Continuous Glucose Monitoring Systems/Devices Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Continuous Glucose Monitoring (CGM) Systems/Devices Market Size gathered USD 5.2 Billion in 2021 and is set to garner a market size of USD 12.9 Billion by 2030 growing at a CAGR of 10.6% from 2022 to 2030.
Continuous Glucose Monitoring (CGM) systems are medical devices that continuously monitor glucose levels in diabetics. They are made up of a small sensor that is inserted beneath the skin, a transmitter that transmits data to a display device, and a mobile app or dedicated device that provides real-time glucose readings and alerts.
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Continuous Glucose Monitoring (CGM) Systems/Devices Market Report Statistics
- Global continuous glucose monitoring systems/devices market revenue is estimated to reach USD 12.9 Billion by 2030 with a CAGR of 10.6% from 2022 to 2030
- North America continuous glucose monitoring (CGM) systems/devices market value gathered more than USD 1.8 billion in 2021
- Asia-Pacific continuous glucose monitoring (CGM) systems/devices market growth will record a CAGR of more than 11% from 2022 to 2030
- Among components, the sensors sub-segment collected around 40% share in 2021
- Based on end-use, the homecare sub-segment achieved US$ 2.3 billion in revenue in 2021
- The rapid adoption of remote monitoring and telemedicine is a popular continuous glucose monitoring (CGM) systems/devices market trend that drives the industry demand
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Global Continuous Glucose Monitoring (CGM) Systems/Devices Market Dynamics
Market Drivers
- Rising prevalence of diabetes
- Growing demand for improved glucose monitoring solutions
- Government initiatives and reimbursement policies
Market Restraints
- High cost of these devices
- Lack of reimbursement
- Accuracy concerns
Market Opportunities
- Increasing adoption of artificial intelligence and machine learning
- Miniaturization of devices
Continuous Glucose Monitoring (CGM) Systems/Devices Market Report Coverage
| Market | Continuous Glucose Monitoring (CGM) Systems/Devices Market |
| Continuous Glucose Monitoring (CGM) Systems/Devices Market Size 2021 | USD 5.2 Billion |
| Continuous Glucose Monitoring (CGM) Systems/Devices Market Forecast 2030 | USD 12.9 Billion |
| Continuous Glucose Monitoring (CGM) Systems/Devices Market CAGR During 2022 - 2030 | 10.6% |
| Continuous Glucose Monitoring (CGM) Systems/Devices Market Analysis Period | 2018 - 2030 |
| Continuous Glucose Monitoring (CGM) Systems/Devices Market Base Year | 2021 |
| Continuous Glucose Monitoring (CGM) Systems/Devices Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Component, By End-Use, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | GlySens, Pfizer Inc., Ypsomed, Baxter International Inc., Novo Nordisk, Abbott Laboratories, Animas Corporation, and Medtronic, Inc. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Continuous Glucose Monitoring CGM Systems/Devices Market Growth Factors
Developing instances of diabetes, combined with expanding adoption of continuous glucose monitoring (CGM) gadgets, has been driving the market. CGM frameworks are insignificantly obtrusive and offer a simple and compelling approach to managing diabetes. They can likewise recognize radical changes in blood glucose levels, in this way avoiding hypoglycaemic conditions.
These gadgets encourage examination of blood glucose levels at various times interims with the assistance of a sensor. Individual readings nourished into diabetes the board programming through a remote system enable patients to comprehend the disease better, subsequently helping them to oversee it in a progressively powerful manner.
The market is assessed to enlist a CAGR of 10.6% over the forecast period. Developing instances of diabetes and the presentation of novel and propelled diabetes care gadgets are the central point driving the market development. Consistent glucose-checking gadgets or glucose monitoring devices give an effective technique to gauge body glucose levels progressively in real-time. The information recorded by these gadgets is transmitted through a remote system to recipients; this helps monitor glucose levels over an assigned period.
These gadgets likewise help manage diabetes while decreasing individual insulin measurements. Incorporated programming inside these gadgets furnishes clients with bits of knowledge about food consumption, physical activity, medication, and illnesses. Consequently, an expanding number of diabetic patients are utilizing these gadgets to oversee and treat diabetes, which, thusly, is quickening market development. With the coming of computerized therapeutics, a rising number of CGM gadgets are being joined with applications and programming to assist patients with diabetes mellitus. Ascend in the quantity of diabetes mellitus has been contributing toward market development.
Continuous Glucose Monitoring (CGM) Systems/Devices Market Segmentation
The worldwide Continuous Glucose Monitoring (CGM) Systems/Devices Market is categorized based on component, end-use, and geography.
Continuous Glucose Monitoring (CGM) Systems/Devices Market By Component
- Transmitters
- Sensors
- Receivers
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As per the continuous glucose monitoring (CGM) systems/devices industry analysis, the sensors sub-segment held the majority of the market share in 2021. Continuous Glucose Monitoring (CGM) sensors are small, wearable devices that continuously monitor glucose levels in a diabetic patient's interstitial fluid. They are an essential component of continuous glucose monitoring (CGM) systems, that provide real-time glucose readings, alarms for low and high glucose levels, and long-term trends. CGM sensors are typically made up of a small sensor that is inserted just beneath the skin and is linked to a transmitter that sends glucose readings to a display device, such as a wearable device or a handheld device. The sensors function by continuously measuring the glucose levels in the interstitial fluid, which represents the glucose levels in the bloodstream, and sending the results to the display device.
Continuous Glucose Monitoring (CGM) Systems/Devices Market By End-use
- Hospitals
- Home Care
- Others
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According to the market forecast for continuous glucose monitoring (CGM) systems/devices, the homecare settings sub-segment is expected to hold the largest market share from 2022 to 2030. Continuous Glucose Monitoring (CGM) systems are progressively being used to improve diabetes management in homecare settings. CGMs can be used in homecare settings to continuously monitor glucose levels, allowing patients to better control their glucose levels, lower the risk of complications caused by uncontrolled diabetes, and enhance their quality of life. Overall, the use of CGM systems in homecare settings is anticipated to increase in the coming years, as the market grows due to increased demand for improved glucose monitoring solutions, technological advancements, and favorable reimbursement policies.
Continuous Glucose Monitoring Systems/Devices Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Continuous Glucose Monitoring (CGM) Systems/Devices Market Regional Analysis
The North American district is relied upon to lead the worldwide market. Expanding instances of diabetes and endeavors taken by the national government to deal with the disease at a bigger dimension are required to drive the area's development. Rising adoption of exchange and novel gadgets have been seen in the area, accelerating market development. Preventive measures taken by the government to enable diabetic people to comprehend and deal with the illness before genuine results happen are the key driver for the regional market. The locale is relied upon to prosper attributable to technological advancements and considerable research and development in diabetes care.
Continuous Glucose Monitoring (CGM) Systems/Devices Market Players
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major players associated with the Continuous Glucose Monitoring (CGM) Systems/Devices are Abbott Laboratories, Animas Corporation, Baxter International Inc., GlySens, Medtronic, Inc., Novo Nordisk, Pfizer Inc., and Ypsomed. Organizations are additionally progressively growing new products, which has additionally supported the development of their current portfolio with progressive technologies. For example, in February 2016 Animas Corporation declared the dispatch of Animas Academy in Ireland and the U.K., which is an instructive program for people managing diabetes with an insulin pump and strengthening innovation related to it.
Frequently Asked Questions
What was the market size of the global continuous glucose monitoring (CGM) systems/devices in 2021?
The market size of continuous glucose monitoring (CGM) systems/devices was USD 5.2 Billion in 2021.
What is the CAGR of the global continuous glucose monitoring (CGM) systems/devices market during forecast period of 2022 to 2030?
The CAGR of continuous glucose monitoring (CGM) systems/devices market is 10.6% during the analysis period of 2022 to 2030.
Which are the key players operating in the market?
The key players operating in the global market are Abbott Laboratories, Animas Corporation, Baxter International Inc., GlySens, Medtronic, Inc., Novo Nordisk, Pfizer Inc., and Ypsomed.
Which region held the dominating position in the global continuous glucose monitoring (CGM) systems/devices market?
North America held the dominating position in continuous glucose monitoring (CGM) systems/devices market during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for continuous glucose monitoring (CGM) systems/devices market during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global continuous glucose monitoring (CGM) systems/devices market?
The current trends and dynamics in the continuous glucose monitoring (CGM) systems/devices industry include rising prevalence of diabetes, growing demand for improved glucose monitoring solutions, and government initiatives and reimbursement policies.
Which component held the maximum share in 2021?
The sensors component held the maximum share of the continuous glucose monitoring (CGM) systems/devices market.
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