Pune, Aug. 04, 2023 (GLOBE NEWSWIRE) -- “As per the SNS Insider report, the Continuous Glucose Monitoring Market reached a valuation of USD 7.6 billion in 2022. It is projected to attain USD 10.56 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period spanning from 2023 to 2030.”
Market Overview
Continuous glucose monitoring is a game-changing advancement in diabetes management. By providing real-time and comprehensive glucose data, CGM empowers individuals with diabetes to make informed decisions and take proactive steps toward optimizing their health. As technology continues to improve and becomes more accessible, CGM will undoubtedly play an increasingly pivotal role in transforming the lives of millions affected by diabetes, fostering better glucose control and ultimately improving overall well-being.
Market Analysis
The continuous glucose monitoring market is experiencing robust growth, fueled by technological advancements, the rising prevalence of diabetes, and increasing awareness of diabetes management solutions. As the global burden of diabetes continues to escalate, CGM systems will play a crucial role in improving glycemic control and reducing diabetes-related complications. Additionally, favorable reimbursement policies and a growing focus on remote healthcare solutions further amplify the market's potential.
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Major Players Analysis included in this Report are:
The major key players are Dexcom Inc, Medtronic Inc, Abbott Laboratories, Ypsomed AG, GlySens Incorporated, Ascensia Diabetes Care, F. Hoffmann-La Roche Ltd. and other players
Impact of Recession on Continuous Glucose Monitoring Market Growth
While the continuous glucose monitoring market has shown substantial growth and promise in recent times, it is not impervious to economic fluctuations. A recession can impact the CGM market through reduced consumer spending, delayed product upgrades, market consolidation, changes in healthcare priorities, and hindered research and development efforts. However, it is essential to remember that the severity and duration of these impacts may vary based on the overall economic situation, regional factors, and how well the CGM industry adapts to the changing circumstances.
Impact of Russia-Ukraine War
The Russia-Ukraine war has had a multifaceted impact on the continuous glucose monitoring market. The disruptions in manufacturing, regulatory challenges, economic instability, and the potential for international sanctions all pose significant threats to the CGM industry. However, these challenges also present opportunities for market diversification and strengthening the resilience of CGM manufacturers and distributors.
Continuous Glucose Monitoring Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.6 Bn |
| Market Size by 2030 | US$ 10.56 Bn |
| CAGR | CAGR of 4.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Continuous Glucose Monitoring Market: Key Segmentation | • By Component (Sensors, Transmitters, Receivers) • By End-Use Outlook (Hospitals, Home Care, Others) • By Connectivity Outlook (Bluetooth, 4G) |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Regional Developments
The continuous glucose monitoring market exhibits dynamic growth across different regions, with varying factors influencing its expansion. North America leads the pack due to advanced healthcare systems and supportive policies, while Europe benefits from the increasing awareness of diabetes management solutions. Asia-Pacific, Latin America, and the Middle East, and Africa are promising markets with growing diabetic populations, but face unique challenges related to affordability, accessibility, and awareness.
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Key Takeaway from Continuous Glucose Monitoring Market Study
- The Sensors segment lies at the heart of the market. These small, wearable devices serve as the vital link between patients and their glucose data, providing accurate, real-time readings throughout the day.
- The Hospitals segment plays a crucial role in the CGM market, empowering healthcare professionals with invaluable data insights and fostering better patient outcomes. Hospitals and medical institutions have embraced CGM technology for its ability to provide continuous, detailed glucose profiles, enabling personalized treatment plans and adjustments based on individual patient needs.
Recent Developments Related to Continuous Glucose Monitoring Market
- DarioHealth, a leading digital health company, and Dexcom, a world-renowned continuous glucose monitoring (CGM) systems provider, have joined forces to revolutionize chronic care management. This partnership aims to leverage the power of CGM data to create innovative solutions for a wide range of chronic conditions, significantly enhancing patient outcomes and quality of life.
- UnitedHealthcare has announced that it will now cover Continuous Glucose Monitoring (CGM) devices for adults with Type 2 Diabetes who are on insulin therapy. This move comes as a significant development in healthcare, aimed at improving diabetes management and overall patient outcomes.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Continuous Glucose Monitoring Market Segmentation By Component
9. Continuous Glucose Monitoring Market By End-Use Outlook
10. Continuous Glucose Monitoring Market By Connectivity Outlook
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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