Continuous glucose monitoring
systems are real-time monitoring systems for checking glucose levels in the
body. The system consists of a tiny sensor inserted under the skin to test
glucose levels in the tissue fluid. The sensor stays in place for several days
to a week and then must be replaced. A transmitter sends information about
glucose levels via radio waves from the sensor to a pager-like wireless
monitor. The key advantage of continuous glucose monitoring is that it can help
identify fluctuations and trends that would otherwise go unnoticed with
standard HbA1c tests and intermittent finger stick measurements.
Development in the multi-parameter
mid-range patient monitoring devices can create a new opportunity for further
expansion. Collaboration with established local companies can be helpful for
manufacturers to provide effective services and maintain profit margins
simultaneously. Further cost reduction by integration of continuous glucose
monitors with insulin pumps can be helpful for CGMs to achieve significant
popularity among the price sensitive Asian consumers.
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The CGM systems market is a highly
specialized niche market; it can be further segmented into the market for
transmitters-receivers and the one for glucose. The U.S. is contributing the
maximum in terms of the total revenue earned from CGMs. The European market is
still in a nascent stage and contributes a small amount to the total revenue.
The Asia-Pacific region and Brazil also contribute very little to the global
revenues. The CGM systems markets in the U.S and Europe are growing at a fast pace
and estimated to reach to a three digit (in USD million) market size globally
at a CAGR of double digits. The rapid increase in the number of diabetes
patients is the major driving force for the estimated growth. The most
important driver for the CGM market in Europe is the need for a convenient,
affordable, and patient-friendly device that facilitates superior therapy
management for diabetes and this need can be fulfilled by CGM devices. In the
present scenario, the slow growth rate of the market in the Asian region is due
to the late launch of CGM systems and a slow acceptance of these systems in low
and middle income nations such as China and India due to the unaffordable
price. In Japan and Australia, various regulatory approvals are a hindrance for
the growth of the market.
Some of the market players in this
industry include Medtronic Inc., DexCom Inc., Abbott Diabetes Care Inc and
others.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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