Continuous Glucose Monitoring is a device that provides an effective way to monitor the sugar levels to understand the varying blood sugar level throughout the day and to understand the state of glycemic excursions in a patient. CGMS provides real-time glucose information every five minutes offering upto 288 readings in a 24 hour period and providing insights to monitor and control diabetes. This is helpful for patients who witness high blood sugar levels during odd times of the day and are not detected by regular tests such as fasting blood sugar or blood sugar test after food. Hence, the use of CGMS provides essential insights allowing to fittingly modify the sugar treatment of patients.
One of the major factors for the growth of CGMS is the growing diabetic population globally. According to International Diabetes Federation, it is estimated that 425 million people are suffering from diabetes globally with 82 million in the South East Asia region. Furthermore, growing geriatric population and obesity is further leading to growing diabetic population worldwide.
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In terms of geographic segmentation, North America and Europe stands to hold majority of the market in 2017 owing to high product awareness among the populous, growing diabetic population, adoption of new technologies and high diabetic diagnostic spending in the region. According to American Diabetes Association, it was estimated that 30.3 million Americans had diabetes in 2015 while it is estimated that around 1.5 Americans are diagnosed with diabetes every year. APAC stands to be one of the fastest growing market for CGMS owing to high prevalence of diabetic population in the region. According to International Diabetes Federation, in 2017 around 72.9 million of the Indian population and around 114.4 million people in China have diabetes within the age group of 20-79 years and this is expected to reach to 134.3 million and 119.8 million for India and China respectively by 2045.
Technological advancements and product launches are key to the market growth of continuous glucose monitoring market. For instance, in 2018, the FDA approved new glucose monitoring system by Dexcom Inc, to check the blood sugar levels in people suffering from diabetes and can also be used along with insulin pumps.
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Some of the key leading players in the Global Continuous Glucose Monitoring System Market include Bayer A.G., Abbott Laboratories, Medtronic Plc, Johnson & Johnson Inc, Roche Holdings A.G., Sensionics Incorporated, Dexcom Inc, Mernarini Diagnostics S.R.L., Echo Therapuetics Inc., and Arkray USA Inc.
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