Early Identification of Hypoglycemic and Hyperglycemic Levels by Using Continuous Glucose Monitoring Systems to Bolster Growth of Market
Continuous glucose monitoring systems (CGMS) are portable and real-time glucose monitoring systems employed for glucose level measurement from time to time from the body of a patient. These systems make use of a wireless technology for the transmission of glucose readings which are taken from the interstitial fluid of the skin cells of the patient, unlike the measurement of glucose levels present in the blood which happens in case of blood glucose meters. The swiftly increasing diabetic population globally has substantially raised the preference for effectual diabetes management systems.
Transparency Market Research (TMR), a market intelligence company, studies the continuous glucose monitoring market in detail. It provides the reasons behind their increased demand and the type of devices leading the market.
Q. Why are CGMS gaining popularity over the conventionally utilized glucose monitoring systems?
The utilization of CGMS is immensely rising and they are overtaking the conventionally utilized glucose monitoring systems owing to them being user friendly, more accurate, and their provision of presenting access to real-time trends and values. In addition, continuous glucose monitoring systems aid in the management of diabetes, particularly in patients having diabetes I and also aid in lowering long-terms complexities related to diabetes. Furthermore, the increasing technological innovations are also amongst the prime factors behind the increasing employment of these systems, making the control and management of diabetes mellitus relatively simpler. The early identification of hypoglycemic and hyperglycemic levels by the utilization of CGMS devices will also fuel their demand over other types of blood glucose monitoring systems.
Q What are the key opportunities and which factors may negatively impact the growth of the market?
There are numerous growth opportunities in the market as a number of companies have made investments in the research and development of CGMS, thus making the management and control of diabetes easier. For instance, Dexcom, Inc. has developed the next generation disposable continuous glucose monitoring device and it will be introduced in the market by 2021. This launch will positively impact the growth of the market. In addition, the artificial pancreas’ approval, which makes the utilization of CGMS mandatory has also emerged as a key opportunity in the global continuous glucose monitoring devices market. However, the dearth in the reimbursement options and the strict regulatory norms in some nations are amongst the crucial factors impeding the growth of the continuous glucose monitoring market.
Q. Which device/brand and region have dominated the market?
The segment of Guardian Real Time CGM System led the market in 2012 and was trailed by Dexcom Seven Plus CGM system. On the other hand, in the forecast horizon between 2013 and 2019, the development of the segment of FreeStyle Navigator will witness immense growth.
Geographically, North America held a dominant share in the market for CGMS on the basis of revenue in 2012. This is due to the increasing geriatric population, the increasing obesity, and the growing acceptance of cutting-edge devices in this region. North America was trailed by Europe, which was further followed by Asia Pacific, constituting the third position in the market. In addition, Asia Pacific is predicted to hold the most lucrative opportunities in the growth of the market in forthcoming years.