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“Continuous Glucose Monitoring Systems Market: Global Industry Analysis and Opportunity Assessment 2015 – 2020”
Continuous glucose monitoring systems are gaining traction among diabetics, especially in North America. The global CGM market is expected to reach US$ 446 million by the end of 2015.

North America will continue to be the bedrock of global demand for continuous glucose monitoring (CGM) systems, according to a report by research and consultancy firm, Future Market Insights (FMI). 

Demand for CGM systems is projected to reach nearly US$ 446 million by 2015 end, out of which, North America is expected to account for US$ 239 million. The popularity of CGM systems in North America can be gauged from the fact that Western Europe, the second largest market for CGM systems, is expected to be valued at US$ 83 million, nearly one-third of the market in North America. 

Recent breakthroughs in the development of artificial pancreas are fuelling the demand for CGM systems globally. In artificial pancreas systems, continuous glucose monitoring technology is combined with insulin pumps in order to respond to the rising blood-glucose levels and provide the right amount of insulin. 

Rising Diabetes Levels Fuelling Demand 

Increase in the prevalence of diabetes globally is a key factor fuelling the demand for CGM systems. According to the World Health Organization (WHO), global prevalence of diabetes was estimated to be 9% among adults aged 18 years and above. Diabetes is forecasted to be the 7th leading cause of death in 2030. 

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Awareness about the availability of CGM systems is high among diabetics in North America. Although the level of awareness in Western Europe is comparable to North America, the number of diabetics in the former is far lower than the latter. 

Rising geriatric population in the US is also expected to push demand for CGM systems in the near future. Nearly 27% of adults aged 65 and above in the US are diagnosed with diabetes. Demand from this segment of the population is expected to fuel the CGM market in the US in the next five years. 

CGM systems range anywhere between US$ 4,930 to US$ 7,120, raising issues with affordability, especially in emerging countries. Considering WHO’s analysis that 80% of diabetes deaths occur in low- and middle-income countries, the adoption of CGM is expected to be limited to developed countries and a tiny segment in the emerging world. 

A key trend in the global CGM market is that demand is higher in households as compared to hospitals/diagnostics centres. Demand for CGM systems from households is expected to reach US$ 306 million by end of 2015, compared to US$ 139 million demand from households/diagnostic centres. However, hospitals and diagnostic centres are expected to generate higher demand for CGM systems in the next five years.

Browse Full: “Continuous Glucose Monitoring Systems Market: Global Industry Analysis and Opportunity Assessment 2015 – 2020” Market Research Report at:
http://www.futuremarketinsights.com/reports/details/continuous-glucose-monitoring-systems-market 

Adoption of CGM devices is expected to benefit suppliers of sensors, transmitters, monitors, and insulin pumps – key components used in the manufacture of CGM systems. FMI expects high demand for transmitters and monitors, followed by sensors and insulin pumps. By the end of 2015, demand for transmitters and monitors is expected to reach US$ 183 million, up from US$ 166 million in 2014. 

The key CGM systems companies are Medtronic, Dexcom, and Abbott. These three companies collectively account for over 88% of the market share. Medtronic currently dominates the CGM market, with nearly 50% share of the market. 

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