According to a report by Reports and Data, the Continuous Glucose Monitoring devices market was valued at USD 5.23 billion in 2021 and is estimated to reach USD 19.04 billion in 2028, growing at a CAGR of 12.53%. Estimating and identifying appropriate blood glucose level in patients through continuous glucose monitoring (CGM) devices is a vital component of therapy success. Continuous glucose monitoring evolved from enzyme-based electrochemical glucose sensors. It is an instrument with a small sensor attached with a transmitter for daily diabetes management. The Continuous Glucose Monitoring devices aid in better diabetes management by proactively tracking glucose level fluctuations in interstitial fluid as a basis for improving metabolic control. CGM devices help in reducing the risk of hyperglycemia & hypoglycemia.
The global spread of diabetes along with increasing geriatric population and continuous technological advancements have propelled the market growth of the CGM devices. According to the WHO, Diabetes is increasing at an alarming rate in the United States, and nearly 30.3 million people, or 9.4% of the U.S. population, have diabetes. An estimated 23.1 million people - or 7.2% of the population - had diagnosed diabetes. North America accounts for the largest share in the global continuous glucose monitoring devices market due to government initiatives undertaken for prevention of diabetes and treatment support along with the presence of dominant players in this region, technological advancements in the drug discovery procedures, growing rate of obesity in the region, sedentary lifestyle and techno savvy population.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
As part of our quantitative analysis, we have provided regional market forecasts by type and application, market sales forecasts and estimates by type, application and region by 2030, and global sales and production forecasts and estimates for Continuous Glucose Monitoring Devices by 2030. For the qualitative analysis, we focused on political and regulatory scenarios, component benchmarking, technology landscape, important market topics as well as industry landscape and trends.
We have also focused on technological lead, profitability, company size, company valuation in relation to the industry and analysis of products and applications in relation to market growth and market share.
The Continuous Glucose Monitoring Devices report contains data based on rigorous primary and secondary school studies using research best practices. The report contains exhaustive information that will allow you to assess each segment of the Continuous Glucose Monitoring Devices market. This report has been prepared considering various aspects of market research and analysis. It includes market size estimates, market dynamics, and company and market best practices. Entry marketing strategy, positioning, segmentation, competitive landscape, and economic forecasts. Industry-specific technology solutions, roadmap analysis, alignment with key purchasing criteria, in-depth benchmarking of vendor products
Key Players covered in this report are:
Dexcom, Abbott Laboratories, Pfizer Inc., Inc. Baxter International, Menarini Diagnostics, Johnson & Johnson, Medtronic PLC, Animas Corporation, and Novo Nordisk A/S, ARKRAY, Inc., Bayer AG, Terumo Medical Corporation, Echo Therapeutics, Inc.; Medtronic PLC; F. Hoffmann-La Roche Ltd., GlySens Incorporated
Component Outlook (Revenue, USD Billion; 2019-2030)
- Insulin Pumps
- Transmitters & Receivers
- Sensors
Application Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Diagnostics
- Home Settings
Geographic Segment Covered in the Report:
• North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)
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