Fitness Trends Global Continuous Glucose Monitoring (CGM) Market

Global Continuous Glucose Monitoring (CGM) Market
Attractive Industry Opportunities in Market Estimate to
Grow at a Significant Rate Throughout 2016-2024
Diabetes is a major global concern that, as per International Diabetes Federation (IDF) data,
affected around 415 million people in 2015. Effective management of diabetes is vital,
especially considering the sedentary lifestyle that most people across the globe have taken up.
Continuous glucose monitoring (CGM) systems offer effective solution in diabetes management
through continuous real-time glucose monitoring. Increasing awareness, supporting safety
evidences for CGM systems and growing demand for point-of-care (POC) devices are major
factors driving demand across the globe. However, high prices of these systems and the rather
cumbersome experience of wearing of these relatively obtrusive gadgets throughout the day is
currently restraining its demand in the low and middle income countries, where there is
inadequate penetration of healthcare IT products and services.
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Market Dynamics:
Demand for point-of-care (POC) diagnostic devices, and growing self-monitoring trends across
the globe. According to the International Diabetes Federation (IDF), the global diabetic
population in 2015 was 415 million and is expected to reach 642 million by 2040. Increasing
awareness about CGM devices among the diabetic population is projected to be a major factor
driving demand for the device in the near future. Moreover, patients are increasingly inclined
towards real-time health monitoring, which is possible through CGM systems. Conversely, high
prices of devices and calibration issues are key challenges that can inhibit market growth.
Companies therefore, need to improve upon the accuracy of the device, which in turn would