The global continuous glucose monitoring (CGM) device market is set for substantial growth, with its valuation projected to increase from US$ 4.9 billion in 2022 to US$ 16.8 billion by 2033, according to a newly released industry analysis report by Future Market Insights. This represents a compound annual growth rate (CAGR) of 11.9% over the forecast period. The growing prevalence of diabetes, rising demand for real-time glucose monitoring, and advancements in wearable sensor technology are key factors driving market expansion.
The sensor component is expected to be the most significant revenue-generating segment, accounting for a CAGR of 11.6% from 2023 to 2033. Continuous glucose monitoring sensors offer real-time, accurate data on glucose levels, enabling diabetic patients to manage their health more effectively. These devices reduce the need for frequent finger-prick tests, offering convenience and better disease management, which has led to their increased adoption among patients and healthcare providers.
The demand for non-invasive, user-friendly, and AI-integrated glucose monitoring systems is accelerating the development of next-generation CGM devices. Continuous improvements in sensor technology, including longer wear times, smaller sizes, and greater accuracy, are fostering the adoption of these devices. Moreover, increased integration of CGM devices with mobile health (mHealth) apps and wearable devices is enhancing patient engagement and enabling remote monitoring by healthcare providers.
The CGM device market is expected to witness sustained growth as diabetes management becomes more patient-centric and technology-driven. With innovations in wearable technology and the rising adoption of digital health solutions, CGM device manufacturers are well-positioned to capitalize on the growing demand for continuous, real-time monitoring tools.
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Key Takeaways:
- The global continuous glucose monitoring (CGM) device market is forecasted to grow from US$ 4.9 billion in 2022 to US$ 16.8 billion by 2033, with a CAGR of 11.9% over the forecast period.
- The sensor component is projected to be the highest revenue-generating segment, with a CAGR of 11.6% from 2023 to 2033.
- Growth is driven by the rising prevalence of diabetes, increased demand for non-invasive monitoring, and advancements in sensor technology.
- Technological innovations in wearable devices and AI-driven health tracking solutions are expected to fuel the demand for CGM devices.
- The growing use of mHealth apps and remote patient monitoring solutions is expected to create lucrative opportunities for CGM device manufacturers, healthcare providers, and digital health startups.
Competitive Analysis
The Continuous Glucose Monitoring Device Market is highly competitive, with a handful of companies holding a significant share. The key players in the market include A. Menarini Diagnostics, Echo Therapeutics, Inc., Abbott Laboratories, Bayer AG, Dexcom, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, GlySens Incorporated, Insulet Corporation, Johnson & Johnson, LifeScan, Medtronic plc, Medtrum Technologies, Inc., Microchip Technology Inc., Micron Technology Inc., Nemaura Medical, Inc., Novo Nordisk, NXP Semiconductors, Qualcomm, Roche Diagnostics, Senseonics Holdings, Inc., STMicroelectronics, and Tandem Diabetes Care.
Some of the recent developments of key players in the Continuous Glucose Monitoring Device Market are as follows:
- In June 2020, Menarini Diagnostics released GlucoMen Day CGM, a unique digital patch that monitors blood glucose and displays findings immediately on a smartphone. It may be worn for fourteen days continuously.
- In February 2020, for seamless diabetes management, Abbott and Insulet collaborated to integrate next-generation glucose sensors and automated insulin delivery technology. The continuous glucose monitoring (CGM) technology of Abbott will be combined with Insulet’s OMillionipod Horizon Automated Insulin Delivery System to create an accurate, user-friendly, and integrated digital health platform. ?
- In January 2020, Tandem Diabetes Care announced the launch of the t:slim X2 Insulin Pump with Control-IQ Technology. Dexcom G6 continuous glucose monitoring is built into the system.
Similarly, recent developments related to companies offering Continuous Glucose Monitoring Device Market have been tracked by the team at Future Market Insights, which are available in the full report.
Market Segments Covered in Continuous Glucose Monitoring Device Industry Analysis
By Component:
- Transmitters
- Sensors
- Receivers
By End-Use:
- Hospitals
- Home Care
- Other End-uses
By Region:
- North America
- USA
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- Spain
- United kingdom
- Italy
- France
- Netherlands
- Belgium
- Austria
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Malaysia
- Indonesia
- Thailand
- Philippines
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- Israel
- Rest of MEA
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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