Continuous Glucose Monitoring Market Will Grow at 14.8% CAGR Till 2020
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In 2012, the report observed the value of CGM to be $194.8 million. However, factors such as rising awareness about CGM's, earlier detection of hyperglycemic and hypo condition, affectivity over conventional devices would take global CGM market to $568.5 million by 2020 with a CAGR of 14.8%.
"The market is overcoming several challenges towards the commercialization of closed loop CGMs with significant focus on technological innovation. This is expected to take the concept of CGM to a next level from research to mass adoption," noted by analyst. Despite such encouraging innovations, commercialization has not reached to desired levels. Major factors responsible for this are issues related with accuracy as well as cost, less attractive reimbursement coverage, and strict regulatory impositions. "However, the under commercialization is presenting opportunities for the marketers as new and innovative products will easily take the advantage of lower product presence," Debbie explains. The impact of FDA approval for artificial pancreas, superiority of CGMs over self-monitoring devices and rise in diabetes cases will have significant impact on the overall market growth.
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Providing minutest details of every sector, this report divides Global CFM market on the basis of age, devices, types of diabetes and application. A deep dive study by AMR revealed the home settings market to lead the CGM application market in terms of revenue. However, the application of GCM under application market would attract plethora of investors between 2013 and 2020.
Study by AMR suggests that the receivers and transmitters attained highest revenue in overall Global continuous glucose monitoring systems market with a value of $88.5 million in 2012. However, during the analysis period, more improvements can be witnessed in glucose sensors and hence, the report rightfully suggest that the glucose sensors would generate the highest revenue during 2013 to 2020.
The report also provides a holistic views about geographies that play a vital role in Global continuous glucose monitoring systems market. As per the latest findings by AMR, North America has the highest growth in terms of revenue. Further, Asia Pacific is expected to achieve highest growth rate during the forecast period.
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This report gives you detailed insights about various companies involved in CGM markets. The companies are listed below
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