Portland, OR (PressExposure) July 10, 2014 -- Reports and Intelligence incorporates a report titled "Continuous Glucose Monitoring Market (CGM Systems, Application, Diabetic Type, and Adoption by Age Group) - Current Trends, Size, Share, Industry Analysis, Competitive Intelligence, Growth, Opportunities and Global Forecasts, 2012 - 2020."
The report projects global continuous glucose monitoring (CGM) market to stand at $68.5 million by 2020, with a healthy CAGR of 14.8% during the study period. Factors working positively towards the market are feasibility offered by CGM over conventional glucose monitoring gadgets, increase in diabetic's pool, earlier detection of the hypo and hyperglycemic events and rising awareness globally regarding diabetes.
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"The market is overcoming several challenges towards the commercialization of closed loop CGMs with significant focus on technological innovation. This is expected to take the concept of CGM to a next level from research to mass adoption" noted AMR analyst Debbie Shields. Despite such encouraging innovations, commercialization has not reached to desired levels. Major factors responsible for this are issues related with accuracy as well as cost, less attractive reimbursement coverage, and strict regulatory impositions. "However, the under commercialization is presenting opportunities for the marketers as new and innovative products will easily take the advantage of lower product presence" Debbie explains. The impact of FDA approval for artificial pancreas, superiority of CGMs over self-monitoring devices and rise in diabetes cases will have significant impact on the overall market growth.
The market is fragmented based on age, application, and type of diabetes. Home settings recorded maximum revenue in 2012. The acceptance of CGM would grow in the hospitals during the study period. On the other hand, improvements in the sensor products would makerglucose sensors the maximum revenue generators within sensor products segment surpassing transmitters & receivers to record a market value of $235.9 million by 2020.
North America was the highest revenue generating region in the year 2012. Nevertheless, Asia Pacific is anticipated to register the highest growth rate. Key firms analyzed in the report include Medtronic Inc., Dexcom Inc., Novo Nordisk, Spring Health Solution Ltd, Roche, Animas Corporation, Ypsomed AG, and Insulet Corporation.
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