The global continuous glucose monitoring market is valued at XX million US$ in 2018 is expected to reach 12,062.1 million US$ by the end of 2026, growing at a CAGR of 22.3% during 2019-2025.
Continuous Glucose Monitoring (CGM) is a device used for monitoring blood glucose continually for type I or type II diabetes. Continuous glucose monitor takes reading on set intervals with a small electrode placed under the skin and held in place by an adhesive. A transmitter attached to the electrode sends the information to a monitor. The monitor can be a part of an insulin pump or a separate device, which you might carry in a pocket or purse. Some CGMs send information directly to a smartphone or tablet.
The rising incidence of diabetes is one of the key factor driving the global continuous glucose monitoring market. For instance, according to the American Diabetes Association, in 2015, 30.3 million Americans, or 9.4% of the population, had diabetes. Approximately 1.25 million American children and adults have type 1 diabetes. According to international diabetes federation, in 2017, there were over 12,465,800 cases of diabetes in Brazil. Prevalence of diabetes in adults has increased to 8.7%. According to World Health Organization (WHO), in 2016, almost 10% of adults in China, which is about 110 million people have diabetes. The prevalence of diabetes in China is 10.9%. According to the Indian Council for Medical Research, in 2017, India represents 49% of the worldâs diabetes burden, with an estimated 72 million cases, and it is expected to increase by 134 million in 2025. Diabetes prevalence has increased by 64% across India. According to international diabetes federation, in 2017, there were over 1,826,100Â Â cases of diabetes in South Africa. Prevalence of diabetes in adults has increased to 5.4%.
One of the major factors hindering the global continuous glucose monitoring market is undiagnosed population. For instance, it has been estimated that 25%-27% of people with diabetes are unaware of their diabetic condition. According to the Centers for Disease Control and Prevention, more than 70% of diabetic patients reside in developing and under-developed countries. According to Centers for Disease Control and Prevention (CDC), 7.2 million, which is 23.8% of U.S population with diabetes are undiagnosed in 2017.
Based on Component, the global Continuous Glucose Monitoring market is broadly segmented as Transmitter, Receiver, Sensor, and Insulin pumps. In 2018 Transmitter is the dominant segment, and it accounts for approximately 25% of the market.
The transmitter of a CGM system is about the size of a quarter and hooks into the sensor and sends real-time glucose information readings wirelessly to a receiver so that the user can view the information. The transmitter is small, flat, and waterproof. It contains a battery that is either permanent (lasting for a fixed lifetime), replaced as needed, or recharged periodically. In the cases of sensors embedded into the skin, the transmitter is worn over the CGM sensor. Transmitters of the continuous glucose monitoring system are constantly improved design-wise and its life-cycle. The technological advancement is mainly due to the new sensors being launched and approved by the FDA.
The recent transmitters have become more user-friendly with its additional feature. For example, Senseonics Eversense CGM System has a smart transmitter worn on the arm, directly over the sensor, wirelessly powers the data transfer from the sensor and can last for months. It is removable, rechargeable, water-resistant and sends alerts and notifications to the mobile device and also as on-body vibe alerts from smart transmitter even when a mobile device is not nearby during highs and lows. Medtronic's Guardian Connect Smart CGM has a Bluetooth transmitter. The Dexcom G4 Platinum systemâs transmitter is a reusable device and wirelessly sends the sensorâs glucose information to the receiver.
The sensor has shown significant growth in 2018, and it is expected to grow in the forecasting years, due to the regulatory approval for continues glucose monitoring with sensors. For instance, on June 21, 2018, Senseonics Holdings, Inc., have received the U.S. Food and Drug Administration approval for Eversense Continuous Glucose Monitoring (CGM) system for use in people 18 years of age and older with diabetes. It is the first FDA-approved CGM system to include a fully implantable sensor to detect glucose, which can be worn for up to 90 days. Moreover, in February 26, 2018, Medtronic, have received FDA approval for new arm indication the Guardian Sensor 3, the companyâs most accurate continuous glucose monitoring system and the only sensor approved in the U.S. to help control automated insulin delivery for patient with diabetes via its hybrid closed-loop system, the MiniMed 670G system.
The global Continuous Glucose Monitoring market is segmented into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
North America is dominating the global Continuous Glucose Monitoring market, due to the increasing incidence of diabetes in the U.S. For instance, according to American Diabetes Association, in 2015, 30.3 million Americans, or 9.4% of the population had diabetes. According to the American Diabetes Association, in 2015, 84.1 million age 18 and older in Americans had prediabetes. Diabetes was the 7th leading cause of death in the United States in 2015. According to the Centers for Disease Control and Prevention (CDC), More than 100 million U.S. adults had diabetes or prediabetes in 2017.
The increase in regulatory approval for continuous glucose monitoring components is one of the key factor driving the global continuous glucose monitoring market. For instance, in March 2018, MedtronicÂ have received FDA approval for itsÂ Guardian Connect mobile Continuous Glucose Monitor (CGM), along with the paired Guardian Connect App for Apple iOS devices. The new mobile CGM is approved for 14-75 year-olds, includes the more accurate Guardian Sensor 3, and is approved for both arm and abdomen wear up to seven days. It has a two-hour warmup and requires two fingerstick calibrations per day, with occasional diagnostic calibrations required.
The North America Continuous Glucose Monitoring market size was XX million USD in 2018, and it will be 5,473.3 million USD in 2026, with a CAGR 25.0% from 2019 to 2026.
Europe is the second largest market for Continuous Glucose Monitoring in 2018, due to the increase in cases of diabetes. For instance, according to the National Institute for Health and care excellence around 400,000 adults in the UK are affected by type 1 diabetes, and around 27,000 children and young people have either type 1 or type 2 diabetes in 2018. According to Centers for Disease Control and Prevention (CDC), 1 in every 430,530 people under the age of 19 has Type 1 diabetes in 2017. According to CDC, approximately 7% of Franceâs adult population, which is 45 million have diabetes in 2017. According to international diabetes federation, in 2017, there were over 7,476,800Â Â cases of diabetes in Germany. Prevalence of diabetes in adults has increased to 12.2%.
The major players include Medtronic Plc, Dexcom, Roche, GlySens Incorporated, Insulet Corporation, Senseonics Incorporated, Abbott Laboratories, Echo Therapeutics, Inc., AgaMatrix Holdings LLC, and Others.
The strategic agreement between companies for the distribution of continuous glucose monitoring (CGM) system is driving the global continuous glucose monitoring market. For instance, on February 3, 2019, Senseonics Holdings, Inc. a medical technology company focused on the development and commercialization of a long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, have extended its distribution agreement with Roche Diabetes Care. The agreement is extended to 31 January 2021. Under the extended agreement, Roche will continue its role as Senseonics exclusive distributor in Brazil, and other countries around the globe. Moreover, in May 2018, Terumo Corporation signed an agreement with U.S.-based DexCom, Inc. to distribute the company's Continuous Glucose Monitoring (CGM) devices exclusively in Japan. Additionally, in August 2016, Hunan China Sun Pharmaceutical Machinery entered into a strategic agreement with Glucovation, Inc. The two companies have agreed to create a Joint Venture in China's Hunan Province for the development, manufacturing, and distribution of Glucovation's Continuous Glucose Monitoring System (CGM).
Global Allergen immunotherapy Market
- Consumption by Regions
- North America
- South America
- Asia Pacific
- The Middle East and Africa
- Segment by Type
- Insulin pumps
- Segment by End User
- Home Healthcare