Continuous Glucose Monitoring Systems Market size was valued at USD 8.8 billion in 2023. The Continuous Glucose Monitoring Systems Market industry is projected to grow from USD 10.0 Billion in 2024 to USD 25.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.34% during the forecast period (2024 - 2032).
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The increasing prevalence of diabetes worldwide stands out as a prominent driver fueling the growth of the Continuous Glucose Monitoring Systems Market. Diabetes has reached epidemic proportions, with a staggering rise in the number of affected individuals globally. According to the International Diabetes Federation (IDF), in 2021, approximately 537 million people worldwide were living with diabetes, and this number is expected to soar to 643 million by 2030. Similarly, according to the American Diabetes Association, diabetes affected 38.4 million Americans, or 11.6% of the population, in 2021. Type 1 diabetes affects around 2.0 million Americans, including approximately 304,000 children and adolescents. The escalating incidence of diabetes is attributed to various factors, including sedentary lifestyles, unhealthy dietary habits, and the aging population. As the diabetic population continues to grow, the demand for effective diabetes management solutions becomes more pressing. Continuous glucose monitoring systems play a pivotal role in providing real-time insights into blood glucose levels, enabling patients and healthcare professionals to make timely and informed decisions regarding treatment and lifestyle adjustments. The ability of continuous glucose monitoring systems to offer continuous monitoring, early detection of fluctuations, and personalized insights aligns with the evolving needs of the expanding diabetic population.
The Continuous Glucose Monitoring Systems Market Segmentation, based on product, includes sensors and transmitter and receivers. The sensor segment held the majority share in 2023 of the Continuous Glucose Monitoring Systems Market revenue. This is due to strategic initiatives, including both organic and inorganic, taken by manufacturers across the globe in order to fulfill customer needs.
June 2022: Senseonics Holdings, Inc. (US) received an approval by U.S. Food and Drug Administration for next-generation Eversense E3 CGM System. Eversense E3 is embedded with proprietary sacrificial boronic acid (SBA) technology in order to extend the device's six-month longevity and is being commercialized by Ascensia Diabetes Care (US), Senseonics' global commercial partner. Eversense E3 offers a fully implantable third-generation sensor, industry-leading 6-month sensor wear duration, and a removable smart transmitter.
The Continuous Glucose Monitoring Systems Market Segmentation is based on application that include type 2 diabetes, type 1 diabetes, and non-diabetic patients. Type 1 diabetes segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the growing prevalence of type 1 diabetes also, these devices have become smaller, more accurate, faster, and more user-friendly.
Figure 2: Continuous Glucose Monitoring Systems Market Size, By Application, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Continuous Glucose Monitoring Systems Market Segmentation is based on end user that include hospitals & clinic, homecare settings, and Others. Homecare settings segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the adoption in homecare settings has increased since 2020 due to COVID-19. The leading manufacturers started to develop such devices to fulfill the demand of remote patients monitoring. In addition, the growing geriatric population is also increasing the need for CGM devices in developing regions.
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Continuous Glucose Monitoring Systems market accounted for the largest market share in 2023. This is due to the robust technological infrastructure, and well-established regulatory framework is expected to drive the market.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Continuous Glucose Monitoring Systems Market Size, By Region 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Continuous Glucose Monitoring Systems market accounts for the second-largest market share due to increasing prevalence of diabetes in the region, and advancements in CGM technology. further, France Continuous Glucose Monitoring Systems market was attributed to hold the largest market share, and the Rest of Europe Continuous Glucose Monitoring Systems market is expected to fastest-growing market in the European region.
The Asia-Pacific Continuous Glucose Monitoring Systems market is expected to grow at a significant share from 2023 to 2032. This is due to increasing awareness about diabetes management and a rising prevalence of diabetes in the region. Moreover, China Continuous Glucose Monitoring Systems market is expected to hold the largest market share, and India Continuous Glucose Monitoring Systems market is expected fastest-growing market in the Asia-Pacific region.
The Rest of the World is segmented into the Middle East & Africa, and Latin America. The Continuous Glucose Monitoring Systems market in the above-mentioned regions is likely to witness growth due to rising prevalence of diabetes, coupled with the increasing awareness about advanced glucose monitoring systems which drives the growth of market.
The Continuous Glucose Monitoring Systems Market is characterized by the presence of many global, regional, and local vendors. Developments in the healthcare industry and growing research and development make the continuous glucose monitoring systems market lucrative. To expand their reach and optimize their operational costs, the major players focus on obtaining regulatory authorizations from government agencies for their products and emphasize acquisitions and product launches to gain a substantial market share. The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reached across the globe with diverse product portfolios. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.
Dexcom Inc (Dexcom) is a company that designs, develops, and markets these devices. The integrated Dexcom G6 CGM system, the Dexcom Share remote monitoring system, the Dexcom Real-Time API, the Dexcom ONE CGM system, related software, and mobile apps are among the company's top offerings. In addition to other support services, it offers CGM system users training on Dexcom Care. The business supplies endocrinologists, doctors, diabetes educators, and other healthcare professionals with its products. In addition to direct product distribution in the US, Austria, Canada, Germany, Switzerland, and the UK, it also maintains a network of distributors in Australia, the US, New Zealand, and other countries in the Middle East, Asia, Europe, and Africa.
March 2023: Abbott announced that the US Food and Drug Administration (FDA) has approved its FreeStyle Libre 2 and FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) system sensors for use with automated insulin delivery (AID) systems. Abbott modified the sensors to allow for integration with AID systems.
May 2020: Medt Medtronic announced FDA approval for a new version of the Guardian Connect system. This updated version includes customisable alert volumes, day and nighttime personalised alerts, and expanded access for Android mobile device users.
Rest of the World
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 8.8 billion |
| Market Size 2024 | USD 10.0 billion |
| Market Size 2032 | USD 25.8 billion |
| Compound Annual Growth Rate (CAGR) | 12.34% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2019 to 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Component, Application and End User |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea. |
| Key Companies Profiled | Dexcom, Inc (US), A.Menarini Diagnostics SRL (Italy), Sensonics (US), Medtrum Technologies Inc. (China), Nemaura Medical Inc. (US), Ultrahuman Healthcare Pvt Ltd (India), Medtronic (Ireland), One Drop (US), Abbott Laboratories, Inc. (US), and Sinocare (China) |
| Key Market Opportunities | · Growing technological advancements and innovation |
| Key Market Dynamics | · Increasing prevalence of diabetes· Rising awareness among individuals about the benefits of continuous glucose monitoring and patient education· Rising geriatric population |
Frequently Asked Questions (FAQ) :
The Continuous Glucose Monitoring Systems Market is anticipated to reach 25.8 billion at a CAGR of 12.34% during the forecast period of 2024-2032.
The US held over 65.54% share of the North America market for the Continuous Glucose Monitoring Systems market during the forecast period of 2024-2032.
The Continuous Glucose Monitoring Systems market is expected to grow 12.34% CAGR during the forecast period from 2024 to 2032.
The North America region market held the largest market share in the Continuous Glucose Monitoring Systems market.
The key players include Dexcom, Inc (US), A.Menarini Diagnostics SRL (Italy), Sensonics (US), Medtrum Technologies Inc. (China), Nemaura Medical Inc. (US), Ultrahuman Healthcare Pvt Ltd (India), Medtronic (Ireland), One Drop (US), Abbott Laboratories, Inc. (US), and Sinocare (China).
The sensor segment was estimated to lead the continuous glucose monitoring systems market.
The homecare settings segment is attributed to having the largest market share based on end user.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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