A new report published by Progressive Markets, titled, GlobalContinuous Glucose Monitoring (CGM) Market- Opportunity Analysis and Industry Forecast, 2016-2025, projects that the market would reach $16,574 million by 2025 from 2016, valued at $830 million, registering a CAGR of 33.5% from 2017 to 2025.
"Global Continuous Glucose Monitoring (CGM) market Segmented by devices, application, age and Geography.
Sensors segment is expected to dominate the CGMS market during the forecast period. Majority share of the global market was captured by U.S. in 2015.
The CGMS market is driven by rise in the incidence of diabetes, increased awareness among patient population and development of novel CGMS system with improved benefits over the conventional glucometers. Novel technological advances and approval of novel devices like Medtronics MiniMed 670G, for automated monitoring and maintenance of insulin levels in patient group are further fuelling the growth. However, lack of reimbursement is posing as a challenge to the adoption of CGMS systems.
Research Factor Included in Continuous Glucose Monitoring Industry
Sensors represent the largest source of revenue and are expected to witness rapid growth during the forecast period. CGM system developers collaborate with insulin pump manufacture to develop integrated system comprising of insulin pumps with CGM sensors. Higher utilization rates of CGM systems among children population is anticipated to witness a CAGR of 44% during the forecast period.
Segmentation of Continuous Glucose Monitoring Market by Device, Application and Key Audience
The diagnostic/clinical use of CGM system garnered the largest share among the end user group. Demand for the CGM system in home is expected increase owing to potential cost advantages when compared to the clinical/diagnostic use of CGM system. Regionally, North America and Europe represent the largest market for CGM system owing to higher affordability rates. However Increase in healthcare spending and awareness levels in the Asia-Pacific is expected to drive the adoption of CGM system during the forecast period.
Key Manufacturers of Global Continuous Glucose Monitoring Market
The report profiles, Abbott Laboratories, Echo Therapeutics, Inc., Dexcom, Inc., Johnson & Johnson, Medtronic plc, Senseonics Holdings, Inc., GlySens Incorporated, and F. Hoffmann-La Roche Ltd as the key players. Other players in the CGMS market (profiles not included in the report) include AgaMatrix, Inc., Glucovation, Arkray USA, Inc., OrSense, GlySure, and Pinnacle Technology.