Europe Continuous Glucose
Monitoring Systems Market - Opportunities and Forecasts, 2014 - 2021, projects
that the European Continuous Glucose Monitoring Systems (CGMS) market would
grow at a CAGR of 38.0% from 2015 to 2021. Sensors segment is anticipated to
generate the highest revenue in the European CGMS market during the forecast
period.
The European CGMS market is
expected to witness dynamic growth, owing to increasing incidence rates of
diabetes, growing per capita healthcare expenditure, and rising disposable
income of individuals. In addition, CGMS offers various benefits over
conventional glucose monitors such as higher precision, greater sensitivity,
and periodic monitoring. CGMS technology is applicable in “artificial/bionic
pancreas”; hence, several CGMS and insulin pump manufacturers focus on the
development of novel and advanced CGMS. CGMS can be used across all age groups
and various healthcare settings. However, unfavorable reimbursement policies
for CGMS is expected to hamper the market growth.
Glucose sensors is expected to
dominate the European CGMS component market during the forecast period due to
CE approval on CGMS sensors and supportive reimbursement policies. Moreover,
technological advancements in this sector have led to the development of
sensor-augmented pumps that can be linked with CGMS devices for real-time
monitoring using various wireless monitoring systems such as smartphones.
Germany is the leading
revenue-generating country, owing to favorable guidelines about pricing and
fixed reimbursement budget allocation for CGMs devices. In addition, the
European CGMS market is estimated to exhibit significant growth in Norway,
Sweden, and Denmark due to advanced diabetes care facilities and robust
clinical guidelines and standards for diabetes management.
Key findings of the study:
U.K. is projected to grow at the
highest CAGR of 40.9% during the forecast period.
Germany generated one-fourth of
the total market revenue in 2015 and is projected to be the maximum revenue generating
country till 2021.
Sensors segment accounted for
about two third of the market revenue in 2015 and is projected to exhibit
prominent growth during the forecast period.
U.K., Germany and France
contributed over half of the market share in 2015.
Renowned companies, such as
Senseonics and Rubin Medical, have adopted the collaboration strategy to
commercialize their CGMS products in Denmark and Sweden. 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. Medtronic Inc., Dexcom, Inc., Abbott Diabetic care, Senseonics
Incorporated, Insulet Corporation, Echo therapeutics, Glysens Inc. and Animas
Corporation are some of the prominent players in the European CGMS market.
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