New Jersey, United States – Continuous Glucose Monitoring Systems Market 2022 – 2028, Size, Share, and Trends Analysis Research Report Segmented with Type, Component, Application, Growth Rate, Region, and Forecast | key companies profiled -Abbott Laboratories, Dexcom Inc, Menarini Diagnostics, and others.
One of the most recent technical developments in the field of managing diabetes is continuous glucose monitoring (CGM). A biosensor is inserted into a CGM system, a type of glucose monitoring device, via a transcutaneous or subcutaneous method. The embedded sensor detects the levels of glucose in blood or interstitial fluid and transfers the data via a transmitter to a receiver/monitor for the purpose of showing the findings. Due to their numerous advantages over traditional glucose monitoring devices, these systems play a crucial part in the management of diabetes. These devices, as opposed to conventional glucose monitors, allow for routine glucose monitoring, which is essential for preventing diabetic complications. Additionally, the most anticipated high-tech, closed-loop artificial/bionic pancreas has a roadmap thanks to CGMS technology.
According to our latest report, the Continuous Glucose Monitoring Systems market, which was valued at US$ million in 2022, is expected to grow at a CAGR of approximate percent over the forecast period.
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Therefore, companies that produce glucose monitoring devices are primarily focused on developing unique and cutting-edge CGMS. It provides a broad range of applications for all age cohorts, healthcare environments (diagnostic centres/clinics, hospital ICUs, and home healthcare), and geographical regions. As a result, the market for continuous glucose monitoring devices offers significant potential for both CGMS and insulin pump producers.
The prevalence of diabetes is increasing, and more cutting-edge products are being introduced on a regular basis. The size of the worldwide blood glucose monitoring system market was validated, and the size of additional related submarkets was estimated, using top-down and bottom-up methods. Secondary sources include annual reports, press releases, the World Health Organization (WHO), the American Diabetes Association, the Juvenile Diabetes Research Foundation, and the Madras Diabetes Research Foundation (MDRF), Chinese Diabetes Society, Brazilian Diabetes Society, Latin American Diabetes Association (ALAD), European Association for the Study of Diabetes, Russian Diabetes Federation, and American Association of Diabetes Educators are among the organizations that study diabetes (AADE), Press releases, directories, trade publications, databases, and company annual reports have all been used to find and gather data for this market analysis. Experts from the supply and demand sides of the industry have been contacted as primary sources to gather information, verify it, and assess the market’s dynamics.
Division Segment:
By Component: The continuous glucose monitoring systems market is divided into consumable components like sensors and transmitters and receivers and integrated insulin pumps, as well as durable components like these.
Due to recurring sales of CGMS, a short scrap life, and bulk purchases, the sensors segment was the largest contributor to revenue in 2019 and is expected to maintain this trend during the forecast period. As a result, it is used in diagnostic facilities and clinics. Additionally, CGMS usage in hospital ICUs and at-home healthcare settings has grown recently. And based on the end-user, It is divided into clinics and diagnostic facilities, intensive care units, and home healthcare.
Regional Analysis:
The continuous glucose monitoring systems market was dominated by North America in 2022, accounting for the largest share, and it is projected that this trend will continue during the forecast period. The rise in diabetes incidence, the ageing population, the surge in demand for wireless and portable equipment, and the availability of a complex reimbursement mechanism intended to cut costs. Due to rising diabetes management awareness among the general public and escalating demand for blood glucose monitoring systems for routine patient monitoring at home, the European market is predicted to grow at a healthy yearly pace. Due to the rising frequency of insulin-dependent diabetes and the rising number of geriatric residents in Asia Pacific, a significant annual rate is predicted. Additionally, diabetes sufferers in nations like Australia and Japan have a keen interest in having their blood sugar levels regularly checked. This is in addition to significant players placing more emphasis on expanding their direct presence in developing nations.
Competitive Analysis:
Some of the key players in the market are:
• Abbott Laboratories
• Dexcom, Inc.,
• Menarini Diagnostics,
• Echo Therapeutics, Inc.,
• GlySens Incorporated
• Johnson & Johnson,
• Medtronic plc,
• Senseonics Holdings, Inc.,
• F. Hoffmann-La Roche Ltd.
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- The Report looks at how the Continuous Glucose Monitoring Systems industry is likely to develop in the future.
- Using Porter’s five forces analysis, it investigates several perspectives on the Continuous Glucose Monitoring Systems market.
- This Continuous Glucose Monitoring Systems market study examines the product type that is expected to dominate the market, as well as the regions that are expected to grow the most rapidly throughout the projected period.
- It identifies recent advancements, Continuous Glucose Monitoring Systems market shares, and important market participants’ tactics.
- It examines the competitive landscape, including significant firms’ Continuous Glucose Monitoring Systems market share and accepted growth strategies over the last five years.
- The research includes complete company profiles for the leading Continuous Glucose Monitoring Systems market players, including product offers, important financial information, current developments, SWOT analysis, and strategies.
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