CGMS Market to Grow at 20.6% CAGR by 2030
Surge in geriatric population and high population suffering from diabetes are some of the key driving factors of the market.
The Continuous Glucose Monitoring Systems Market is expected to grow at a CAGR of 20.6% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Continuous glucose monitoring system is a device that measures the glucose levels present in blood in real time or on a continuous basis. CGM devices provides an easy and effective way to control diabetes. Rise in incidences of diabetes worldwide, rising awareness in developing and underdeveloped economies, various advantages of CGMS devices over POC glucometers and underdeveloped economies, and technological advancements with major focus on developing CGMS devices majorly drive 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.
The global Continuous Glucose Monitoring Systems market share has been analysed 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.
Geographically, North America dominates the continuous glucose monitoring systems market, accounting for the highest share 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.
Browse key industry insights from the report, “Continuous Glucose Monitoring Systems Market by Components (Sensors, Transmitters & Receivers, and Integrated Insulin Pumps), Demographics (Child Population (<=14years), and Adult Population (>14years), and End User (Clinics and Diagnostics Centers, ICUs, and Home Healthcare) - Global Opportunity Analysis and Industry Forecast, 2020-2030”
According to the report, some of the key players in the market are 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 many more.
Key Insights from the Continuous Glucose Monitoring Systems Market Report:
- Current and emerging trends along with opportunities are extensively analysed in the continuous glucose monitoring systems market report.
- The forecast of the continuous glucose monitoring systems market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report continuous glucose monitoring systems market– is segmented by components, demographics, adult population, end user and geography.
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