Continuous Glucose Monitoring Devices Market Size – USD 437.0 million in 2018, Market Growth - CAGR of 13.9 %, Continuous Glucose Monitoring Devices Industry Trends – Collaborations, technological developments and product launches for precise & non-evasive Glucose monitoring
New York, Nov. 11, 2019 (GLOBE NEWSWIRE) -- 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.
According to a new report by Reports and Data the Continuous Glucose Monitoring devices market was valued at USD 437.0 million in 2018 and is estimated to reach USD 1.25 billion by 2026, growing at a CAGR of 13.9%. 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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While, there are certain restraining factors which stand as potential challenges to the market growth. Inadequate reimbursement and high cost associated with the application of CGM devices, measurement reliability, human factors issues, lack of a standardized format for displaying results, and uncertainty pertaining to the best use of CGM data to make therapeutic decisions are some of the key factors hampering the growth of this market during the forecast period.
Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/continuous-glucose-monitoring-devices-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Continuous Glucose Monitoring devices market on the basis of component, end use, and region:
By Component (Revenue, USD Million; 2016-2026)
By End-Use (Revenue, USD Million; 2016-2026)
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Regional Outlook (Revenue in USD Million; 2016–2026)
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