A
research study titled, “Continuous Glucose Monitoring Devices Market by Product
and End User – Global Industry Analysis and Forecast to 2025” published by
Crystal Market Research, states that the continuous glucose monitoring devices
market is projected to be around $1.1 billion by 2025.
Continuous
glucose monitoring (CGM) devices are used to measure glucose levels throughout
the day and night. A sensor is placed under the skin which measures the glucose
level in tissue fluid. A transmitter is connected to the sensor which transfers
information via wireless radio frequency. This transmitter is connected to
monitoring and display device. Diabetes is a chronic disease which is
classified into type 1 and type 2. Diabetes occurs either when the pancreas
does not produce enough insulin or when the body cannot effectively use the
insulin. The symptoms of diabetes are frequent urination, blurred vision,
increased thirst, rapid weight loss, numbness or tingling sensation in hands or
feet and increased hunger. Factors which increase the risk of diabetes are
ethnicity, family history of diabetes, and physical inactivity. The exact
causes of type 1 diabetes are unknown. Type 1 diabetes can be caused due to
complex interaction between genes and environmental factors. The strongest risk
factors for type 2 diabetes are overweight and obesity. Diabetes can damage the
heart, eyes, blood vessels, kidneys, and nerves which may lead to disability
and premature death. People with diabetes are likely to incur disastrous
personal health expenditure. According to a study conducted by American
Diabetes Association, 415 million people worldwide suffered from diabetes and
diabetes related complications as of 2015, and this number is expected to reach
642 million by 2040. Over the past three decades, the predominance of diabetes
is increasing, but it is growing at a higher rate in low and middle income
countries. As per International Diabetes Federation, about80% of the
diabetic population resides in low and middle income countries.
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User - Global Industry Analysis and Forecast to 2025” at:
Insulin
pumps segment will witness a robust growth during the forecast period, while
transmitters and receivers segment occupied a major share of the CGM devices
market in 2016.Sensors are disposable components of the CGM systems which need
to be replaced every 57 days. Homecare diagnostics segment dominated the global
market in 2016, due to high convenience offered by CGM devices in homecare
settings for regular monitoring of blood glucose.
North
America held a major share of the overall market in 2015. This is attributed to
factors such as high predominance of diabetes, growing geriatric population,
and improving reimbursement policies. U.S. dominated the North American
market owing to the presence of advanced healthcare infrastructure and high
disposable income of Americans. Asia-Pacific will bring in significant growth
opportunities over the forecast period as the awareness about patient
monitoring systems is on the rise along with increased healthcare expenditure.
Technological
advancements are set to drive the competitive CGM devices market during the
forecast period. Key players are highly focused on developing innovative
products to sustain the market competition. For instance, in September 2015,
Medtronic launched the MiniMed connect system enabling smartphone connectivity
for CGM. In September 2016, Abbott received FDA approval for Freestyle Libre
Pro GGM System designed to provide clear visual snapshots of patients’ glucose
levels. In January 2017, Dexcom launched Dexcom CLARITY Diabetes Management
Solution in EMEA. This software simplifies CGM data reporting and management.
Major
players in the CGM devices market are Dexcom, Inc., Johnson and Johnson,
Insulet Corporation, Medtronic, Abbott Laboratories, Echo Therapeutics, Inc.,
Tandem Diabetes Care, Inc., Nemaura Medical Inc., F. Hoffmann-La Roche AG,
Senseonics Holdings, Inc., and GlySens Incorporated.
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Continuous Glucose Monitoring Devices Market Research Report @: https://www.crystalmarketresearch.com/report-sample/HC0621
Key
Findings of the Research Study:
- Transmitters
and receivers segment held the largest share of the global CGM devices
market in 2016.
- Insulin
pumps segment will grow with the highest CAGR over the forecast period;
these are highly recommended over multiple daily injections for most
patients suffering from type 1 diabetes.
- North
America held a major share of the global market in 2016, due to the
presence of large patient base and increasing demand for advanced patient
monitoring systems.
- Asia-Pacific
is expected to grow at the highest CAGR throughout the forecast period.
This is attributed to factors such as the increasing prevalence of
diabetes, sedentary lifestyle, and increasing patient awareness
about benefits of CGM devices with rise in disposable income of people.
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more about this report @: https://www.crystalmarketresearch.com/send-an-enquiry/HC0621
About Crystal Market Research
Crystal
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company. Crystal offers one stop solution for market research, business
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decisions. It provides both syndicated as well as customized research studies
for its customers spread across the globe. The company offers market
intelligence reports across a broad range of industries including healthcare,
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