Written by Global Continuous Glucose Monitoring Market Analysis
The Global Continuous Glucose Monitoring (CGM) Market is
projected to reach approximately US$ 13.06 Billion by 2032,
with a compound annual growth rate (CAGR) of 8.40% from 2024
to 2032. The market was valued at US$ 6.32 Billion in 2023.
Overview of Continuous Glucose Monitoring (CGM)
Continuous glucose
monitoring is an essential tool for individuals with diabetes, providing
real-time insights into blood sugar levels. This technology helps patients
manage their insulin needs effectively, reducing the risks associated with
hyperglycemia and hypoglycemia.
Key Market Trends
1.
Growth
in Prediabetes Prevalence
·
Prediabetes is
characterized by elevated blood sugar levels that may not yet indicate type 2
diabetes. The incidence of impaired fasting glucose (IFG) is projected to
increase from 298 million in 2021 to 414
million by 2045, driving demand for CGM devices.
2.
Increasing
Older Population
·
The aging population is
more susceptible to diabetes. By 2030, an estimated 195.2
million individuals aged 65 or older will have
diabetes, further propelling the need for continuous monitoring solutions.
3.
Technological
Innovations
·
Advancements in CGM
technology enhance accuracy and user-friendliness. For example, DexCom’s Dexcom
ONE+ device, launched in early 2024, features a waterproof
sensor and real-time monitoring capabilities.
United States Market Insights
The United
States is expected to lead the global CGM market due to a high
prevalence of diabetes. In 2021, approximately 38.4 million Americans
had diabetes, with 97.6 million identified as pre-diabetic.
Initiatives like the Medicare Diabetes Prevention Program are
also contributing to market growth.
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Notable Company Developments
- Dexcom Inc.
- In March 2024, the
FDA approved the Dexcom Stelo Glucose Biosensor System for
over-the-counter sale, marking a significant advancement in CGM
accessibility. - Medtronic
- The MiniMed™ 780G
system was updated to include a new disposable CGM, enhancing
user experience with a simplified insertion process. - I-SENS
- Launched CareSens Air,
a compact CGM device approved in South Korea, capable of continuous
monitoring for 15 days.
Market Breakdown
- By Component:
1.
Sensors
2.
Transmitters
3.
Receivers
- By End-User:
1.
Hospitals
2.
Homecare Settings
3.
Others
- By Region:
- North America (U.S., Canada)
- Europe (France, Germany,
Italy, Spain, UK, Belgium, Netherlands, Turkey) - Asia Pacific (China, Japan,
India, South Korea, Thailand, Malaysia, Indonesia, Australia, New
Zealand) - Latin America (Brazil, Mexico,
Argentina) - Middle East & Africa
(Saudi Arabia, UAE, South Africa)
Companies Covered
1.
Dexcom Inc.
2.
Ypsomed AG
3.
Abbott Laboratories
4.
Senseonics Holdings,
Inc.
5.
Nemaura Medical, Inc.
6.
Medtronic, Inc.
7.
Tandem Diabetes Care
8.
Nova Biomedical
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