Selbyville, Delaware, April 29, 2024 (GLOBE NEWSWIRE) --
Continuous Glucose Monitoring Market Size is projected to accrue over USD 20 billion in revenue by 2032. The increasing prevalence of diabetes across the world is driving the demand for continuous glucose monitoring.
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As per WHO, around 422 million individuals globally are affected by diabetes, with the majority residing in low- and middle-income nations, and approximately 1.5 million deaths directly linked to diabetes annually. Continuous glucose monitoring (CGM) devices offer real-time monitoring of glucose levels, allowing patients and healthcare providers to make timely adjustments to medication, diets, and lifestyles.
The rising advancements in CGM technology, such as the development of smaller and more accurate sensors, enhanced connectivity features, and improved data analytics capabilities are also propelling the market growth. Moreover, CGM systems help in early detection of glucose fluctuations whilst reducing the risk of hypoglycemia and hyperglycemia episodes. This approach to diabetes management has garnered attention from patients, caregivers, and healthcare providers. Additionally, favorable reimbursement policies for CGM systems in many regions have made these devices more accessible to patients.
Rising usage of CGM transmitters
Continuous glucose monitoring market from the transmitters component segment will register a noteworthy CAGR from 2024 to 2032. Rising technological advancements have led to the development of more compact and user-friendly transmitters, making them increasingly appealing to patients seeking CGM solutions. The integration of wireless connectivity features in transmitters also offers seamless data transmission to compatible devices, such as smartphones and smartwatches for enhancing the overall user experience. The increasing adoption of CGM systems in both clinical and home settings will add to the segment progression.
Increasing adoption in diagnostic centers & clinics
The diagnostic centers & clinics segment in the continuous glucose monitoring market may exhibit a decent development rate over 2024-2032. By offering CGM services in diagnostic centers and clinics, healthcare providers can reach a broader patient population and facilitate timely diagnosis and treatment of diabetes-related complications. The presence of trained medical professionals in these settings also ensures proper guidance and support for patients using CGM systems for enhancing the overall quality of care.
Asia Pacific to garner higher demand
Asia Pacific continuous glucose monitoring market size will register a robust CAGR from 2024 to 2032, attributed to the large and rapidly expanding diabetic population. Technological advancements in CGM systems tailored to preferences like smaller form factors and enhanced connectivity features across the region are fueling the adoption of CGM devices. The increasing healthcare expenditure and improving access to medical technologies in emerging economies are further driving the regional industry expansion.
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Continuous Glucose Monitoring Industry Players
Some of the continuous glucose monitoring market players include Pinnacle technology, Lifescan, Inc., Ascensia Diabetes Care Holdings AG. (Senseonics, Inc.), Medtronic, Nova Biomedical, Trividia Health, Universal Biosensors, i-SENS, Inc., Taidoc Technology Corporation, Abbott, Med Trust, Dexcom and Roche AG. These companies are focusing on strategies like innovations, partnerships and capacity expansions to widen their consumer base. To cite an instance, in March 2024, Roche launched a new CGM technology featuring predictive AI for outlining its diabetes strategy.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Continuous glucose monitoring market industry 360° synopsis, 2018 - 2032 (USD Million)
2.1.1 Business trends
2.1.2 Regional trends (USD Million & Units)
2.1.3 Component trends
2.1.4 End-use trends
Chapter 3 Continuous Glucose Monitoring Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing number of people suffering from diabetes across the world
3.2.1.2 Rise in demand for continuous monitoring devices globally
3.2.1.3 Technological advancements in devices
3.2.1.4 Increasing government initiatives to generate awareness regarding diabetes
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost related to devices
3.2.2.2 Stringent regulatory scenario
3.3 Growth potential analysis
3.3.1 By component
3.3.2 By end-use
3.4 COVID- 19 impact analysis
3.5 Technological landscape
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.7 Porter's analysis
3.8 PESTEL analysis
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