Continuous Glucose Monitoring (CGM) Systems – Global Pipeline Analysis, Competitive Landscape

Jan. 20, 2012 - PRLog -- The global Continuous Glucose Monitoring (CGM) systems market was valued at $92.2m in 2010, and is forecast to grow to a value of $198m by 2017 at a Compound Annual Growth Rate (CAGR) of 11.6%. The market is forecast to grow due to the increased diabetes patient population across the globe, growing acceptance of CGM systems in low and middle income countries, and an improving reimbursement scenario for CGM systems among private and federal healthcare insurance service providers in the US market.

The CGM systems market is still very much a niche market, with the majority of sales coming from the US, which accounts for 94% of the revenue earned from CGMs. The European market for CGM systems is still in a nascent stage and contributes only 2% towards the global CGM revenues. The remaining market, which consists of the Asia-Pacific region and Brazil, contributes 4% to the global revenues. The main reason for the slow growth rate of the global CGM systems market is the late launch of CGM systems in advanced nations such as Japan and Australia pertaining to regulatory approval, and a slow acceptance of CGM systems in low and middle income nations, such and China and India. The lack of reimbursement and high out-of-pocket cost of CGM systems are also an inhibiting factor for market growth outside the US.

Medtronic was the leading player in 2010’s global CGM market, holding a 72% market share. The other players in the CGM market are Dexcom and Abbott; however, as Abbot has withdrawn its CGM product from the US market its share is expected to decrease further. In future, the market is likely to observe a number of new technology-intensive companies launching their own CGM products, either in collaboration with the already established players or on their own. The market may be also consolidated by acquisition of such small technology start-ups by established market players to advance their own R&D.

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The market may witness a significant change if any of the existing or new CGM market players are able to develop and launch a diabetes management product based on closed loop technology. This technology, also known as ‘Artificial Pancreas’, is seen as a revolutionary technology with a very promising future in the field of diabetes management. A number of companies, both new and established, are involved in the development of closed loop technology.

GlobalData’s new report, “Continuous Glucose Monitoring (CGM) Systems - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global Continuous Glucose Monitoring (CGM) systems market. The report details the market landscape, competitive landscape and market trends information on the CGM systems market. It also provides comprehensive information on the key trends and technologies affecting the market, and key analytical content on the market’s dynamics.

This report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GlobalData’s team of industry experts.

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