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US$ 445.8 Million Worth of Continuous Glucose Monitoring Systems to be Sold by End of 2015: Future Market Insights

Valley Cottage, NY, Sept. 24, 2015 (GLOBE NEWSWIRE) -- Global sales of continuous glucose monitoring (CGM) systems will reach US$ 445.8 million by the end of 2015, up from US$ 402 million in 2014. Increase in prevalence of diabetes and innovation in development of artificial pancreas are driving the demand for CGM systems globally.

Demand for continuous glucose monitoring systems is currently higher in household vis-à-vis hospitals. Sales of CGM systems to households are expected to reach US$ 306 million by the end of 2015, up from US$ 275 million in 2014; in contrast, sales to hospitals and diagnostic centres is expected to be worth US$ 139 million.

Key components involved in the manufacture of continuous glucose monitoring systems include sensors, insulin pumps, and transmitters and monitors.

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Transmitters and Monitors Largest Segment by Component Type

Transmitters and monitors is the largest segment in terms of value, followed by sensors and insulin pumps. Transmitters and monitors component segment is expected to reach US$ 183 million by the end of 2015, witnessing an increase of US$ 17 million from its 2014 valuation.

Demand for insulin pumps was higher than sensors in 2014; however, by the end of 2015, insulin pumps will surpass sensors in terms of value. By the end of the forecast period 2015-2020, FMI expects sensors to be valued at US$ 252 million vis-à-vis US$ 225 million valuation of insulin pumps.

Medtronic Holds Nearly 50% Market Share Currently

Medtronic is the largest player in the global CGM systems market, and is expected to represent nearly 49% of the market revenue share by the end of 2015. Dexcom and Abbott are expected to represent 31.1% and 16.7% market share respectively in 2015.

The diabetes division of Medtronic accounts for nearly 10% of the company's total revenues. Medtronic employs a cross-functional management structure and expertise research team that focuses on enhanced system collaboration, business expansion, advanced technology and medical innovation.

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The range of offerings of Abbott include diagnostics, nutritional products, pharmaceuticals, and medical devices. The medical devices segment represents nearly 27% of the overall revenues of the company.

North America is the most lucrative market for continuous glucose monitoring systems, representing nearly 59% share in 2015. Other key markets are Western Europe, Asia Pacific Excluding Japan (APEJ), and Latin America.

The North America continuous glucose monitoring systems market is expected to reach US$ 239 million by the end of 2015. High per capita income, easy availability of CGM systems, and high awareness levels are the key factors fuelling the adoption of CGM systems in North America. FMI expects the North America continuous glucose monitoring systems market to amplify at a compound annual growth rate (CAGR) of 11.7% between 2015 and 2020. By 2020, the continuous glucose monitoring systems market is expected to reach US$ 397 million.

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The Western Europe continuous glucose monitoring systems market is expected to reach US$ 83 million by the end of 2015, up from US$ 74 million in 2014. FMI expects strong demand for CGM systems from diabetics in Western Europe, owing to which, the market is forecasted to reach US% 151 million by the end of 2020.

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Source: Future Market Insights