Global Continuous Glucose Monitoring Systems (CGMS) Market By Component (Sensors, Transmitters & Receivers, Integrated Insulin pumps), End User (Diagnostic centersclinics, ICUs, Home Healthcare)
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The Global Continuous Glucose Monitoring Systems Market Size is expected to reach $3.6 billion by 2022, growing at a CAGR of 28.2% during 2016 -2022.
The Continuous Glucose Monitoring Systems (CGMS) has emerged as a very effective diabetes management tool used in monitoring all types of diabetic patients. Replacementrepeat sales of components such as sensors would be the major factor that would drive the CGM market growth. Continuous glucose monitoring is very effective in monitoring patients who are suffering from hypo and hyperglycemic conditions. The CGMS market is expected to reach $3.6 billion by 2022, with a CAGR of 28.2% from 2016 to 2022.
Rising incidences of diabetes around the world, benefits of CGMS devices over POC glucometers, growing awareness about diabetes in developing and underdeveloped economies, and growing focus on developing CGMS devices to serve new end user segment are a few leading factors that would drive the growth of CGMS market. FDA approval to the novel and innovative products such as bionic pancreas would also significantly contribute to the market growth of the CGMS market. The CGMS is a relatively more efficient monitoring and treatment system for patients suffering from diabetes. However, lack of effective reimbursement system for devices and clinicians would be a major barrier to the adoption of the devices. The report highlights the adoption of Continuous Glucose Monitoring Systems, globally.
Based on the Component, the Global Continuous Glucose Monitoring Systems Market is segmented into Sensors, Transmitters & Receivers and Integrated Insulin pumps segment. Based on the End user, the market is bifurcated into Diagnostic centersclinics, ICUs and Home Healthcare segments. The geographies included in the report are North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Key Players profiled in the report includes Roche Diagnostics, Abbott Laboratories, Dexcom Inc., Novo Nordisk, Ypsomed AG, GlySens Incorporated, Medtronic Plc and Johnson & Johnson.