North America Glucose Monitoring System (Cgms & Smbg) Market Forecast 2017-2025KEY FINDINGS
The growth of the CGMS market in North America region is likely to reach $9372.07 million by 2025. Throughout the forecast period, the expected CAGR is 34.05%. The SMBG North America market is growing with the expected CAGR of 4.64% with the market share of $10178 million in 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 are leading factors for the growth of the GMS market in the region.
The GMS market is segmented into CGMS market and SMBG market, which is further bifurcated into component type, and application. The SMBG market by component type is segmented into the glucose meter, test strips, and others. The market of CGMS by component type is divided into transmitters and receivers, sensors and insulin pump. The application market of SMBG includes clinics, hospitals, and home settings. On the other hand, the market of CGMS application is divided into hospitals, diagnostics and clinics and home settings. Restriction in the growth of CGMS due to SMBG producers and lack of awareness is majorly declining the growth of the GMS market in the North America region.
The major companies that are mentioned in GMS market report are Medtronic Inc., Ypsomed AG, Novo Nordisk, Bayer AG Roche, Animas Corporation, Glysens Inc., Abbott Laboratories, Insulet Corporation, and Dexcom Inc.