Adoption of CGM- continuous glucose monitoring is a result of innovative diabetic management devices. Loopholes that exist in the present glucose monitoring devices are efficiently addressed by the pioneering CGM. With the help of continuous glucose monitoring, noteworthy progression has been possible to stabilize a high A1C level, which lower downs the risk of diabetic complications. Few other factors that contribute towards the market growth are technological modernization such as artificial pancreas, rising awareness among developed, developing and under developed economies, and rising pool of diabetic patients. Conversely, factors such as stern authoritarian impositions, lack of reimbursement options, less accurate results and high cost of the CGMs are impeding the growth of market. The report analyzed the global continuous glucose monitors market to generate revenue of $568.5 million by 2020, enrolling a CAGR of 14.8% during 2013-2020. This is due to technological advancements, to be exact, the launch of artificial pancreas, expediency that the CGMs have over self-monitoring glucose devices, and earlier detection of the hypo & hyperglycemic events by CGM.
In terms of application, the Global CGM market is divided into diagnostics, home settings, and hospitals. The home settings segment would be the maximum revenue generator by 2020.
North America generates maximum revenue due to wider adoption of advanced technologies, effective and well penetrated reimbursement policies, and rising cases of diabetics. Asia Pacific would grow fastest due to rising pool of patients, per capita income and awareness among the people.
Top market participants in the market are Medtronics, Animas Corporation, Dexcom, Omnipod and Miraculins, Inc, Ypsomed AG, inlcuding others. The main tactics adopted by the companies globally include collaborations, product launches and approvals. Collaborations in the regions focus on distribution and commercialization of the devices.
KEY MARKET SEGMENTS
GLOBAL MARKET, BY DEVICES
GLOBAL MARKET, BY APPLICATION
GLOBAL MARKET, BY AGE
GLOBAL MARKET, BY GEOGRAPHY