European Continuous Glucose Monitoring Systems Market to Reach $792 Million, by 2022
Europe Continuous Glucose Monitoring Systems Market by Component (Sensors, Transmitter & Receiver, and Integrated Insulin Pumps), Demographics (Adult Population and Child Population), and End User (Diagnostics, ICUs, and Home Healthcare)
Portland, OR -- (SBWire) -- 06/15/2017 --Europe Continuous Glucose Monitoring Systems Market Report, published by Allied Market Research, forecasts that the market was valued $58 million in 2015, and is expected to reach $792 million by 2022, supported by a CAGR of 44.9% during the forecast period 2016 - 2022. The sensors segment is anticipated to generate the highest revenue in this market during the forecast period.
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The European CGMS market is expected to witness dynamic growth, owing to rise in per capita healthcare expenditure, increase in disposable income of individuals, and growth in prevalence rates of diabetes. In addition, CGMS has various advantages over conventional glucose monitors such as greater sensitivity, higher precision, and periodic monitoring. CGMS can be used across all age groups and various healthcare settings. Moreover, the technology is applicable in artificial/bionic pancreas; hence, several CGMS and insulin pump manufacturers focus on the development of novel and advanced CGMS. However, unfavorable reimbursement policies for CGMS hinder the market growth.
Sensors market contributed for the highest share of revenue in the CGMS market. In addition, the market is expected to witness the highest growth during the analysis period, as CGM sensors are changed frequently as compared to transmitters & receivers. As the percentage of adult population is high, this segment is estimated to generate the largest market revenue. However, owing to the growth in demand for CGM devices for children, the children population segment may grow at a higher CAGR.
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Based on end-user market analysis, diagnostics/clinics contributed the highest share to the market revenue. The network of health insurers with the physicians operating at the diagnostics/clinics level is expected to drive the CGMS market in European diagnostics/clinics. However, high growth of the home healthcare segment is expected, as this segment is economic as compared to treatment from healthcare institutions. In addition, home healthcare would be the suitable solution for geriatric and children population who cannot visit the clinics for diabetes treatment.
Key findings of Europe Continuous Glucose Monitoring Systems Market:
- UK is projected to grow at the highest CAGR during the forecast period.
- Germany generated about one-fifth of the total market revenue in 2015, and is projected to be the maximum revenue-generating country by 2022.
- Sensors segment accounted for more than three-fifths of the market revenue in 2015 and is projected to exhibit prominent growth during the forecast period.
- Home healthcare and diagnostic/clinics contributed over half of the market share in 2015.
Region wise, Germany leads the market, in terms of revenue, owing to favorable guidelines about pricing and fixed reimbursement budget allocation for CGM devices. In addition, the market is estimated to exhibit significant growth in Norway, Sweden, and Denmark owing to the availability of advanced diabetes care facilities, and robust clinical guidelines and standards for diabetes management.
Renowned companies, such as Senseonics and Rubin Medical, have adopted collaboration as their key strategy to commercialize their CGMS products in Denmark and Sweden. An increasing number of diabetic patients, well-structured diabetes management regime, and proactive initiatives taken by the government have encouraged several CGMS companies to invest in Europe.
Key players profiled in this report include Abbott Laboratories, DexCom Inc., Echo Therapeutics Inc., Insulet Corporation, Johnson & Johnson, Medtronic plc, Senseonics Holding Inc., and F. Hoffmann-La Roche Ltd. Other players (not profiled in this report) operating in this market include AgaMatrix, Inc., GlySure, OrSense, and Ypsomed.
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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