According to a new report by Big Market Research “Continuous Glucose Monitoring Market (CGM Systems, Application, Diabetic Type, and Adoption by Age Group) - Current Trends, Size, Share, Industry Analysis, Competitive Intelligence, Growth, Opportunities and Global Forecasts, 2012 – 2020” is estimated to reach $568.5 million by 2020 from 2012 value of $194.8 million growing at a CAGR of 14.8% during 2013 - 2020. The major factors driving the market growth are handiness offered by CGM over conventional glucose monitoring devices, earlier detection of the hypo and hyperglycemic events, increasing diabetes cases globally, and awareness among global population.
A rise in incidence of diabetes across the globe has elevated the need of innovative diabetic management devices which in turn has increased adoption of continuous glucose monitoring (CGM) devices. The existing glucose monitoring devices have few gaps which are bridged by the innovative CGM. With continuous glucose monitoring, significant improvement has been observed in stabilizing elevated A1C levels which in turn reduces risk of developing long term diabetic complications. Other driving factors for CGM market are technological innovation in the form of artificial pancreas, increasing awareness among developed, developing and under developed economies, and rise in incidences of diabetic patients. However, factors such as strict regulatory impositions, inadequate reimbursement options for CGM and accuracy as well as cost of the CGMs are restraining the market growth.
The complete report is available at: http://www.bigmarketresearch.com/continuous-glucose-monitoring-cgm-market