Continuous
Glucose Monitoring Market Size and Growth Rate:
According to the
Research Report by Research
Cosmos, the Continuous
Glucose Monitoring Market was valued at $895 million in 2016 and is
predicted to reach $4,925 million by 2024, recording a CAGR of 22.90% from 2018
to 2024.
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research report developed on Continuous
Glucose Monitoring Market @https://www.researchcosmos.com/reports/continuous-glucose-monitoring-market/28477909
Continuous
Glucose Monitoring Market Overview:
Continuous glucose monitoring systems help to
manage diabetes by providing real-time values of the glucose levels and alerts
to the victim in the event of hypo or hyperglycemia. This helps decrease the
probability of any complications associated with diabetes. In addition, CMS
offers varied benefits over other glucose monitors in observing the blood
glucose levels of ICU patients.
The main factors that drive the growth include a
surge in the geriatric population and the large prevalence of population suffering
from diabetes. Additionally, the advancements in the technology, rise in the
per capita and healthcare spending of the population, availability of various
branded products and other factors are supporting the market growth around the
world. However, the lack of adequate reimbursement is the principal barrier to
the adoption of these monitoring devices.
The market is classified based on component,
demographics, end user, and region. The components segment includes durable
elements such as transmitters & receivers and combined insulin pumps; and
disposable elements such as sensors. The segment for sensors occupies a
commanding share in the market due to recurring sales, short fragment life, and
bulk purchases. Therefore, it is deployed in symptomatic centers/clinics.
Furthermore, the adoption of these monitoring devices in ICUs and in-home
healthcare settings has grown in recent years. On the basis of demographics, the
market is classified into child population and adult population (>14 years).
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Continuous
Glucose Monitoring Market Geographical Insights:
Amongst the regions, North America accounted for
the highest regional share in the global constant glucose monitoring market in
2018. Nevertheless, Asia Pacific is predicted to develop at the highest rate. Presence
of vast customer base, particularly in emerging countries such as China and
India, in addition to increasing per capita expenditure on healthcare is likely
to drive the regional market.
The rising number of hospital visits for diabetes
treatment are responsible for the growing adoption of thecontinuous glucose monitoring devices. The main factors that drive
the growth include a surge in the geriatric population and the large prevalence
of population suffering from diabetes.The segment for sensors occupies a
commanding share in the marketdue to recurring sales, short fragment life, and
bulk purchases. North America accounted for the highest regional share in the
global market in 2018.
Key
Players of the Continuous Glucose Monitoring Market:
·
Medtronic
·
Abbott
·
Dexcom
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