PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606431
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606431
Continuous Glucose Monitoring Market size was valued at USD 11,329.32 Million in 2023, expanding at a CAGR of 12.79% from 2024 to 2032.
The Continuous Glucose Monitoring (CGM) market refers to the sector that develops and supplies devices designed to track glucose levels in real-time throughout the day and night. These devices are primarily used by individuals with diabetes to manage their blood sugar levels more effectively, reducing the need for frequent fingerstick testing. CGMs work by using a sensor placed under the skin to measure glucose in the interstitial fluid, transmitting data to a receiver or smartphone. The market has seen significant growth due to rising diabetes prevalence, increasing awareness about diabetes management, and technological advancements that have made CGMs more accurate, affordable, and user-friendly. CGMs also offer features like alerts for hypo- or hyperglycemia and integration with insulin pumps, providing enhanced control. As healthcare systems emphasize preventative care, the demand for CGMs is expected to continue rising, creating opportunities for innovation and expansion in the market.
Continuous Glucose Monitoring Market- Market Dynamics
Non-invasive glucose monitoring technologies offer more comfortable, convenient alternatives.
Non-invasive glucose monitoring technologies are gaining momentum due to their potential to offer more comfortable, convenient alternatives to traditional fingerstick testing. Key drivers for the Continuous Glucose Monitoring Market include advancements in biosensor technology, which are enabling more accurate and reliable measurements without the need for skin penetration. Non-invasive methods, such as monitoring through sweat, tears, or infrared light, reduce discomfort and the risk of infection, which appeals to patients who require frequent monitoring. Furthermore, the growing preference for painless, user-friendly devices among diabetic patients and healthcare providers is fueling adoption.
Non-invasive technologies also promise to broaden the appeal of glucose monitoring to a wider range of users, including those at risk of developing diabetes. The convenience of these systems can improve patient compliance and enhance overall disease management. According to the National Institutes of Health (NIH), an estimated 1 in 3 American adults is at risk of developing diabetes, further driving the demand for more accessible and less invasive monitoring solutions. With increasing government and academic support for non-invasive technologies, the market is poised for growth as researchers explore more innovative solutions for diabetes management.
Continuous Glucose Monitoring Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.79% over the forecast period (2024-2032)
Based on Component Type segmentation, Sensors was the leading segment in 2023
Based on Modality segmentation, Invasive was the leading segment in 2023
Based on Product Type segmentation, Continuous Glucose Monitoring Systems (CGMS) was predicted to show maximum market share in the year 2023
Based on Patient Type segmentation, Type 1 diabetes was the leading segment in 2023
Based on Distribution Channel segmentation, Retail Sales was the leading segment in 2023
based on Region, North America was the leading revenue generator in 2023
The Global Continuous Glucose Monitoring Market is segmented based on Component Type, Modality, Product Type, Patient Type, Distribution Channel, and Region.
The market is divided into two categories based on Product Type: Continuous Glucose Monitoring Systems (CGMS) and Self-Monitoring Blood Glucose Systems (SMBG). In the Continuous Glucose Monitoring Systems (CGMS) market, the dominant segment is the wearable CGMS, particularly the sensor-based devices. These systems provide real-time, continuous glucose data, offering significant benefits for patients with diabetes, especially those with Type 1 diabetes. The growing demand for more accurate, user-friendly, and minimally invasive solutions has driven the adoption of wearable CGMS, which can be integrated with smartphones or insulin pumps for automated data tracking and management. This technology not only enhances patient convenience but also improves glycemic control, making it a key driver in the market's growth.
The market is divided into two categories based on Modality: Invasive CGM and Non-Invasive CGM. Invasive Continuous Glucose Monitoring (CGM) systems are the most dominant segment in the market. These systems involve a subcutaneous sensor that continuously monitors glucose levels in real time, providing accurate and reliable data. They offer key features such as alerts for hypo- or hyperglycemia, and integration with insulin pumps and smartphones. The dominance of invasive CGMs is due to their proven accuracy, extensive regulatory approvals, and strong market presence from leading manufacturers. Despite the ongoing development of non-invasive systems, invasive CGMs remain the preferred choice for managing diabetes effectively.
Continuous Glucose Monitoring Market- Geographical Insights
The North American landscape for the Continuous Glucose Monitoring (CGM) market is rapidly expanding, driven by rising incidences of diabetes and increasing awareness about the importance of glucose management. The U.S. holds the largest share, with both Type 1 and Type 2 diabetes patients increasingly adopting CGM systems due to their ability to provide real-time data, improve glycemic control, and reduce complications. Advancements in technology, such as smaller, more affordable, and user-friendly devices, are also fueling market growth. The integration of CGM devices with mobile apps and other digital health solutions is further enhancing their appeal. Moreover, the growing prevalence of diabetes-related complications, coupled with the push for preventive healthcare, is creating a strong demand for CGM systems. Regulatory approvals from bodies like the FDA and favorable reimbursement policies are further accelerating adoption. As healthcare systems prioritize chronic disease management and personalized medicine, the market is expected to see continued growth in both the U.S. and Canada.
The competitive landscape of the Continuous Glucose Monitoring (CGM) market is characterized by a mix of established players and emerging companies focused on innovative diabetes management solutions. Leading companies like Abbott, Dexcom, and Medtronic dominate the market, with their advanced CGM systems offering real-time glucose monitoring, integration with insulin pumps, and mobile app connectivity. Abbott's FreeStyle Libre and Dexcom's G6/G7 systems are among the most widely used. Medtronic also maintains a strong position with its Guardian Connect system. Newer entrants like Senseonics, with its implantable Eversense CGM, bring unique solutions to the market, offering longer sensor life. The market is highly competitive with companies competing on factors like sensor accuracy, ease of use, pricing, and patient data management capabilities. Partnerships between CGM manufacturers and pharmaceutical or tech companies, such as insulin providers or mobile health apps, further intensify competition, driving innovation and growth in the market. Furthermore, regulatory approval and reimbursement policies are crucial in shaping the competitive dynamics.
In February 2024, Dexcom, Inc. introduces Dexcom ONE+, the latest Continuous Glucose Monitoring (CGM), to strengthen strong, new diabetes care technologies for patients in Belgium, Spain, and Poland.
In January 2024, Abbott and Tandem Diabetes Care, Inc., a player in insulin delivery and diabetes technologies, unveiled the t: slim X2 insulin pump with Control-IQ technology, making it the first automated insulin administration system in the United States to combine with the FreeStyle Libre 2 Plus sensor. This enabled the organization to strengthen its product portfolio.
In January 2024, Medtronic got CE approval for the MiniMed 780G system with Simplera Sync, a disposable, all-in-one Continuous Glucose Monitor (CGM) that does not require fingersticks or overtape, to strengthen its product line. to bring