Pune India, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the continuous glucose monitoring (CGM) systems market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the continuous glucose monitoring (CGM) systems market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the component, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global continuous glucose monitoring (CGM) systems market are Medtronic PLC, Echo Therapeutics, Animas, Sano Intelligence, Baxter, Biolinq, and Pfizer among others. To achieve a substantial market share in the worldwide continuous glucose monitoring (CGM) systems market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Glucose monitoring, also called blood sugar monitoring, is an automatic way to monitor your blood sugar levels throughout the day and night. One can see their glucose levels at a glance at any time. A health-conscious outlook of the people will lead to an opportunistic outlook for the market. Continuous blood glucose monitoring systems have improved technology, so they can monitor blood glucose levels around the clock. Additionally, the monitors provide users with key data to help them manage diabetes by displaying glucose direction and additional information. Over 1.9 billion adults in 2016 were overweight, of which 650 million were obese, a major contributor to diabetes, according to the WHO 2016. With the help of a sensor, these devices provide the capability of monitoring blood glucose at various intervals and transmitting these readings over a wireless network. As well, the need for hyperglycemic and hypoglycemic conditions to be diagnosed in an individual, and the need for research and development by the key players would influence the market in a positive way. There are some factors which are impacting the market growth negatively such as a lack of understanding about the use of such devices, the high cost of the devices etc. Furthermore, continuous R&D and rising technical innovations in the development of CGM devices will create more growth opportunities for the market.
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Scope of Continuous Glucose Monitoring (CGM) Systems Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Component, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Medtronic PLC, Echo Therapeutics, Animas, Sano Intelligence, Baxter, Biolinq, and Pfizer among others |
Segmentation Analysis
Sensors are expected to be the fastest-growing segment in 2022.
The component segment is sensors, transmitters, and receivers. The sensors segment is expected to witness the highest growth rate during the forecast period. Diabetes patients use a tiny electrode to monitor their glucose levels. A small filament, inserted under the skin, continuously measures the glucose levels within the body and records the data. Users are able to download the data recorded in the sensors within 5 seconds.
Hospitals are expected to be the fastest-growing segment in 2022.
The end-user segment is home care, hospitals, and others. The hospital segment is expected to witness the highest growth rate during the forecast period. Continuous glucose monitoring devices are increasingly being used by hospitals and healthcare facilities to monitor diabetes mellitus patients' blood sugar levels, which is driving this expansion. Continuous glucose monitoring systems have been found to outperform self-monitoring blood glucose devices in clinical trials, including gestational diabetes.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the capacity management solutions market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. In recent years, diabetes prevalence has increased alarmingly in the North American region. As a result of lifestyle changes, diabetes is on the rise in developed countries, such as the United States and Canada. The rising number of diabetes cases is the key driving factor behind the growth of the market in the region. The market for continuous glucose monitoring is consolidated, with only a handful of major vendors.
Country Analysis
- Germany
Germany's continuous glucose monitoring (CGM) systems market size was valued at USD 0.30 billion in 2022 and is expected to reach USD 0.74 billion by 2030, at a CAGR of 12.1% from 2023 to 2030.
In the European region, Germany has one of the highest diabetes populations, which requires the use of CGM devices alongside insulin pumps. According to research, there may be an increase in the number of diabetic patients using insulin pumps to manage their diabetes, which is directly related to the increase in the number of diabetes patients using insulin pumps. As a result, CGM devices are expected to increase in sales.
- China
China’s continuous glucose monitoring (CGM) systems market size was valued at USD 0.30 billion in 2022 and is expected to reach USD 0.76 billion by 2030, at a CAGR of 12.5% from 2023 to 2030.
There has also been an increase in the number of insulin-dependent patients in China as well as a rise in the geriatric population. People have also shown a desire to purchase more advanced products in order to maintain blood glucose levels, boosting the growth of the market in the country.
- India
India's continuous glucose monitoring (CGM) systems market size was valued at USD 0.234 billion in 2022 and is expected to reach USD 0.59 billion by 2030, at a CAGR of 12.4% from 2023 to 2030.
Among the country's health conditions, diabetes is the fastest growing, and the country is home to a large number of diabetics. It is believed that the increasing prevalence of diabetes and obesity, increasing awareness of diabetic care and healthcare expenditures as well as technological advancements are further driving the market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising cases of diabetes, patients etc., propelling the growth of the market across the countries.
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