Global Continuous Glucose Monitoring Market Assessment, By Component [Transmitters, Receivers, Sensors], By Age Group [Children, Adults, Geriatric], By Diabetes Type [Type-1 Diabetes, Type-2 Diabetes], By End-user [Hospitals, Home Care Settings, ICU, Others], By Region, Opportunities and Forecast, 2017-2031F

Global continuous glucose monitoring market is projected to witness a CAGR of 11.13% during the forecast period 2024-2031, growing from USD 5.75 in 2023 to USD 13.38 in 2031. The continuous glucose monitoring market is an integral part of the medical device industry, accounting for one of the fastest growth rates. Factors are driving the market such as the increasing prevalence of diabetes, the growing adoption of CGM devices, increasing awareness about diabetes monitoring, and technological advancements.

Continuous glucose monitoring devices use glucose level measurements to manage diabetes by minimizing fingerstick tests. Continuous glucose levels are measured throughout the day by a sensor located on or beneath the patient’s skin. A transmitter can be used together with some wearable appliance, for instance, a smartwatch, to display changes in blood sugar levels at any given moment of time. Nevertheless, it takes a while to adjust to using a CGM for diabetes management, although it simplifies the process. When CGM data is being utilized, the time-in-range method measures the duration patients have been within the desired glucose levels in addition to a number of times that their glucose has risen above (hyperglycemia) or gone below normal levels (hypoglycemia). A blood glucose meter provides a single-point estimate of a person’s blood sugar level, while a CGM device offers a broader perspective on patterns in relation to glucose. It has been demonstrated in several studies that CGM devices help users keep their glucose levels at a constant range, eliminate low and high glucose levels cases, and reduce the chances of coming up with problems that are related to diabetes. Nevertheless, using CGM is a long-term solution.

In March 2024, Roche presented new continuous glucose monitoring technology with artificial intelligence at a conference on Advanced Technologies & Treatments for Diabetes in Italy. The company revealed its Accu-Chek SmartGuide. The device is under research and has not yet been approved for retail sales. There are several characteristics that Abbott and Dexcom CGMs and the Accu-Chek SmartGuide have in common. It has waterproof qualities, a one-step application technique, and a 14-day wear time. On the other hand, unlike some of the newest generation of devices, this CGM needs initial calibration.

Increasing Prevalence of Diabetes Globally

The demand for CGM has increased significantly along with the number of individuals with diabetes. 31% of the 23 million Americans who have diabetes receive insulin treatment, which enables them to use continuous glucose monitoring (CGM). The American Diabetes Association recommends CGM as the gold standard of treatment for those with type 1 diabetes and a crucial device for patients with type 2 diabetes undergoing insulin therapy. In conclusion, the increasing number of people with diabetes is driving demand for continuous glucose monitoring devices, which may significantly improve glucose control and health outcomes for those with the disease. With the increasing number of diabetic people, access to this technology is becoming a priority.

Technological Advancements to Increase Market Demand

The field of CGM technology is continually evolving, with numerous research projects and clinical trials underway. Diabetes is a significant healthcare challenge, and the potential for improving patient outcomes through CGM technology remains effective. Artificial intelligence and machine learning are expected to significantly evolve the role of CGM technology. These advancements will make artificial pancreas systems more precise and sensitive, allowing patients to live their lives naturally without being controlled by their diabetes. Dexcom introduced Dexco ONE+, a real-time continuous glucose monitoring device in Poland, Spain, and Belgium, in February 2024. On February 12th, the business introduced its CGM device in the Netherlands. In the upcoming months, Dexcom plans to introduce Dexcom ONE+ in the Middle East and Africa and other European nations. The Dexcom ONE+ system is made up of a transmitter that transmits CGM data, a water-resistant blood glucose sensor, and an application that works with smartphones to access the Dexcom One app.

Sensors Dominate the Component Segment in the Global Continuous Monitoring Market

Based on components, the sensors account for the highest share in the continuous glucose monitoring market. CGM sensors calculate the glucose level in the fluids between cells, and it is quite comparable to the glucose levels in the blood. Depending on the type of sensor a patient has, it may be necessary to change it every few weeks or at other specified intervals. Depending on the model, disposable CGM sensors need to be changed every 7 to 14 days. A few implanted sensors have a 180-day lifespan. Abbott introduced two over-the-counter glucose monitors in the United States in June 2024, competing against Dexcom's Stelo. Abbott had planned to launch Lingo in the United States after its release in the United Kingdom last year. The device analyzes glucose levels over the course of 14 days and can be worn on the upper arm to assist users in better understanding how their bodies respond to various diets, physical activities, and stresses. Abbott was given FDA approval on May 29^th, 2024, to market its Lingo system without a prescription.

Home Care Settings Will Hold the Highest Share in the Forecast Period

In the future, home care settings are expected to witness a significant increase in demand for continuous glucose monitoring (CGM) devices. As the technology develops, with longer sensor wear times, more accuracy, and easier smartphone connection, CGM will become a more alluring alternative for home-based diabetes care. Compared to traditional self-monitoring, continuous glucose monitoring (CGM) is more convenient and is likely to increase adherence since it eliminates the need for fingerstick tests. By enabling patients to actively control their disease and prevent complications, more widespread utilization of CGM has the potential to revolutionize the way diabetes is treated. The use of these devices in homes is expected to increase in the upcoming years as they become more widely available and affordable.

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Future Market Scenario (2024-2031F)

As technology evolves, opportunities for continuous glucose monitoring (CGM) devices appear to be positive. In the upcoming years, there will be a significant demand for CGM devices in home-care settings. Effective self-management technologies, such as CGM, will become essential as diabetes gains prevalence worldwide. Real-time glucose data from CGM helps diabetics better understand their levels and trends, which has been demonstrated in trials to enhance glycemic management, reducing the risk of hypoglycemia and healthcare expenses. The benefits of CGM for in-home diabetes care will grow as sensor wear duration, accuracy, and smartphone integration increase. Furthermore, the market for glucose monitoring devices is expanding rapidly due to R&D expenditures that are advancing sensor technologies and incorporating integration.

Report Scope

“Continuous Glucose Monitoring Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global continuous glucose monitoring market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 11.13% between 2024 and 2031
Revenue Forecast in 2031	USD 13.38 billion
Segments Covered	Component, Age Group, Diabetes Type, End-user
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	Abbott Laboratories, Medtronic Plc, Ypsomed AG, Senseonics Holdings Inc., Insulet Corporation, Medtrum Technologies, Nemaura Medical Inc, Menarini Diagnostics S.A, Dexcom Inc, F.Hoffman-La Roche Ltd.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global continuous glucose monitoring market has been segmented into the following categories: 

·         By Component

o   Transmitters

o   Receivers

o   Sensors

·         By Age Group

o   Children

o   Adults

o   Geriatric

·         By Diabetes Type

o   Type-1 Diabetes

o   Type-2 Diabetes

·         By End-user

o   Hospitals

o   Home Care Settings

o   ICU

o   Others

·         By Region

o   North America

o   Europe

o   South America

o   Asia-Pacific

o   Middle East and Africa

Key Players Landscape and Outlook

Several medical device companies are flourishing in the continuous glucose monitoring market by planning and adopting new strategies. They are complying with new strategic initiatives for medical devices to increase their market presence. New agreements, contracts, acquisitions, mergers, investments, and partnerships are major ways through which they are trying to achieve higher market share.

In May 2024, Sensonics, a globally renowned manufacturer of implantable CGM systems, announced its partnership with Rimidi. The main aim of this collaboration is to formulate the Eversense Remote Patient Monitoring (RPM) Program, which will combine healthcare workflows easily. The Eversense CGM + RPM solution will integrate Rimidi’s clinical management platform with Senseonic’s durable Eversense sensor.

Key Players Operating in the Global Continuous Glucose Monitoring Market are:

·         Abbott Laboratories

·         Medtronic Plc

·         Ypsomed AG

·         Senseonics Holdings Inc.

·         Insulet Corporation

·         Medtrum Technologies

·         Nemaura Medical Inc

·         Menarini Diagnostics S.A

·         Dexcom Inc

·         F.Hoffman-La Roche Ltd.

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·         How are the markets divided into different product/service segments and the market size and growth of each segment?

·         What is the market potential of different product segments and their investment case?

·         How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

·         What is the business environment and regulatory landscape specific to the product/service?

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