Continuous Glucose Monitoring Market is expected to reach USD 27.49 billion by 2025, from USD 12.73 billion in 2017 growing at a CAGR of 10.1% during the forecast period of 2018 to 2025. The continuous glucose monitoring market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Continuous glucose monitoring device is defined as that device which automatically monitors blood glucose level day and night .This device is inserted inside the skin, usually on belly and arm. This device measures the interstitial glucose level in the cells of the body. A transmitter wirelessly sends the information to a monitor. According to the statistics, in 2017, life scan one touch ultra was the most preferred blood-glucose meter brand in the United States with sales of about USD 37.45 million (Current Year Statistic Will Be Provided in Report). Some of the major players operating in the global continuous glucose monitoring market are
- C8 MediSensors
- Integrity Applications
- OrSense Ltd
- Sontra Medical Corporation
- F.Hoffmann-La Roche Ltd
- Johnson & Johnson Services
- Wyeth LLC
- GlaxoSmithKline plc
- Koninklijke Philips N.V.
- Thermo Fisher Scientific
- General Electric Company
Other players are Ipsen, ARKRAY, Nova Biomedical, OakTree-Health, Omnis Health LLC, ReliOn, Simple Diagnostics, US Diagnostics, Novo Nordisk A/S, A. Menarini Diagnostics S.r.l.,Vitrex Medical A/S, custo med GmbH. The global continuous glucose monitoring market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global continuous glucose monitoring market for global, Europe, North America, Asia Pacific and South America.
According to the The Centers for Disease Control and Prevention (CDC), in 2017, 23.1 million people suffered from diabetes in U.S. The 84.1 million adult which is 33.9% of the adult U.S. population have prediabetes in U.S. According to Seeking Alpha, in 2015, 415 million people were suffering from diabetes and the number is expected to grow to 642 million in 2040. In 2040 the number will be one out of 10. High blood sugar is the third major risk factor for premature mortality, after high blood pressure and tobacco use.
- In 2015, about 5 million people died from diabetes. Due the increasing number of diabetic cases all over the world the demand of continuous glucose monitoring market is rising.
- For Instance, in 2016, AgaMatrix(U.S) launched CGM(iPhone-connected glucometer) this meter could be the first medical device plugin to connect to Apple’s iPhone.
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Major Market Drivers and Restraints:
- Rising incidences of people suffering from diabetes.
- Early detection of hypoglycaemic and hyperglycaemic diabetes.
- Increasing technological innovations.
- Lack of adequate reimbursement for devices is the key barrier to the adoption of the devices.
Market Segmentation: Global Continuous Glucose Monitoring Market
The global continuous glucose monitoring market is segmented based on product type, testing, patient care setting application and geographical segments.
- Based on product type, the market is segmented into
- Receivers segments
- On the basis of testing sites, the market is classified into
- Fingertip testing
- Alternate site testing
- On the basis of patient care settings, the market is segmented into
- Self/home care
- Hospitals & clinics
- On the basis of applications, the market is segmented into
- Type 2 diabetes
- Type 1 diabetes
- Gestational diabetes
- Type 2 Diabetes and type 1 diabetes are subsegmented into adults, pediatrics.
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Key Developments in the Market:
- In 2010, Abbott (U.S.) launched FreeStyle Navigator II. It is a small, light weighted and comfortable to wear and has capsulated battery in the transmitter and a capsule reloaded battery cell in the receiver which is last for one to two years.
- In 2011, C8 Medisensors (U.S) launched new continuous glucose monitoring device which name is “HG1-c device.This device based on the principal of Raman spectroscopy.In this device painless monochromatic light is transmitted into the skin, and the scattered light is detected for the determination of glucose level.
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