Home  ›  Market Share of Continuous Glucose Monitors

Market Share of Continuous Glucose Monitors

Written By Thursday, 13 October 2022 Add Comment Edit
U.S. markets close in 4 hours 1 minute

  • S&P 500

  • Dow 30

  • Nasdaq

  • Russell 2000

  • Crude Oil

  • Gold

  • Silver

  • EUR/USD

  • 10-Yr Bond

  • GBP/USD

  • USD/JPY

  • BTC-USD

  • CMC Crypto 200

  • FTSE 100

  • Nikkei 225

Continuous Glucose Monitoring (CGM) Market to Reach $16.33 Billion by 2030, Growing at a CAGR of 11.5%

STRATEGIC MARKET RESEARCH LLP
STRATEGIC MARKET RESEARCH LLP

The Global Continuous Glucose Monitoring (CGM) Market Size is Expected to Grow from $6.13 Billion in 2021 to $16.33 Billion by 2030 at CAGR of 17.33% During the Forecast Period; Rising Incidence of Diabetes, New Product Launches and Government Initiatives is Poised to Drive the Industry Growth.

New York, USA, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The Global Continuous Glucose Monitoring Market's worth was USD 6.13 Billion in 2021 and will reach USD 16.33 Billion in 2030 with a 11.5% CAGR. One of the latest technological innovations in managing diabetes is Continuous Glucose Monitoring. Continuous glucose monitoring, which is also known as blood sugar monitoring, that automatically keeps the track of blood glucose levels throughout the day time and at night. Monitoring glucose levels in real-time can help make more informed decisions about maintaining physical activity, a balanced diet, and medications throughout the day. In CGM, a tiny sensor is inserted under the skin, usually on the belly or arm. The sensor detects interstitial glucose found in the fluid between cells. Every few minutes, the sensor checks the glucose level, and data is wirelessly transmitted to a monitor.

To get a first-hand overview of the report, Request a Sample at
https://www.strategicmarketresearch.com/request-sample/continuous-glucose-monitoring-market

Continuous Glucose Monitoring Market Insights:

  • The Sensor segment recorded the maximum share of 39% Based on the component.

  • The adult population is expected to be the fastest growing segment on the basis of demographics.

  • Based on application, the Type-2 diabetes segment accounted for the largest market share.

  • The home care segment had the biggest market share of more than 43% based on end-user.

  • For the Regional section, North America held a dominant position of more than 39% market share.

Factors influencing the Continuous Glucose Monitoring Market growth :

Factors like increased use of CGM devices in different markets, increased incidence of diabetes, etc., are driving its growth rate.

  • Diabetes prevalence is increasing due to a variety of factors, including rapid urbanization and a growing trend toward sedentary lifestyles in both emerging and developed countries. According to the International Diabetes Federation, it was expected that by 2021 there will be 537 million adults worldwide with diabetes, with Brazil, China, the United States, India, and Mexico accounting for an estimated 51.6% of those people. A significant factor in the rapid global adoption of these monitoring systems has been the rise in type-1 or insulin-dependent Type-2 diabetic patients. Furthermore, there is a growing demand for diabetes monitoring devices such as CGMs due to favourable reimbursement policies, a large population of patients with insulin-dependent diabetes, and the introduction of new products by industry players.
  • The introduction of cutting-edge technology, such as CGM systems by market players, has made real-time monitoring possible for patients with Type-2 diabetes or, rather, patients who are insulin-dependent. Additionally, CGM systems have a number of advantages over SMBG (Self-Monitoring Blood Glucose) systems, which includes offering real-time monitoring, being less invasive, and providing quick and accurate data. As a result, these distinctive benefits contribute immensely in increasing the patients' and healthcare professionals' understandings of CGM and its devices. Additionally, because of these benefits, CGM devices are used in various market segments, which enhance this market's growth over the forecasted period. For instance, according to the data statistics provided by Abbott, the number of FreeStyle Libre users increased from 3 million in 2020 to 4 million in 2021. As a result, the increased use of continuous glucose monitoring devices in various sectors will stimulate growth over the forecasted time frame.

Continuous Glucose Monitoring Market: A thorough Segmentation Analysis

The worldwide Continuous Glucose Monitoring Market segmentation has been done based on Component, Product, Demographics, Testing Site, End-user, Application, and Geography.

By Component:

  • Transmitters

  • Receivers

  • Sensors

  • Integrated Insulin Pumps

By Product:

  • CBM (Transmitters, Sensors, receiver)

  • SMBG Systems ( Blood Glucose Meters, Testing Strips, Lancets)

By Demographics:

  • Adult Population (>14 years)

  • Child Population (< 14 years)

By Testing Site:

  • Fingertip Testing

  • Alternate Site Testing

By End User

  • Home Healthcare

  • Diagnostics/Clinics

By Application

  • Type 1 Diabetes

  • Type 2 Diabetes

By region
North America

  • USA

  • Canada

  • Mexico

  • Rest of North-America

Asia-Pacific

  • Australia

  • India

  • Japan

  • China

  • South Korea

  • Rest of APAC

Europe Continent

  • Deutschland

  • France

  • Italy

  • The U.K.

  • Norway

  • Finland

  • Spain

  • Netherlands

  • Sweden

  • Denmark

LAMEA

  • Saudi Arab

  • Brazil

  • Argentina

  • South Africa

  • Venezuela

  • Rest of LAMEA

Make a Direct Purchase of the latest Continuous Glucose Monitoring MarketReport published in the month of Aug-2022 . Click the below link to initiate the purchase:
https://www.strategicmarketresearch.com/buy-now/continuous-glucose-monitoring-market

The Sensor segmentrecorded the maximum share of 39% in 2020 based on the component. This segment is also anticipated to have the fastest CAGR between 2021 and 2030. Sensors are the most advanced component of CGM devices, made up of a metallic filament that is thinner than a needle; it is inserted into the fatty layer under the skin. Sensor technology is slightly different from that used in transmitters and receivers. These components detect blood sugar levels using glucose oxidase. Platinum is combined with glucose oxidase in the sensor to produce and generate hydrogen peroxidase, which generates an electrical signal for the transmitter. The results are displayed on the device monitor by the receiver. Signals from the transmitter are received by a battery-powered, handheld receiver that displays the results. The receiver also displays and potrays various graphs and statistics which can be used to customize medication, which is useful for people with hypoglycemic or hyperglycemic conditions.

The adult population is expected to be the fastest growing segment during the forecast period on the basis of demographics. CGMs are considered suitable instruments for managing diabetes in the adult population as it is a ready-to-go treatment, a cost-efficient system for the working class, and very effective in managing diabetes, which leads to widespread adoption by this age group. As per a U.S. survey in 2019, 38% of the 23,000 children and adults who had been diagnosed with type 1 diabetes used CGM, with the majority of users between the age of 26 and 50.

Based on application, the Type-2 diabetes segment accounted for the largest market share in 2021. It is primarily due to the increasing incidence of Type-2 Diabetes patients dependent on insulin. For example, the International Diabetes Federation (IDF) estimated that 537 million people would have type-2 diabetes worldwide in 2021, with one in every ten diabetic patients at a risk of developing this disease. Additionally, CGM has been clinically effective in reducing the risk of hypoglycemia in people with type 1 diabetes and it is anticipated to be used more frequently in this Population.

The home care segment had the biggest market share of more than 43% in 2020, based on end-user, and it is anticipated to grow rapidly during the forecast period. The hospital category is expected to grow at the second-highest CAGR of almost 10% between 2021 and 2030. One of the factors driving this expansion is healthcare facilities to track patients with diabetes-Mellitus blood sugar levels and the use of the CGM device in hospitals. According to clinical studies reported by NCBI, CGM systems perform better than SMBG (Self-monitoring Blood Glucose devices) in terms of benefits for people with gestational diabetes-mellitus. The introduction of highly advanced diabetes treatment devices will further increase product acceptance in the hospital sector.

North America ruled the worldwide CGM devices, with more than 39% of the market share in 2020. Due to the well-established healthcare sector in this region, it is expected to grow during the forecast period. The factors boosting the growth of this region are the growing awareness about advanced technologies for diabetes control, the increasing incidence of obesity, and favourable reimbursement policies. Furthermore, Asia-Pacific is expected to be the fastest-growing regional market during 2021-2030. The Asia-Pacific region is experiencing an increase in the number of diabetic patients. India and China have the most diabetic patients worldwide, according to the International Diabetes Federation. Due to the rise in obesity cases and the rise in socioeconomic inequality, Type 1 and Type 2 diabetes have become very prominent.

Key players prevailing in Continuous Glucose Monitoring Market :

  • Abbott Laboratories

  • Dexcom, Inc.

  • LifeScan I.P. Holdings LLC

  • Medtronic plc

  • Terumo Corporation

  • Johnson & Johnson

  • GlySens Incorporated

  • A. Menarini Diagnostics

Before initiating a purchase, make a Pre-order enquiry and get a detailed overview of the content of the report.

https://www.strategicmarketresearch.com/pre-order-enquiry/continuous-glucose-monitoring-market

Report Coverage

Details

Forecast Period

2021-2030

Forecast Period 2021 to 2030 CAGR

CAGR of 11.5%

2030 Value Projection

$16.33 billion

Base Year

2020

Market Size in 2021

$6.13 billion

Historical Data for

2015-2019

No. of Pages

135

Companies

GlySens Incorporated, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Dexcom, Inc., Senseonics Holdings, Inc., A. Menarini Diagnostics, Medtronic plc, lifeScan IP Holdings, Echo Therapeutics, Inc., Johnson & Johnson, B Braun Melsungen AG, Terumo Corporation

Leading Segment Based on End-user

home care

Leading Region

North America

To read the summary of the report, visit the website at
https://www.strategicmarketresearch.com/market-report/continuous-glucose-monitoring-market

Recent Developments

  • On September 5, 2022, Cardiff University and GlucoRx announced the launch of the World's first non-invasive continuous glucose monitor, which will be a new era of needle-free monitoring for people with diabetes. It is a life-changing end-to-end diabetes monitoring system that can be discretely applied to the skin to track blood glucose levels and provide minute-by-minute readings to smart mobile applications.
  • On August 1, 2022, Dexcom and NHS England announced the availability of Dexcom ONE rt-CGM systems on prescription through Wales, NHS England, Scotland, and Northern Ireland drug tariff to patients with Type 1 or Type 2 diabetes using insulin. It is the first rt-CGM that does not require scanning and finger pricks, and Diabetes patients will have access to it at the pharmacy level.

  • The Empower Blood Glucose Monitor was released on July 12, 2022, by EMPOWER CLINICS INC, a pioneer in at-home testing solutions. The Empower Blood Glucose Monitor is a small medical device that measures the amount of glucose in a person's blood.

Related Reports

Orthopedics Power Tools Market
The report on Orthopedic Power Tools Market bySMR gives detailed insights on restraining factors, opportunities, challenges etc. The Orthopedic Power Tools Market was worth USD 1.42 Billion in 2021, and it will reach USD 2.07 Billion in 2030 with a 4.2% CAGR. Increasing incidence of orthopedic disorders, decreased surgery time, etc., are driving its growth rate. Organizations in this market are Stryker Corporation, Zimmer Biomet, Medtronic, Smith and Nephew PLC, ConMed Corporation, etc.

Lung Cancer Therapeutics Market
SMR's Lung Cancer Therapeutics Market Report explains its opportunities, restraints, growth factors, etc. The Lung Cancer Therapeutics Market in 2021 was USD 28.56 Billion, and by 2030 it will be worth USD 60.72 Billion with a 5.73% CAGR. Factors driving its growth rate are demand for targeted therapies, unhealthy lifestyles, presence of highly effective drugs, high incidence rate, etc. Organizations playing a major role in this market are Novartis AG, Merck, Eli Lilly and Company, AstraZeneca, etc.

Renal Denervation Market
The Renal Denervation Market Report prepared by SMR explains its variety of challenges, driving factors, restraints, etc. The Renal Denervation Market value was USD 219.49 million in 2021, and by 2030 it will be worth USD 4743.13 at a CAGR of 17.54%. Factors boosting the market growth rate are the increasing number of patients suffering from hypertension. Companies operating in this market include Abbott Laboratories, Johnson & Johnson, Medtronic plc, Terumo Corporation, etc.

Atherectomy Devices Market
The Atherectomy Device Market Report prepared by SMR outlines its challenges, opportunities, restraints, etc. The Atherectomy Devices Market value was USD 2.01 Billion in 2021 and will reach USD 2.01 Billion in 2030 with a 7.34 % CAGR. Factors triggering the growth rate are growing preference for minimally invasive surgical procedures, increasing incidence of diseases and geriatric Population, and higher success rate. The companies in this market are Medtronic, Rex Medical, AngioDynamics, Boston Scientific Corporation, Abbott Laboratories, etc.

Ventricular Assist Devices Market
Ventricular Assist Devices Market Report by SMR explains a clear-cut concept regarding its opportunities, restraints, growth factors, etc. The Ventricular Assist Devices Market in 2021 was worth USD 1.39 Billion, and by 2030, it will reach USD 2.58 Billion with a 7.13% CAGR. Increasing cardiovascular diseases, a rise in technological development, and a growing geriatric population are stimulating this market's growth rate. Companies playing a pivotal role in this market are CardioDyme, Berlin Heart, Getinge, Abiomed, Abbott Laboratories, Medtronic, etc.

About Us:
Strategic Market Research facilitates the organizations globally in taking pivotal business decisions by furnishing the Syndicated and Customized Research Reports, which are highly precise in terms of market numbers. We believe that every firm, whether it is a startup which is in the Introduction stage of the Product Life cycle or an established one which is at the growth stage, requires market research services in order to streamline its key business blueprint. It may be related to Product Launch, Go to Market strategies, Competitive Analysis or new geographical penetration and expansion.


Contact Us :
Strategic Market Research LLP.
Sunil Kumar
India: +91-8260836500
Email: info@strategicmarketresearch.com
Web: https://www.strategicmarketresearch.com
Blog: https://www.strategicmarketresearch.com/blog
Blog: https://www.strategicmarketresearch.com/blogs/property-management-industry-statistics
Press Release: https://www.strategicmarketresearch.com/press-releases


Connect Us:
LinkedIn: https://www.linkedin.com/company/strategic-market-research/
Twitter: https://twitter.com/smrstrategic
Facebook: https://www.facebook.com/StrategicMarketResearch
Instagram: https://www.instagram.com/strategicmarketresearchsmr/

castillothereat.blogspot.com

Source: https://finance.yahoo.com/news/continuous-glucose-monitoring-cgm-market-142100390.html

0 Response to "Market Share of Continuous Glucose Monitors"

Post a Comment

Subscribe to: Post Comments (Atom)

Iklan Atas Artikel

Iklan Tengah Artikel 1

Iklan Tengah Artikel 2

Iklan Bawah Artikel