Continuous Glucose Monitoring Systems Market expected to grow at a CAGR 12.1% during 2015 to 2020
Future Market Insights (FMI) announces the release of its latest report titled, “Continuous Glucose Monitoring Systems Market: Global Industry Analysis and Opportunity Assessment 2015 – 2020”. According to the report, the global continuous glucose monitoring systems market was valued at US$ 402.0 Mn in 2014 and is expected to reach US$ 788.4 Mn by 2020, registering a CAGR of 12.1% during the forecast period, 2015 to 2020.
Global continuous glucose monitoring systems market is driven by increasing number of diabetic patients and growing number of geriatric people across the world. Moreover, usage of advanced technologies such as artificial pancreas in continuous glucose monitors and increasing awareness of people towards diabetes are driving growth of the continuous glucose monitoring systems market. However, high prices of continuous glucose monitors and inadequate reimbursement policies pose a challenge for growth of the global continuous glucose monitoring systems market.
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The global continuous glucose monitoring systems market is segmented on the basis of end use sector, components and geography. Moreover, company wise market share has also been indicated in the report. By end use sector, global continuous glucose monitoring systems market is sub-segmented into household and hospital & diagnostic centers. Household is a larger segment as compared to hospital & diagnostic centers and is expected to dominate the continuous glucose monitoring systems market throughout the forecast period exhibiting a CAGR of 11.9%. The household segment held 68.5% market share in 2014 and expected to account for US$ 538 Mn by 2020, owing to the convenience and ease of use offered by continuous glucose monitors at home. Hospitals & diagnostic centers sub-segment accounted for approximately 31.5% of the global continuous glucose monitoring systems market value share in 2014, and is expected to gain market share to account for 31.8% of the global market by 2020.
On the basis of component, the global continuous glucose monitoring systems market is sub-segmented into transmitter & monitors, sensors and insulin pumps. Among the aforementioned sub-segments, transmitter & monitors is expected to dominate the global continuous glucose monitoring systems market with over 39% market share throughout the forecast period. Owing increasing trend of sedentary lifestyle in some developing and developed economies such as India, China and Japan, and increasing obesity rate globally, demand for continuous glucose monitoring is expected to increase significantly in the near future.
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Value wise share in the report has been provided for key players in the market, which includes Medtronic, Dexcom, Abbott and cumulative share of other players. Medtronic dominated the global continuous glucose monitoring systems market in 2014 and is expected to continue its dominance over the forecast period, expanding at a CAGR of 11.2%.
Geography-wise, North America was dominant, accounting for over 50% of the global continuous glucose monitoring systems market in 2014 in terms of revenue. However, Asia Pacific Excluding Japan (APEJ) is foreseen to witness a relatively high CAGR during the forecast period.
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Key players considered in the continuous glucose monitoring systems market include Medtronic, Dexcom, Abbott, OmniPod, Animas, Glysens, Roche, Ypsomed and Bayer.