Continuous Glucose Monitoring Systems Market

Continuous Glucose Monitoring Systems Market: Global Industry Analysis and Opportunity Assessment 2015 - 2020

Introduction

The incidences of diabetes have been increasing across the globe and over the last two decades, diabetes has emerged as a serious health issue.  The mortality rate among the age group of 20 to 80 years has increased due to diabetes. Thus, people have become more health conscious and monitor their glucose status regularly so that they will be able to take immediate action under critical conditions.

Continuous glucose monitoring systems is a vital part of diabetes management. Over the last 15 years, there have been numerous advancements in glucose monitoring systems such as highly evolved blood glucose meters, non-invasive glucose monitoring (NGM) devices and continuous glucose monitoring systems (CGMS).

Continuous glucose monitoring systems are diabetes care devices that measure the glucose levels in the interstitial fluid present between the cells of the skin and display them on a monitor. These systems have led to significant improvements in diabetes management as they are capable of detecting significant lowering of glycated hemoglobin (HbA1c) in adults with type I diabetes. Most continuous glucose monitoring systems developed on NGM techniques are minimally-invasive.

Continuous glucose monitoring systems consist of three components, namely transmitters & monitors, glucose sensors and insulin pumps. In the overall continuous glucose monitoring systems market, the transmitter and monitor segment holds the largest market share in terms of value.

The sensor segment is expected to witness the highest CAGR of 13.9% from 2015-2020 and have huge market potential in household and hospital and diagnostics centres segments in continuous glucose monitoring systems market.  

Continuous glucose monitoring systems are adopted by two types of end-users, namely household and hospitals and diagnosis centers, to monitor the glucose level of diabetic patients. The household segment accounted for the largest market share in the overall market due to the high demand for continuous glucose monitoring systems among individual customers. The global continuous glucose monitoring systems market was valued at US$ 445.8 Mn in 2015 and is expected to expand at a CAGR of 12.1% over the forecast period (2015–2020).

Rising Prevalence of Diabetes and Integration of Artificial Pancreas Systems in continuous Glucose monitoring systems market

The increasing prevalence of diabetes worldwide is driving the demand for innovative and effective diabetic management devices such as continuous glucose monitoring systems. For instance, as per the International Diabetes Federation, 285 Million people worldwide suffered from diabetes in 2012; out of these, the U.S. accounted for approximately 18.8 Million cases. These facts indicate that the U.S. has high prevalence of diabetes and thus, has high market potential for continuous glucose monitoring systems.

Artificial pancreas device systems are effective in the management of diabetes. In artificial pancreas systems, continuous glucose monitoring systems technology is combined with insulin pumps in order to administer optimum dosage to manage blood-glucose levels. This will increase the demand for continuous glucose monitoring systems in the market.

For instance, Dexcom Inc., a leading manufacturer of continuous glucose monitoring systems, received approval from the U.S. Food and Drug Administration (FDA) for its new software 505, which is expected to be used in Dexcom G4 Platinum continuous glucose monitoring systems. This software uses advanced algorithms for the proper functioning of artificial pancreas.

Rapid economic development in some countries has led to the adoption of stressful and sedentary lifestyles. This rapid transition has increased the occurrence of health problems such as obesity and diabetes. Increasing awareness regarding diabetes worldwide and the rapid acceptance of innovative technology such as continuous glucose monitoring and artificial pancreas are poised to fuel the growth of the continuous glucose monitoring systems market.

The use of continuous glucose monitoring systems has increased over the past decade. Continuous glucose monitoring systems help in monitoring glucose levels round the clock. They also display the information of glucose direction and rate of change on monitors, thereby providing users with additional information to help with their diabetes management. Globally, some research studies have shown that continuous glucose monitoring systems help in reducing A1C and reduce the risk hypoglycemia, whether the patient is on insulin injections or pump therapy.

Several players in the continuous glucose monitoring systems market are majorly focusing on new AI-based device launches and services. These innovative solutions help to provide more optimized and real time services to end-users and gain the maximum market share in continuous glucose monitoring systems market. Acquisition, mergers, strategic collaborations and technological advancements play a vital role in the growth of the continuous glucose monitoring systems market.

Global Continuous Glucose Monitoring Systems Market can be categorized on the basis of Product Type, Application, End-User and Region

On the basis of component, the continuous glucose monitoring systems market has been segmented on the basis of components such as transmitter & monitor, sensor and insulin pump. The transmitter & monitor segment holds the highest market share in the overall continuous glucose monitoring systems market. The sensor segment in continuous glucose monitoring systems market is expected to expand at a CAGR of 13.9% during the forecast period.  

On the basis of end-use, the continuous glucose monitoring systems market has been segmented into household and hospitals and diagnostics centers. In terms of revenue, the household segment dominates the global continuous glucose monitoring systems market. The hospital and diagnostics centers segment is anticipated to expand at the fastest CAGR over the forecast period in continuous glucose monitoring systems market.

North America and Western Europe are expected to retain Key Market Positions in the Continuous Glucose Monitoring SystemsMarket in the Coming Years

Among the key regional markets, the APEJ continuous glucose monitoring systems market is projected to exhibit relatively higher growth during the forecast period. APEJ is an emerging and attractive market for continuous glucose monitoring systems. The region holds the third position in the overall market in terms of attractiveness and is expected to expand at a CAGR of 16.0% over the forecast period.

Increasing per capita income and rising prevalence of diabetes in India and China the most populous countries in APEJ—are anticipated to boost demand for continuous glucose monitoring systemsin the region.

Revenue from the continuous glucose monitoring systems markets in North America and Western Europe collectively accounted for over 78.40% of the global continuous glucose monitoring systems market revenue in 2015.

Key competitors in the continuous glucose monitoring systems market include Abbott, Medtronic, Dexcom, Animas, Roche, Bayer, Glysens and Ypsomed.

Key Developments in Continuous Glucose Monitoring Systems Market

Continuous Glucose Monitoring Systems providers are majorly focusing new innovation to cater the global demand for continuous glucose monitoring system. Few key developments are listed below to understand the overall scenario of the Continuous Glucose Monitoring Systems market.

  • May 2015 –– Medtronic plc launched  the MiniMed 640G System to expand its presence Continuous Glucose Monitoring Systems market—a system that automatically detects low blood glucose levels below defined range and suspends insulin delivery

  • Sep 2014- Medtronic plc  developed a Bluetooth-enabled Continuous Glucose Monitoring Systems for diabetic patients that can monitored on an Apple device connected via an iOS app. This new solution enable vendors to focus on house hold end –users in Continuous Glucose Monitoring Systems market.

Key Segments Covered in the continuous glucose monitoring system Market

Component

  • Transmitter & monitor
  • Sensor
  • Insulin Pump

End-user

  • Household, and hospitals
  • Diagnostics Centres

Key Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Japan
  • APEJ
  • Middle East & Africa

Need specific information?

In the news

How Businesses Can Utilize Market Research to Create Reactive, Recession-proof Strategies for Survival

by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights

Our Clients

View Our Reports from Healthcare

View Reports

Recommendations

Continuous Glucose Monitoring Systems Market