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The global glucose monitoring system market is separated into continuous glucose monitoring market CGMS and selfmonitoring of blood glucose SMBG market. The CGMS market is anticipated to grow $ 13672 million by 2025. The SMBG market is expected to grow from $12481 million in 2016 to $20563 million by 2025., at a CAGR of 36.72% between 2016 and 2025. The base year considered for the market study is 2016 and the forecast period is between 2017 and 2025. The CGM continuous glucose monitoring device is system practiced to measure glucose levels in the interstitial fluid that commence between the skin cells and display in the monitor. SMBG Selfmonitoring of blood glucose is to supervise glucose level.
The continuous glucose monitoring system and selfmonitoring blood glucose is segmented into component type, application, and geography. The CGMS market by component type is segmented into sensors, transmitters, receivers, and insulin pump. The application segmented of CGMS is further segmented into diagnostics and clinics, hospitals, and home settings. The SMBG market by the component is segmented into test strips, glucose meter, and others. The application segmented of SMBG is further bifurcated into home settings, clinics, and hospitals. The geography market is segmented into North America, Europe, AsiaPacific, Latin America and rest of the world. Rise in Diabetic Population, growth in Healthcare Expenditure, high Focus on Research and Development, Technology Integration, Increase in the CGMS Affordability, and less Price of Technology are the major drivers for the Glucose monitoring market.
The CGMS and SMBG market in North America is anticipated to hold the largest share by 2025 whereas in both CGMS and SMBG market Asia Pacific is expected to be the fastest growing region with a CAGR of 48.72% and 11.22% during the forecast period. North America is a highly developed market for CGMS and SMBG with over 3 million of Type 1 Diabetes T1D. The US is the largest market for the current CGMS. There are about 60 million diabetics in Europe. In 2016, Europe CGMS market accounted for $83 million and estimated to witness a CAGR of 41.72% during the forecast period. The SMBG market is accounted for $1180 million and anticipated to witness a CAGR of 8.14% during the forecast period. Asia Pacific is anticipated to be the fastest growing region in the CGMS and SMBG market. Increasing prevalence rate of diabetes in India and China are creating significant opportunities for continuous glucose monitoring system in the region. In 2015, more than 200 million people in Asia are already suffering from diabetes and the number is estimated to exceed 300 million by 2030.
Major players for the Glucose monitoring market are Dexcom, Johnson and Johnson, Tandem diabetes, Roche diagnostics, Nemaura medical Inc., Senseonics, Glysens incorporated Medtronic, Abbott, Insulet corp., and Echo therapeutics.
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