Flash Glucose Monitoring Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030
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The Global Flash Glucose Monitoring Market Size is valued at USD 12,905 million in 2021 and is estimated to achieve a market size of USD 24,765 million by 2030; growing at a CAGR of 7.6%.
Flash glucose monitoring (FGM) is a sensor technology that is majorly used in monitoring the glucose level trend of diabetes. This End-User enables to test the of blood sugar levels without pricking the finger. This technology is currently available in the Freestyle Libre system which has two parts - A small white disc and a reader. Rapid development in technologies has improved the efficiency of the diagnosis and monitoring of diseases. Flash glucose monitoring is a very efficient tool for maintaining blood glucose levels daily. Improving glucose monitoring devices is the primary factor boosting the flash glucose monitoring market revenue. Rising research & development and advancement in healthcare technologies are the two important flash glucose monitoring devices market trends that are fueling the industry demand.
Global Flash Glucose Monitoring Market Dynamics:
Market Drivers:
- Growing cases of diabetes patients globally
- Increasing awareness regarding the glucose monitoring devices
- Increasing demand for point of care testing
- Growing healthcare expenditure in emerging countries
Market Restraints:
- Overburdened information from FGM sensor
- FGM sensors causes skin irritation
Market Opportunities:
- Technological advancement in healthcare sector
- Rising patients adoption towards non-invasive procedures
Flash Glucose Monitoring (FGM) Market Report Coverage:
| Market | Flash Glucose Monitoring (FGM) Market |
| Flash Glucose Monitoring (FGM) Market Size 2021 | USD 12,905 Million |
| Flash Glucose Monitoring (FGM) Market Forecast 2030 | USD 24,765 Million |
| Flash Glucose Monitoring (FGM) Market CAGR During 2022 - 2030 | 7.6% |
| Flash Glucose Monitoring (FGM) Market Analysis Period | 2018 - 2030 |
| Flash Glucose Monitoring (FGM) Market Base Year | 2021 |
| Flash Glucose Monitoring (FGM) Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Application, By End-User, And By Region |
| Flash Glucose Monitoring (FGM) Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Abbott laboratories, OMRON Healthcare India Pvt Ltd, Roche, Dexcom, Glysens, Johnson & Johnson Services, Medtronic, Omnipod Senseonics, and Ypsomed. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The major driving factor for the flash glucose monitoring market includes an increasing diabetic population, a rising aging population, an increase in the prevalence of various diseases such as hepatitis, and human immunodeficiency virus (HIV) infection, and advancement in the End-User. According to the World Health Organization (WHO), in 2014, over 422 million people across the globe were suffering from diabetes. Increasing demand for point of care testing is one of the factors supporting the growth of the market. According to the research, it was observed that obese and smoking people are more prone to diabetes. An increasing number of obese population and changing lifestyles of the people has fueled the growth of the market. Additionally, technical advances in equipment are one of the major drivers driving the market to grow. However, lack of awareness and high cost of the devices coupled with a reluctance to adopt recent technology are restraining the growth of the market.
Flash Glucose Monitoring Market Segmentation
The market can be bifurcated on the basis of application, end-user, and region.
Flash Glucose Monitoring Market by Application
- Type 1-Diabetes
- Type 2-Diabetes
According to our flash glucose monitoring industry analysis, type 2 diabetes disorders accumulated the most market shares in 2021 and are likely to maintain their dominance from 2022 to 2030. Type 2 diabetes has a greater patient population than type 1 diabetes. As a result, these patients use flash glucose monitoring more frequently. The glycated haemoglobin (A1C) test is commonly used to identify type 2 diabetes. The American Diabetes Association encourages routine screening for type 2 diabetes with diagnostic tests in all persons 45 and older. In addition, people across all ages are under risk of getting diagnosed with type 2 diabetes, thereby driving the flash glucose monotoring market share.
Flash Glucose Monitoring Market by End-User
- Hospital
- Clinics
- Academic & Research Institutes
- Others
According to our flash glucose monitoring market forecast, the hospital sub-segment achieved a considerable market share from 2022 to 2030. A huge base of the population monitors their glucose in hospitals thus the sub-segment is anticipated to lead the market. In addition to that, the presence of advanced medical devices, the presence of healthcare professionals, and favorable reimbursement policies provided are also propelling the flash glucose monitoring market demand in hospitals. However, the academic & research institutes sub-segment is holding significant growth throughout the projected timeframe.
Flash Glucose Monitoring Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
Rising prevalence of diabetes in US fuels the North America flash glucose monitoring market value
Geographically, the market is segmented into four major regions such as North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). North America dominates the global flash glucose monitoring market owing to the increasing prevalence of diabetes, presence of huge obese population, and changing lifestyle. According to the American Diabetic Association, in 2015, over 30.3 millions of Americas were suffering from diabetes. Additionally, well developed End-User and high healthcare spending have led to increase the demand for flash glucose monitoring devices, which in turn driven the growth of the market. Europe holds the second leading position in the market owing to the huge government support, well developed End-User and adoption of the advanced devices for the monitoring of the devices. Asia Pacific is expected to be the fastest growing region. The growth of this region is majorly attributed to increasing number of the diabetic population, presence of rapidly developing economies and increasing per capita income of the people. However, Latin America is holds the least market share but is expected to have a healthy growth in near future. The Middle East region holds a significant share in the market owing to the high spending power of the people and presence of developed economies.
Flash Glucose Monitoring Market Players
Some of the global flash glucose monitoring companies profiled in the report includes Abbott laboratories, Animas, Roche, Dexcom, Glysens, Medtronic, Omnipod Senseonics, and Ypsomed.