As per the report titled ‘Continuous Glucose Monitoring Device Market Share, Size, Trends, Industry Analysis Report By Component Type; By Regions; Segment Forecast, 2020 - 2026’, available with Market Study Report, global continuous glucose monitoring device market is anticipated to register a healthy growth rate during 2020-2026, subsequently accounting USD 12.18 billion by the end of the forecast timeframe.
 

According to the findings of the report, rising prevalence of diabetes due to poor lifestyle choices such as smoking and lack of physical activity, along with increased infection risk among the expanding geriatric population are driving the growth of global continuous glucose monitoring device market.
 

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Furthermore, the Covid-19 outbreak has proved to be a major growth propellent for the industry in recent times. Although the widespread of coronavirus has urged healthcare providers to expand their production lines and shorten their manufacturing timeline to produce Covid-19 test kits, companies have assured that the availability of other products such as continuous glucose monitoring (CGM) devices. More importantly, higher risk of coronavirus infection among diabetic patients, growing importance of preventive healthcare, ease of use, and easy product availability will continue to expand global continuous glucose monitoring device market size in the coming years.
 

On the contrary, lack of proper regulatory framework in developing nations such as China and India, and high costs associated with point of care diagnostics procedures such as CGM especially in undeveloped nations are the major challenges for the industry. However, introduction of cheap and cost-effective diagnostics solutions will present new growth opportunities for global continuous glucose monitoring device industry over the forecast duration.
 

Considering the regional outlook, North America lead the global continuous glucose monitoring device market growth in 2019 and will continue to experience strong gains over the forecast timeframe. High concentration of leading industry players, rising cognizance regarding use of CCM devices, and growing inclination among people towards preventive healthcare solutions are contributing to the regional industry expansion.
 

Key players influencing global continuous glucose monitoring device market trends are Senseonics Holdings, Inc., Bayer AG, Insulet Corp., Ypsomed Holding AG, Novo Nordisk A/S, LifeScan, Inc., Medtronic plc, Abbott Laboratories, Dexcom, Inc., and F. Hoffmann La Roche Ltd.