Continuous Blood Glucose Monitors (CBGM) market is forecast to record 12.6% CAGR between 2013 and 2019 to reach $562.3 millions in 2019 globally.
San Mateo, CA -- (SBWIRE) -- 02/03/2014 -- The market for blood glucose monitors was estimated to be valued at $9,618.2 million in 2012 and forecast to reach $12,778.9 million by 2019 with a CAGR of 4.1% from 2013 to 2019. The blood glucose monitors market are further segmented into single point blood glucose monitors and continuous blood glucose monitors.
Currently available CGM systems display real time glucose information at 1 minute or 5 minute interval. CGM systems facilitate users with alarm system that gives alert when glucose level is too high or too low. Specialized software are also available that enables transferring all the data to the computers time to time for analysis of patterns and trends of glucose level fluctuation and thus graphs can be generated for further analysis and easy understanding. CGM systems are costlier than conventional glucose monitoring systems, they provide better glucose control.
Currently available CGM systems are not covered by most of the insurance companies in the United States but many new insurance companies entering into the market do cover CGM in the same way conventional glucose monitoring and insulin pumps are covered under insurance. Disposable sensors need to be replaced frequently; this seems to be the principal reason for CGM systems being not covered under insurance by these companies.
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The single point blood glucose monitoring devices market is segmented evenly between four major players, all vying for the top spot. However, Roche was the market leader with 33.3% market share, followed by LifeScan from Johnson and Johnson with other prominent players being Abbott and Bayer.
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