Portland, OR, March 05, 2019 (GLOBE NEWSWIRE) -- Allied Market Research 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, 2016-2024.” As per the report, the global continuous glucose monitoring systems market was estimated at $758 million in 2017 and is anticipated to hit $4,921 million by 2024, airing a CAGR of 22.9% from 2016-2024.
Benefits of CGMS over POC glucometers, rise in incidence of diabetes cases and high-end technological advancements in medical sector have amplified the growth of the market in more than one way. On the other hand, certain adverse effects of the system and several strict guidelines by the Government have happened to curb the growth to some extent. However, high adoption rate of CGMS in home healthcare, increase in product awareness and rise in undiagnosed patient population have created multiple opportunities in the segment.
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Segmentation Analysis of the Industry
The report offers a thorough analysis of market dynamics, top investment pockets, market definition & scope, key market trends and market size. Based on components, the sensors segment is remains to be the largest sector, airing a CAGR of 22.9% during the forecast period. The expected technological advances has rocketed the growth and made the segment hold major market share. By end user, diagnostic centers/clinics dominate the global market, garnering a CAGR of 22.1% throughout the forecast period. Cutting-edge CGMS programs in diagnostics clinics have spurred the growth. Simultaneously, home health care has been cited as the fastest growing market, registering a CAGR of 30.9% from 2016-2024. This is due to the fact that continuous glucose monitoring systems are easier to use and are less painful.
Industry Key Players
The report offers quite a few key market players including Dexcom, Inc., Abbott Laboratories, Echo Therapeutics, Inc., Insulet Corporation, F. Hoffmann-La Roche Ltd., Senseonics Holdings, Menarini Diagnostics, GlySens Incorporated, Johnson & Johnson and Medtronic plc, Inc.
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