Diabetes is a major healthcare challenge across the world today as its incidence grows considerably over the world owing to poor lifestyle choices such as sedentary living, poor and unbalanced diets and excessive stress. One of the most notable factors driving people to such choices is disintegration of joint family set-ups and emergence of dual income families in nuclear set ups. As both partners come home after a long day of work, willingness to prepare food with fresh ingredients is low. As a result eating out is normalized and fast food joints are seeing growth. Hectic work lives are also often marked with high stress situations and that is a notable contributing factor.
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This is leading to higher demand in global continuous glucose monitoring market over the next few years. As per TMRR, compound annual growth rate recorded by the market will be steady and robust, taking the worth of the market notably higher. New opportunities are being created in the market owing to such projections.
Additionally, it is worth noting here that due to the presence of COVID-19 across the globe, demand for equipment and support from diabetes patients is growing steadily and this is driving the global continuous monitoring market on to an upward growth curve.
Furthermore, as the focus of global glucose monitoring market players gets sharper over technology and innovation, demand in the market would only take a higher trajectory. Research and development in the field is also paving way for growth in the future.
The global continuous glucose monitoring market’s vendor landscape is a consolidated one and top plaers marking it are Abbott Laboratories (U.S.), ARKRAY, Inc. (Japan), Bayer AG (Germany), Dexcom, Inc. (U.S.), F. (U.S.), and Terumo Medical Corporation (U.S.), among few others. These are deploying host of organic and inorganic strategies to drive growth in the market.
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