Global Continuous Glucose Monitoring Devices Market Size, Share, Growth Analysis, By Component(Transmitters, Sensors), By End-Use(Hospitals, Home Care) - Industry Forecast 2024-2031

The Global Continuous Glucose Monitoring Devices Market size was valued at USD 8 billion in 2022 and is poised to grow from USD 8.40 billion in 2023 to USD 12.41 billion by 2031, growing at a CAGR of 5% in the forecast period (2024- 2031).

The increasing number of people with diabetes and the growing use of continuous glucose monitoring (CGM) devices are pushing the market forward. These devices are known for being less invasive and making it easier to manage diabetes. They can also detect big changes in blood sugar levels and prevent dangerous drops. With a sensor, CGM devices check blood sugar levels at different times. The data they collect is sent wirelessly to software that helps people with diabetes understand their condition better and manage it more effectively. Common things like smoking, being overweight, not being active, high blood pressure, and high cholesterol levels can make diabetes worse. According to the International Diabetes Federation, about 536.6 million people had diabetes in 2022, and this number is expected to go up to 642.8 million by 2030 and 783.7 million by 2045. CGM devices also give information about what people eat, how they take medicine, how active they are, and other health conditions. Digital tools have made it easier for companies that make CGM devices to connect with people with diabetes. There are lots of apps on the market that use data from CGM devices to see what might happen in the future and suggest changes to lifestyle. Companies like Abbott, Dexcom, and Medtronic have made a lot more money from their diabetes products because more people wanted them during the COVID-19 pandemic. Devices that check blood sugar levels have been shown to help control sugar levels and might help people with diabetes manage their condition better. Many governments around the world started paying for these devices during the COVID-19 pandemic, so more people with diabetes and healthcare providers started using them.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Continuous Glucose Monitoring Devices Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Continuous Glucose Monitoring Devices Market Segmental Analysis

Global Continuous Glucose Monitoring Devices Market is segmented on the basis of Component, End - User, Region. By Component, the market is segmented Transmitters, Sensors, Receivers. By End - user, the market is segmented into Hospitals, Home Care, Others. By Region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.

Drivers of the Global Continuous Glucose Monitoring Devices Market

The growing number of people with diabetes worldwide is a big reason why there's a need for better ways to check and manage it, like continuous glucose monitoring devices.

Restraints in the Global Continuous Glucose Monitoring Devices Market

Continuous glucose monitoring devices are now being combined with digital health platforms, which makes it easy for users to keep track of and manage their data together with other health information.

Market Trends of the Global Continuous Glucose Monitoring Devices Market

More and more, Continuous Glucose Monitoring Devices systems are using Industry 4.0 technologies like sensors, internet connection, and predictive maintenance. This helps to watch them in real-time and make them work better.