The Global Continuous Glucose Monitoring (CGM) Market is projected to reach approximately US$ 13.06 Billion by 2032, with a compound annual growth rate (CAGR) of 8.40% from 2024 to 2032. The market was valued at US$ 6.32 Billion in 2023.
Overview of Continuous Glucose Monitoring (CGM)
Continuous glucose monitoring is an essential tool for individuals with diabetes, providing real-time insights into blood sugar levels. This technology helps patients manage their insulin needs effectively, reducing the risks associated with hyperglycemia and hypoglycemia.
Key Market Trends
1. Growth in Prediabetes Prevalence
· Prediabetes is characterized by elevated blood sugar levels that may not yet indicate type 2 diabetes. The incidence of impaired fasting glucose (IFG) is projected to increase from 298 million in 2021 to 414 million by 2045, driving demand for CGM devices.
2. Increasing Older Population
· The aging population is more susceptible to diabetes. By 2030, an estimated 195.2 million individuals aged 65 or older will have diabetes, further propelling the need for continuous monitoring solutions.
3. Technological Innovations
· Advancements in CGM technology enhance accuracy and user-friendliness. For example, DexCom's Dexcom ONE+ device, launched in early 2024, features a waterproof sensor and real-time monitoring capabilities.
United States Market Insights
The United States is expected to lead the global CGM market due to a high prevalence of diabetes. In 2021, approximately 38.4 million Americans had diabetes, with 97.6 million identified as pre-diabetic. Initiatives like the Medicare Diabetes Prevention Program are also contributing to market growth.
Here are some related reports that may interest you:
1. Insulin Pen Market, Size, Analysis Forecast 2024-2032
This report analyzes the global insulin pen market, predicting a value of approximately US$ 10.71 billion by 2032, driven by the rising incidence of diabetes and technological advancements in insulin pen designs.
2. Insulin Pump Market, Size, Share, Global Forecast 2024-2032
This report provides insights into the global insulin pump market, including market size, share, and forecasts, focusing on the increasing prevalence of diabetes and advancements in insulin delivery technology.
3. BRIC CGM Market, Forecast By Users & CGM Components
This study covers the continuous glucose monitoring (CGM) market in Brazil, Russia, India, and China (BRIC), highlighting user demographics, reimbursement policies, and market forecasts.
4. United States Diabetes Market, Size, Forecast 2023-2028
This report explores the diabetes market in the United States, focusing on market trends, forecasts, and the impact of diabetes on healthcare resources and expenditures.
Notable Company Developments
- Dexcom Inc.
- In March 2024, the FDA approved the Dexcom Stelo Glucose Biosensor System for over-the-counter sale, marking a significant advancement in CGM accessibility.
- Medtronic
- The MiniMed™ 780G system was updated to include a new disposable CGM, enhancing user experience with a simplified insertion process.
- I-SENS
- Launched CareSens Air, a compact CGM device approved in South Korea, capable of continuous monitoring for 15 days.
Market Breakdown
- By Component:
1. Sensors
2. Transmitters
3. Receivers
- By End-User:
1. Hospitals
2. Homecare Settings
3. Others
- By Region:
- North America (U.S., Canada)
- Europe (France, Germany, Italy, Spain, UK, Belgium, Netherlands, Turkey)
- Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, South Africa)
Companies Covered
1. Dexcom Inc.
2. Ypsomed AG
3. Abbott Laboratories
4. Senseonics Holdings, Inc.
5. Nemaura Medical, Inc.
6. Medtronic, Inc.
7. Tandem Diabetes Care
8. Nova Biomedical
