Global Continuous Glucose Monitoring (CGM) Devices Market to Surpass US$ 18 Billion by 2025

SEATTLE, May 21, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global continuous glucose monitoring (CGM) devices market is estimated to be valued at US$ 2,502.2 million in 2017 and is projected to exhibit a CAGR of 24.6% over the forecast period (2017 – 2025).

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Key Trends and Analysis of the Continuous Glucose Monitoring (CGM) Devices Market:
Increasing number of government and non-government initiatives to support research and development for efficient disease management is expected to foster growth of Continuous Glucose Monitoring (CGM) devices market. For instance, the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) funds several studies on different types of artificial pancreas devices, which operate on CGM systems to assist people suffering from type 1 diabetes, type 2 diabetes and gestational diabetes to manage their disease.

Furthermore, market players are actively investing in research for developing innovative solutions thus bolstering the market growth. For instance, in March 2018, Medtronic Plc. received approval for Guardian Connect continuous glucose monitoring system for people with diabetes that can alert patients of potential high or low glucose events up to 60 minutes in advance. However, high costs associated with these devices coupled with the issues encountered for coverage of these devices by Medicare are expected to hinder the market growth.

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Key Market Takeaways:

  • The continuous glucose monitoring (CGM) devices market is expected to exhibit a CAGR of 24.6% during the forecast period (2017 – 2025), attributed to important role of the devices in maintaining and monitoring the glucose equilibrium of the body and the increasing adaptability of these devices with rising number of patients with diabetes
  • Market growth is attributed to advantages offered by continuous glucose monitoring devices over conventional glucose monitoring devices such as real-time blood glucose measurements, thereby reducing chronic diabetes complications by preventing episodes of hypoglycemia and reducing health care costs and improving quality of life
  • Some of the major players operating in the global continuous glucose monitoring (CGM) devices market include Medtronic, Dexcom, Inc., Abbott Laboratories, Medtrum Technologies, Inc., Tandem Diabetes Care, Senseonics, Glycens, Insulet Corporation, and Nemaura Medical, Inc.

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