Continuous Glucose Monitoring Market Size - By Component (Transmitters, Sensors, Receivers), By End-use (Hospitals, Home Care Setting, Diagnostic Centers & Clinics) – Global Forecast to 2032

Continuous Glucose Monitoring Market Size - By Component (Transmitters, Sensors, Receivers), By End-use (Hospitals, Home Care Setting, Diagnostic Centers & Clinics) – Global Forecast to 2032

Continuous Glucose Monitoring Market Size

Continuous Glucose Monitoring Market size was valued at USD 6.8 billion in 2023 and is projected to reach at USD 20.2 billion by 2032. Continuous glucose monitoring (CGM) is a technology used to monitor blood glucose levels in real time throughout the day and night. It is primarily used by individuals with diabetes to track their glucose levels more frequently and accurately than traditional fingerstick tests.
 

Further, CGM systems comprise of glucose biosensors, transmitters, and receivers and are programmed to provide alerts and alarms when glucose levels are too high or too low, helping individuals take prompt action to prevent dangerous fluctuations. Moreover, the growing number of people suffering from type 1 and type 2 diabetes across the globe is the primary factor driving the industry expansion. For instance, according to the International Diabetes Federation, in 2021, approximately 537 million people were diagnosed with diabetes, and it is estimated to reach about 783 million by 2045.
 

Moreover, the growing geriatric population base suffering from age-onset diabetes is further propelling the market development. As per data provided by the World Health Organization (WHO), by 2050, the global population of individuals aged 60 years and above will double to approximately 1.2 billion. Additionally, the increasing patient awareness regarding diabetes management and control.
 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the continuous glucose monitoring market progression. Initially, the market suffered a setback due to commencement of lockdown and stringent regulations imposed by authorities during the lockdown. During this pandemic, continuous glucose monitoring (CGM) gained popularity for the self-management of diabetes, effectively assisting in the treatment of diabetes.
 

Furthermore, post-lockdown the product costs rapidly declined due to high demand, making them highly affordable to the people, thereby increasing the sales of continuous glucose monitoring devices. Moreover, as diabetic patients are more prone to COVID-19, the demand for diabetes care devices including self-monitoring blood glucose devices and CGM spiked during the pandemic.
 

Continuous Glucose Monitoring Market Trends

The growing burden of diabetes as a consequence of obesity across the world is one of the primary factors propelling the industry development. For instance, as per statistics, an obese person is six times more likely to develop diabetes mellitus as compared to a healthy person. Moreover, accompanying factors contributing to obesity include an inactive lifestyle, unhealthy eating habits, high consumption of alcohol and tobacco, poor gut health, high stress, and family history. These factors combined altogether result in diabetes in an individual. Moreover, technological advancements in manufacturing of digital diabetes devices for management of diabetes will further augment industry expansion.
 

Continuous Glucose Monitoring Market Analysis

Based on component, the continuous glucose monitoring market is segmented into transmitters, sensors, and receivers. The sensors segment witnessed the largest revenue size at USD 2.8 billion in 2022. The sensor is a small, flexible device that is inserted beneath the skin, usually on the abdomen or arm. It measures glucose levels in the interstitial fluid, which is the fluid that surrounds the body's cells. Moreover, CGM sensors not only provide current glucose levels but also indicate the direction and rate of glucose change with trend arrows. This information is valuable for identifying patterns, such as rapid glucose drops or spikes, and enables individuals to take appropriate action to manage their glucose.
 

Additionally, with the increasing number of patients suffering from type 1 diabetes, the demand for continuous glucose monitoring devices is growing due to several advantages such as it helps in early detection of hypoglycaemia, offers real-time data regarding one’s glucose levels, multiple pricking is not required, and improves the quality of glycaemic control in a person.
 

The continuous glucose monitoring market is segmented by hospitals, home care settings, diagnostic centers & clinics, and others. Home care settings segment is estimated to witness significant revenue at USD 8.1 billion by 2032. The demand for diabetes monitoring devices has increased phenomenally over the years especially post the COVID-19 pandemic. Due to a dearth in the availability of healthcare professionals, doctor appointments, appointments at diagnostic centers, and so forth, people gravitated more towards wearable medical devices to monitor their blood glucose levels. Furthermore, the availability of qualified nurses and the growing adoption for home care healthcare facilities in developed as well as developing countries is boosting the home care settings segment gains.
 

U.S. continuous glucose monitoring market accounted for USD 2 billion in 2022. The affordability of continuous glucose monitoring devices among the target population base and ongoing technological developments are primarily responsible for the progress of the U.S. continuous glucose monitoring business size. Further, the region's high healthcare spending on health care management and rising disposable income will propel the expansion of the North America market. Also, the substantial presence of well-established market participants and the favourable regulatory environment result in a number of product approvals and launches, particularly in the U.S.
 

Continuous Glucose Monitoring Market Share

Some of the notable key industry players operating in the continuous glucose monitoring market include

• Lifescan, Inc.
• Ascensia Diabetes Care Holdings AG. (Senseonics, Inc.)
• Nova Biomedical
• Universal Biosensors
• Taidoc Technology Corporation
• Med Trust
• Roche AG
• Dexcom
• Abbott
• i-SENS, Inc.
• Trividia Health
• Medtronic
• Pinnacle technology
   

Continuous Glucose Monitoring Industry News

• In March 2022, Dexcom announced received CE Mark approval for its Dexcom G7, a continuous glucose monitoring system in Europe for people suffering from diabetes. This new device offers compact design and enhanced alert settings, a 30-minute sensor warm-up process. The company also aims to launch the product in Europe market with a modified CGM algorithm and innovative CGM sensor. Such product advancements offered competitive edge in the significant market.
   
• In February 2021, Roche launched new Accu-Chek Instant System. This new blood glucose monitoring (BGM) system is "connected," and it also supports Roche's integrated, personalized diabetes management technology (iPDM). Accu-Chek Instant can wirelessly communicate blood glucose data to the mySugr app via Bluetooth connectivity. This strategy increased the company's overall market position while strengthening its portfolio of diabetes products.
   

Continuous glucose monitoring market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments

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By Component (USD Million)

• Sensors
• Transmitters
• Receivers

By End-use (USD Million)

• Hospitals
• Home care setting
• Diagnostic centers & clinics
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Russia
  • Poland
  • Switzerland
  • Norway
  • Finland
  • Sweden
  • Denmark
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Taiwan
  • Indonesia
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Israel