimated to reach USD 19.04 billion in 2028, growing at a CAGR of 19.2%. Estimating and identifying appropriate blood glucose level in patients through continuous glucose monitoring (CGM) devices is a vital component of therapy success. Continuous glucose monitoring evolved from enzyme-based electrochemical glucose sensors. It is an instrument with a small sensor attached with a transmitter for daily diabetes management. The Continuous Glucose Monitoring devices aid in better diabetes management by proactively tracking glucose level fluctuations in interstitial fluid as a basis for improving metabolic control. CGM devices help in reducing the risk of hyperglycemia hypoglycemia.
The global spread of diabetes along with increasing geriatric population and continuous technological advancements have propelled the market growth of the CGM devices. According to the WHO, Diabetes is increasing at an alarming rate in the United States, and nearly 30.3 million people, or 9.4% of the U.S. population, have diabetes. An estimated 23.1 million people - or 7.2% of the population - had diagnosed diabetes. North America accounts for the largest share in the global continuous glucose monitoring devices market due to government initiatives undertaken for prevention of diabetes and treatment support along with the presence of dominant players in this region, technological advancements in the drug discovery procedures, growing rate of obesity in the region, sedentary lifestyle and techno savvy population.
While, there are certain restraining factors which stand as potential challenges to the market growth. Inadequate reimbursement and high cost associated with the application of CGM devices, measurement reliability, human factors issues, lack of a standardized format for displaying results, and uncertainty pertaining to the best use of CGM data to make therapeutic decisions are some of the key factors hampering the growth of this market during the forecast period.
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The report provides an in-depth analysis of the key developments and innovations of the market such as research and development advancements, product launches, mergers acquisitions, joint ventures, partnerships, government deals, and collaborations. The report offers a comprehensive assessment of key players in the market along with their global position, financial standing, business expansion plans, production and manufacturing capacity, and strategic alliances.
Key players in the market include
Dexcom, Abbott Laboratories, Pfizer Inc., Inc. Baxter International, Menarini Diagnostics, Johnson Johnson, Medtronic PLC, Animas Corporation, and Novo Nordisk A/S, ARKRAY, Inc., Bayer AG, Terumo Medical Corporation, Echo Therapeutics, Inc.; Medtronic PLC; F. Hoffmann-La Roche Ltd., GlySens Incorporated
Furthermore, the report segments Continuous Glucose Monitoring Devices market on the basis of key product types and applications and provides details about the revenue growth, revenue CAGR, and revenue share each segment is expected to register over the forecast period.
By Component (Revenue, USD Million; 2018-2028)
- Insulin Pumps
- Transmitters receivers
- Sensors
By End-Use (Revenue, USD Million; 2018-2028)
- Hospitals
- Homecare settings
- Others
For a better understanding of the global Continuous Glucose Monitoring Devices market dynamics, a regional analysis of the market across key geographical areas is offered in the report. The market is spread across key geographical regions such as North America, Europe, Latin America, Asia Pacific, and Middle East Africa. Each region is analysed on the basis of the market scenario in the major countries of the regions to provide a deeper understanding of the market. It provides insights into production and consumption patterns, supply and demand ratio, export/import, current and emerging trends and demands, market share, market size, revenue contribution, and presence of key players in each region.
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In-depth regional analysis includes:
- North America (U.S., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of EU)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of the Global Continuous Glucose Monitoring Devices Report:
- Comprehensive analysis of the opportunities and risks of the Continuous Glucose Monitoring Devices market
- Detailed study of the latest product and technological developments and innovations of the Continuous Glucose Monitoring Devices market
- Business strategies and plans are analysed for understanding the Continuous Glucose Monitoring Devices market scenario
- Revenue forecast of Continuous Glucose Monitoring Devices market for the forecast period 2020-2027
- Comprehensive analysis of the drivers, constraints, limitations, challenges, and opportunities
- Latest and emerging market trends analysis and their impact on product and application demand
- Study of recent MA, joint ventures, collaborations, partnerships, product launches and brand promotions among others
- Extensive SWOT analysis and Porter’s Five Forces analysis along with investment return analysis and feasibility
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