North America Continous Glucose Monitoring System Market Forecast 2017-2025
The North America market for the CGMA is estimated to grow $ 9372.07 million by 2025 at CAGR of 34.05%. The forecast period of the CGMA market is from 2017 to 2025 and the base year deliberated for the market study is 2016. North America has a colossal market share of CGMS market. 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 are some of the factors leading to the market growth.
The diverse factors leading to the CGMS market are an augmented 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.
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, non-invasive glucose sensors, minimally invasive glucose sensors and real-time sensors. The glucose monitors applications end-users include homes, hospitals, diagnostics and clinics.
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 hassle-free monitoring of blood and the launch of an artificial pancreas are the market drivers for CGMS.
Hospitals have the largest market share in terms of the end-user segment. The highest CAGR is expected for Home healthcare as an end-user. 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.
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.