According to International Diabetes Federation (IDF) reports, approximately 382 million people globally were diagnosed with diabetes in 2013 and this number is expected to grow to 592 million by 2035.
Albany, NY -- (SBWIRE) -- 05/27/2014 -- Continuous glucose monitoring systems (CGMS) are smart, tiny and automated glucose monitors that measure and display a wide range of information of a patient’s fluctuating glucose levels by analyzing the interstitial fluid (ISF) in the patient’s skin cells. These devices, when compared with the traditional glucose monitoring systems that require a speck of the patient’s blood every time one needs to check the blood glucose level, are found to be more efficient for both type 1 and type 2 diabetes.
Browse Full Report Continuous Glucose Monitoring Market Research Report With Full TOC @ http://www.transparencymarketresearch.com/continuous-glucose-monitoring.html
The current devices in market comprise of a sensor, a transmitter and a receiver. The sensor is placed underneath the skin into the abdominal wall or the arm so that it comes in contact with the ISF of the patient’s body. The sensor is pricked only as much in the skin as to compromise the skin barrier but not punctuating any blood vessel. The sensor is attached to the transmitter that relays information to the receiver, which then displays the data.
The data displayed through the receiver provides a wide range of information about the blood glucose such as the frequency, magnitude, direction, duration and even the possible causes of fluctuations in Glucose levels in a person’s body. Such extensive data makes the inspection of trends in a patient’s glucose levels possible, allowing prediction of emergency situations.
Continuous glucose monitoring systems fare well than the traditional glucose monitors (that require pricking a speck of blood) because the traditional monitors are generally used only once a day by most patients. Continuous glucose monitors, on the other hand, allow for continuous monitoring of the patent’s glucose levels throughout a day.
The growth of continuous glucose monitoring market is fueled by the rise in diabetic patients throughout the globe and the increasing awareness about such devices. Hospitals and individual practitioners are also encouraging their patient’s for using these devices, which again can be seen as a reason for the growth of this industry.
However, these devices are more useful when the final output is important and not the intermittent results. These devices are also not very competent with the traditional measures of blood sugar management in terms of accuracy and are not meant to replace them any sooner. Technology still needs to be innovated to make these devices more accurate and the results more precise and easy to analyze.
Some major issues that can hinder the way of growth of this industry are medical reimbursement policies, high cost of the devices and low market penetration.
The major players of the industry are names such as Medtronic Inc., Abbott Diabetes care and Dexcom Inc. Medtronic’s CGM system, named the Guardian Real Time system, accounted for a market share of over 40% in the year 2012. Its first arrival in the market, proper marketing and positioning and ease of use helped the system in achieving a leading position in the market.
The device G4 Platinum from Dexcom is the most recently introduced (2012) as well as the most technologically developed device in the market currently. The market share of this device is estimated to rise at the rate of CAGR 22.6% in the coming five years. In addition, companies like Johnson & Johnson and tandem Diabetes care are looking to integrate their services with this device by marketing insulin pumps with it, adding further to the growth of its market share and the collective market of CGM systems.
Geographically speaking, North America was able to capture major shares of the global CGM market in the year 2012. The European CGM market contributed the most to the total global CGM market revenues in 2012.
However, in the coming five years, Asia-Pacific is forecasted to be the fastest growing market with a CAGR of 16.9% as a result of economic developments, rising patient-pool and increasing awareness about diabetic care and such advanced devices for better diabetic management.
Browse All Market Press Releases @ http://www.transparencymarketresearch.com/press-releases.htm
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with a highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
90 Sate Street, Suite 700
Albany, NY 12207
USA/Canada Toll Free: 866-552-3453