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DUBLIN--(BUSINESS WIRE)--Oct 5, 2022--
The "Continuous Glucose Monitoring (CGM) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Continuous Glucose Monitoring (CGM) Market is expected to register a CAGR greater than 13% over the forecast period, 2022-2027.
Governments around the world developed programs to educate diabetes patients and health care providers about the usage of continuous glucose monitoring devices. The German government provides training through Diabetes Care and Education Specialists under the names Flash, Spectrum, and other programs to train diabetes patients as well as other health care providers on how to use continuous glucose monitoring devices. A study in Korea conducted by the Korean Association of Diabetes Nurse Educators stated that the diabetes education program on how to use the Continuous Glucose Monitoring Devices increased the usage of devices.
Key Market Trends
Sensors are Expected to Witness Growth Over the Forecast Period
Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated to the transmitter. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period.
The COVID-19 pandemic emphasizes the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from the viral illness. According to a research study by Joost van der Linden et al., published in Diabetes Technology & Therapeutics Journal in March 2021, population-level real-time continuous glucose monitoring (rtCGM) was used to monitor changes in glycemic control with temporal and geographic specificity. The COVID-19 pandemic is associated with improvements in time-in-range (TIR), which were not evenly distributed across the United States.
Globally, diabetes mellitus has been of wide concern with its high global prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments. Continuous glucose monitoring has become a popular alternative to the portable finger-prick glucometers available in the market for the convenience of diabetic patients.
According to a research study by Ziyi Yu et al., published in IOP Science Journal in March 2021, a large variety of promising glucose-sensing technologies from traditional electrochemical-based glucose sensors to novel optical and other electrical glucose sensors has been developed which shows a positive impact on the market growth.
The market players are adopting various strategies such as collaborations, partnerships, mergers, acquisitions, and expansions to increase market share. For instance, in March 2019, WaveForm Technologies Inc., a developer of novel products for continuous glucose monitoring, and A. Menarini Diagnostics S.r.l., a leading diagnostics company, entered a partnership to commercialize the WaveForm Technologies Continuous Glucose Monitor (CGM). Thus, owing above-mentioned factors it is expected to drive the segment growth over the forecast period.
North America is Expected to Dominate the Insulin Delivery Devices Market.
Some of the factors that are driving the market growth in the North American region include increasing cases of diabetes and efforts taken by the national government to manage the disease at a larger level along with rising adoption of alternate and novel devices and the presence of key market players.
According to a research study by Sandip Garg et al., published in Diabetes Technology & Therapeutics Journal in March 2021, the COVID-19 pandemic has exposed vulnerabilities and placed tremendous financial pressure on nearly all aspects of the United States health care system.
Diabetes care is an example of the confluence of the pandemic and the heightened importance of technology in changing care delivery. It has been estimated the added total direct United States medical cost burden due to COVID-19 ranges between USD 160B (20% of the population infected) and USD 650B (80% of the population infected) throughout the pandemic.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/qeej3r
View source version on businesswire.com:https://www.businesswire.com/news/home/20221005005438/en/
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KEYWORD:
INDUSTRY KEYWORD: HEALTH DIABETES
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/05/2022 05:24 AM/DISC: 10/05/2022 05:24 AM
http://www.businesswire.com/news/home/20221005005438/en