High incidence of diabetes, increasing geriatric population & continuous technological advancements across the globe are the key factors contributing to high CAGR of Continuous Glucose Monitoring devices market during forecast period.
Market Size – USD 3.45 Billion in 2019, Market Growth - CAGR of 19.2%, Market Trends – Collaborations, technological developments and product launches for precise & non-evasive Glucose monitoring
According to a report by Reports and Data, the Continuous Glucose Monitoring devices market was valued at USD 3.45 Billion in 2019 and is estimated to reach USD 14.7 billion by 2026, growing at a CAGR of 19.2%. Estimating and identifying appropriate blood glucose level in patients through continuous glucose monitoring (CGM) devices is a vital component of therapy success. Continuous glucose monitoring evolved from enzyme-based electrochemical glucose sensors. It is an instrument with a small sensor attached with a transmitter for daily diabetes management. The Continuous Glucose Monitoring devices aid in better diabetes management by proactively tracking glucose level fluctuations in interstitial fluid as a basis for improving metabolic control. CGM devices help in reducing the risk of hyperglycemia & hypoglycemia.
The global spread of diabetes along with increasing geriatric population and continuous technological advancements have propelled the market growth of the CGM devices. According to the WHO, Diabetes is increasing at an alarming rate in the United States, and nearly 30.3 million people, or 9.4% of the U.S. population, have diabetes. An estimated 23.1 million people - or 7.2% of the population - had diagnosed diabetes. North America accounts for the largest share in the global continuous glucose monitoring devices market due to government initiatives undertaken for prevention of diabetes and treatment support along with the presence of dominant players in this region, technological advancements in the drug discovery procedures, growing rate of obesity in the region, sedentary lifestyle and techno savvy population.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Dexcom, Abbott Laboratories, Pfizer Inc., Inc. Baxter International, Menarini Diagnostics, Johnson & Johnson, Medtronic PLC, Animas Corporation, and Novo Nordisk A/S, ARKRAY, Inc., Bayer AG, Terumo Medical Corporation, Echo Therapeutics, Inc.; Medtronic PLC; F. Hoffmann-La Roche Ltd., GlySens Incorporated
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The Continuous Glucose Monitoring Devices market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
By Component (Revenue, USD Million; 2016-2026)
Transmitters & receivers
By End-Use (Revenue, USD Million; 2016-2026)
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Continuous Glucose Monitoring Devices market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Key Benefits of the Report:
- Comprehensive overview of the changing dynamics of competitive landscape
- Detail oriented futuristic prospects of factors driving and restraining growth of the market
- Valuable insights on key market growth driving trends and monetary competence in the forecast period
- Strategic recommendations to key players and new entrants to overcome barriers and challenges in the market
- Revenue forecasts for the period of 2026
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