The global continuous glucose monitoring market size was USD 7500 Million in 2022 and is expected to register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data.
Diabetes prevalence is increasing, particularly type 2 diabetes, driving up demand for continuous glucose monitoring devices. According to the International Diabetes Federation, there were 463 million diabetics in the globe in 2019 and 700 million by 2045. The market for integrated continuous glucose monitoring systems is predicted to grow due to the growing need for real-time glucose monitoring and associated technical advancements.
One of the primary factors driving continuous glucose monitoring market revenue development is the rising prevalence of diabetes worldwide. Diabetes is becoming increasingly common, which is raising the demand for continuous glucose monitoring devices, which aid in more precise and continuous monitoring of blood glucose levels. Furthermore, the market is expanding as more individuals become aware of the benefits of continuous glucose monitoring devices, such as their ability to avoid hypoglycaemia, lessen their risk of complications, and improve their quality of life.
The continuous glucose monitoring market's revenue growth is significantly influenced by advances in continuous glucose monitoring technology. The creation of advanced sensors, algorithms, and mobile applications has led to the development of more accurate and reliable continuous glucose monitoring systems. Due to its integration with insulin pumps and other diabetes care systems, Continuous Glucose Monitoring (CGM) devices are becoming more useful and practical for patients. The accessibility of data-driven insights and better patient outcomes have also boosted healthcare professionals' use of CGM devices.
Additionally, the increasing use of telemedicine and remote patient monitoring services has increased the need for continuous glucose monitoring devices. Due to their ease of use in obtaining healthcare services and capacity for remote monitoring, continuous glucose monitoring devices are more widely utilised and have a rising market. The continuous glucose monitoring sector has expanded as a consequence of favourable reimbursement policies and initiatives by both public and private organisations, in addition to the aforementioned factors. The Centers for Medicare & Medicaid Services (CMS) in the United States, for instance, have increased its payment rules for CGM devices, boosting patient access to and cost of these devices. The National Health Service (NHS) in the UK has begun similar initiatives to encourage diabetic people to utilise CGM devices.
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Some of the prominent players profiled in the global continuous glucose monitoring market include Abbott Laboratories, Dexcom Inc., Medtronic plc, Senseonics Holdings Inc., Insulet Corporation, Ypsomed AG, GlySens Inc., Nemaura Medical Inc., Echo Therapeutics, and Roche Diagnostics
Some Key Highlights from the Report
- It is anticipated that the standalone segment would contribute the most to revenue throughout the projected period. Because to their mobility, usability, and simplicity, these systems are widely preferred by diabetic patients. Because standalone CGM devices may be worn for many days, they are suitable for 24-hour continuous blood sugar monitoring, including while you are sleeping or working out. Moreover, these systems do not require routine calibration like integrated CGM systems do. Standalone CGM systems are a preferable substitute for patients without insurance or whose insurance does not cover the cost of integrated CGM systems since they are more inexpensive and less expensive than integrated CGM systems.
- Throughout the forecast period, the segment for home care settings had the biggest revenue share. The rise in self-monitoring of blood glucose levels, increased awareness of diabetes management, and the viability of using CGM systems at home are all factors driving the growth of this market. The availability of cutting edge CGM systems, including as wearable and cordless devices, has further spurred the growth of the home care settings market. The trend towards remote patient monitoring and telehealth services brought on by the COVID-19 pandemic has increased the need for CGM devices in home care settings.
- The market in Asia Pacific is anticipated to generate the biggest revenue share throughout the projected period. The need for CGM devices is increasing as diabetes incidence increases in this area, especially in nations like China and India. The prevalence of diabetes is rising, which is driving up demand for CGM devices. This is due to the rising adoption of sedentary lifestyles, bad diets, and a lack of physical activity. Also, the Asia Pacific region's growing e-commerce platform penetration is propelling the continuous glucose monitoring market's revenue growth. CGM devices are becoming more widely used as a result of the ease with which patients can now access and buy them thanks to online platforms.
- Abbott Laboratories confirmed on May 13, 2021, that the FreeStyle Libre 2 iOS app, which provides real-time glucose monitoring on iPhones and iPads, had been given U.S. FDA certification. Users of the app may share their glucose data with carers and healthcare experts as well as create alarms for low and high glucose levels.
- Dexcom Inc. announced on April 16th, 2021, that it has inked a partnership agreement with Insulet Corporation to integrate its CGM technology into Insulet's Omnipod Horizon system. Users will be able to automatically modify their insulin dosage based on real-time glucose data with this connection.
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For the purpose of this report, Reports and Data has segmented the global continuous glucose monitoring market on the basis of Product Type Outlook, End-use Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Million; 2022 - 2032)
- Standalone
- Integrated
End-use Outlook (Revenue, USD Million; 2022 - 2032)
- Hospitals
- Clinics
- Home Care Settings
- Academic & Research Institutes
- Other
Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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