Seattle, WA -- (SBWire) -- 11/11/2019 --The major factors driving growth of the continuous glucose monitoring (CGM) devices market include rapid technological advancements and convenience offered by the continuous glucose monitoring devices over the self-monitoring devices such as minimized finger pricks and special software for data tracking.
Moreover, the rising adoption of the CGM devices for gestational diabetes monitoring in pregnant women is expected to accelerate the demand for continuous glucose monitoring devices in the forecast period as diabetes management is important with respect to the pregnancy outcomes. According to the survey by Diabetes Digital Media Ltd., 2016, gestational diabetes is estimated to account for 3-5% of all pregnancies, i.e., 1 in 20 pregnant women will develop gestational diabetes globally.
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However, A CGM system is more expensive than using a standard glucose meter as the sensor lifetime is a major factor affecting the cost, inconvenience and user acceptance. Also, health plans, insurance companies, and governments in most countries do not provide reimbursement for CGM, thus the patients have become reluctant towards the adoption of CGM, which costs approximately US$ 3,000 per year per patient, thus restraining market growth.
It profiles leading players in the global continuous glucose monitoring (CGM) devices market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study include Medtronic, Dexcom, Inc., Abbott Laboratories, Medtrum Technologies, Inc., Tandem Diabetes Care, Senseonics, Glycens, Insulet Corporation, and Nemaura Medical, Inc., STMicroelectronics, NXP Semiconductors, Qualcomm, Taiwan Semiconductor Manufacturing Company Limited, GE Healthcare, Microchip Technology Inc., Texas Instruments Inc. and Micron Technology Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
The global continuous glucose monitoring (CGM) devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
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The CGM displays a glucose trend graph and direction arrows allowing people with diabetes to anticipate approaching glucose highs and lows, thus alerting the wearer during distracted times like playing, sleeping or exercising. The CGM devices market is expected to gain a significant traction in Asia Pacific owing to the collaborations between endocrinologists, credentialed diabetes educators and stakeholder organizations for diabetes prevention.
In 2017, National Diabetes Services Scheme (NDSS) initiated by Australian Government provided fully subsidized continuous glucose monitoring (CGM) products to eligible children and young people aged under 21 years with type 1 diabetes. NDDS also funded US$35 million to the JDRF Clinical Research Network to help find a cure for juvenile diabetes. Additionally, the Government also funded Insulin Pump Programme to increase the affordability of insulin pumps to people with type 1 diabetes who don't have access to private health insurance.
Some of the major players operating in the global continuous glucose monitoring (CGM) devices market are Medtronic, Dexcom, Inc., Abbott Laboratories, Medtrum Technologies, Inc., Tandem Diabetes Care, Senseonics, Glycens, Insulet Corporation, and Nemaura Medical, Inc., STMicroelectronics, NXP Semiconductors, Qualcomm, Taiwan Semiconductor Manufacturing Company Limited, GE Healthcare, Microchip Technology Inc., Texas Instruments Inc. and Micron Technology Inc.
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Continuous Glucose Monitoring (CGM) Market in 2018 and Is Expected to Witness a Robust CAGR of 24.8%