Continuous Glucose Monitoring Devices Market To Reach USD 14.7 Billion By 2026 | CAGR of 19.2%
: New York, United States, 05-August-2020, (Via WiredRelease), (Reports and Data) – According to a report by Reports and Data, the Continuous Glucose Monitoring devices market was valued at USD 3.45 Billion in 2019 and is estimated to reach USD 14.7 billion by 2026, growing at a CAGR of 19.2%. Estimating and identifying appropriate blood glucose level in patients through continuous glucose monitoring (CGM) devices is a vital component of therapy success. Continuous glucose monitoring evolved from enzyme-based electrochemical glucose sensors. It is an instrument with a small sensor attached with a transmitter for daily diabetes management. The Continuous Glucose Monitoring devices aid in better diabetes management by proactively tracking glucose level fluctuations in interstitial fluid as a basis for improving metabolic control. CGM devices help in reducing the risk of hyperglycemia & hypoglycemia.
The global spread of diabetes along with increasing geriatric population and continuous technological advancements have propelled the market growth of the CGM devices. According to the WHO, Diabetes is increasing at an alarming rate in the United States, and nearly 30.3 million people, or 9.4% of the U.S. population, have diabetes. An estimated 23.1 million people – or 7.2% of the population – had diagnosed diabetes.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Dexcom, Abbott Laboratories, Pfizer Inc., Inc. Baxter International, Menarini Diagnostics, Johnson & Johnson, Medtronic PLC, Animas Corporation, and Novo Nordisk A/S, ARKRAY, Inc., Bayer AG, Terumo Medical Corporation, Echo Therapeutics, Inc.; Medtronic PLC; F. Hoffmann-La Roche Ltd., GlySens Incorporated.
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For the purpose of this report, Reports and Data have segmented into the global Continuous Glucose Monitoring Devices market on the basis of type, propellants, application, and region:
By Component (Revenue, USD Million; 2016-2026)
Insulin PumpsTransmitters & receiversSensors
By End-Use (Revenue, USD Million; 2016-2026)
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key insights of the report:
The report delivers key statistics on the current market status of the Continuous Glucose Monitoring Devices manufacturers and is a reliable source of guidance and direction for the companies and individuals interested in the industry.
The report delivers an overview of the industry, including the basic definition, applications, the latest manufacturing technology, and others.
The report comprises of the company profile, product specifications, production capacity, production value, and market shares for the key competitors.
The market is further divided by company, by country, and by application/type for the competitive landscape analysis.
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