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JSB Market Research : Continuous Glucose Monitoring Market
JSB Market Research : Continuous Glucose Monitoring Market
JSB Market Research announced latest market research report Titled “Continuous Glucose Monitoring Market (CGM Systems, Application, Diabetic Type, and Adoption by Age Group)"
Navi mumbai,
Maharastra,
India
(sardnews.org)
24/07/2014
Rise in incidence of diabetes across the globe has elevated the need of innovative diabetic management devices which in turn has increased adoption of continuous glucose monitoring (CGM) devices. The existing glucose monitoring devices have few gaps which are bridged by the innovative CGM. With continuous glucose monitoring, significant improvement has been observed in stabilizing elevated A1C levels which in turn reduces risk of developing long term diabetic complications. Other driving factors for CGM market are technological innovation in the form of artificial pancreas, increasing awareness among developed, developing and under developed economies, and rise in incidences of diabetic patients. However, factors such as strict regulatory impositions, inadequate reimbursement options for CGM and accuracy as well as cost of the CGMs are restraining the market growth.
The global continuous glucose monitors market generated revenue of $194.8 million in 2012 and is expected to reach market size of value $568.5 million by 2020 growing at a CAGR of 14.8% during 2013-2020. This growth is attributed to increase in technological innovations namely launch of artificial pancreas, convenience offered by CGM over self monitoring glucose devices, and earlier detection of the hypo & hyperglycemic events by CGM.
Segment Analysis
Among the product category market, insulin pump market is expected to witness highest growth rate followed by glucose sensors market. Driver for insulin pump market is majorly integration of insulin pumps with the CGMs which is necessary for closing the loop algorithm. Furthermore, glucose sensors market is projected to generate highest revenue mainly as they have to be replaced after every 3 to 7 days time and each sensor cost is a significant addition in the overall market.
Global CGM market is segmented on the basis of application as home settings, Diagnostics and Hospitals. Among all the application segments home settings is expected to generate maximum revenue by 2020.
North America is the maximum revenue generating segment across the globe mainly due to rapid acceptance of innovative technology, well penetrated reimbursement system when compared with other geographies and rise in patient pool. Asia Pacific is expected to grow at a faster rate due to high patient pool, geographical expansion of market players, increase in income levels and living standards of the people.
Key market players in this market includes, Medtronics, Dexcom, Animas Corporation, Ypsomed AG, Omnipod and Miraculins, Inc inlcuding others. The major strategy adopted the market players across this geography is Collaborations, Product launches and approvals. Collaborations specifically focus on distribution and commercialization of the devices.
Key Benefits of the Report
The report ranks the factors that are responsible to accelerate the market growth driven by upper hand of CGM over Self monitoring glucose devices, approval for artificial pancreas and many more
Market is forecasted for period of seven years 2013 to 2020 with market revenues for 2 historic years of 20110and 2012
Identification and analysis of key pockets of investment for CGM manufacturers
Identification of challenges that must be addressed and overcome in the CGM market to achieve fiscal success throughout the market
Analysis of regulatory framework that regulates introduction of new CGM and puts light on reimbursement scenario
The report identifies and profiles key market participants that would drive innovation in the CGM market
Browse Full Report @
http://www.jsbmarketresearch.com/healthcare-medical/r-Continuous-Glucose-Monitoring-Market-Current-Trends-Size-Share-Industry-Analysis-Competitive-Intelligence-Growth-65372
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