Continuous Glucose Monitoring Devices Market To Reach USD 14.7 Billion By 2026 | key Players: Dexcom, Abbott Laboratories, Pfizer Inc. Baxter International, etc

April 28 02:00 2021
Continuous Glucose Monitoring Devices Market To Reach USD 14.7 Billion By 2026 | key Players: Dexcom, Abbott Laboratories, Pfizer Inc. Baxter International, etc

Continuous Glucose Monitoring Devices Market
The Continuous Glucose Monitoring devices market was valued at USD 3.45 Billion in 2019 and is estimated to reach USD 14.7 billion by 2026, growing at a CAGR of 19.2%.

High incidence of diabetes, increasing geriatric population & continuous technological advancements across the globe are the key factors contributing to high CAGR of Continuous Glucose Monitoring devices market during forecast period.

Market Size – USD 3.45 Billion in 2019, Market Growth – CAGR of 19.2%, Market Trends – Collaborations, technological developments and product launches for precise & non-evasive Glucose monitoring.

According to a report by Reports and Data, the Continuous Glucose Monitoring devices market was valued at USD 3.45 Billion in 2019 and is estimated to reach USD 14.7 billion by 2026, growing at a CAGR of 19.2%. Estimating and identifying appropriate blood glucose level in patients through continuous glucose monitoring (CGM) devices is a vital component of therapy success. Continuous glucose monitoring evolved from enzyme-based electrochemical glucose sensors. It is an instrument with a small sensor attached with a transmitter for daily diabetes management. The Continuous Glucose Monitoring devices aid in better diabetes management by proactively tracking glucose level fluctuations in interstitial fluid as a basis for improving metabolic control. CGM devices help in reducing the risk of hyperglycemia & hypoglycemia.

The global spread of diabetes along with increasing geriatric population and continuous technological advancements have propelled the market growth of the CGM devices. According to the WHO, Diabetes is increasing at an alarming rate in the United States, and nearly 30.3 million people, or 9.4% of the U.S. population, have diabetes. An estimated 23.1 million people – or 7.2% of the population – had diagnosed diabetes. North America accounts for the largest share in the global continuous glucose monitoring devices market due to government initiatives undertaken for prevention of diabetes and treatment support along with the presence of dominant players in this region, technological advancements in the drug discovery procedures, growing rate of obesity in the region, sedentary lifestyle and techno savvy population.

Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.

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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Continuous Glucose Monitoring Devices Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.

Key findings of the report:

Insulin Pumps segment is expected to attain the highest CAGR of 15.6% due to technological developments aiding advanced diabetes care management the region where geriatric population is growing such as China and India.

Transmitters & Receivers has been the largest segment due to its critical importance in the devices. It is expected to maintain its market share dominance in the forecast period.

Based on End-use, Homecare settings segment has the largest market share due to advanced technological developments in the market and ease of use of the CGM devices; that enables the healthcare providers to provide best of the services to their patients

Several personal CGM systems are available in the United States for daily use by people with diabetes. For instance, the Abbott FreeStyle Libre flash CGM system received FDA approval in September 2017 for stand-alone use. This sensor and transmitter system requires no calibrations or fingerstick blood glucose confirmations to make diabetes treatment decisions.

North America accounts for the largest share in the global continuous glucose monitoring devices due to government initiatives undertaken for prevention of diabetes and treatment support and holds a dominant market share in 2018. It is projected to maintain its position during the forecast period with the market share of 33.7%.

Europe has trailed the North American region in terms of revenue generation due to increasing adoption of these devices by countries such as Germany, Italy, France and Spain.

High prevalence of diabetes in some of the developing countries like India & China in the Asia Pacific region, has successfully propelled the growth of the CGM devices market. It is expected to register a highest CAGR of 15.0% in the forecast period.

The increasing incidence of diabetes patients would require focus on healthcare and would directly contribute to the growth of the target market. Furthermore, the factors that lead to diabetes such as obesity, dietary deficiency, high calorie intake, high cholesterol, smoking and excessive alcohol consumption contribute to the market growth indirectly.

According to WHO, average medical expenditures for people with diagnosed diabetes were about USD13, 700 per year about USD 7,900 of this amount was attributed to diabetes. It is expected to support the demand for CGM devices and positively influence the market growth.

Key participants include Dexcom, Abbott Laboratories, Pfizer Inc., Inc. Baxter International, Menarini Diagnostics, Johnson & Johnson, Medtronic PLC, Animas Corporation, and Novo Nordisk A/S, ARKRAY, Inc., Bayer AG, Terumo Medical Corporation, Echo Therapeutics, Inc.; Medtronic PLC; F. Hoffmann-La Roche Ltd., GlySens Incorporated.

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For the purpose of this study, the global Continuous Glucose Monitoring Devices market has been segmented on the basis of disease type, application, distribution channel, and region:

By Component (Revenue, USD Million; 2016-2026)

Insulin Pumps

Transmitters & receivers

Sensors

By End-Use (Revenue, USD Million; 2016-2026)

Hospitals

Homecare settings

Others

By Region (Revenue, USD Million; 2017-2027)

         North America

  • U.S.
  • Canada

         Europe

  • Germany
  • U.K.
  • France
  • BENELUX
  • Rest of Europe

         Asia Pacific

  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific

         Latin America

  • Brazil
  • Rest of Latin America

         Middle East & Africa

  • Saudi Arabia
  • U.A.E.
  • Rest of Middle East & Africa

Table Of Contents:

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018 – 2026

Chapter 3. Indicative Metrics

    3.1. Technological advancements

    3.2. Global burden of diabetes

    3.3. Increasing geriatric population

Chapter 4. Continuous Glucose Monitoring devices Segmentation & Impact Analysis

    4.1. Continuous Glucose Monitoring devices Segmentation Analysis

    4.2. Continuous Glucose Monitoring devices Market Value Chain Analysis, 2016-2026

    4.3. Regulatory framework

    4.4. Continuous Glucose Monitoring devices Market Impact Analysis

         4.4.1. Market driver analysis

                 4.4.1.1. High prevalence of diabetes globally

                 4.4.1.2. Aging demographics

                 4.4.1.3. Launch of technologically advanced products

        4.4.2. Market restraint analysis

                 4.4.2.1. Inadequate reimbursement

                 4.4.2.2. High cost associated with the application of CGM devices

    4.5. Key opportunities prioritized

    4.6. Continuous Glucose Monitoring devices Pricing Analysis

    4.7. Industry analysis – Porter’s

    4.8. Continuous Glucose Monitoring devices PESTEL Analysis

Continued…

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