Portland, OR, May 27, 2020 (GLOBE NEWSWIRE) — Allied Market Research recently published a report, titled, “Continuous Glucose Monitoring Systems Market by Components (Sensors, Transmitters & Receivers, and Integrated Insulin Pumps), Demographics (Child Population (<=14years), and Adult Population (>14years), and End User (Clinics and Diagnostics Centers, ICUs, and Home Healthcare): Global Opportunity Analysis and Industry Forecast, 2020–2027”
As per the report published by Allied Market Research, the global continuous glucose monitoring systems market was pegged at $1.77 billion in 2019, and is projected to reach $8.84 billion by 2027, growing at a CAGR of 22.0% from 2020 to 2027.
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Benefits of continuous glucose monitoring systems over POC glucometers, rise in incidence of diabetes cases, and technological advancements have boosted the growth of the global continuous glucose monitoring systems market. However, adverse effects of the system coupled with stringent regulatory issues hamper the market growth. On the contrary, high adoption rate of continuous glucose monitoring systems in home healthcare and ICUs, surge in product awareness, and high undiagnosed patient population would open new opportunities for the market players in the coming years.
COVID 19 scenario: The current pandemic has been favorable for the growth of the continuous glucose monitoring systems industry.
- Due to increased demand from the healthcare sector to monitor hospitalized diabetes patients suffering from Covid-19, FDA has encouraged manufacturers to supply continuous glucose monitoring systems.
- Even after this pandemic, hospitals and customers can use continuous glucose monitoring systems as personal protective equipment.
The global continuous glucose monitoring systems market is segmented on the basis of components, demographic, adult population, end user, and geography. Based on components, the market is divided into sensors, transmitters & receivers, and integrated insulin pumps. The sensors segment held the largest share in 2019, accounting for two-thirds of the market, and is projected to reach 22.6% from 2020 to 2027..
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Based on demographics, the market is categorized into child population (<=14 years) and adult population (>14 years). The child population segment is projected to manifest the highest CAGR of 22.9% during the forecast period. However, the adult population segment held the largest share in 2019, contributing to nearly 99% during the study period.
On the basis of end user, the market is classified into clinics and diagnostics centers, ICUs, and home healthcare. The home segment is expected to portray the fastest CAGR of 29.4% during the forecast period. However, the clinics and diagnostics center segment held the lion’s share in 2019, contributing to nearly half of the market.
The global continuous glucose monitoring systems market report includes an in-depth analysis of the major market players such as Dexcom, Inc., GlySens Incorporated, Echo Therapeutics, Inc., Abbott Laboratories, A. Menarini Diagnostics, Johnson & Johnson, F. Hoffmann-La Roche Ltd., Medtronic plc, and Senseonics Holdings, Inc.
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