Report Description
Continuous Glucose Monitoring – Live an Uninterrupted Life
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 .
The global continuous glucose monitoring market was valued at US $ 444 million in 2015 and is expected to expand at a CAGR of 9.8 % during the period 2016 – 2024 .
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Figure 1 . Global Continuous Glucose Monitoring ( CGM ) Market Size and Forecast , US $ Million and Y-o-Y Growth (%), 2014- 2024
Source : Coherent Market Insights Analysis ( 2016 )
Sensors to emerge as highest revenue contributor among component segments
Sensors are an integral part of CGM system . The type and sensitivity of the sensor are crucial factors that influence accuracy of sensing glucose level in the interstitial fluid . Although , transmitters hold a dominant share , accounting for over 50 % ( 2015 ) share of the market , revenue contribution of the