Rising Demnd For The European Continuous Glucose Monitoring Systems (CGMS) Market

(MENAFN- EIN Presswire) PORTLAND, OREGON, UNITED STATES, June 18, 2024 /EINPresswire / -- The European Continuous Glucose Monitoring Systems (CGMS) market , valued at $58 million in 2015, is projected to soar to $792 million by 2022, reflecting a robust CAGR of 44.9% during the forecast period from 2014 to 2022. As the second largest segment of the global CGMS market, Europe plays a crucial role in the adoption and growth of these technologies. CGMS are essential for continuously tracking glucose levels in diabetic patients, helping to mitigate long-term complications by maintaining stable glucose levels.

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Several factors are driving the significant growth of the European CGMS market from 2016 to 2022. The benefits of CGMS, including minimal invasiveness and real-time glucose monitoring, are key advantages. Moreover, rising healthcare expenditures, the increasing prevalence of diabetes in Europe, and higher disposable incomes are further propelling market expansion. CGMS offer a detailed analysis of glucose levels with greater accuracy than traditional monitoring methods, enhancing their appeal.

Despite these benefits, the market faces challenges such as the high cost of CGMS devices, inadequate reimbursement policies, and stringent regulatory frameworks. These issues can impede market growth both globally and within Europe.

The European CGMS market can be analyzed through four main segments: components, demographics, end users, and countries. By component, the market is divided into sensors, transmitters & receivers, and integrated insulin pumps. Demographically, it is segmented into adult and pediatric populations. End-user categories include diagnostics/clinics, intensive care units (ICUs), and home healthcare. Geographically, the market spans Germany, France, the UK, Spain, Italy, the Netherlands, Norway, Sweden, Denmark, Finland, and other European regions.

The growing diabetic population and the increasing adoption rate of CGM devices are key factors driving market growth. Companies are focusing on new product development to meet specific needs. For example, in May 2016, Senseonics Holdings Inc. received CE mark approval for its Eversense CGM system, which features an implantable glucose sensor, a wearable transmitter, and a mobile app.

Strategic partnerships and agreements also play a significant role in market dynamics. These collaborations between companies, healthcare providers, and academic institutions are expected to positively impact market growth. For instance, Senseonics entered a distributive agreement with Roche in May 2016 to market and sell the Eversense CGM system in Germany, the Netherlands, and Italy.

Key players in the European CGMS market include Abbott Laboratories, DexCom Inc., Echo Therapeutics Inc., Insulet Corporation, Johnson & Johnson, Medtronic plc, Senseonics Holdings Inc., and F. Hoffmann-La Roche Ltd. Other notable companies operating in this market are AgaMatrix, Inc., GlySure, OrSense, and Ypsomed.

Specifically, the Finland CGMS market is forecasted to grow at a CAGR of 43.9% during the forecast period, driven by a significant increase in diabetes cases. According to the IDF Atlas 7th edition, Finland has the highest number of new type 1 diabetes cases, underscoring the need for effective glucose monitoring solutions.

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