iData Research, a global consulting and market research firm, has released exclusive research in the U.S. continuous glucose monitor (CGM) market, addressing key insights on both the personal and professional markets. Overall, the market is expected to experience growth over the forecast period and into 2025 with the professional CGM market experiencing the greatest growth. iData forecasts that demographic factors, increasing rates of obesity, pump-CGM integration, and recent innovations will encourage significant growth.
According to iData’s suite of U.S. Reports for Diabetes Monitoring, the market for CGM devices was estimated at just over $1.2 billion in 2020. In terms of specific segments, the professional CGM market was estimated at around $50 million with the personal CGM market around $1 billion. Due to several factors, the market is projected to continue its growth and reach almost $2 billion by 2025. This report includes unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more.
iData’s analysis covers two market segments, personal and professional CGM. The personal CGM market accounted for the vast majority of the total market value. Personal CGM is used by individuals on a day-to-day basis and has experienced significant growth in recent years, due to an expanding installed base and advancements in device technology. Growth is expected to continue over the forecast period and will be driven by favorable reimbursement, technological innovation, and an increased uptake of personal CGM among type 1 diabetics and insulin-dependent type 2 diabetics.
“The CGM approach is increasing in popularity, due to its higher level of data accuracy and validity”, says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, “This allows patients to not only have better knowledge regarding what their glucose levels are but in which direction they are moving.”
Among the many competitors within these markets, Dexcom, Medtronic, and Abbott are the leaders followed by Senseonics. These four companies are fighting for an even larger share of the market but are trailing the leader, Dexcom, by a substantial margin. Dexcom’s success within the CGM market can be attributed to its G6® product line, as well as the G4®, and G5® legacy products. Dexcom is working on releasing the G7™, a fully disposable CGM product that will combine both sensor and transmitter components. Dexcom maintained strong growth in the U.S. in 2020, despite COVID-19.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to download a Free Research Summary of the U.S. Market Report for Diabetes Monitoring:
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More insights like this can be found in the latest reports by iData. Please email us at [email protected] or register online for a brochure and synopsis.