Report ID :10086090 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
"In 2021, the global continuous glucose monitoring system (CGMS) market is esimated to be valued at USD ~2 billion and is intensify at a compound annual growth rate of 20% during the forecast period 2022-2030. Continuous blood glucose monitoring (CGM) is one of the latest technological advances in the field of diabetes management. The CGM system is a glucose monitoring device that works by inserting biosensors percutaneously or subcutaneously.
The integrated sensor measures the glucose level in tissue fluid or blood, and transmits the information to the receiver/monitor to display the result through the transmitter. Compared with other blood glucose monitoring equipment, these systems have multiple related advantages, so they play an indispensable role in diabetes management. Unlike traditional galactose monitors, these systems allow regular monitoring of blood glucose levels, which is essential to avoid complications of diabetes.
In addition, CGMS technology lays out a roadmap for the most anticipated high-tech closed-loop artificial/bionic pancreas. Therefore, the development of a novel and technologically advanced CGMS is the main focus of blood glucose monitoring equipment manufacturing companies. It provides a wide range of applications for people of all ages, healthcare environments (diagnostic centers/clinics, hospital ICUs and home healthcare), and geographic areas. Therefore, the continuous blood glucose monitoring system market provides profitable opportunities for CGMS manufacturers and insulin pump manufacturers.
The main factors driving growth include the increase in the elderly population and the high prevalence of diabetes. According to data from the International Diabetes Federation, the number of diabetic patients is expected to reach 642 million by 2040, while the number of diabetic patients worldwide in 2015 was 415 million. Therefore, it is estimated that by 2040, one in ten adults will have diabetes, which indicates the severity of this epidemic. Therefore, diabetes treatment and management is expected to become the main focus area of ​​the global healthcare sector and stakeholders. The increase in diabetes cases is expected to provide growth and market opportunities for elevated continuous blood glucose monitoring systems, which in turn will attract and force many market participants to develop innovative products or product line extensions. The above factors are expected to drive overall market growth. However, lack of adequate compensation for equipment is the main obstacle to equipment adoption. On the contrary, the huge growth opportunities in the untapped market are expected to provide manufacturers with important profit opportunities in the near future.
The continuous blood glucose monitoring system market is categorized according to components, demographics, end users, and regions. By component, the market can be subdivided into integrated insulin transmitters, receivers and pumps; and sensors. According to demographics, CGMS is divided into children (≤14 years old) and adults (>14 years old). According to the end users, it is divided into clinics and diagnostic centers, ICUs and home care. Regarding this region, we analyzed the continuous blood glucose monitoring system market in North America, Europe, Asia Pacific and LAMEA.
COMPONENT SEGMENTATION REVIEW :
On the basis of components, the continuous blood glucose monitoring system market is segmented into durable components, such as transmitters and receivers and integrated insulin pumps; and disposable components, such as sensors. The sensor department is the main contributor to revenue in 2020. Due to the frequent sales of CGMS, short scrap life and bulk purchases, this trend is expected to continue during the forecast period. Therefore, it is implemented in diagnostic centers/clinics. In addition, in recent years, the adoption of CGMS in hospital ICU and home healthcare settings has increased.
The continuous blood glucose monitoring system market is categorized according to components, demographics, end users, and regions. According to the different components, the market is divided into transmitters and receivers and integrated insulin pumps; and sensors. According to demographics, CGMS is divided into children (≤14 years old) and adults (>14 years old). According to the end users, it is divided into clinics and diagnostic centers, ICUs and home care. Regarding this region, we analyzed the continuous blood glucose monitoring system market in North America, Europe, Asia Pacific and LAMEA.
DEMOGRAPHIC DATA BREAKDOWN REVIEW :
According to demographic data, the continuous blood glucose monitoring system market is divided into infant population (≤14 years old) and adult population (>14 years old). The adult population (>14 years old) is expected to show the highest growth during the forecast period. This is due to the fact that CGMS is considered the perfect tool for managing adult diabetes, because CGMS is a "ready-to-use " treatment that is effective for diabetes control and affordable for the working class/employees. Therefore, it has been widely accepted by people of this age.
REGIONAL SEGMENTATION REVIEW :
As far as the region is concerned, the continuous blood glucose monitoring system market in North America, Europe, Asia Pacific and LAMEA is analyzed. North America dominated the continuous blood glucose monitoring system market in 2020 with the highest share and is expected to maintain this trend throughout the forecast period. This is due to the increase in the elderly population, the increase in the incidence of diabetes, the increase in demand for wireless and portable systems, and the availability of complex reimbursement structures aimed at reducing costs.
MAIN BENEFITS FOR STAKEHOLDERS:
This report provides a detailed quantitative analysis of the current continuous blood glucose monitoring system market trends and forecasts from 2022-2030, which will help identify current market opportunities. In-depth continuous blood glucose monitoring system market analysis, including multi-regional analysis, is expected to provide a detailed understanding of current trends, enabling stakeholders to develop plans for specific regions.
The forecasts in this report are made in terms of value by analyzing the current trends and future potential of the market from 2022-2030. The information provided by extensive analysis of various regions is expected to enable companies to strategically plan their campaigns. business. This report provides an overview of the major market players in the continuous blood glucose monitoring system market and an in-depth discussion of their strategies, which helps to understand the competitive outlook.
MAJOR MARKET SEGMENTS:
Sensors by Component Transmitter and Receiver Integrated Insulin Pumps By Demographics Child population (≤14 years old) Adult population (>14 years old) by end user ICU Diagnosis/Clinic Family Health."
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