Continuous Glucose Monitoring Device Market | Global Industry Report, 2027
The global Continuous Glucose Monitoring Device market gathered revenue around USD 5.1 Billion in 2020 and market is set to grow USD 11.45 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 10.56% during the prediction period 2021 to 2027.
Report Coverage
Growth Factors:
| Report Scope | Details |
| Market Size | USD 11.45 Billion by 2027 |
| Growth Rate | CAGR of 10.56% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Component, end use and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Medtronic; Dexcom, Inc.; F. Hoffmann-La Roche Ltd.; Abbott; Novo Nordisk A/S; Ypsomed; GlySens, Inc. |
The market Growing cases of diabetes and introduction of novel and advanced diabetes care devices are the major factors driving the market growth. Continuous glucose monitoring (CGM) devices provide an efficient method to measure body glucose levels in real time. Data recorded by these devices is transmitted through a wireless network to receivers; this helps keep a track of glucose levels over a designated period.
These devices also help manage diabetes while reducing individual insulin dosages. Integrated software within these devices provides users with insights about food consumption, medication, physical activity, and illnesses. Thus, an increasing number of diabetic patients are using these devices to manage and treat diabetes, which, in turn, is accelerating market growth. With the advent of digital therapeutics, a rising number of continuous glucose monitoring devices are being incorporated with apps and software to help patients with diabetes mellitus. Rise in the number of diabetes mellitus has been contributing toward continuous glucose monitoring (CGM) systems market growth.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Continuous Glucose Monitoring Device market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Continuous Glucose Monitoring Device market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Continuous Glucose Monitoring Device market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional Insights
North America was the dominant regional market in 2020 and accounted for a revenue share of over 40%. The regional market will expand further at a steady CAGR from 2021 to 2027 retaining its leading industry position owing to the presence of a well-established healthcare sector in the region. The increasing prevalence of obesity, the presence of efficient reimbursement policies, and growing awareness about advanced technologies in diabetes management are also expected to drive the regional market.
On the other hand, Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2027. The number of diabetic patients is rising in Asia Pacific region in comparison to other parts of the world. According to the International Diabetes Federation, India and China account for the largest number of diabetic patients in the world. The increase in obesity cases and growing socio-economic changes have fueled the occurrence of type I and type II diabetes.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Continuous Glucose Monitoring Device Market include: Medtronic; Dexcom, Inc.; F. Hoffmann-La Roche Ltd.; Abbott; Novo Nordisk A/S; Ypsomed; GlySens, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Continuous Glucose Monitoring Device market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Continuous Glucose Monitoring Device market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Continuous Glucose Monitoring Device markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Continuous Glucose Monitoring Device market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers