Global Continuous Glucose Monitoring (CGM) Market - Growth, Trends and Forecasts (2019-2024) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 2, 2019--The “Continuous Glucose Monitoring (CGM) Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
As per WHO data, approximately half of all mortality can be associated with high blood glucose levels, which occur before the age of 70 years.
WHO also expects diabetes to be the seventh-leading cause of mortality by 2030. For patients reliant on insulin pumps or daily insulin injections, the CGM establishes itself to be an instrumental tool, which helps in the enhancement of glycemic balance without increasing the danger of fatal hypoglycemia.
As studied in several clinical trials, diabetic patients with Type 1 diabetes mellitus (T1DM) have been shown to have better glycemic control, in comparison to when glucometer is used for routine self-monitoring blood glucose.
The trend follows in children, as well as those who use a CGM on a regular basis. The results in these children show better-glycosylated hemoglobin (HbA1c) levels without an amplified frequency of hypoglycemia.
The current CGM models approved administer glucose oxidase-based electrochemical subcutaneous sensors for the detection of glucose levels in the interstitial fluid.
Complete Information about Blood Glucose Patterns & Trends
CGMs are used to provide a further descriptive representation of blood glucose patterns and tendencies than what can be achieved by conventional routine checking of glucose levels at set intervals.
The current CGM devices can either retrospectively display the trends in the levels of blood glucose by downloading the data or give a real-time picture of glucose levels through receiver displays.
Most of the real-time CGMs have the capability to offer an alert to patients, parents, or caregivers during actual or pending glycemic visits, in order to facilitate timely management of blood glucose.
This factor, along with the fact that CGM devices are becoming cheaper with the advent of new technologies, like cell phone integration, is likely to drive the steady growth of the CGM market during the forecast period.
North America will Maintain Dominance in the Market
In North America, the United States accounted for close to 97% of the market value in 2017. By 2019, the continuous glucose monitoring market in the United States is expected to be valued at USD 1175.5 million.
The United States also accounts for the highest CAGR of 13.2%. It is imperative that the CGM devices be used alongside insulin pumps. As the trends show a higher number of diabetic patients using insulin pumps for diabetes management, it can be predicted that the number of units of CGM devices sold will also follow.
A major share of the market is held by CGM manufacturers that are concomitant with strategy-based M&A operations and are constantly entering new markets to generate new revenue streams and to boost existing ones.
These measures taken by the market players will ensure a competitive market place, therefore, forcing the companies to experiment with more new technologies, in order to ensure uniqueness in their products.
Also, one of the implications of the competition in the market is that it will ensure a constant decrease in the average selling price of the CGM units produced.
For instance, in December 2017, Abbott’s new FreeStyle Libre Flash Glucose Monitoring System was approved, which is the first continuous blood sugar monitor for diabetics that does not need backup finger prick tests, Abbott has also priced the new device substantially lower than its competitors, which will help the company to strengthen its position in the CGM market during the forecast period.
In January 2016, Ypsomed AG appointed TD Pharmaceutical (Tonghua Dongbau Pharmaceutical) as the exclusive distributor for its range of products in China; hence, reinforcing their pre-existing partnership.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.4 Porter’s Five Forces Analysis
5 Market Segmentation
5.1 Continuous Blood Glucose Monitoring
5.1.1 By Component (Value and Volume, 2012-2024)
5.2.1 North America
5.2.3 Latin America
5.2.5 Middle East & Africa
6 MARKET INDICATORS
6.1 Type 1 Diabetes Population (2012-2024)
6.2 Type 2 Diabetes Population (2012-2024)
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott Diabetes Care
7.2 Company Share Analysis
7.2.1 Abbott Diabetes Care
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/research/hg2s87/global_continuous?w=4
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Related Topics:Glucose Testing,Diabetes Devices ,Wearable Technology
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES DIABETES
SOURCE: Research and Markets
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PUB: 04/02/2019 01:28 PM/DISC: 04/02/2019 01:28 PM