Continuous glucose monitoring (CGM) devices are medical devices used to measure glucose levels for an extended period of time. CGM devices are used by diabetics to track fluctuations in glucose levels through a small sensor inserted under the skin. This helps patients manage their diabetes efficiently and make necessary lifestyle changes. The global continuous glucose monitoring devices market provides an effective way to monitor glucose levels for people suffering from type 1 diabetes as well as type 2 diabetes on an insulin pump. The global Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2.9 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rise in the number of diabetes cases across the world has been a key driver boosting the demand for continuous glucose monitoring devices. As per the International Diabetes Federation, approximately 537 million adults (20-79 years) were living with diabetes in 2021 globally, and this figure is projected to rise to 643 million by 2030 and 783 million by 2045. A study published in The Lancet also estimated over 374 million undiagnosed cases of diabetes worldwide. This has resulted in an increased demand for effective glucose monitoring devices like CGM systems. Advanced CGM systems provide real-time glucose readings and alerts whenever glucose levels fall or rise beyond set thresholds. This has helped diabetes patients better manage their condition and avoid complications over time.
Segment Analysis
The Global Continuous Glucose Monitoring Devices Market analysis is segmented on the basis of component, type and end use. Based on component, the market is segmented into sensors, transmitter and receiver. Among them, the sensor segment dominated the market in 2023 owing to the repeated replacement needs compared to other components. Based on type, the market is segmented into self-monitoring blood glucose system and continuous glucose monitoring system. The continuous glucose monitoring system segment held the largest share in the market in 2023 due to its ability to monitor glucose levels painlessly and continuously. Based on end use, the market is segmented into hospitals, homecare settings and diagnostic centers. The homecare settings segment is expected to witness highest growth during the forecast period as these devices allow remote monitoring without hospitalization.
Key Takeaways
The global Continuous Glucose Monitoring Devices Market is expected to witness high growth.
Regional analysis: North America region held the largest market share in 2023. This is attributed to increasing prevalence of diabetes and presence of major players in countries like the US and Canada. It is projected that Asia Pacific region will witness highest growth during the forecast period owing to growing geriatric population and increasing healthcare expenditure in countries like China and India.
Key players: Key players operating in the continuous glucose monitoring devices market are 3M, BSN Medical, Sigvaris AG, Cardinal Health, Medi GmbH & Co, ArjoHuntleigh Healthcare India, Bio Compression Systems Inc, Zimmer Biomet India, Spectrum Healthcare and Vissco Healthcare. 3M dominated the market in 2023 owing to its wide product portfolio and strong distribution channel across regions.
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The Global Continuous Glucose Monitoring Devices Market research report offers accurate insights for the growth prospects of the Continuous Glucose Monitoring Devices market in the forecast years 2020-2027.
The report is an all-inclusive study of the Continuous Glucose Monitoring Devices market that offers the readers a better view of the current and emerging market trends through a thorough analysis of the market size, growth trends, supply and demand ratio, market share, sales network and distribution channels, and other key elements.Furthermore, the report is furnished with the current market scenario with regards to the COVID-19 pandemic.
The global public health emergency has disrupted the lives of everyone across the globe.
It has also had a substantial impact on the Continuous Glucose Monitoring Devices industry as global supply chains have been disrupted, and the financial scenario is tight.
The report assesses the initial and future impact of the pandemic on the market and its key segments to offer an accurate futuristic outlook for remuneration in a post-COVID-19 scenario.Get a sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/2172Scope of the Market Report: The report offers a holistic overview of the Continuous Glucose Monitoring Devices industry that offers all the essential information.
Along with this, the report extensively studies the competitive landscape in the market and profiles the key players of the industry.The report covers extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies.
The Global Continuous Glucose Monitoring Devices Market report encompasses vital information about the Continuous Glucose Monitoring Devices market that offers valuable insights about the dynamics of the Continuous Glucose Monitoring Devices market to the readers and businesses.
The report presents key statistical data about the Continuous Glucose Monitoring Devices market for the forecast timeline of 2020-2027, covering historical analysis, demands and supply dynamics, current and emerging trends, and revenue estimations.
The report consists of total market insight based on the company, major countries, and applications and types in the competitive market.
The report strives to provide an accurate estimation of the market trends for the Continuous Glucose Monitoring Devices market from the year 2020 to the year 2027.
The research report consists of a complete market analysis, including financial standing, revenue estimation, limitations, and dynamics that might affect the market.The report is generated according to the latest economic landscape in tune with the COVID-19 crisis.
The pandemic has affected the global economic scenario, and the report provides details about its impact on the overall industry.
The Global Continuous Glucose Monitoring Devices Market report encompasses vital information about the Continuous Glucose Monitoring Devices market that offers valuable insights about the dynamics of the Continuous Glucose Monitoring Devices market to the readers and businesses.
The report presents key statistical data about the Continuous Glucose Monitoring Devices market for the forecast timeline of 2020-2027, covering historical analysis, demands and supply dynamics, current and emerging trends, and revenue estimations.
The report consists of total market insight based on the company, major countries, and applications and types in the competitive market.
The report strives to provide an accurate estimation of the market trends for the Continuous Glucose Monitoring Devices market from the year 2020 to the year 2027.
The research report consists of a complete market analysis, including financial standing, revenue estimation, limitations, and dynamics that might affect the market.The report is generated according to the latest economic landscape in tune with the COVID-19 crisis.
The pandemic has affected the global economic scenario, and the report provides details about its impact on the overall industry.
