Albany, NY -- (SBWIRE) -- 11/24/2017 -- According to a recent market research report published by Transparency Market Research, the global continuous glucose monitoring market is estimated to expand robustly at a CAGR of 13.6% during the period between 2013 and 2019. The report, titled "Continuous Glucose Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," projects the global continuous glucose monitoring market to reach a valuation of US$910 mn by 2019. The overall market was worth US$370 mn in 2012.
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Continuous glucose monitoring, better known as CGMS, refers to the real-time monitoring of glucose levels at regular intervals with the help of portable glucose monitoring systems. The glucose level in the human body is also determined by blood glucose meters but they measure the glucose level in the blood. With the help of wireless technology, portable blood glucose monitoring devices transmit glucose readings collected from the interstitial fluid between skin cells.
The report points out that the rise in the diabetic population worldwide has majorly boosted the demand for continuous glucose monitoring devices. According to the International Diabetes Federation (IDF), around 382 mn people were diagnosed with diabetes across the globe in 2013. By 2035, the total number of diabetics over the world is expected to reach a staggering 592 mn.
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Type I diabetes is the most common form of diabetes among adults. In the U.K., about 10% of the total diabetic population suffers from type I diabetes. Continuous glucose monitoring systems have been identified as the most effective tools for management of type I diabetes, where patients are insulin-dependent. However, unfavorable reimbursement policies might restrict the growth of the global continuous glucose monitoring market during the forecast horizon. The overall market has a huge scope to grow with the development of continuous glucose monitoring devices based on non-invasive techniques.
On the basis of device, the report segments the global continuous glucose monitoring devices market into Dexcom Seven Plus CGM System, FreeStyle Navigator, Guardian Real Time CGM System, Dexcom G4 Platinum, MiniMed Paradigm Revel/ Veo Systems, and others. In 2012, the Guardian Real Time CGM System dominated the overall market, followed by Dexcom Seven Plus CGM System.
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The report studies the continuous glucose monitoring market across four key regions: Asia Pacific, Europe, North America, and Rest of the World. North America dominated the overall market in 2012 owing to the rapidly growing obese population, technical advancements in medical equipment, and rise in geriatric population. During the forecast horizon, Asia Pacific is anticipated to register rapid growth. Changes in lifestyle, increasing patient awareness, and economic development will fuel the demand for continuous glucose monitoring devices.
The report profiles some of the key players in the global continuous glucose monitoring market such as Dexcom Inc., Medtronic Inc., Abbott Laboratories Inc., GlySens Incorporated Nova Biomedical Corporation, Bayer AG, Senseonics Incorporated, and Insulet Corporation. The report provides information about the product portfolio, financial overview, recent developments, and business strategies adopted by the companies to ensure sustainability and maximize profits.
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