The continuous blood glucose monitoring market has witnessed rapid growth in recent years, with its size escalating from $8.09 billion in 2023 to $9.68 billion in 2024, showcasing a compound annual growth rate (CAGR) of 19.7%. This growth is attributed to various factors including the increasing prevalence of diabetes, heightened patient demand for enhanced management tools, regulatory approvals, favorable reimbursement policies, and recommendations from healthcare providers advocating for a personalized medicine approach. Looking ahead, the continuous blood glucose monitoring market is anticipated to experience exponential growth, projected to reach $20.44 billion in 2028, with a CAGR of 20.5%. This growth in the forecast period is expected to be fueled by the integration of artificial intelligence, a heightened focus on remote patient monitoring, the expansion of wearable technology, a growing emphasis on prevention and early intervention, and a shift towards value-based care models. Notable trends expected to shape the market include the continued growth of continuous glucose monitoring (CGM) systems, advancements in sensor technology, the expansion of non-invasive monitoring technologies, increased focus on data connectivity and interoperability, as well as collaborations and partnerships within the industry.
Major Driver In The Continuous Blood Glucose Monitoring Market
The rise in diabetes prevalence is anticipated to drive the continuous blood glucose monitoring market's growth trajectory. Diabetes, characterized by fluctuating blood glucose levels, necessitates vigilant monitoring for effective management. Continuous blood glucose monitoring devices play a crucial role in detecting trends and patterns, providing comprehensive insights into a diabetic individual's health status. Notably, the International Diabetes Federation reported approximately 537 million adults affected by diabetes in 2021. This escalating prevalence underscores the imperative for robust monitoring solutions, thereby fueling the continuous blood glucose monitoring market's expansion, with market sizes projected at $3.51 billion in 2023, $5.69 billion in 2024, and $8.75 billion in 2028.
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Continuous Blood Glucose Monitoring Market Competitive Landscape
Roche, LifeScan Inc., Medtronic, Abbott, GlySens Inc., Arkray, Senseonics Holdings Inc., GlySure limited, Nemaura, Tandem Diabetes Care, AgaMatrix Inc., Ypsomed Holding AG, Orsense ltd, DexCom Inc., Echo Therapeutics Inc.
Key Continuous Blood Glucose Monitoring Market Trend
Technological advancements have emerged as a key trend gaining popularity in the continuous blood glucose monitoring market. Major companies operating in the continuous blood glucose monitoring market are focused on developing advanced technological solutions to strengthen their position in the market. For instance, in February 2024, DexCom Inc., a US-based provider of continuous glucose monitoring systems for diabetes management, launched dexcom one+, a continuous glucose monitoring solution. It is a customizable system that can be worn at three different locations on the body and allows for real-time monitoring of blood glucose by both the user and up to ten additional people. The system includes a water-resistant sensor, a transmitter, and a smartphone app.
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Global Continuous Blood Glucose Monitoring Market Segmentation
The continous blood glucose monitoring market covered in this report is segmented –
1) By Component: Insulin Pumps, Sensors, Transmitters, Receivers
2) By Application: Type 1 Diabetic Patients, Type 2 Diabetic Patients, Gestational Diabetes, Critical Care Patients
3) By End User: Hospitals, Homecare Diagnostics, Other End Users
By Geography:The regions covered in the continuous blood glucose monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea,; UK, USA, Canada, Italy, Spain.
North America was the largest region in the continuous blood glucose monitoring market in 2023.
The Continuous Blood Glucose Monitoring Global Market Report 2024 furnishes information about the global continuous blood glucose monitoring market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
