Continuous glucose monitoring market report released

Allied Market Research (AMR) has released a market research report analysing current and future trends in the continuous glucose monitoring (CGM) market from 2012 to 2020. The report projects that the CGM market will reach $568.5 million by 2020 from its 2012 value of $194.8 million, growing at a CAGR of 14.8% during 2013-2020.

AMR analyst Debbie Shields said the market is “overcoming several challenges towards the commercialisation 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.”

The company noted that commercialisation has not reached to desired levels; factors responsible for this are issues related with accuracy as well as cost, less attractive reimbursement coverage and strict regulatory impositions. “However,” said Shields, “the under-commercialisation is presenting opportunities for the marketers as new and innovative products will easily take the advantage of lower product presence.”

Market growth will be driven by factors such as:

• The impact of FDA approval for an artificial pancreas.
• The convenience offered by CGM over conventional glucose monitoring devices.
• Earlier detection of hypo- and hyperglycaemic events.
• A rise in incidences of diabetes cases globally.
• Awareness among the global population.

The largest overall revenue is projected to be generated from glucose sensors; technology which is expected to improve during the period. While the transmitters and receivers market accounted for the largest share of revenue of the CGM market at $88.5 million in 2012, glucose sensors will surpass this and attain a market size of $235.9 million by 2020, growing at a CAGR of 15.3%. Insulin pumps are also expected to have the highest growth rate during the analysis period.

In the CGM application market, home settings was the largest revenue-generating segment in 2012; during the forecast period, the most attractive overall segment is expected to be CGM application in hospitals. On a global scale, the North American region accounted for the largest share of revenue of the CGM market in 2012, but the Asia-Pacific region will have the highest growth rate during the analysis period.

The report is available at http://www.alliedmarketresearch.com/continuous-glucose-monitoring-cgm-market.