Global Continuous Glucose Monitoring (CGM) Market Report 2024-2032: Components, End-users, Regions, Company Analysis

Dublin, July 01, 2024 (GLOBE NEWSWIRE) -- The "Global Continuous Glucose Monitoring Market Report by Component, End-user, Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.

The Global Continuous Glucose Monitoring Market was valued at US$ 6.32 billion in 2023 and is projected to reach US$ 13.06 billion by 2032, rising at a Compound Annual Growth Rate (CAGR) of 8.40% from 2024 to 2032.

This report provides a comprehensive analysis of the market segmented by components, end-users, countries, and key companies. The component segment is broken down into sensors, transmitters, and receivers. The end-user segment includes hospitals, homecare settings, and others. The geographic analysis covers 25 viewpoints including North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa, and the Rest of the World, with detailed insights into specific countries such as the United States, Canada, Germany, China, and Brazil among others. Company analysis features major players like Dexcom Inc., Ypsomed AG, Abbott Laboratories, and Medtronic, Inc., and includes an overview, recent developments, and revenue analysis for each.

Diabetes is an extreme health issue affecting millions of humans worldwide:

• Currently, there are 537 million adults living with diabetes, and this number is expected to increase to 643 million by 2030 and 783 million by 2045.
• Almost half of adults with diabetes (44%) are undiagnosed, equating to 240 million people. The majority have type 2 diabetes.
• Over 75% of people with diabetes reside in low and middle-income countries.
• It is estimated that over 1.2 million children and adolescents aged between 0-19 years suffer from type 1 diabetes.
• In 2021, diabetes was responsible for 6.7 million deaths.
• Diabetes accounted for a minimum of $ 966 billion in healthcare spending in 2021, representing 9% of the global total.
• High blood glucose during pregnancy affects one in six live births (21 million).

CGM Users by Country:

• As of March 2023, approximately 2.4 million people in the United States are utilizing continuous glucose monitors.
• In December 2022, 200,000 UK patients were using non-invasive glucose monitoring devices, up a third since spring.
• In 2023, 61.9% of women and 58% of men in Germany will use continuous glucose monitors (CGMs).
• In April 2023, The CGM penetration rate for type 1 diabetes in China was 6.9% and is expected to reach 38% by 2030.
• In 2021, Approximately 33.9% of Japanese people utilize Continuous Glucose Monitors (CGMs).
• In 2023, Over half (53.1%) of the total cohort of type 1 diabetes patients in India use a continuous glucose monitoring (CGM) device, according to a study by Mary Ann Liebert Inc.

China CGM Market

Diabetes has spread swiftly over the past decade because of adjustments in lifestyle and an ageing population. By 2045, it's envisioned to have an effect on 629 million people globally. China already has the largest range of diabetes sufferers (114.4 million) and is expected to attain 48%. According to The Lancet Regional Health, the costs of diabetes in China will boom from $250.2 Billion to $460.4 Billion throughout 2020-2030, with an annual increase rate of 6.32%.

Abbott Laboratories released a device called FreeStyle Libre 3 on April 2023. It is a hand-held device that shows real-time glucose readings from a sensor worn at the top of the of the arm. This enables diabetes patients to control their situation by viewing their glucose readings on a huge, vivid screen.

Continuous Glucose Monitoring Company News:

• The Dexcom Stelo Glucose Biosensor System has been approved by the FDA for OTC sale, making it the first OTC continuous glucose monitor in 2024.
• In January 2024, Medtronic's MiniMed 780G system now features Simplera Sync, a disposable continuous glucose monitor that eliminates the need for fingerstick. It offers a simple two-step insertion process and is half the size of previous Medtronic sensors, providing an improved user experience.
• In 2023, Abbott Labs reported that FreeStyle Libre, its flagship CGM.
• In June 2023, I-SENS launched CareSens Air, a compact glucose monitoring device approved by the South Korean Ministry. It functions for 15 days and has a calibration mechanism for accurate readings.
• In March 2023 - the Eversense E3 CGM System offers real-time glucose values and trends via a mobile app.

Key Attributes

Companies Featured:

• Dexcom Inc.
• Ypsomed AG
• Abbott Laboratories
• Senseonics Holdings, Inc.
• Nemaura Medical, Inc.
• Medtronic, Inc.
• Tandem Diabetes Care
• Nova Biomedical

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• Global Continuous Glucose Monitoring Market