Continuous Glucose Monitoring Devices/Systems Market, Report, 2024 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Continuous Glucose Monitoring Devices/Systems Market


The global Continuous Glucose Monitoring Devices/Systems market size is projected to reach US$ 1305.31 million by 2026, from US$ 604.16 million in 2020, at a CAGR of 13.7% during 2021-2026. Growing cases of diabetes, coupled with increasing adoption of continuous glucose monitoring (CGM) devices, has been driving the market. CGM systems are minimally invasive and offer an easy and effective way to manage diabetes. They can also detect drastic changes in blood glucose level, thereby preventing hypoglycemic conditions.

These devices facilitate analysis of blood glucose levels at different time intervals with the help of a sensor. Respective readings fed into to a diabetes management software through a wireless network allow patients to understand the disease better, thereby helping them to manage it in a more effective way.

Smoking, obesity, physical inactivity, and high blood pressure and high cholesterol are the common risk factors associated with diabetes complications. According to the data published inNational Diabetes Statistics Report 2017 by Centers for Disease Control and Prevention (CDC) indicate diabetes as the seventh leading cause of death in U.S.

It also provides patients with insights about food consumption, medication, physical activities, and illnesses. The advent of digital therapeutics has further aided CGM device manufacturers to reach out to diabetic patients. Various apps are available in the market that integrate data collected from CGM devices for future trend analysis and subsequent changes to be made in the patients lifestyle. All these factors are expected to have a positive impact on the market growth.

Market Segmentation, Outlook & Viewpoint: Global Continuous Glucose Monitoring Devices/Systems Market

Component Market Segmentation & Outlook (Revenue, USD Million, 2013 - 2024)

  
Transmitters & Receivers
  
Sensors
  
Insulin Pumps

End-use Market Segmentation & Outlook (Revenue, USD Million, 2013 - 2024)

  
Hospitals
  
Homecare Settings
  
Others

Key Players, Recent Developments & Regional Insights: Global Continuous Glucose Monitoring Devices/Systems Market

Based on component type, the CGM systems market is segmented into transmitters and receivers, sensors, and insulin pumps. Since transmitters and receivers are the most integral part of these devices, they accounted for the largest market share in the past. A transmitter works along with receiver to collect the readings from sensor and displays the results on device monitor.

A battery-powered, hand-held receiver that displays the results receives signals from the transmitter. The receiver also displays various graphs and statistics that can be used for customization of medication, which is helpful for individuals suffering from hyperglycemic or hypoglycemic conditions.
Insulin pumps segment is anticipated to expand at the highest CAGR of 15.3% during the forecast period. These devices are designed specifically to administer insulin levels. Insulin pumps eliminate the need of individual glucose injections while delivering insulin more accurately and reducing unpredictable effects of intermediate or long-acting insulin.

CGM sensors are the most sophisticated part of the device. These sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated into the transmitter.

End-use Insights

On the basis of end use, the market is segmented into hospitals, homecare settings, and others such as clinical laboratories and diagnostic centers. Homecare settings segment led the global market and is anticipated to witness the highest CAGR during the forecast period. These devices offer patients with reduced intake of insulin doses and facilitate continuous monitoring of blood glucose levels. Homecare settings are expected to fuel the demand for CGM devices because of efficient and easy monitoring of blood glucose.

Rising number of hospital visits for diabetes treatment are responsible for the increasing adoption of these devices in hospitals. Complications caused due to diabetes, such as retinopathy, nephropathy, and neuropathic, require hospital admissions. Thus, hospital settings are also anticipated to capture a significant market share in the near future.

Regional Insights

The North American region is expected to lead the global market. Increasing cases of diabetes and efforts taken by the national government to manage the disease at a larger level are expected to drive the regions growth. Rising adoption of alternate and novel devices have been witnessed in the region, accelerating market growth.

Preventive measures taken by the government to help diabetic individuals understand and manage the disease before serious consequences occur are the key driver for the regional market.The region is expected to flourish owing to technological advancements and substantial research and innovation in diabetes care.

Asia Pacific region is anticipated to witness the highest CAGR during the forecast period. According to the Asian Diabetes Prevention Initiative, almost 60% of the worlds diabetic population resides in the Asia Pacific region. High prevalence of the disease in developing countries such as India and China has been propelling market growth in the region. Moreover, rising healthcare expenditure, increasing investment by companies, and favorable regulatory policies are also positively affecting the market growth in this region.

Continuous Glucose Monitoring Systems Market Share Insights

The market constitutes a large number of global and regional companies. Some of the key players in the industry are Pfizer Inc.; Baxter International Inc.; Abbott Laboratories; Medtronic, Inc.; Animas Corporation; Novo Nordisk; Ypsomed; and GlySens. Most of these leading companies are involved in strategic collaborations, mergers and acquisitions, and regional expansions to gain high revenue share in the industry.
For instance, in January 2016, Ypsomed AG strengthened their existing partnership with Tonghua Dongbau Pharmaceutical, appointing it as their exclusive distributor for their range of products in China.

Companies are also increasingly developing new products, which has further aided in the expansion of their existing portfolio with advanced technologies. For instance, in February, 2016 Animas Corporation announced the launch of Animas Academy in the Ireland and U.K., which is an educational program for individuals managing diabetes with an insulin pump and supplementary technology associated with it.

Key Insights Covered: Global Continuous Glucose Monitoring Devices/Systems Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Continuous Glucose Monitoring Devices/Systems industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Continuous Glucose Monitoring Devices/Systems industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Continuous Glucose Monitoring Devices/Systems industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Continuous Glucose Monitoring Devices/Systems industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Continuous Glucose Monitoring Devices/Systems industry.

Research Methodology: Global Continuous Glucose Monitoring Devices/Systems Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other