Medindia LOGIN REGISTER
Medindia
Advertisement

The global market for continuous glucose monitoring devices and diabetes-related products totaled nearly $12.1 billion in 2016

Wednesday, December 27, 2017 Medical Gadgets
Advertisement
NEW YORK, Dec. 27, 2017 /PRNewswire/ -- The global market for continuous glucose monitoring devices and diabetes-related products totaled nearly $12.1 billion in 2016. The market should reach nearly $12.8 billion in 2017 and $20.7 billion in 2022, registering a compound annual growth (CAGR) of 10.1% from 2017-2022. Read the full report: https://www.reportlinker.com/p0958092 • Blood glucose meters is the largest segment of the global market for continuous glucose monitoring products which will grow from $6.5 billion in 2017 to $7.6 billion by 2022 at a 3.2% CAGR for the period 2017-2022. • Insulin patch pumps as a segment will grow from $1.1 billion in 2017 to nearly $4.8 billion in 2022, increasing at a CAGR of 33.5% from 2017-2022.  Chapter 1: Introduction Study Goals and Objectives This report HLC102C: Continuous Glucose Monitoring: Technologies and Global Markets provides an overview of the current and potential global market for monitoring equipment and disposables for both continuous monitoring and self–monitoring blood glucose (SMBG) equipment, which continues to be the standard method for monitoring blood glucose levels. The report provides comprehensive information on the causes of Type 1, Type 2 and gestational diabetes, highlighting global incidence and prevalence of the disease. The key objective of the report is to present a comprehensive analysis of the current state of continuous glucose monitoring technology, important trends in the field, and relevant clinical trials and results. A second objective is to present sales forecasts for continuous glucose monitoring transmitters, receivers and sensors, insulin patch pumps and insulin durable or tubed pumps, SMGB glucose meters and diabetes test strips, for the period from 2016 through 2022. Issues and trends addressed in this report are based on information from industry sources, regulatory and healthcare policies, demographics and other factors that directly affect the glucose monitoring market. Revenue values are reported at the manufacturer level of the supply chain, and do not include any third party or distributor mark–ups. The report also addresses opportunities for future players. This report specifically does not address markets for devices for inhaling insulin, nor does it address markets for diabetes management software applications. Most of the larger companies that have come out with CGMs have also developed or acquired software for managing the individual's diabetes, but the markets for these apps are not included in this report. Reasons for Doing This Study This study was conducted to provide detailed information regarding developments in continuous glucose monitoring. The incidence of Type 2 diabetes continues to increase in developed and developing countries, driven by the rise in obesity. Continuous glucose monitoring (CGM) is designed to provide a more accurate way to monitor blood glucose levels, thereby allowing diabetic patients to better regulate blood glucose, decrease the risk of diabetes–related damage to their bodies and ultimately improve their health and decrease healthcare costs. This BCC Research market research report will increase the awareness of current and developing technologies affecting continuous glucose monitoring devices and markets. Scope of Report The scope of this study encompasses the current and forecast markets for glucose monitoring, as well as pumps, SMBG meters and test strips. The covered segments are CGM transmitters, receivers and sensors, patch and durable insulin pumps, and self–monitoring blood glucose (SMBG) equipment and test strips. The test strip market numbers refer to all usage of test strips with SMBG, and not just test strips as used by CGM users. CGM users also use test strips, but theoretically only for calibrating their CGM device. Calibration may be required once or twice a day, or even less often, as the devices improve in the near future. Inclusion of SMBG meters and test strips will help the reader to comprehend the relative sizes of the two major segments: CGM and SMBG. As discussed elsewhere in this report, developing countries will continue to use primarily SMBG, as these devices are not only much cheaper than CGM, but, for many diabetics, do just fine for monitoring blood glucose. The report also includes discussions of the reimbursement and regulatory environments, current and developing technologies, diabetes incidence, market projections and market shares, and the latest trends and clinical trials. Information Sources Numerous companies within the industry were surveyed to obtain data for this study. These included manufacturers and end users of products, such as the medical device industry and research institutes. Data were gathered from various industry sources. BCC Research spoke with officials within the industry and consulted newsletters, company literature and product literature, as well as various technical articles, journals, indices and abstracts. Exhaustive investigations of databases by key terminology were completed. Data were also compiled from current financial, trade and government sources. Methodology This report is the result of pulling together and analyzing information from a wide variety of sources. These sources include interviews with company managers, company reports, reports from international associations such as the International Diabetes Federation, among others. The gathered information was then compared and contrasted with other information sources, and forecasts made based upon the numbers obtained. Estimated growth rates have been created and justified based upon the analysis of the information. Geographic Breakdown In this report, the geographic regions considered for market analysis include, and only include: - North America. United States. o Canada. - Europe. - Asia. - Rest of World. Continuous Glucose Monitoring and Related Equipment, by Type CGM - Transmitters and Receivers - Sensors Insulin Pumps - Insulin Patch Pumps - Insulin Durable Pumps Self–Monitoring Blood Glucose Equipment - SMBG meters - Test Strips Continuous Glucose Monitoring, by Disease Type Type 1 Diabetes Type 2 Diabetes Gestational Diabetes Other Diabetes Continuous Glucose Monitoring, by Region USA Canada Europe Asia Rest of World  Continuous Glucose Monitoring, by Ages Children Teenagers Youth Middle–aged Aged Continuous Glucose Monitoring, by Location of Use Home Setting Clinic Hospital Chapter 2: Summary and Highlights Glucose monitoring is key to tracking glucose metabolic disturbance, evaluating therapies and guiding further treatment. However, blood glucose levels vary with time. Finger sticks and self–monitoring of blood glucose levels only capture data at points in time, and cannot display continuous glucose readings. Continuous glucose monitoring (CGM) was a dream that became reality in 1999 with the introduction of the first CGM device. Since then, companies have worked to improve the performance of the glucose sensors and the algorithms used to analyze and display the data.  The market for continuous glucose monitoring (CGM) products (defined as transmitters, receivers, and glucose sensors) used with these systems is growing at a strong rate as diabetics, physicians, hospitals and clinics come to realize that the use of CGMs provides significant assistance in the management of blood glucose levels, and as insurance plans move to reimburse for use of these devices.  The market is strong and growing in double digits. (Note: for purposes of splitting and forecasting the insulin patch and durable pumps, pumps are no longer included in the CGM total. The stand–alone CGM is likely to dominate the market in the future, but for this report, BCC Research has parsed CGM, insulin pumps, and transmitters and sensors into separate segments.)  The total CGM market, which consists of transmitters, receivers, and glucose sensors, was estimated to be worth $732 million in 2016. Due to the increasing amount of clinical evidence showing the efficacy of CGM in decreasing the number of hypoglycemic episodes, improvements in reimbursement for CGM, and the growth in the global number of people with diabetes (growth primarily seen in Type 2 diabetes [T2D] rather than Type 1 diabetes [T1D]), the total CGM market is forecast to reach a value of nearly $2.7 billion in 2022. The overall compound annual growth rate (CAGR) for this market from 2017 through 2022 is expected to be approximately 25.4%.  In 2016, in revenue terms, the transmitter and receiver sector represented about REDACTED of the CGM market, while glucose sensors represented about REDACTED. These percentages will basically stay the samethrough the forecast period. Sensors represent the larger of the two markets because sensors should (with current technology) be replaced at least every seven days. However, users tend to replace sensorsonly when they are ready to fall off, and therefore the market is smaller than would be expected if thedevices were replaced as per the instructions. Read the full report: https://www.reportlinker.com/p0958092 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected]  US: (339)-368-6001 Intl: +1 339-368-6001 
Advertisement

Cision View original content:http://www.prnewswire.com/news-releases/the-global-market-for-continuous-glucose-monitoring-devices-and-diabetes-related-products-totaled-nearly-121-billion-in-2016-300575553.html

SOURCE Reportlinker

Sponsored Post and Backlink Submission


Latest Press Release on Medical Gadgets

This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close