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The Latin America market for the CGMA is estimated to grow $ 798.58 million by 2025 at CAGR of 47.84%. The forecast period of the CGMA market is from 2017 to 2025 and the base year deliberated for the market study is 2016. With an awareness of benefits of using continuous glucose monitoring systems, better healthcare infrastructure, accelerated incidences of diabetes due to a sedentary lifestyle and high healthcare expenditure, increase in the number of people suffering from diabetes, authorization of artificial pancreas, greater awareness, and improved healthcare infrastructure and ease of using CGMS devices are some of the factors leading to the market growth.
The market is segmented by application, product type, and geography. There are diverse product types comprising CGMS including the transmitters and receivers, and the sensors. The Sensors are further segmented on the basis of holter type retrospective sensors, insulin pumps, noninvasive glucose sensors, minimally invasive glucose sensors and realtime sensors. The glucose monitors applications endusers include homes, hospitals, diagnostics and clinics.
Hospitals have the largest market share in terms of the enduser segment. The highest CAGR is expected for Home healthcare as an enduser. High costing of continuous glucose monitoring systems, deficient reimbursement options, and stringent regulatory norms are the factors that are likely to restrain the market growth.
High acceleration in the prevalence of diabetes, rising health awareness in developing countries, changes in lifestyle, sedentary lifestyle, the rise in the need of efficient and hasslefree monitoring of blood and the launch of an artificial pancreas are the market drivers for CGMS.
The major companies that are mentioned in CGMA market report are Medtronic Inc., Ypsomed AG, Novo Nordisk, Bayer AG Roche, Animas Corporation, Glysens Inc., Abbott Laboratories, Insulet Corporation, and Dexcom Inc.
Health care (or healthcare) is the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans. Health care is delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, a...