(I-BusinessNews.Com, August 05, 2020 ) According to the latest report by Renub Research, titled “Continuous Glucose Monitoring (CGM) Market, Users, Reimbursement Policy, Global Analysis, CGM Components Market, Diabetes (Type1 & 2) Population, & Forecast” Medical science is undergoing massive development from the past few years. There has been tremendous research and development in blood glucose monitoring devices due to this Continuous Glucose Monitoring (CGM) is the result of this invention. CGM is one of the recent developments in the field of diabetes management. It monitors blood glucose through subcutaneous by inserting a biosensor or by transcutaneous. This embedded sensor monitors the glucose level in blood or interstitial fluid and then transmits data to the receiver/monitor using a transmitter, which become helpful in the treatment of diabetics. According to Renub Research report, the Global CGM Market is anticipated to be US$ 5.6 Billion by the end of the year 2025.
Due to all these several benefits of Continuous Glucose Monitor over other monitoring devices, this has become a vital device for management of diabetes, especially for Type1 diabetes patients. It gives details for blood glucose continuously as compared to the traditional glucose monitor, which offers one time result. Multiple medical device companies are investing heavily in the development of producing technologically advanced Contiguous Blood Glucose Monitor System to have a competitive advantage over other healthcare companies.
COVID-19 impact on Continuous Glucose Monitoring Systems
COVID-19 has affected global healthcare system, and diabetes management is one of them. Currently, healthcare facilities are focusing on the treatment of COVID-19 patients, and other patients are not receiving medical facilities as they were receiving in the past. Most of the health experts are providing consultation through telehealth systems.
Factors Driving the Continuous Glucose Monitoring Industry
The market for blood glucose is growing due to increasing number of diabetic patients worldwide as people are following a sedentary lifestyle. Another reason increasing per capita income, rise in computer uses that leads to obesity, lack of physical activity, consumption of unhealthy meals, an increasing number of geriatric population. Healthcare facilities are also receiving massive funding from various resources; this will also help diabetic patients in the long run. Systems like CGM will become more technically advanced in upcoming years.
This growth in the number of diabetic patients has grown multiple times from the last few years, and diabetics are the 7th leading cause of human death all over the world. According to the International Diabetes Federation at the end of the year 2040, the number of diabetic patients is forecasted to cross 642 Million, in the year 2015, there were 415 Million patients in the whole world. By the end of the year 2040, there will be 1 out of every 10 adults is expected to have diabetes.
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Market by Country: This research report has covered the market and diabetes (Type1 & 2) population, the number of CGM users and reimbursement policy for 11 countries: United States, Canada, Germany, Australia, France, Netherlands, Switzerland, Sweden, Israel, United Kingdom and Japan.
By CGM Components: Continuous Blood Glucose research report covers the market for Glucose Sensor and Transmitter.
Reimbursement: This report covers the reimbursement details for 11 countries.
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