The Global CGMS Market size is estimated to be USD 1.65 billion in 2019 and is predicted to reach USD 15.66 billion by 2030 with a CAGR of 22.7% from 2020-2030. CGMS is also known as continuous glucose monitoring system which is used for the continuous monitoring of glucose in diabetic patient. CGMS constant monitor the glucose level in case of increase and decrease in the glucose level above and below limits alert the patient. It also helps in the reduction in complications related to diabetes and it offer various benefits above glucose monitors in intensive care.
Market Dynamics and Trends
The increase in healthcare facilities and infrastructure coupled with increased prevalence of diabetes over the forecast period is expected to drive the growth of market. Furthermore, increase in intensive care and home care coupled with increase in wearable devices and technological advancement is expected to further propel the growth of CGMS market.
The other factor driving the growth of the market include increase in geriatric population and increase in chronic disorder which led to the development of diabetes in , changing lifestyle and others. However, lack of proper reimbursement policies and high cost o wearable devices are expected to impede the market growth over the forecast period. Increase in research and development and technological advancement in the CGMS are expected to create ample opportunities in the market.
Market Segmentations and Scope of the Study:
The global CGMS market share is analyzed on the basis of component, end user, and geography. On the basis of component, the market is segmented into Sensors, Transmitters & Receivers, and Integrated Insulin Pumps. On the basis of end users, the market is divided into Diagnostics/Clinics, ICUs, and Home Healthcare. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America represents the developed markets and anticipated to hold the major market share over the forecast period. The attributed factors include increased prevalence of diabetes, increase in intensive care coupled with increased awareness among people and technological advancement are expected to contribute the market growth.
Asia Pacific is expected to develop at a significant rate over the forecast period owing to the presence of emerging economies coupled with increase in geriatric population and increase accessibility to healthcare facilities are further expected to augment the growth of CGMS market.
Competitive Landscape
The CGMS Industry, which is highly competitive, consists of a various market players. Some of the major market players include, Dexcom Inc., Medtronic plc., Abbott Laboratories, Ypsomed AG., Roche Diagnostics, Insulet Corporation, Sensonic Corporation, Novo Nordisk, Bayer AG, and Animas Corporation among others.
There have been various developments in the market which further expected to support the overall growth of the market size. For instance, in June 2019, Abbott laboratories has presented data for adults with type 2 diabetes on intensive insulin, late-breaking data presented at the recent American Diabetes Association (ADA) 79th Scientific Sessions in San Francisco showed average HbA1c dropped from 8.9% to 8% with at least three months of using the FreeStyle Libre continuous glucose monitoring (CGM) system1 – closer to the ADA's recommended HbA1c target of 7% for people living with diabetes.
KEY BENEFITS
- The CGMS market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the CGMS market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the CGMS market is provided in the report.
- The competitive analysis of the market players along with their market share in the global CGMS market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global CGMS market – By Component
- Sensors
- Transmitters & Receivers
- Integrated Insulin Pumps
- Global CGMS market – By End User
- Diagnostics/Clinics
- ICUs
- Home Healthcare
- Global CGMS market –By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- RoW
- UAE
- Saudi Arabia
- South Africa
- Brazil
- Rest of RoW
- North America