Continuous Glucose Monitoring Systems Market Is Forecast to Reach $2.9 Billion by 2021
Market Research Store has announced the addition of the "Global Continuous Glucose Monitoring Systems 2016-2020: Industry Size, Share, Growth, Analysis, Key Trend, Demand and Forecast" report to their offering.
Deerfield Beach, FL -- (SBWire) -- 06/06/2016 --Continuous Glucose Monitoring (CGM) is one of the latest technological advancements in the field of diabetes management. CGM systems are a type of glucose monitoring devices that function by inserting a biosensor through transcutaneous or subcutaneous route. The embedded sensor measures the glucose levels in the interstitial fluid or in the blood and results are transmitted via a transmitter to a receiver/monitor that displays the results. CGM systems have emerged as an integral part of diabetes management owing to its several advantages over other glucose monitoring devices. Unlike conventional glucose monitors, these systems enable periodic monitoring of glucose levels, which is crucial to avoid any diabetic complications. In addition, CGMS technology has laid a roadmap to the most awaited, high-tech, closed-loop 'artificial/bionic pancreas'. Therefore, developing novel and technologically advanced CGMS is the prime focus of several glucose monitoring device manufacturing companies. CGMS offer a wide range of applications across all age-cohorts, healthcare settings (diagnostic centers/clinics, hospital ICUs and home healthcare) and geographies. Thus, CGMS market shows lucrative opportunity for both CGMS manufacturers and insulin pump manufacturers.
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The global CGMS market is forecast to reach $2.9 billion by 2021 registering a CAGR of 31.4% over the forecast period. The pipeline of high-tech CGMS devices, such as smartphone-connected CGMS, wearable and smartphone-connected CGMS, non-invasive CGMS and 'smart' diabetes management solution (also called artificial/bionic pancreas), would result in larger adoption of CGMS among endocrinologists and patients.
The market is categorized based on components, customer segments, end-user demographics and geographic regions. The CGMS components market includes durable components such as transmitters & receivers and integrated insulin pumps; and disposable components such as sensors. The segment for sensors occupies a dominant share in the CGMS market primarily due to the recurring sales of CGMS, short scrap life and bulk purchases. CGMS are deployed primarily by the diagnostic centers/clinics. Moreover, increasing usage of CGMS across the hospital ICUs and in-home healthcare settings has been observed. The CGMS devices market by age demographics is categorized as juveniles, Gen X and geriatrics.
Detailed geographical analysis and segmentation is provided at country-level per-region—North America (U.S., Canada and Mexico), Europe (U.K., France, Germany and others), Asia-Pacific (India, China and Australia) and LAMEA (Gulf Cooperation Council). Key market players include Medtronic plc, Dexcom, Inc., Abbott Diabetes Care, Animas Corporation, including others. The major strategies adopted by the market players across geographies are collaborations, product launches and approvals. Collaborations in the regions focus on innovation, distribution and commercialization of the devices.
In-depth and country-level analysis within all the geographic regions would provide a clear understanding of current and future trends in the CGMS market
Comprehensive analysis of factors that drive and restrict the growth of the CGMS market is provided
The report covers detailed quantitative analysis of the current market and estimations through 2014–2021, which would enable the stakeholders to capitalize on prevailing market opportunities
A detailed SWOT analysis enables to study the internal environment of the leading companies for strategy formulation
An in-depth analysis of current research and clinical developments within CGMS market is provided with key market dynamic factors that help in understanding the behavior of market
Key market players within the CGMS market are profiled in the report and their strategies are analyzed thoroughly, which help in understanding the competitive outlook of the global CGMS market
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KEY MARKET SEGMENTS
The CGMS market is segmented based on components, customer segments, end-user demographics and geography (country-level).
Global CGMS Market - by Components
Transmitters & Receivers
Integrated insulin pumps
Global CGMS Market - by Customer Segments
Global CGMS Market - by End-user Demographics
Global CGMS Market - by Geography
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