Growing prevalence of diabetes and rising demand for continuous glucose monitoring systems for diabetes management are among the key factors driving market revenue growth.
Growing prevalence of diabetes and rising demand for continuous glucose monitoring systems for diabetes management are among the key factors driving market revenue growth
Emergen Research has published its latest report titled “Continuous Glucose Monitoring System Market, By Component (Integrated Insulin Pumps, Transmitters & Receivers, Sensors), By Demographics (Child, Adult), By End-use (Hospitals & Clinics, Home Healthcare, Others), and By Region Forecast to 2028 ”
According to Emergen Research, the global continuous glucose monitoring system market size was USD 4.31 billion in 2020 and is expected to reach USD 17.80 billion in 2028 and register a revenue CAGR of 19.6% during the forecast period, 2021-2028.
Market Dynamics:
The global continuous glucose monitoring system market revenue growth is majorly driven by factors such as rising prevalence of type 1, type 2, or gestational diabetes, growing demand for continuous glucose monitoring (CGM) systems for effective diabetes management, rise in global geriatric population, increasing risks of hyperglycemia among the elderly people, and rising burden of obesity and many other lifestyle-induced diseases such as hypertension.
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Continuous glucose monitoring systems are glucose monitoring devices play a vital role in diabetes management. These devices are used for periodic monitoring of the body’s glucose levels to avoid several diabetic complications. Technological advancements in continuous glucose monitoring devices, increasing public awareness about preventive care for diabetes, increasing government investments in research & development activities for advanced diabetes care and management, and stringent regulatory guidelines for home-use CGM devices are some of the other major factors driving revenue growth of the market.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Adult (>14 years) Segment Accounted for Largest Revenue Share in 2020:
Based on demographics, the global continuous glucose monitoring system market is segmented into child (≤14 years) and adult (>14 years). The adult (>14 years) segment dominated other segments in terms of revenue share in the global market in 2020. Key factors driving revenue growth of this segment are growing prevalence of diabetes among the adult population, increasing use of continuous glucose monitoring systems due to their high portability and cost-efficiency, and rising awareness of preventive diabetes care and management.
Home Healthcare Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global continuous glucose monitoring system market is segmented into hospitals & clinics, home healthcare, and others. The home healthcare segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising prevalence of diabetes, growing demand for continuous glucose monitoring systems for better diabetes care and management, growing use of CGM systems in home healthcare settings, and increasing healthcare expenditure of the population are key factors driving the revenue growth of this segment.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America continuous glucose monitoring system market accounted for the largest revenue share in the global market in 2020. Growing prevalence of diabetes, rising awareness of advanced diabetes care and management solutions, such as wireless and portable CGM systems, growing availability of favourable healthcare reimbursement policies, and presence of leading market players in the region, including Johnson & Johnson Services, Inc. and Senseonics Holdings, Inc., are key factors boosting the regional market revenue growth.
Major Companies in the Global Continuous Glucose Monitoring System Market Include:
- Medtronic plc
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Johnson & Johnson Services, Inc.
- Dexcom, Inc.
- Echo Therapeutics, Inc.
- Senseonics Holdings, Inc.
- Menarini Diagnostics Ltd.
- GlySens Incorporated
- Ypsomed Holding AG
For the purpose of this report, Emergen Research has segmented the global continuous glucose monitoring system market on the basis of component, demographics, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Integrated Insulin Pumps
- Transmitters & Receivers
- Sensors
Demographics Outlook (Revenue, USD Billion; 2018–2028)
- Child (≤14 years)
- Adult (>14 years)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Home Healthcare
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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