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2020
Continuous Glucose Monitoring Systems Market

Continuous Glucose Monitoring Systems Market

by Components (Sensors, Transmitters & Receivers, and Integrated Insulin Pumps), Demographics (Child Population (<=14years), and Adult Population (>14years), and End User (Clinics and Diagnostics Centers, ICUs, and Home Healthcare): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A01466
Pages: 267
Apr 2020 | 58525 Views
Author(s) : Kavita J , Onkar S
Tables: 136
Charts: 42
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COVID-19

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Continuous Glucose Monitoring Systems Market Overview:

The global continuous glucose monitoring systems (CGMS) market size was valued at $1,774.2 million in 2019, and is projected to reach $8,844.9 million by 2027, registering a CAGR of 22.0% during the forecast period. Continuous glucose monitoring (CGM) is one of the latest technological advancements in the field of diabetes management. CGM system is a type of glucose monitoring device that functions by inserting a biosensor through transcutaneous or subcutaneous route. The embedded sensor measures the glucose levels in interstitial fluid or blood, and transmits the information using a transmitter to a receiver/monitor for displaying the results. These systems play an integral role in diabetes management, owing to their associated several advantages over other glucose monitoring devices. Unlike conventional galucose monitors, these systems enable periodic monitoring of glucose levels, which is crucial for avoiding diabetic complications. In addition, CGMS technology has laid a roadmap to the most awaited, high-tech, closed-loop artificial/bionic pancreas. Therefore, development of novel and technologically advanced CGMS is the prime focus of glucose monitoring device manufacturing companies. It offers a wide range of applications for all age-cohorts, healthcare settings (diagnostic centers/clinics, hospital ICUs, and home healthcare), and geographies. Thus, continuous glucose monitoring systems market provides lucrative opportunities for both CGMS manufacturers and insulin pump manufacturers.

Infographics Continous-Glucose-Monitoring-Systems-Market-2020-2027

The major factors that drive the growth include surge in geriatric population and high prevalence of population suffering from diabetes. According to the International Diabetes Federation, the number of diabetic population is expected to reach 642 million by 2040 as compared to 415 million patients in 2015, worldwide. Thus, one out of every ten adults is expected to have diabetes by 2040, which reveals the graveness of this pandemic. Therefore, the treatment, and management of diabetes is expected to be the prime focus areas of healthcare departments and stakeholders, globally. The increase in incidence of diabetic cases is expected to provide high continuous glucose monitoring systems market growth and opportunities, which in turn will attract and compel numerous market players to develop innovative products or product line extensions. The aforementioned factors are expected to boost the overall growth of the market. However, lack of adequate reimbursement for devices is the key barrier to the adoption of the devices. On the contrary, high growth opportunities in the untapped markets are expected to provide significant profitable opportunities for manufacturers in the near future.

The continuous glucose monitoring systems market is categorized based on component, demographics, end user, and region. Based on component, the market is segmented into transmitters & receivers and integrated insulin pumps; and sensors. On the basis of demographics, CGMS are categorized into child population (≤14 years) and adult population (>14 years). Based on end user, it is classified into clinics and diagnostics centers, ICUs, and home healthcare. Region wise the continuous glucose monitoring systems market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Component segment review

On the basis of component, the continuous glucose monitoring systems market is segmented into durable components such as transmitters & receivers and integrated insulin pumps; and disposable components such as sensors. The sensors segment was the major revenue contributor in 2019, and is anticipated to continue this trend during the forecast period, owing to recurring sales of CGMS, short scrap life, and bulk purchases. Therefore, it is deployed in diagnostic centers/clinics. Moreover, the adoption of CGMS in hospital ICUs and in-home healthcare settings has increased in the recent years. 

Continuous Glucose Monitoring Systems Market
By Component

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Integrated Insulin Pumps holds the dominant position in 2019 and would continue to maintain the lead over the forecast period.

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Demographics segment review

Depending on the demographics, the continuous glucose monitoring systems market is categorized into child population (≤14 years) and adult population (>14 years). The adult population (>14 years) segment is projected to exhibit the highest growth during the forecast period. This is attributed to the fact that CGMS is considered as a perfect tool to control diabetes in the adult population, as CGMS is a “ready-to-go” treatment, effective for diabetes management, and affordable for the working class/employed individuals and thus, it has been widely accepted by this age group.

Continuous Glucose Monitoring Systems Market
By Demographics

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Child Population (<14years) segment is projected as one of the most lucrative segments.

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Region segment review

Region wise, the continuous glucose monitoring systems market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the continuous glucose monitoring systems market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to increase in geriatric population, rise in incidence of diabetes, surge in demand for wireless & portable systems, and availability of sophisticated reimbursement structure that aims at reducing expenditure.

Continuous Glucose Monitoring Systems Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific region would exhibit the highest CAGR of 26.9 % during 2019-2026.

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The key players profiled in the continuous glucose monitoring systems market include Abbott Laboratories, Dexcom, Inc., A. Menarini Diagnostics, Echo Therapeutics, Inc., GlySens Incorporated, Johnson & Johnson, Medtronic plc, Senseonics Holdings, Inc., and F. Hoffmann-La Roche Ltd. The major strategies adopted by market players are collaborations, product launches, and product approvals. The adoption of collaboration strategy by companies enables greater focus on innovation, distribution, and commercialization of devices.

Key Benefits For Stakeholders

  • This report provides a detailed quantitative analysis of the current continuous glucose monitoring systems market trends and forecast estimations from 2020 to 2027, which assists to identify the prevailing market opportunities. 

  • An in-depth continuous glucose monitoring systems market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.

  • A comprehensive analysis of factors that drive and restrain the growth of the global is provided.

  • The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.

  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.

  • Key market players within the continuous glucose monitoring systems market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook.

Key Market Segments

By Component

  • Sensors 
  • Transmitters & Receivers 
  • Integrated Insulin Pumps

By Demographics

  • Child Population (≤14 years)
  • Adult Population (>14 years)
  • By End User
  • Diagnostics/Clinics
  • ICUs
  • Home Healthcare

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Norway
    • Sweden
    • Denmark
    • Finland
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Australia
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil 
    • Venezuela
    • Saudi Arabia 
    • South Africa
    • Argentina
    • Rest of LAMEA
 

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CGM systems are one of the latest advanced technologies that monitor the patient’s glucose levels at regular intervals. These systems are user-friendly and highly accurate. CGM systems help to manage diabetes by providing real time values of the glucose levels and alert the patient in case of hypo or hyperglycemia. This helps reduce the probability of any complications related to diabetes. In addition, CGMS offers varied benefits over other glucose monitors in monitoring the blood glucose levels of ICU patients. The conventional POC and SMBG devices impart discomfort or pain in patients. Therefore, CGMS are preferred over SMBG/POC devices. Undiagnosed geriatric patient population is expected to provide an attractive market opportunity for integrated CGMS developers. Often, the geriatric patients suffer from multiple and chronic diseases that require various medications and at much higher frequency intervals, as compared to the other cohorts. 

Due to the growth in demand for advanced CGMS devices, the technology has been revolutionized. For instance, smartphone-connected CGMS are the devices that connect with a smartphone’s built-in activity monitor, GPS, scheduling systems, contacts, camera, and voice activation, and sub-sequentially display results and trend analyses. 

The market is projected to gain traction in the developing regions of Asia-Pacific, Africa, and Latin America. The large undiagnosed patient populations, rapid urbanization, rise in disposable incomes, and improved government funding toward healthcare are the factors projected to contribute toward the market growth in these regions. However, pressing concerns related to the cost of device are expected to hamper the market growth during the forecast period, especially in the underdeveloped and developing countries, such as India and China.


 

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FREQUENTLY ASKED QUESTIONS?

A. The total value of Global Continous Glucose Monitoring Systems market was $1,774.26 million in 2019.

A. The forecast period in the report is from 2020-2027.

A. The market value of Global Continous Glucose Monitoring Systems market in 2019 was $2,194.45 million.

A. The base year calculated is 2019 in the report.

A. As per the key industry leaders, rise in prevalance of diabetes across the globe boons the market growth of global continous glucose monitoring systems market.

A. Surge in technological advancements in the monitoring devices.

A. The growth % of the emerging economies such as India, China, Australia is 27.7%, 27.3%, 26.1% respectively.

A. Sensors segment holds the maximum market share.

A. Yes, the report provide the value chain analysis.

A. North America market holds the maximum market share of the around 44% market.

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