DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Europe Continuous Glucose Monitoring Systems Market by Component, Demographics and Adult Population and End User - Global Opportunity Analysis and Industry Forecast, 2014-2022" report to their offering.
Europe Continuous Glucose Monitoring Systems Market Report, forecasts that the market was valued at $58 million in 2015, and is expected to reach $792 million by 2022, supported by a CAGR of 44.9% during the forecast period 2016 - 2022. The sensors segment is anticipated to generate the highest revenue in this market during the forecast period.
The European CGMS market is expected to witness dynamic growth, owing to a rise in per capita healthcare expenditure, increase in disposable income of individuals, and growth in prevalence rates of diabetes. In addition, CGMS has various advantages over conventional glucose monitors such as greater sensitivity, higher precision, and periodic monitoring. CGMS can be used across all age groups and various healthcare settings. Moreover, the technology is applicable in artificial/bionic pancreas; hence, several CGMS and insulin pump manufacturers focus on the development of novel and advanced CGMS. However, unfavorable reimbursement policies for CGMS hinder the market growth.
Sensors market contributed for the highest share of revenue in the CGMS market. In addition, the market is expected to witness the highest growth during the analysis period, as CGM sensors are changed frequently as compared to transmitters & receivers. As the percentage of adult population is high, this segment is estimated to generate the largest market revenue. However, owing to the growth in demand for CGM devices for children, the children population segment may grow at a higher CAGR.
Key findings of Europe Continuous Glucose Monitoring Systems Market:
- UK is projected to grow at the highest CAGR during the forecast period.
- Germany generated about one-fifth of the total market revenue in 2015, and is projected to be the maximum revenue-generating country by 2022.
- Sensors segment accounted for more than three-fifths of the market revenue in 2015 and is projected to exhibit prominent growth during the forecast period.
- Home healthcare and diagnostic/clinics contributed over half of the market share in 2015.
- Region wise, Germany leads the market, in terms of revenue, owing to favorable guidelines about pricing and fixed reimbursement budget allocation for CGM devices. In addition, the market is estimated to exhibit significant growth in Norway, Sweden, and Denmark owing to the availability of advanced diabetes care facilities, and robust clinical guidelines and standards for diabetes management.
- Renowned companies, such as Senseonics and Rubin Medical, have adopted collaboration as their key strategy to commercialize their CGMS products in Denmark and Sweden. An increasing number of diabetic patients, well-structured diabetes management regime, and proactive initiatives taken by the government have encouraged several CGMS companies to invest in Europe.
Key players profiled in this report include
- Abbott Laboratories
- Dexcom, Inc.
- Echo Therapeutics, Inc.
- Johnson & Johnson
- Medtronic plc
- Senseonics Holdings, Inc.
- F. Hoffmann-La Roche Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/s9b8xh/europe_continuous