GLOBAL GLUCOSE MONITORING MARKET FORECAST 2019-2027
NEW YORK, June 13, 2019 /PRNewswire/ -- KEY FINDINGS
Continuous Glucose monitoring system (CGM) device is a system used for measuring glucose levels in the interstitial fluid present between the cells of the skin and displaying it on monitor whereas self-monitoring of blood glucose (SMBG) refers to the monitoring of glucose level personally using SMBG devices available. The CGMS market is anticipated to grow to $15,244.7 million by 2027, at a CAGR of 32.12% between 2019 and 2027 whereas the SMBG market is anticipated to grow to $22262.6 million by 2027 at a CAGR of 5.23% between 2019 and 2027.
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MARKET INSIGHTS
The global SMBG devices market is organized and is expected to grow rapidly with the increase in the incidence of diabetics across the globe.Vendors are offering SMBG devices that are safe, portable, accurate, and require low power consumption.
The availability of innovative and advanced SMBG devices will propel sales of these devices and spur market growth.
It faces stringent regulations and approval issues from government authorities, especially the US FDA, whose very strict restrictions tightly regulates the glucose monitoring system market. Many diabetologists are unwilling to use CGM in their practices as taking the precaution of patients using this technology is rather time-consuming.
REGIONAL INSIGHTS
The regional segmentation of the markets is carried out in North America, Europe, Asia Pacific, and the Rest of World.The North American market is expected to capture the highest revenue share by 2027, for both CGMS and SMBG markets, driven by high awareness related to diabetes.
Asia-Pacific is predicted to grow more significantly over the forecast period, owing to the ever-increasing unaddressed diabetic patient pool in these regions.
COMPETITIVE INSIGHTS
GlySens Inc., Abbott, Ypsomed, Medtronic, Apex Biotechnology Corp., Wockhardt, Becton Dickinson And Company, B Braun Melsungen AG, Nemaura Medical Inc., Senseonics Inc., Morepen Laboratories Ltd., Roche Diagnostics, Johnson and Johnson, ARKRAY Inc., Tandem Diabetes Care, Terumo, Insulet Corp., Ascensia, I-Sens Inc., and Dexcom are some of the noted market players in the global glucose monitoring systems market.
Companies mentioned
1. ABBOTT
2. APEX BIOTECHNOLOGY CORP.
3. ARKRAY INC.
4. ASCENSIA
5. B BRAUN MELSUNGEN AG
6. BECTON DICKINSON AND COMPANY
7. DEXCOM
8. GLYSENS INC.
9. INSULET CORP.
10. I-SENS INC.
11. JOHNSON AND JOHNSON
12. MEDTRONIC
13. MOREPEN LABORATORIES LTD.
14. NEMAURA MEDICAL INC.
15. ROCHE DIAGNOSTICS
16. SENSEONICS INC.
17. TANDEM DIABETES CARE
18. TERUMO
19. WOCKHARDT
20. YPSOMED
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