Global Continuous Glucose Monitoring Systems market will reach 5280 million US$ by the end of 2025
Published Date: 2019/8/30
Continuous glucose monitoring systems helps to manage diabetes by providing real time values of the glucose levels and alerts to the patient in the event of hypo or hyperglycemia. This helps reduce the probability of any complications related to diabetes. In addition, CGMS offers varied benefits over other glucose monitors in monitoring the blood glucose levels of ICU patients. The major factors that drive the growth include surge in geriatric population and high prevalence of population suffering from diabetes. However, lack of adequate reimbursement for devices is the key barrier to the adoption of the devices.
The market is categorized based on component, end user, and region. The CGMS components market includes durable components such as transmitters & receivers and integrated insulin pumps; and disposable components such as sensors. The segment for sensors occupies a dominant share in the CGMS market due to recurring sales of CGMS, short scrap life, and bulk purchases. Therefore, it is deployed in diagnostic centers/clinics. Moreover, the adoption of CGMS in hospital ICUs and in-home healthcare settings has increased in the recent years.
The Continuous Glucose Monitoring Systems market was valued at 1120 Million US$ in 2017 and is projected to reach 5280 Million US$ by 2025, at a CAGR of 21.3% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Continuous Glucose Monitoring Systems.
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