Continuous Glucose Monitoring Systems Market
The Continuous Glucose Monitoring Systems Market was valued at USD 1.76 billion in 2019 and is predicted to reach USD 13.81 billion by 2030 with a CAGR of 20.6% during the forecast period.
Continuous Glucose Monitoring is an advanced medical technology for people suffering from diabetes to keep track over their glucose levels for a particular period. This device also helps diabetic patients to moderate their insulin dosage. Growing incidences of diabetes worldwide, advantages of CGMS devices over POC glucometers, rise in awareness in developing and underdeveloped economies, and technological advancements with regard to developing specialized CGMS devices are some of the factors driving the continuous glucose monitoring systems market growth. However, lack of adequate reimbursement for such devices is acting as the key barrier to the wide scale adoption of these devices. On the other hand, high growth prospects in the untapped markets are expected to provide lucrative opportunities for the device manufacturers in the near future.
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Top Companies: 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 and others.
The global Continuous Glucose Monitoring Systems market share has been analyzed 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, the market is classified into clinics and diagnostics centers, ICUs, and home healthcare. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America dominates the continuous glucose monitoring systems market and is anticipated to maintain this trend throughout the forecast period. This is attributed to factors such as the rising prevalence of diabetes among people and various government initiatives with regard to the reimbursement scenarios for such devices. Also, technological advancements and increasing R&D to bring down the cost and improve efficacy are some of the factors expected to propel the market growth in North America.
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