Loading...

COVID‑19 Alert: Stay home if you feel unwell. If you have a fever, cough and difficulty breathing, seek medical attention. Follow the directions of your local health authority. Source WHO

We have a lockdown, "Working from HOME" Please reach out for any queries at: help@alliedmarketresearch.com & Int'l : +1-503-894-6022, (UK) : +44-845-528-1300

Continuous Glucose Monitoring Systems Market Expected to Reach $8,844.9 Million by 2027—Allied Market Research

 
 

quote CGMS are a more efficient monitoring and treatment alternative for patients with diabetes. Thus, FDA approval for the novel and innovative products such as artificial pancreas (dual-chambered investigational device that consists of a CGM, one insulin pump, and a control algorithm),is expected to further drive the CGMS market. quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Continuous Glucose Monitoring Systems Market by Component, Demographics, and End User:Opportunity Analysis and Industry Forecast, 2020–2027," the global continuous glucose monitoring systems market size was valued at $1.8 billion in 2019, and is projected to reach $8.8 billion by 2027, registering a CAGR of 22.0% during the forecast period. 

The continuous glucose monitoring systems (CGMS) market has emerged as a promising diabetes management tool for monitoring all types of diabetic patients. Replacement/repeat sales of components such as sensors, drive the growth of the continuous glucose monitoring systems market. Continuous glucose monitoring systems are mainly used by patients suffering from hypo and hyperglycemic conditions.

Rise in incidences of diabetes worldwide, benefits of CGMS devices over POC glucometers, increase in awareness in developing and underdeveloped economies, and technological advancements with focus on developing CGMS devices majorly drive the continuous glucose monitoring systems market growth. FDA approval for the novel and innovative products such as artificial pancreas (dual-chambered investigational device that consists of a continuous glucose monitoring system, one insulin pump, and a control algorithm) would further drive the continuous glucose monitoring systems market trend. Continuous glucose monitoring systems are a more efficient monitoring and treatment alternative for patients with diabetes. However, lack of adequate reimbursement for devices is the key barrier to the adoption of the devices.

Among components, sensors market contributed for the highest continuous glucose monitoring systems market share generating the revenue of $1,174.87 million in 2019 and will generate the largest market revenue of $6,087.22 million by 2027. Sensors market is expected to have the highest growth CAGR at 22.6% during the analysis period. CGM sensors are changed at a very higher frequency as compared to transmitters and receivers due to the limited life span of 5 to 7 days. They need to be changed at least once a week, for proper glucose monitoring in the patient’s body. Thus, the sensors are purchased in bulk and very frequently by customers. Bulk purchase is preferred as the manufacturers offer discount to the customers.  

Based on demographics, the continuous glucose monitoring systems market is bifurcated into adult and child population. According to IDF Atlas 7th edition, 4.72 billion adults and 1.92 billion children were diagnosed with diabetes in 2015. This number is expected to increase by 2040 and it is estimated that 9 billion adults and 6.16 billion children will be diagnosed with diabetes. As the percentage of adult population is high, it generated the largest market revenue of $1,758.74 million in 2019 and will register a CAGR of 22.0%. However, owing to the growth in demand for CGM devices for children, the children segment is expected to be the fastest growing segment, registering a CAGR of 22.9%.

Key Findings Of The Study 

  • The sensors segment contributed to nearly two-thirds share of the global continuous glucose monitoring systems market in 2019.

  • The integrated insulin pumps segment is projected to grow at a significant CAGR of 22.4% from 2020 to 2027.

  • The ICUs segment is projected to grow at a significant CAGR of 21.6% during the forecast period.

  • Germany and France are the major shareholders, which collectively accounted for more than one-fourth share of the European continuous glucose monitoring systems market in 2019.

  • Japan was the major shareholder that accounted for more than one-fourth share of the Asia-Pacific continuous glucose monitoring systems market in 2019.

In 2019, North America was the highest contributor to the market in terms of revenue, owing to increase in wellness trend and early adoption of novel technologies. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high populace countries such as India and China. 

The key players operating in the global 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.
 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote 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 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Continuous Glucose Monitoring Systems Market"
Purchase Enquiry