Continuous Glucose Monitoring System (CGMS) is an advanced sensor technology used to track glucose level without pricking fingers. It is more effective & accessible for patients with type 2 diabetes (T2D). In it the glucose levels are taken from interstitial fluid. The system takes glucose measurements at regular intervals, 24 hours a day, and generates glucose direction & rate of change. The system involves reusable transmitters that provide real-time reading of glucose monitoring. It can help reduce the risk of hypoglycemia & hyperglycemia, whether users are on pump therapy or insulin injections. According to Centers for Disease Control and Prevention (CDC) report, in 2017, around 30.3 million people suffered from diabetes in the U.S. In September 2017, the FDA approved first CGMS that does not require fingerstick measurement calibration. Components of continuous glucose monitoring system include insulin pumps, transmitters & receivers, and sensors. The adult population makes more use of the system compared to children as the number of diabetic patients is more for adults.
Rise in adoption of the system, increase in prevalence of diabetes across the U.S., and rise in awareness among people are the key factors that is expected to drive the U.S. continuous glucose monitoring systems market during the forecast period. In addition, surge in need for hypoglycemic & hyperglycemic diagnosis and rise in demand for glucose level testing instantly is expected to boost the market in the coming years. Moreover, rise in opportunities in the U.S. with the surge in need for R & D by the key players is also expected to boost the growth of the market. However, expensive systems and stringent regulatory policies are the major restraints that are anticipated to hamper the growth of the market during the forecast period. In addition, increase in undiagnosed patient population and rise in product awareness is expected to provide numerous opportunities for the market in the coming years.
The market is segmented on the basis of component, age group, distribution channel, and end user. On the basis of component, it is categorized into insulin pumps, transmitters & receivers, and sensors. On the basis of age group, it is divided into adult and children. On the basis of distribution channel, it is segmented into retail pharmacy and online pharmacy. On the basis of end user, it is divided into hospitals, clinics, homecare diagnostics, and others.
Some of the major players operating in the U.S. continuous glucose monitoring systems (CGMS) market include Abbott Laboratories, Pfizer Inc., Baxter International Inc., Echo Therapeutics, Inc., Medtronic plc, F. Hoffmann-La Roche AG, Dexcom Inc., Animas Corporation, Novo Nordisk A/S, and GlySens Incorporated.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and market forecast estimations which assists to identify the prevailing U.S. continuous glucose monitoring systems (CGMS) market opportunities.
- An in-depth market analysis includes study of the market and is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate the U.S. plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided in the report.
- The projections in this report are made by analyzing the current market trends and future market potential in terms of value.
- An extensive analysis of the market provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the U.S. continuous glucose monitoring systems (CGMS) market.
U.S. Continuous Glucose Monitoring Systems (CGMS) Market Report Highlights
By Age Group
By Distribution channel
By End User
Key Market Players
, Animas Corporation, , Echo Therapeutics, Inc, Baxter International Inc, Abbott Laboratories, Pfizer Inc, , Medtronic plc,, F Hoffmann-La Roche AG, GlySens Incorporated, Novo Nordisk A/S, Dexcom Inc