Seattle, WA, Aug-12, 2018 — / True Industry News / —
Rapid increase in demand for CGM devices, especially in emerging economies, is mainly attributed to increasing consumer awareness regarding the importance of monitoring presence of glucose in the body in order to sustain a healthy life
The global continuous glucose monitoring market was valued at US$ 2,035.8 million in 2015 and is expected to expand at a CAGR of 24.5% during the period 2018–2026.
A CGM system is more expensive than a standard glucose meter, as the sensor lifespan is a major factor affecting the cost, inconvenience, and user acceptance. Also, health plans, insurance companies, and governments in most countries do not provide reimbursement for CGM. This has reduced the adoption of CGM among patients due to high cost of around US$ 3,000 per year, per patient according to US National Library of Medicine National Institutes of Health. According to the Diabetes Council, earlier Medicare has refused to cover CGM sensors, receivers, and transmitters, stating they are simply ‘convenience items’ and are not eligible for coverage. However, in 2017, Medicare announced the coverage of Dexcom’s G5 Mobile CGM under Durable Medical Equipment status.
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The Continuous Glucose Monitoring Market research report covers the present scenario and the growth prospects of the global Continuous Glucose Monitoring industry for 2018-2026. The report enlists several important factors, starting from the basics to advanced market intelligence which play a crucial part in strategizing.
Continuous Glucose Monitoring market report provides key statistics on the market status of the Continuous Glucose Monitoring manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Continuous Glucose Monitoring industry. The Continuous Glucose Monitoring market report also presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market.
Key Vendors of Continuous Glucose Monitoring Market: Major players in the global continuous glucose monitoring market include Abbott Laboratories, Roche Diagnostics, Dexcom Inc., Bayer AG, Medtronic, Inc., Animas Corporation, Nova Biomedical Corporation, Ypsomed AG, GlySens Incorporated, Insulet Corporation, and Sensionics Incorporated.
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Continuous Glucose Monitoring market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.
Regions of Continuous Glucose Monitoring market:
Key questions answered in Continuous Glucose Monitoring market report:
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
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The global continuous glucose monitoring devices market is expected to exhibit a CAGR of 22.7% over the forecast period, owing to rising prevalence of diabetes and increasing patient awareness
Among components, the sensors segment is estimated to hold the dominant position in the Continuous Glucose Monitoring Devices market, in 2017, owing to higher sales as compared to other components.
North America holds a dominant position in the global continuous glucose monitoring devices market, owing to increasing number of product launches by major industry players and affordability among the population