According to a new market research report, the global continuous glucose monitoring market is projected to reach $568.5 million by 2020. The report, from Allied Market Research says that the major factors driving CGM market growth are the convenience it offers over conventional glucose monitoring devices in providing earlier detection of hypo and hyperglycemic events along with the rise in the number of diabetes diagnosis globally, and the growing awareness among the diabetes population of CGM technology.
The report categorizes the market by devices, application, type of diabetes, and patients’ age. In the CGM application market, home settings was largest revenue-generating segment in 2012. However, CGM application in hospitals is expected to emerge as the highest-growth segment in the overall application market during the forecast period. In the overall market, glucose sensors are projected to generate the largest revenue, mainly due to improvements in sensor technology over the next seven years.
Companies profiled in the report include Medtronic Inc., Dexcom Inc., Novo Nordisk, Spring Health Solution Ltd, Roche, Animas Corporation, Ypsomed AG, and Insulet Corporation.
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