sensors segment is expected to increase at a faster growth rate during the forecast period ( 2016 – 2024 ).
To know the latest trends and insights prevalent in this market , click the link below : https :// www . coherentmarketinsights . com / market-insight / continuous-glucose-monitoring-market- 57
Rapid increase in demand for CGM devices , especially in emerging economies , is mainly attributed to increasing consumer awareness regarding the importance of monitoring presence of glucose in the body in order to sustain a healthy life
North America and Europe were the largest markets for continuous glucose monitoring , collectively accounting for over 75 % share of the global continuous glucose monitoring market in 2015 . This was mainly owing to new product launches , rapid adoption of new technologies , and high product awareness in these developed regions . However , with increasing prevalence of diabetes in emerging economies such as India , China , Taiwan , Brazil , South Korea , and South Africa , demand for CGM devices is expected to witness a steep incline in these countries over the forecast period .
According to the International Diabetes Federation ( IDF ), around 75 % of the diabetic population lives in low and middle income countries such as Mexico , India , China , Brazil , Colombia , Libya , Iran , and Turkey . Asia-Pacific accounted for over 50 % of the global diabetic population in 2015 , with prevalence rate being the highest in China and India . Market penetration in these countries is relatively low , mainly due to high prices of CGM devices . However , the scenario in Asia Pacific region is expected to change in the near future due to increasing patient awareness and decreasing prices of these systems ., which would change the industry dynamics and impact the market growth positively , expanding at a CAGR of 15 % during the forecast period .
Integration of advanced technologies is expected to provide a competitive edge to CGM device manufacturers
�
�
�
Senseonics , Inc . received CE approval for its Eversense CGM system , the world ’ s first long-term implantable CGM . Eversense system uses a 90-day implanted sensor , while conventional CGM systems rely on five-to-seven day sensor capacity . GlySens implantable continuous glucose monitoring ( ICGM ) system is undergoing clinical evaluation for safety and accuracy Medtronic , Inc . collaborated with Fitbit to integrate the physical activity data of the Fitbit wearable with the glucose levels in a single application called iPro2 myLog
Browse Press Release : https :// www . coherentmarketinsights . com / press-release / continuousglucose-monitoring-market-to-reach-us-102-billion-by-2024-4
These new technologies would give Senseonics , Inc ., Medtronic , Inc . and GlySens Incorporated a competitive edge over the existing leading players such as Roche Diagnostics , Dexcom Inc ., and Bayer AG .
Global players need to explore the untapped geographies and simultaneously should focus on upgrading their CGM technology
Major players in the global continuous glucose monitoring market include Abbott Laboratories , Roche Diagnostics , Dexcom Inc ., Bayer AG , Medtronic , Inc ., Animas Corporation , Nova Biomedical Corporation , Ypsomed AG , GlySens Incorporated , Insulet Corporation , and Sensionics Incorporated . Technology and price are the main differentiating factors of CGM systems for these companies . With the existing blood glucose monitors being the priority device for diagnosing diabetes and monitoring , CGM