PUBLISHER: Market Research Future | PRODUCT CODE: 1563125
PUBLISHER: Market Research Future | PRODUCT CODE: 1563125
Global Continuous Glucose Monitoring Systems Market Research Report Information by Product (Sensors, And Transmitter and Receivers), By Application (Type 2, Type 1, Non-diabetic Patients), By End User (Hospitals & Clinics, Homecare Settings, And Others), by Region (North America, Europe, Asia-Pacific, and Rest of the World) Forecast till 2032
Market Outlook
USD 8.8 billion in continuous glucose monitoring systems market value in 2023 With a compound annual growth rate (CAGR) of 12.34% for the forecast period (2024 - 2032), the market for Continuous Glucose Monitoring Systems is expected to rise from USD 10.0 Billion in 2024 to USD 25.8 billion by 2032.
One very notable factor driving the expansion of the Continuous Glucose Monitoring Systems Market is the rising global diabetes prevalence. With an amazing global increase in affected individuals, diabetes now reaches pandemic proportions. The International Diabetes Federation (IDF) estimates that 537 million people globally will be living with diabetes in 2021 and that figure is predicted to rise to 643 million by 2030. Likewise, the American Diabetes Association estimates that in 2021 diabetes will afflict 38.4 million Americans, or 11.6% of the population. About 2.0 million Americans, including some 304,000 children and teenagers, have type 1 diabetes. Among the several causes of the rising diabetes incidence include aging population, poor eating habits, and inactive lifestyles. The need of efficient diabetes care solutions gets more urgent as the diabetic population keeps rising.
Insights about Market Segments
Based on product, the segmentation of the Continuous Glucose Monitoring Systems Market divides sensors and transmitter and receivers.
Application that comprises type 2 diabetes, type 1 diabetes, and non-diabetic patients forms the basis of the market segmentation.
End users ranging from hospitals and clinics to homecare environments and others form the basis of the market segmentation.
Regional Insights
The report groups the market by Region: North America, Europe, Asia-Pacific, and the Rest of the World. America North-West With a market share of the highest 2023 constant glucose monitoring systems The strong technological infrastructure is the reason behind this; so, it is envisaged that the market would be driven by a well-established regulatory framework.
Thanks to rising diabetes prevalence in Europe and developments in CGM technology, Europe Continuous Glucose Monitoring Systems market holds second-largest market share. Furthermore, the Rest of Europe Continuous Glucose Monitoring Systems market is predicted to fastest-growing market in the European area while France Continuous Glucose Monitoring Systems market was ascribed to hold the highest market share.
From 2023 to 2032, the Asia-Pacific Continuous Glucose Monitoring Systems market is predicted to expand at a noteworthy proportion. This is a result of growing diabetes prevalence in the area and growing consciousness of diabetes control. Furthermore projected to have the biggest market share is China Continuous Glucose Monitoring Systems market; India Market for Continuous Glucose Monitoring Systems is predicted to develop fastest among Asia-Pacific countries.
The Middle East and Africa plus Latin America comprise the Rest of the World. Rising diabetes prevalence along with growing awareness of advanced glucose monitoring systems would probably cause the market for Continuous Glucose Monitoring Systems in the above stated areas to rise.
Leading Players
Key Companies in the Continuous Glucose Monitoring Systems Market are Dexcom, Inc. (US), Menarini Diagnostics SRL (Italy), Sensonics (US), Medtrum Technologies Inc. (China), Nemaura Medical Inc. (US), Ultrahuman Healthcare Pvt LTD (India), Medtronic (Ireland), One Drop (US), Abbott Laboratories, Inc. (US), Sinocare (China).