New York, NY 17 May 2019:
The global continuous glucose monitoring market size is anticipated to reach USD 1,325.9 million by 2025 growing at a CAGR of 15.8% from 2019 to 2025 according to a new report published by Polaris Market Research. The report ‘Continuous Glucose Monitoring (CGM) Market Share, Size, Trends, & Industry Analysis Report, By Components type (Transmitters & Receivers, Sensor, Insulin Pumps), By end users (Hospitals, Homecare Diagnostics, Others); By Region: Segment Forecast, 2019 – 2025’ provides insights on the current market scenario and the prospects.
In 2018, by segment type sensors capture the largest market shares in terms of revenue and hold major share in the market. Regionally, North America accounted for the major share in the wearable medical device market.
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The market is primarily driven by rising prevalence of diabetes globally and increased calling for glucose level testing instantly. Moreover, this innovative technology allowing quick access for analyzing blood glucose level that will stimulate the entire industry. Additionally, increasing awareness for the use of these devices in the developing countries would also propel CGM market in coming years. Furthermore, rising need for the diagnosis of hyperglycemic and hypoglycemic conditions in an individual, and increasing opportunities in the developing countries with the increasing need of research and development by the key players also support the market growth. However, stringent regulatory policies and expensive systems would hinder the market growth during the forecast period.
On the basis of component type, in 2018, transmitters & receiver holds the major market share. While, sensor component type will be on a leading position during the forecast period. The sensors would hold major share owning to its advantages such as user-friendly technology and increasing awareness for testing blood glucose level in a less time frame.
End users of continuous glucose monitoring are the hospitals, and homecare diagnostics. Homecare diagnostics holds the major share in the CGM market due to, continuous innovations of products that do not require hospital staff intervention for operating these devices.
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Geographically, North America holds a dominating position in the global continuous glucose monitoring (CGM) market followed by Europe and Asia Pacific. The growth in the North America wearable medical device market is basically driven growing rate of obesity in this region, sedentary lifestyle rising prevalence of diabetes, and techno savvy population in North America. While, Asia Pacific is poised to grow at a faster rate during the forecast period.
The leading companies operating in this industry include Dexcom Inc., Roche Diagnostics, Medtronic plc., Novo Nordisk, Abbott Laboratories, Animas Corporation, Ypsomed AG., Bayer AG, Insulet Corporation, and Sensonic Corporation.
Key Findings from the study suggest CGM available in the market are continuously concentrating on the technological advancements. The leading companies while developing new systems focusing on the ease of the operation for the patients without hospital staff interventions. Regionally, North America is presumed to dominate the global continuous glucose monitoring market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
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Polaris Market Research has segmented the global continuous glucose monitoring market on the basis of component type, end user and region:
Continuous Glucose Monitoring Component Type Outlook (Revenue, USD Million, 2015 – 2025)
- Transmitters & Receivers
- Insulin Pumps
Continuous Glucose Monitoring End User Outlook (Revenue, USD Million, 2015 – 2025)
- Homecare Diagnostics
Continuous Glucose Monitoring Regional Outlook (Revenue, USD Million, 2015 – 2025)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.