In a recent published report, Kenneth Research has updated the market report for Continuous Glucose Monitoring Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Continuous Glucose Monitoring Market products.
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Kenneth Research has recently added a report titled Continuous Glucose Monitoring Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Kenneth Research has published a detailed report on Continuous Glucose Monitoring Market which has been categorized by market size, growth indicators and encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2020-2025.
The report covers the forecast and analysis of the Continuous Glucose Monitoring Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2020-2025 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Continuous Glucose Monitoring Market over the period 2020-2025.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Continuous Glucose Monitoring is a device that provides an effective way to monitor the sugar levels to understand the varying blood sugar level throughout the day and to understand the state of glycemic excursions in a patient. CGMS provides real-time glucose information every five minutes offering upto 288 readings in a 24 hour period and providing insights to monitor and control diabetes.
This is helpful for patients who witness high blood sugar levels during odd times of the day and are not detected by regular tests such as fasting blood sugar or blood sugar test after food. Hence, the use of CGMS provides essential insights allowing to fittingly modify the sugar treatment of patients.
One of the major factors for the growth of CGMS is the growing diabetic population globally. According to International Diabetes Federation, it is estimated that 425 million people are suffering from diabetes globally with 82 million in the South East Asia region. Furthermore, growing geriatric population and obesity is further leading to growing diabetic population worldwide.
In terms of geographic segmentation, North America and Europe stands to hold majority of the market in 2017 owing to high product awareness among the populous, growing diabetic population, adoption of new technologies and high diabetic diagnostic spending in the region. According to American Diabetes Association, it was estimated that 30.3 million Americans had diabetes in 2015 while it is estimated that around 1.5 Americans are diagnosed with diabetes every year.
APAC stands to be one of the fastest growing market for CGMS owing to high prevalence of diabetic population in the region. According to International Diabetes Federation, in 2017 around 72.9 million of the Indian population and around 114.4 million people in China have diabetes within the age group of 20-79 years and this is expected to reach to 134.3 million and 119.8 million for India and China respectively by 2045.
Technological advancements and product launches are key to the market growth of continuous glucose monitoring market. For instance, in 2018, the FDA approved new glucose monitoring system by Dexcom Inc, to check the blood sugar levels in people suffering from diabetes and can also be used along with insulin pumps.
Some of the key leading players in the Global Continuous Glucose Monitoring System Market include Bayer A.G., Abbott Laboratories, Medtronic Plc, Johnson & Johnson Inc, Roche Holdings A.G., Sensionics Incorporated, Dexcom Inc, Mernarini Diagnostics S.R.L., Echo Therapuetics Inc., and Arkray USA Inc.
The Continuous Glucose Monitoring Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
Key points covered in this report:
• The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
• The import and export details along with consumption value and production capability of every region is mentioned in the report.
• Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
• The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
ANSWERED TO THE FREQUENTLY ASKED QUESTIONS :
WHAT IS THE SCOPE OF THE REPORT?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
WHAT ARE THE KEY SEGMENTS IN THE MARKET?
• By product type
• By End User/Applications
• By Technology
• By Region
WHICH MARKET DYNAMICS AFFECTS THE BUSINESS?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Key Topic Covered in this Report
• Market Growth Opportunities
• Leading Market Players
• Market Size and Growth Rate
• Market Growth Drivers
• Company Market Share
• Market Trends and Technological
The Continuous Glucose Monitoring Market report highlight the economy, past and emerging trend of industry, and availability of basic resources. Furthermore, the market report explains development trend, analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out. In the end, the report makes some important proposals for a new project of Continuous Glucose Monitoring Market before evaluating its possibility.
About Kenneth Research:
Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.