Continuous Glucose Monitoring Market Analysis And Growth Forecast 2024-2032

Global Continuous Glucose Monitoring Market Analysis
 
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
 
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.
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.
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.
 
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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:
Sensors
Transmitters
Receivers
By End-User:
Hospitals
Homecare Settings
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
 
Dexcom Inc.
Ypsomed AG
Abbott Laboratories
Senseonics Holdings, Inc.
Nemaura Medical, Inc.
Medtronic, Inc.
Tandem Diabetes Care
Nova Biomedical
 

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