The continuous blood glucose monitoring industry is anticipated to witness a CAGR of 12.6% during the period 2024-2032. This growth can be attributed to the increasing demand for continuous monitoring devices worldwide.
SELBYVILLE, Del., April 29, 2024 (Globe Newswire) —
continuous glucose monitoring market size is expected to generate over USD 20 billion in revenue by 2032. The increasing prevalence of diabetes worldwide has increased the demand for continuous blood glucose monitoring.
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According to the WHO, approximately 422 million people worldwide have diabetes, the majority of whom live in low- and middle-income countries, and approximately 1.5 million people die each year directly related to diabetes. Dead. Continuous glucose monitoring (CGM) devices can monitor blood sugar levels in real time, allowing patients and healthcare providers to make timely adjustments to medications, diet, and lifestyle.
Advances in CGM technology, such as the development of smaller and more accurate sensors, enhanced connectivity capabilities, and improved data analysis capabilities, are also driving market growth. Additionally, CGM systems aid in early detection of glucose fluctuations while reducing the risk of hypoglycemic and hyperglycemic episodes. This approach to diabetes management is gaining attention from patients, caregivers, and healthcare professionals. Additionally, favorable reimbursement policies for his CGM systems in many regions have made these devices more accessible to patients.
Increased usage of CGM transmitters
The continuous blood glucose monitoring market by transmitter components segment is expected to register a notable CAGR from 2024 to 2032. Advances in technology have led to the development of more compact and user-friendly transmitters, making them increasingly attractive to patients seeking a CGM solution. Integrating wireless connectivity into the transmitter also enables seamless data transmission to compatible devices such as smartphones and smartwatches, improving the overall user experience. Advances in this field are likely to accelerate further due to the increasing adoption of his CGM systems in both clinical and home settings.
Increased adoption in diagnostic centers and clinics
The diagnostic centers and clinics segment in the continuous blood glucose monitoring market is likely to exhibit a decent development rate from 2024 to 2032. By offering her 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. These environments are staffed by trained medical professionals, ensuring proper guidance and support for patients using CGM systems, improving the overall quality of care.
Gaining higher demand in Asia Pacific
The continuous blood glucose monitoring market size in Asia Pacific is expected to register a robust CAGR from 2024 to 2032 due to the large and rapidly expanding diabetic population. Technological advances in his CGM systems to suit preferences such as smaller form factors and enhanced connectivity capabilities are driving adoption of his CGM devices across the region. Rising healthcare costs and improved access to medical technology in emerging countries are further driving regional industry expansion.
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Continuous Blood Glucose Monitoring Industry Players
Players in the continuous blood glucose monitoring market include Pinnacle technology, Lifescan, Inc., and Ascensia Diabetes Care Holdings AG. (Senseonics, Inc.), Medtronic, Nova Biomedical, Trividia Health, Universal Biosensors, i-SENS, Inc., Taidoc Technology Corporation, Abbott, Med Trust, Dexcom, Roche AG. These companies focus on strategies such as innovation, partnerships, and capacity expansion to expand their consumer base. As an example, Roche announced in March 2024 its new CGM technology featuring predictive AI to outline diabetes strategies.
Part of the report’s Table of Contents (ToC):
Chapter 2 Summary
2.1 360° Overview of Continuous Glucose Monitoring Market Industry, 2018-2032 (USD Million)
2.1.1 Business trends
2.1.2 Regional trends (in millions of USD)
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 Influence on the industry
3.2.1 Drivers of growth
3.2.1.1 The number of people suffering from diabetes is increasing worldwide
3.2.1.2 Growing demand for continuous monitoring devices worldwide
3.2.1.3 Technological advances in devices
3.2.1.4 Strengthening government efforts to raise awareness about diabetes
3.2.2 Industry pitfalls and challenges
3.2.2.1 High device-related costs
3.2.2.2 Severe regulatory scenario
3.3 Analysis of growth potential
3.3.1 By component
3.3.2 By end use
3.4 Impact analysis of the new coronavirus infection
3.5 Technical outlook
3.6 Regulatory status
3.6.1 United States
3.6.2 Europe
3.7 Porter’s analysis
3.8 PESTEL analysis
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