Continuous Glucose Monitoring Market (CGM Systems, Application, Diabetic Type, and Adoption by Age Group) - Current Trends, Size, Share, Industry Analysis, Competitive Intelligence, Growth, Opportunities and Global Forecasts, 2012 - 2020
Demand for innovative diabetic management devices worldwide has increased the adoption of CGM- Continuous Glucose Monitoring Devices. Major reason for rising popularity of CGMs is its efficiencies to stabilize the raised levels of A1C, which reduces the possibilities of a long term diabetic problem.
Other factors that drive the growth of CGM market are innovative technologies such as artificial pancreas, rising awareness in developed, under developed and developing nations, and rise in cases of diabetics. However, lack of reimbursements policies for CGM, stringent government regulations, lack of accuracy and higher costs are restricting the growth of market.
In the year 2012, global continuous glucose monitors market stood at $194.8 million. The report forecasts the market to reach $568.5 million by 2020, registering a CAGR of 14.8% during 2013-2020.
In the product segment analysis, insulin pump market would witness fastest growth followed by glucose sensors market. Factor that drives the growth of insulin pump market is insulin integration with CGMs, which is an important step to close the loop algorithm.
Further, the need to replace glucose sensors after every 4 to 7 days, glucose sensors market would generate maximum revenues during the projected period.
In terms of application market, Global CGM market consist of Diagnostics, Hospitals and Home settings. Home setting segment,, would be the maximum revenue generators by 2020.
North America is the leading geographical region in terms of revenue due to earlier adoption of advanced technology, higher adoption, reimbursements and rising patient pool. However, Asia Pacific would be the fasted growing geographical region owing to its rising patient pool, rise in incomes, and increasing penetration of key firms and rising standard of livings.
Top companies in the CGM market are Medtronics, Animas Corporation,Dexcom,Ypsomed AG, Miraculins, Inc and Omnipodcomprising others. Key strategies implemented by the market players are Collaborations, approvals and Product launches.
KEY BENEFITS OF THE REPORT
- The report ranks the factors that are responsible to accelerate the market growth driven by upper hand of CGM over Self-monitoring glucose devices, approval for artificial pancreas and many more
- Market is forecast for 2013 -2020, with market revenues for 2 historic years of 2010 and 2012
- Identification and analysis of of nvestment pockets for CGM manufacturers
- Identification of challenges that must be addressed and overcome in the CGM market to achieve fiscal success throughout the market
- Analysis of regulatory framework that controls the newly lauched CGM devices and provides you with detailed information on reimbursement policies
- The report identifies and profiles key market participants who would drive innovation in the CGM market
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