iCrowd Newswire – Jul 13, 2020
The Global Continuous Glucose Monitoring Systems (CGMS) Market is estimated to reach 22.0% during the forecast period 2020-2027. As per the detailed market study, the global continuous glucose monitoring systems industry is anticipated to reach $8,844.9 million by the end of the year 2027. According to the viewpoint of Research Analyst, the sensors segment under the component segment accounted for ~2/3rd of the market share in the global marketplace in the year 2019 and is estimated to dominate the marketplace over the forecast period. Also, the segment is anticipated to grow at the highest growth rate with a CAGR of 22.6% during the forecast period 2020-2027. The segment dominance and growth is attributed to the short scrap life and recurring sale of CGMS.
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Continuous glucose monitoring systems manage diabetes by offering alert to the patients and real-time values of glucose levels of hypo or hyperglycaemia. This system helps to reduce the probability of complications of diabetes.
The global continuous glucose monitoring systems market is driven by various growth factors such as rise in prevalence of diabetes, benefits offered by POC and CGMS glucometers and increase in adoption of CGMS in home care applications. Whereas, stringent regulatory policies and favourable reimbursement policies in the developing nations may restrain the market growth over the forecast period. On the contrary, emerging and untapped scope of the demand for CGMS in various nations and increasing awareness related to benefits and easy usage of CGMS offer significant opportunities for the market players operating in the global continuous glucose monitoring systems industry.
Segmentation Overview of the Global Continuous Glucose Monitoring Systems (CGMS) Market
The global continuous glucose monitoring systems market is categorized into various segments such as component, demographics and end user. These major market segments are further categorized into various sub-segments considering market determinants and geographic dynamics.
The Component Segment of the Global Continuous Glucose Monitoring Systems Market is Sub-Segmented into:
- Integrated Insulin Pumps
- Transmitters & Receivers
The Demographics Segment of the Global Continuous Glucose Monitoring Systems Market is Sub-Segmented into:
- Adult Population (>14 years)
- Child Population (≤14 years)
The End User Segment of the Global Continuous Glucose Monitoring Systems Market is Sub-Segmented into:
- Home Healthcare
Competitive Insights of the Global Continuous Glucose Monitoring Systems (CGMS) Market
Dthera Sciences, Noom, Inc., Mango Health Inc., Canary Health Inc., Welldoc, Inc., Voluntis, Inc., Resmed, Inc. (Propeller Health), Proteus Digital Health, Inc., Pear Therapeutics, Inc., OmadaHealth, Inc., Medtronic Plc, Livongo Health, Inc., Fitbit, Inc. (Twine Health, Inc.) and 2MORROW, Inc. are some major key players included in the research study of the global continuous monitoring systems market.
Geographical Overview of the Global Continuous Glucose Monitoring Systems (CGMS) Market
As per the geographical studies, the North America CGMS market dominated the global marketplace in terms of market revenue in the year 2019. The regional dominance is attributed to early adoption of novel technologies and increase in wellness trend. However, the Asia-Pacific CGMS market is anticipated to witness the high growth with substantial CAGR over the forecast period, owing to high-population based countries such as China and India.
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Keywords: Continuous Glucose Monitoring Systems (CGMS) Market