The Continuous Glucose Monitoring Market report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Continuous Glucose Monitoring market. It provides a comprehensive evaluation of the global Continuous Glucose Monitoring market from various perspectives to deliver a detailed, informative, and precise analysis of regional growth, competition, and market segmentation, among other factors. Moreover, it also gives an accurate account of the significant breakthroughs and developments that influence the global Continuous Glucose Monitoring market. It also focuses on both the global as well as the regional expansion of the Continuous Glucose Monitoring industry to give an overall analysis.
The global continuous glucose monitoring system market size reached USD 4.31 billion in 2020 and is expected to register a revenue CAGR of 19.6% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of diabetes and increasing demand for continuous glucose monitoring systems for better diabetes management are expected to support market revenue growth between 2021 and 2028. Besides, increasing usage of continuous glucose monitoring systems during clinical studies will continue to boost revenue growth of the market.
According to the National Center for Biotechnology Information, continuous glucose monitoring systems outperform Self-Monitoring Blood Glucose (SMBG) systems in clinical studies including gestational diabetes mellitus. Additionally, development of more technologically advanced systems to control diabetes will boost product acceptance going ahead. These are some major factors driving growth of the global continuous glucose monitoring system market revenue. However, concerns regarding accuracy for detecting hypoglycemia ranges and high cost of continuous glucose monitoring systems are expected to hamper market revenue growth during to some extent the forecast period.
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in RD activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Major companies in the market report include Medtronic plc, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Johnson Johnson Services, Inc., Dexcom, Inc., Echo Therapeutics, Inc., Senseonics Holdings, Inc., A. Menarini Diagnostics Ltd., GlySens Incorporated, and Ypsomed Holding AG
Some Key Highlights From the Report
- Sensor segment is expected to expand at a substantially rapid revenue CAGR during the forecast period as sensor, which employs glucose oxidase to monitor glucose levels, is a key component of continuous glucose monitoring systems.
- Adult (14 years) segment is expected to register a significantly robust revenue growth rate over the forecast period because of the growing geriatric population.
- Hospital segment is expected to register a significantly robust revenue growth rate over the forecast period. Growing use of continuous glucose monitoring systems in hospital settings for the detection of blood sugar levels in patients with diabetes mellitus is driving growth of the segment.
Emergen Research has segmented global continuous glucose monitoring system on the basis of component, demographics, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Integrated Insulin Pumps
- Transmitters Receivers
- Sensors
Demographics Outlook (Revenue, USD Billion; 2018–2028)
- Child (≤14 years)
- Adult (14 years)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Clinics
- Home Healthcare
- Others
Key Points of Continuous Glucose Monitoring Market:
- Extensive coverage of the analysis of the Continuous Glucose Monitoring market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Continuous Glucose Monitoring market
- Complete data about the key manufacturers and vendors in the Continuous Glucose Monitoring market
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