Global Continuous Glucose Monitoring Systems Market Size, Share, Forecast Report, 2020-2027
The global continuous glucose monitoring systems (CGMS) market size was valued at $1,774.2 million in 2019, and is projected to reach $8,844.9 million by 2027, registering a CAGR of 22.0% during the forecast period. Continuous glucose monitoring (CGM) is one of the latest technological advancements in the field of diabetes management. CGM system is a type of glucose monitoring device that functions by inserting a biosensor through transcutaneous or subcutaneous route. The embedded sensor measures the glucose levels in interstitial fluid or blood, and transmits the information using a transmitter to a receiver/monitor for displaying the results. These systems play an integral role in diabetes management, owing to their associated several advantages over other glucose monitoring devices. Unlike conventional galucose monitors, these systems enable periodic monitoring of glucose levels, which is crucial for avoiding diabetic complications. In addition, CGMS technology has laid a roadmap to the most awaited, high-tech, closed-loop artificial/bionic pancreas. Therefore, development of novel and technologically advanced CGMS is the prime focus of glucose monitoring device manufacturing companies. It offers a wide range of applications for all age-cohorts, healthcare settings (diagnostic centers/clinics, hospital ICUs, and home healthcare), and geographies. Thus, continuous glucose monitoring systems market provides lucrative opportunities for both CGMS manufacturers and insulin pump manufacturers.
The major factors that drive the growth include surge in geriatric population and high prevalence of population suffering from diabetes. According to the International Diabetes Federation, the number of diabetic population is expected to reach 642 million by 2040 as compared to 415 million patients in 2015, worldwide. Thus, one out of every ten adults is expected to have diabetes by 2040, which reveals the graveness of this pandemic. Therefore, the treatment, and management of diabetes is expected to be the prime focus areas of healthcare departments and stakeholders, globally. The increase in incidence of diabetic cases is expected to provide high continuous glucose monitoring systems market growth and opportunities, which in turn will attract and compel numerous market players to develop innovative products or product line extensions. The aforementioned factors are expected to boost the overall growth of the market. However, lack of adequate reimbursement for devices is the key barrier to the adoption of the devices. On the contrary, high growth opportunities in the untapped markets are expected to provide significant profitable opportunities for manufacturers in the near future.
The continuous glucose monitoring systems market is categorized based on component, demographics, end user, and region. Based on component, the market is segmented into transmitters & receivers and integrated insulin pumps; and sensors. On the basis of demographics, CGMS are categorized into child population (≤14 years) and adult population (>14 years). Based on end user, it is classified into clinics and diagnostics centers, ICUs, and home healthcare. Region wise the continuous glucose monitoring systems market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Component segment review
On the basis of component, the continuous glucose monitoring systems market is segmented into durable components such as transmitters & receivers and integrated insulin pumps; and disposable components such as sensors. The sensors segment was the major revenue contributor in 2019, and is anticipated to continue this trend during the forecast period, owing to recurring sales of CGMS, short scrap life, and bulk purchases. Therefore, it is deployed in diagnostic centers/clinics. Moreover, the adoption of CGMS in hospital ICUs and in-home healthcare settings has increased in the recent years.
Demographics segment review
Depending on the demographics, the continuous glucose monitoring systems market is categorized into child population (≤14 years) and adult population (>14 years). The adult population (>14 years) segment is projected to exhibit the highest growth during the forecast period. This is attributed to the fact that CGMS is considered as a perfect tool to control diabetes in the adult population, as CGMS is a “ready-to-go” treatment, effective for diabetes management, and affordable for the working class/employed individuals and thus, it has been widely accepted by this age group.
Region segment review
Region wise, the continuous glucose monitoring systems market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the continuous glucose monitoring systems market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to increase in geriatric population, rise in incidence of diabetes, surge in demand for wireless & portable systems, and availability of sophisticated reimbursement structure that aims at reducing expenditure.
The key players profiled in the continuous glucose monitoring systems market include Abbott Laboratories, Dexcom, Inc., A. Menarini Diagnostics, Echo Therapeutics, Inc., GlySens Incorporated, Johnson & Johnson, Medtronic plc, Senseonics Holdings, Inc., and F. Hoffmann-La Roche Ltd. The major strategies adopted by market players are collaborations, product launches, and product approvals. The adoption of collaboration strategy by companies enables greater focus on innovation, distribution, and commercialization of devices.
This report provides a detailed quantitative analysis of the current continuous glucose monitoring systems market trends and forecast estimations from 2020 to 2027, which assists to identify the prevailing market opportunities.
An in-depth continuous glucose monitoring systems market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the continuous glucose monitoring systems market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook.
Key Market Segments
By Component
By Demographics
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
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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