CGM system is a type of device that monitors glucose by a biosensor, which is inserted through the transcutaneous or subcutaneous route.
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Continuous glucose monitoring market (CGM) is a latest technological advancement in the field of diabetes management.
This embedded sensor measures glucose levels in interstitial fluid or blood, and transmits the information using a transmitter to a receiver/monitor to display the results. The use of CGM systems is crucial to avoid diabetic complications, as this technology can be used to periodically monitor the glucose levels.
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Therefore, glucose monitoring device manufacturing companies focus on the development of novel and technologically advanced CGMS. It offers a wide range of applications for all age cohorts, healthcare settings (diagnostic centers/clinics, hospital ICUs, and home healthcare), and geographies.
Thus, CGMS market poses lucrative opportunities for both CGMS manufacturers and insulin pump manufacturers.
The European CGMS market generated $58 million in 2015, and is projected to reach $792 million by 2022, expanding at a CAGR of 44.9% during the forecast period. High-tech CGMS devices, such as wearable & smartphone-connected CGMS, non-invasive CGMS, smartphone-connected CGMS, and “smart” diabetes management solution (also called artificial/bionic pancreas), are expected to result in higher adoption of CGMS among endocrinologists and patients.
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The market is categorized based on component, demographics, end user, and country. The component segment includes durable components such as transmitters & receivers and integrated insulin pumps; and disposable components such as sensors.
Sensors occupy a dominant share in the European CGMS market owing to short life span of these devices, recurring sales of CGMS, and bulk purchases. Therefore, they are deployed in diagnostic centers/clinics.
Moreover, the adoption of CGMS in hospital ICUs and in-home healthcare settings has increased in recent years. End users of CGMS devices are diabetic patients, categorized into child population (≤14 years) and adult population (>14 years).
The report includes comprehensive analysis and segmentation of different countries in Europe, including UK, France, Germany, Spain, Italy, the Netherlands, Norway, Sweden, Denmark, Finland, and rest of Europe.
Major strategies adopted by market players are collaborations, product launches, and product approvals. Agreement/partnership strategy by companies enables greater focus on innovation, distribution, and commercialization of devices.
For instance, in 2016, Senseonics signed an agreement with Roche to commercialize Senseonics’ Eversense continuous glucose monitoring system. Under this agreement, Roche can sell its CGM systems in Germany, Italy, and the Netherlands
KEY BENEFITS FOR STAKEHOLDERS
- In-depth and country-level analysis provides the current trends and future estimations in the European CGMS market from 2014 to 2022, which would enable stakeholders to capitalize on the prevailing market opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- In-depth analysis of current research and clinical developments within the European CGMS market is provided along with the key dynamic factors.
- The key players in the European CGMS market are profiled, along with their development strategies, to understand the competitive outlook.
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