Market Overview:
The Continuous Blood Glucose Monitoring Market size is expected to grow from USD 7,221.7 Million in 2022 to USD 15,604.63 Million by 2030, at a CAGR of 10.11% during the forecast period.
This market covers the creation, manufacturing, and delivery of continuous glucose monitoring (CGM) devices, which are used by diabetics to track their blood sugar levels in real time. The components of a CGM system are a tiny sensor that is implanted under the skin to monitor the interstitial fluid's glucose levels, a transmitter that transmits the data to a receiver or smart device, and software that interprets and shows the glucose data. The rising incidence of diabetes, the increased understanding of diabetes care, and the advantages of continuous glucose monitoring (CGM) systems in terms of continuous, real-time data that improves glycemic control and lowers the risk of complications from diabetes are the main drivers of this industry. Advancements in CGM technology, including enhanced sensor precision, prolonged sensor longevity, and amalgamation with insulin pumps and mobile
The Major Players Covered in this Report:
Abbott (U.S.),ACON Laboratories (US),ARKRAY (Japan),Ascensia Diabetes Care Holdings AG (Switzerland),B. Braun Melsungen AG (Germany),Beta Bionics, Inc. (US),Dexcom, Inc. (U.S.),Echo Therapeutics Inc. (US),F. Hoffmann-La Roche Ltd (Switzerland),GlySens Incorporated (US),Integrity Applications Inc.,LifeScan IP Holdings, LLC (U.S.),Medisana AG (Germany),Medtronic (Ireland),Metronom Health Inc. (US),Nipro (Japan),Nova Biomedical (US),OrSense Ltd. (Israel),PKvitality (France),Prodigy Diabetes Care (US),Sanofi (France),Senseonics (U.S.),Siren Care, Inc. (US),Terumo Corporation (Japan),Ypsomed (Switzerland), and other major players.
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Segmentation of the Continuous Blood Glucose Monitoring Market
By Product
- Receivers
- Sensors
- Insulin Pump
By Testing Site
- Fingertip testing
- Alternate Site Testing
By End-User
- Home Care
- Diagnostics Centres
- Hospitals
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Market Dynamics and Factors Influencing Growth:
Market Driver:
Patient Convenience and Quality of Life:
CGM systems offer continuous, real-time glucose monitoring, which provides better glycemic control and reduces the frequency of finger-prick tests, enhancing patient convenience and quality of life.
Regulatory Approvals and Support:
Regulatory bodies worldwide are increasingly approving advanced CGM devices, which helps in their widespread adoption. Supportive policies and guidelines also encourage market expansion.
Market Opportunity:
Technical Limitations:
Despite advancements, issues such as sensor accuracy, calibration needs, and device malfunctions can hinder user experience and trust in CGM systems.
Data Privacy Concerns:
The increasing integration of CGM systems with mobile apps and cloud services raises concerns about data security and patient privacy.
Key Industry Developments in the Continuous Blood Glucose Monitoring Market
- In March 2023, Abbott is thrilled to announce the U.S. FDA has approved our FreeStyle Libre 2 and FreeStyle Libre 3 integrated Continuous Glucose Monitoring (CGM) sensors to be seamlessly integrated with automated insulin delivery systems. This milestone marks a significant advancement in diabetes care, empowering patients with enhanced control and convenience. Abbott remains committed to innovation in diabetes management.
- In September 2023, Nemaura Medical Inc. announced its strategic partnership with Eversana for the introduction of Nemaura's cutting-edge diabetes management system in the United States. This collaboration promises to revolutionize diabetes care, providing innovative solutions to patients nationwide. Together, we are committed to improving the lives of those living with diabetes.
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