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    Breaking News

    Continuous Glucose Monitoring Systems Market Expected to Reach $2.9 Billion

    Report predicts growth rate of 31.3 percent through 2021.

    Continuous Glucose Monitoring Systems Market Expected to Reach $2.9 Billion
    According to the report, Asia-Pacific is projected to register the fastest growth primarily due to a large patient pool and rapid penetration of CGMs in emerging markets. (Credit: Dexcom
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    Allied Market Research01.06.16
    According to a new report by Allied Market Research, titled, "World Continuous Glucose Monitoring (CGM) Systems—Market Opportunities and Forecasts, 2014-2021", the global continuous glucose monitoring market would generate a revenue of $2.9 billion by 2021, registering a CAGR of 31.3 percent during 2015-2021. CGM sensors accounted for about two-thirds share of the global CGM components market in 2014 and will continue to dominate the market until 2021.
     
    The need for active management and control of diabetes has grown considerably with the growing number of diabetic population and associated cost burden. It is projected that, by 2035, the diabetes-affected patient population would reach 471 million with an associated cost burden of $627 billion.
     
    Continuous monitoring and managing glucose levels is an essential factor in diabetes management, which is primarily delivered by CGMs. In the progression, many high-tech variants of CGMs have evolved such as smartphone-connected CGMs, wearable CGMs, and non-invasive CGMs. The improved efficacy and high disease prevalence has brought these devices to the center stage of glucose monitoring.
     
    Increasing awareness, FDA approval of novel and innovative products such as a bionic pancreas, and a focus on developing CGM devices to serve new end-user segments are prime drivers for the growth of the CGM market. However, lack of an adequate reimbursement regime for devices and clinicians has been the key barrier to the adoption of the devices.
     
    Sensors led the market for CGM components and will also be the fastest growing segment. The recurring sales, high frequency of use, bulk purchasing, and the limited life of sensors primarily supplement this growth. Integrated insulin pumps will emerge as the lucrative market segment over the forecast period.
     
    CGM has proved to be an extremely effective tool for glucose monitoring in the critical care/intensive care units (ICUs). Many healthcare regulatory authorities across developed and developing regions have imposed tight glycemic control (TGC) protocols. Mandatory TGC protocols in ICUs will render the ICU as a lucrative customer-segment market for CGMs by 2020. The need for POC/OTC CGMs will result in the emergence of home healthcare as the second-most lucrative customer segment for the CGM market.
     
    Key Findings of the Study
    • The North American CGM market will continue to lead the CGM market throughout the forecast period, primarily due to the sustained payers' access, better affordability, and increasing confidence in CGMs among dialectologists.
    • The ever-growing demand for POC/OTC CGM will enable home healthcare to be the second-most lucrative end-user segment.
    • The Gen X demographic segment is highly amenable to the usage of CGMs.
    • The UK CGM market will register a CAGR of 40.9 percent during the forecast period.
     
    Europe will offer a lucrative market segment, as the CE approval process in Europe is faster and relatively easier compared to the U.S. FDA. Asia-Pacific is projected to register the fastest growth, however, primarily due to a large patient pool and rapid penetration of CGMs in emerging markets. China is predicted to be the "diabetes capital" of the world in the next decade. Consequently, companies such as Medtronic and Dexcom have already expanded their distribution and supply networks in China. The enhanced supply-side infrastructure and large patient base, along with increased purchasing power would collectively make the China CGM market the most lucrative within the Asia-Pacific region.
     
    The key companies profiled in this report are Abbott, Animas, Dexcom, Glysens, Insulet, Medtronic, Omnipod, Roche, Senseonics, and Yposomed.
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    CURRENT ISSUE

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