Continuous Glucose Monitoring (CGM) Devices

SEATTLE , WASHINGTON, UNITED STATES, January 12, 2022 /EINPresswire.com/ -- Continuous Glucose Monitoring (CGM) Devices Market report is a research database spread across various pages with multiple tables and figures in it. The research covers a valuable source of perceptive information for business strategists. Continuous Glucose Monitoring (CGM) Devices Industry provides the overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elegant description of the value chain and its distributor analysis.

Diabetes, growing at an exponential rate worldwide, has become a serious health concern globally. The disease has emerged as a major cause of death between the age group of 20 years to 80 years. Continuous research and investments are being made for effectively monitoring glucose levels which would in turn help in managing diabetes efficiently. Frequent monitoring of glucose levels is required for diabetes management so as to avoid life threatening risks such as retinopathy, heart diseases, stroke, kidney failure and others associated with hyper or hypo glycemic levels. The most extensively used glucose monitoring devices are blood glucose meters that are based on finger stick tests. However, the trend is shifting towards minimally invasive (CGM) or non-invasive glucose monitoring devices as these devices reduce the need for regular finger pricking and also lessen the pain.

The global continuous glucose monitoring (CGM) devices market was valued at US$ 3,807.3 million in 2018 and is expected to witness a robust CAGR of 24.8% over the forecast period (2019- 2027).

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Recent Developments

Major players operating in the global continuous glucose monitoring (CGM) devices market are focused on approval and launch of new products to expand their product portfolio. For instance, in 2016, Dexcom, Inc. received approval for Dexcom G5 Mobile CGM system from Health Canada for non-adjunctive use, thus making a new standard of care for diabetes management in Canada.

Global Continuous Glucose Monitoring (CGM) Devices Market: Drivers

The global continuous glucose monitoring (CGM) devices market growth is driven by high prevalence of diabetes. For instance, according to the study, ‘Global Prevalence of Type 2 Diabetes over the Next Ten Years (2018-2028)’, published by the American Diabetes Association, 500 million people worldwide suffered from type 2 diabetes in 2018.

Market Trends:

North America is expected to witness significant growth in the global continuous glucose monitoring (CGM) devices market, owing to high prevalence of diabetes in the region. For instance, according to International Diabetes Federation’s IDF Diabetes Atlas 2019 Edition, the numbers of adults with diabetes in the U.S. was 31.0 million.

Asia Pacific is also expected to witness significant growth in the global continuous glucose monitoring (CGM) devices market, owing to funding for adoption of CGM devices. For instance, in 2017, National Diabetes Services Scheme by the Government of Australia offered fully subsidized CGM products to eligible children and young people aged under 21 years with type 1 diabetes.

Global Continuous Glucose Monitoring (CGM) Devices Market: Restraints

Need for periodic calibration of the device is a major issue that may hinder the uptake of CGM devices. Most of the CGM systems currently available are based on minimally invasive approach that utilizes sensors to measure the glucose concentration level in the interstitial fluid. The sensors present in the device need to be changed periodically as they are prone to biofouling, which might lead to inaccurate readings. Hence, majority of the commercially available CGM devices are currently not used for making therapeutic decisions as the readings provided by the device might be inaccurate. In order to overcome this, finger stick testing is required on a daily basis for its calibration.

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𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐮𝐥𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.coherentmarketinsights.com/promo/buynow/57

Global Continuous Glucose Monitoring (CGM) Devices Market: Competitive Landscape

Major players operating in the global continuous glucose monitoring (CGM) devices market include, Abbott Laboratories, Dexcom, Inc., GE Healthcare, Glycens, Insulet Corporation, Medtronic, plc, Medtrum Technologies, Inc., Microchip Technology Inc., Micron Technology Inc., NXP Semiconductors, Nemaura Medical, Inc., Qualcomm, Senseonics, STMicroelectronics, Tandem Diabetes Care, Taiwan Semiconductor Manufacturing Company Limited, and Texas Instruments Inc.

Global Continuous Glucose Monitoring (CGM) Devices Market: Segmentation

On the basis of component, the global continuous glucose monitoring (CGM) devices market is segmented into:
• Transmitters
• Receivers
• Insulin Pumps
• Sensors

On the basis of region, the global continuous glucose monitoring (CGM) devices market is segmented into:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

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