Industry Trend Analysis
The continuous glucose monitoring (CGM) devices market is expected to be around $1.1 billion by 2025. Rising incidence of diabetes worldwide, technological advancements in CGM devices (such as advent of artificial pancreas), and rising awareness about the availability of CGM devices are the factors responsible for the growth of this market. However, stringent regulations and expensive CGM devices are set to hamper the market growth.
Product Outlook and Trend Analysis
Transmitter and receivers segment accounted for the largest share of the overall market in 2016, whereas the insulin pumps market is projected to be the fastest-growing segment during the forecast period due to precise insulin delivery, decreasing episodes of severe hypoglycemia and high blood glucose control.
End User Outlook and Trend Analysis
Homecare diagnostics segment held the major share of the global market in 2016, due to efficiency and user-friendly nature of the CGM devices. Patients can use these devices without the technical support from hospital staff. Thus, the insulin can be administered by the patient itself.
Regional Outlook and Trend Analysis
North America accounted for the largest share of the overall market in 2014. This is attributed to increase in the number of obese patients, sedentary lifestyle and high adoption of advanced CGM devices. Asia-Pacific is expected to be the fastest growing region during the forecasted period, due to high patient population with rapidly aging population and increasing patient awareness about the availability of CGM devices with growing disposable income of people.
Abbott Laboratories, Nemaura Medical Inc., Insulet Corporation, Tandem Diabetes Care, Inc., Johnson and Johnson, Dexcom, Inc., F. Hoffmann-La Roche AG, Medtronic, Echo Therapeutics, Inc, Senseonics Holdings, Inc., and GlySens Incorporated are the major players operating in the continuous glucose monitoring devices market.
CGMS technology has opened up a new way for the most awaited, high-tech, closed-loop 'artificial/bionic pancreas'. The artificial pancreas can significantly improve diabetes care and management. It can reduce the burden of monitoring and managing blood glucose. Thus, development of artificial pancreas will bring in new growth avenues for the key players in the market.
Continuous Glucose Monitoring Devices Market Segmentation
Transmitters and Receivers
By End User:
Rest of Europe
Rest of Asia-Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?