The global continuous glucose monitoring (CGM) systems market, valued at US$ 11.1 billion in 2023, is projected to expand significantly, reaching an impressive US$ 103.5 billion by 2033. This growth reflects a robust compound annual growth rate (CAGR) of 25.1% over the forecast period, propelled by an increasing incidence of diabetes and a rising need for real-time blood glucose monitoring.
With diabetes cases escalating globally, the demand for continuous glucose monitoring systems has surged. These advanced systems provide 24/7, real-time tracking of blood glucose levels, offering more accurate and comprehensive monitoring than traditional fingerstick methods. This accuracy and constant monitoring capability make CGM systems invaluable for both patients and healthcare providers, as they provide critical data to manage diabetes effectively.
Adoption of CGM systems is on the rise, thanks to the swift response and precision of their advanced sensors. Patients and healthcare experts are increasingly turning to CGM technology to obtain reliable, user-friendly solutions that enhance diabetes management. Additionally, ongoing technological advancements are pushing the boundaries of CGM systems, with manufacturers focused on enhancing system reliability, ease of use, and patient comfort, further fueling market growth.
Continuous glucose monitoring systems are improving patient outcomes by reducing the risk of complications and providing better diabetes management. These systems are more convenient and comfortable to manage diabetes integrated with insulin delivery systems. Continuous glucose monitoring systems are adjusted automatically with their seamless control of blood sugar levels.
The growing reimbursement policies to develop high-quality and advanced technologies and continuous glucose monitoring systems are advancing the global market size. Increasing patient awareness and an aging population are surging the demand for CGM systems for better outcomes. The adoption of telemedicine solutions and the integration of artificial intelligence in these systems are flourishing in the global market.
Key Highlights
- According to a report by the International Diabetes Federation, around 32.2 million people have diabetes in the United States.
- The growing advanced technologies are developing more effective and cost-effective continuous glucose monitoring patches to read glucose levels.
- Continuous glucose monitoring device helps to manage diabetes Type 1 and Type 2 patients send details to your transmitter, such as a smartphone.
Competitive Landscape in the Continuous Glucose Monitoring Systems Market
The present key players fragment the global market. These players are making their efforts to offer high-quality healthcare devices to relief patients. They are investing huge amounts in research and development activities to develop innovative products to satisfy patients’ requirements. Key players are contributing their role in upsurging the global market to another height.
These players are adopting marketing strategies such as mergers, agreements, acquisitions, and partnerships to collect huge revenue in the market. Healthcare manufacturers are focused on sustainability to reduce environmental impacts. These players are likely to lift the global market upward through their innovations and product launches in the coming years.
Key Players in the Continuous Glucose Monitoring Systems Market
- Herbalife Nutrition
- GNC Holdings
- NOW Health
- Nutramax Laboratories
- Nature’s Bounty
- Banyan Botanicals
- Source Naturals
- Nutramarks Inc
- Nature’s Way Products
- Abbott
- Natural Immunogenics
- Solaray Inc.
- Sambucol USA
- Quantum Health, Inc.
- Vitabiotics Ltd.
- Rainbow Light
- AdvoCare
- Pure Encapsulations, LLC.
- Country Life, LLC
- Natural Health Concept
Recent Developments in the Continuous Glucose Monitoring Systems Market
- In 2020, Abbott announced its newly launched product FREESTYLE LIBRE. It is a real-time monitoring device that helps to monitor and update blood glucose levels.
- In 2021, Smart Meter announced its new glucose monitor device to monitor gestational diabetes.
- In 2022, Nemaura Medical Inc. announced its new agreement with EVERSANA. This agreement took place to increase the company’s portfolio in the United States.
- In 2022, the United States FDA approved Abbott’s patient monitoring devices. The approval of Free Style Libre 3 device enhance the company’s strong image.
- In 2022, Senseonics Holdings Inc. announced its collaboration with Nurse Practitioner Group. This collaboration took to provide at-home services in the United States.
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Key Segments in the Continuous Glucose Monitoring Systems Market
By Components:
- Transmitters and Monitors
- Sensors
- Insulin Pump
By End-use Sector:
- Home Care Diagnostics
- Hospitals
- ICU/Critical Care
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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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