Continuous glucose monitoring (CGM) devices are the latest advancement in the diabetes monitoring devices market, in which a sensor is linked to the CGM device and is placed on the patient’s skin. The device measures glucose levels in the interstitial fluid at frequent intervals and provides data which is captured via a transmitter to the receiver. These newer devices are projected to show positive market growth in the forecast period, 2021-2029 owing to presence of factors such as increasing diabetic population, rise in technological development focusing on smart connectivity options thus providing remote monitoring by the physicians, rising demand for patient specific treatment approaches and continuous developing reimbursement scenario.

The current report provides analytical insights and complete understanding of the present and upcoming CGM devices market scenario. It includes market evaluation and forecast analysis for 2019-2029. Furthermore, a complete dissected-evaluation of the CGM devices market by segmenting the market based on components, application and diverse geographies has been incorporated. 

The global CGM devices market is bifurcated based on the components consisted in the device and application. The components are sub-segmented into sensors, transmitters & receivers and insulin pumps. CGM devices are predominantly used by diabetic patients and their use in healthy individuals has currently begun as a preventive care option. Application is thus sub-segmented into diabetic patients and healthy individuals.

Market estimation and forecast analysis for the aforementioned segments are provided for the time span from 2019-2029 and valued as US$ Mn. Additionally, the respective compound annual growth rates (CAGRs) for each of the segments has also been included for the time scale 2021-2029, by keeping its base year as 2020.

The CGM devices market is also evaluated based on various geographies viz., North America, Europe, Asia Pacific, Latin America & Middle East and Africa. These geographical regions are further sub segmented into United States, Canada, United Kingdom, Germany, China, Japan, Brazil, Mexico, Saudi Arabia, and South Africa. Market estimation and forecast analysis for the above mentioned geographies for the period 2019-2029 and respective growth rates for the duration 2021-2029 has been included in the current report.

The CGM devices market is dominated by several large and medium-scale companies rendering this market highly competitive. There lies a great opportunity for the newer key players with advanced and developed glucose monitoring devices with minimal invasion. The key industries in the CGM devices market are Abbott Laboratories, Echo Therapeutics, Inc., Dexcom, Inc., GlySens Incorporated, Medtronic plc, Senseonics Holdings, Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., AgaMatrix, Inc., Glucovation, GlySure, Arkray USA, Inc., OrSense, Tandem Diabetes Care & Pinnacle Technology.

Continuous glucose monitoring (CGM) devices enable continuous monitoring of the blood glucose levels with provision of trend analysis thus rendering patient centric care. CGM devices are majorly utilized by diabetic populations to monitor the blood glucose levels, thus capturing a major market share in the overall diabetes care market. Healthy individuals have recently begun to use CGM devices to enhance lifestyle patterns and monitor sugar levels as preventive care, seizing a smaller market share. Type 1 diabetes is an autoimmune condition where external insulin is required to maintain the glucose level; whereas in case of Type 2 diabetes, the body is resistant to insulin, thus leading to high glucose levels. This condition is maintained by oral medications and in very rare cases require insulin therapy. The requirement of continuous monitoring of sugar levels in order to inject an appropriate dose of insulin amongst type 1 diabetes patients is the major factor for this segment to encapsulate a larger market share.

Continuous glucose monitoring (CGM) devices enable continuous mapping of the blood glucose levels with provision of trend analysis thus facilitating patient centric care. For the purpose of this study, the global CGM devices market is segmented on the basis components utilized viz., sensors, transmitters and receivers, and insulin pumps. Among the aforementioned components, the transmitters & receivers predominate the CGM devices market in the base year 2020 owing to their higher costs. However, this trend is expected to change in the forecast period, wherein insulin pumps will have a higher contribution to the CGM devices market as the new technological developments have begun to fuse insulin pumps with CGM technology. Sensors are a constitutive part of the CGM system, where its sensitivity is essential to acquire accurate glucose levels in the interstitial fluids, and thus need to be replaced periodically to maintain accuracy. The contribution of the sensor segment is also projected to rise at a higher growth rate in the forecast period, owing to development of more sensitive technologies and rise in demand for CGM devices.

Among the considered geographies, North America lined up by Europe accounts for major share in the continuous glucose monitoring devices market due to rise in developed healthcare infrastructure with improving reimbursement policies, drive towards attaining a patient-centric healthcare approach and technological advancements in healthcare monitoring. The approval of Abbott’s FreeStyle Libre device, Dexcom’s G4 & G5 and Medtronic’s Enlite & Enlite 2 in North America and Europe will propel the growth of continuous glucose monitoring devices market in these regions. Rising prevalence of diabetes in emerging economies such as India, China, Latin America and Middle East & Africa is expected to fuel the global growth of CGM devices market. However, high pricing of CGM devices, discomfort observed among patients using CGM devices and insufficient existence of healthcare IT products and services may have an negative impact on the CGM devices market the developing economies.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Continuous Glucose Monitoring Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Continuous Glucose Monitoring Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Continuous Glucose Monitoring Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Continuous Glucose Monitoring Devices market?
• Which is the largest regional market for Continuous Glucose Monitoring Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Continuous Glucose Monitoring Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Continuous Glucose Monitoring Devices market worldwide?