What Has Been the Growth Trajectory for the Continuous Glucose Monitor System Market in Recent Years?
The continuous glucose monitor system market has seen considerable growth due to a variety of factors.
• In recent times, there's been an exponential growth in the market size of the continuous glucose monitor (CGM) system. It's projected that it will increase from $8.83 billion in 2024 to $9.67 billion in 2025, with a compound annual growth rate (CAGR) of 15.4%.
The growth observed in the historical period can be traced to factors like a rising elderly population, enhanced understanding of diabetes management, an increase in disposable income, an uptick in research and development investment, and a surge in health care spending.
What Is The Expected Growth In The Continuous Glucose Monitor System Market Size?
The continuous glucose monitor system market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the continuous glucose monitor (CGM) system is predicted to experience speedy expansion in the forthcoming years, reaching a valuation of $17.00 billion in 2029 with a compound annual growth rate (CAGR) of 15.1%.
This growth during the forecast period can be accredited to the escalating diabetes prevalence, mounting obesity cases, rising socio-economic shifts, increasing number of clinical trials, and growing urbanization. Significant trends throughout the projected period incorporate the integration with smart gadgets, rising usage of artificial intelligence (AI), the advent of non-invasive monitoring solutions, wearables technology's growth, the emergence of telemedicine, and remote healthcare solutions.
What Factors Are Driving Growth In The Continuous Glucose Monitor System Market?
The escalating rates of diabetes are anticipated to boost the continuous glucose monitor system market's expansion in the future. The inability of the body to produce or utilize insulin effectively leads to diabetes, a chronic illness with high blood sugar levels as a key feature. The surge in diabetes can mainly be associated with factors such as increasing obesity rates, unhealthy eating habits, lack of physical activity, and an aging demographic. Continuous glucose monitoring (CGM) systems offer real-time glucose measurements, aid in diabetes management by identifying patterns and alerting users to unusual levels, and reduce the need for frequent finger pricks. For example, the National Health Service, a UK-based government department, discovered over half a million (549,000) additional individuals in England who were at risk of developing type 2 diabetes in June 2024. This increased the total number of people with non-diabetic hyperglycemia, or pre-diabetes, registered with a GP to 3,615,330, marking a significant climb from 3,065,825 in 2022, indicating a nearly 20% increase. As such, the escalating rates of diabetes are fueling the continuous glucose monitor system market's growth.
What Are The Primary Segments In The Global Continuous Glucose Monitor System Market?
The continuous glucose monitor system market covered in this report is segmented –
1) By Component: Transmitters, Receivers, Sensor
2) By Technology: Real Time Continuous Glucose Monitoring, Intermittently Scanned Continuous Glucose Monitoring
3) By Demography: Child Population, Adult Population
4) By Application: Type-1 Diabetes, Type-2 Diabetes, Gestational Diabetes
5) By End-User: Diagnostics Centers, Hospitals, Clinics, Intensive Care Unit (ICUs), Home Healthcare
Subsegments:
1) By Transmitters: Bluetooth-Enabled Transmitters, Wireless Transmitters
2) By Receivers: Dedicated Devices (CGM Receiver), Smartphone-Based Receivers, Cloud-Connected Receivers
3) By Sensor: Enzyme-Based Sensors, Non-Enzyme-Based Sensors, Electrochemical Sensors
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Which Key Trends Are Driving Changes In The Continuous Glucose Monitor System Market?
Leading companies in the continuous glucose monitor system market are prioritizing the development of sophisticated over-the-counter (OTC) continuous glucose monitors (CGMs) in an effort to enhance availability and broaden their customer base among non-prescription users. OTC CGMs are devices that enable real-time tracking of glucose levels without prescription and offer users a simple, convenient way to independently monitor their glucose levels. For example, in September 2024, Abbott Laboratories, a medical device company based in the US, rolled out Lingo in the US. This device, designed for adults who do not suffer from diabetes, allows users to monitor their glucose levels and provides valuable insights into the impact of diet and exercise on their overall health. Lingo, which can be worn for up to 14 days, underpins Abbott's attempts to penetrate the emerging consumer market targeted on prediabetes management and health, all this without the necessity of a prescription.
Who Are the Key Players in the Continuous Glucose Monitor System Market?
Major companies operating in the continuous glucose monitor system market are include:
• Abbott Corporation
• Medtronic PLC
• Murata Manufacturing Co. Ltd.
• Dexcom Inc.
• Sinocare Inc.
• Tandem Diabetes Care Inc.
• Ascensia Diabetes Care Holdings AG
• Glooko Inc.
• DarioHealth Corp.
• Menarini Diagnostics SRL
• Senseonics Holdings Inc.
• WaveForm Technologies Inc.
• Medtrum Technologies Inc.
• Biolinq Incorporated
• Ultrahuman Inc.
• GlySens Incorporated
• Glucotrack
• EOFLOW CO. LTD.
• Nemaura Medical Inc.
• Meiqi Medical Equipment
• Nipro Diagnostics UK Limited
What Is The Most Dominant Region In The Continuous Glucose Monitor System Market?
North America was the largest region in the continuous glucose monitor (CGM) system market in 2024. The regions covered in the continuous glucose monitor system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
