The demand within the global market for continuous glucose monitoring has been expanding on advancements in the production and manufacturing domain of medical devices and products. The glucose level in the blood is an important parameter for the diagnosis and treatment of several diseases and infections. Due to this reason, medical practitioners and doctors extensively purchase and use glucose monitoring devices to track the health of patients. Glucose monitoring refers to the use of devices and equipments that help in real-time monitoring and sensing of glucose levels in the blood.
The propensity of the masses to use minimally invasive medical devices has also given an impetus to the growth of the global market for glucose monitoring in recent times. The rising incidence of diabetes is also recognized as a key factor that could revolutionize the growth dynamics of the global market. Patients whose blood glucose levels undergo constant fluctuations extensively use glucose monitoring devices which further increases market demand. On the flip side, continuous glucose monitoring systems (CGMS) have been challenged on the grounds of being inaccurate and erroneous, and this acts a major roadblock for the growth of the global glucose monitoring market.
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Transparency Market Research (TMR) finds that the global market for glucose monitoring is projected to expand a stellar CAGR of 13.60% over the period between 2013 and 2019. While the global glucose monitoring market was valued at US$370 mn in 2012, it is expected to earn an opportunity of US$910 mn between 2013 and 2019.
Guardian Real-Time CGM Systems to Lead Other Segments Based on Type of Product
Several types of products exist in the global market for continuous glucose monitoring, and each of them hold vitality for the medical fraternity. However, guardian real-time CGM systems have been attracting a higher demand as against other glucose monitoring systems over the past decade. However, this segment is projected to undergo a downfall in the years to come due to the development of better and more advanced product types. Based on end-user, the demand for glucose monitoring systems has been the highest amongst patients of diabetes. This trend is projected to become more pronounced over the coming years as the incidence of diabetes rises across the globe.
North America Continuous Glucose Monitoring Market to Bode Well
The healthcare fraternity in the US and Canada has undoubtedly outdone the healthcare sectors of all other regions across the globe. Owing to this reason, the use of continuous glucose monitoring systems in these countries has also taken a leap in recent times. Furthermore, the sluggish and unbecoming lifestyles of the people in North America have given rise to several diseases or disorders such as diabetes and high blood pressure.
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Owing to the aforementioned factors, the demand within the market for continuous glucose monitoring in North America has been rising at a starry rate in recent times. Besides North America, the market for continuous glucose monitoring in Europe has also expanded at a robust rate over the past few years. This owes to the presence of informed medical practitioner who can recommend the right products for continuous glucose monitoring to the masses.
Some of the key players in the global market for continuous glucose monitoring are Dexcom, Inc., Medtronic, Inc., Bayer AG, Abbott Diabetes Care, Inc., Nova Biomedical Corporation, Senseonics, GlySens, and Insulet Corporation.