New York, NY, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Continuous Glucose Monitoring Device Market Share, Size, Trends, Industry Analysis Report, By Component Type (Transmitters & Receivers, Sensors, and Insulin Pumps); By End-Use; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global continuous glucose monitoring device market size/share will be valued at roughly USD 7,190.49 Million in 2022, and its revenue is projected to reach about USD 54,735.48 Million By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 21.8% between 2023 and 2032.”
What are Continuous Glucose Monitoring Devices? How Big is Continuous Glucose Monitoring Devices Market Size & Share?
- Overview
Blood glucose is another term for blood sugar. Wearable technology called continuous glucose monitoring makes it simple to track your blood sugar levels over time. It is a progressive method for people with diabetes to monitor glucose levels in real time over time. Also, using a constant glucose monitor, your CGM device will automatically get glucose levels every few minutes letting you fingerstick less often.
The demand for continuous glucose monitoring device market is increasing as monitoring blood sugar levels can determine how much and when the body requires insulin. Blood sugar levels that fluctuate a lot might harm your health in various ways. If untreated, extremely high or low blood sugar levels can be dangerous and even fatal.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- 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
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Prominent Growth Driving Factors
- Technological Advancements: The market for continuous glucose monitoring devices is expanding due to technological developments. These developments have produced CGM systems that are more precise and simple to use, which has enhanced the entire experience for people with diabetes. Due to miniaturization and sensor advancements, smaller, more comfortable devices have increased patient compliance.
- Enhanced functionality and accessibility: The functionality and accessibility of CGM gadgets have been further improved by the incorporation of wireless connectivity and smartphone applications, enabling patients to access their glucose levels, communicate information, and receive alarms from healthcare experts with ease. These developments have helped people with diabetes achieve better glycemic control and health outcomes.
- Increased prevalence of diabetes: The continuous glucose monitoring device market demand is driven by the rising prevalence of diabetes. CGM is becoming increasingly important to manage the disease as the number of people with diabetes rises adequately. Real-time glucose data from these devices allow users to make educated decisions regarding nutrition, lifestyle, and medicine, which improves diabetes control.
Top Findings of the Report
- The CGM devices market is expanding significantly due to technological developments and increased diabetes occurrences. People with diabetes frequently use these devices to control their condition. Also, these systems deliver real-time data on blood glucose levels, providing insights into glucose variation patterns in contrast to conventional self-monitoring devices.
- The continuous glucose monitoring device market segmentation is mainly based on end-use, component type, and region.
- North America will dominate the market during the forecast period.
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Top Trends Influencing the Market
- Valuable tools of diabetes management: CGM devices have proven useful tools for managing diabetes, empowering users to choose their diet, medication, and lifestyle. Improvements in glycemic control and general health outcomes are made possible by the continuous and real-time monitoring of glucose levels.
- Investments in research and developments: Manufacturers invest in R&D to bring new gadgets with smaller form factors, longer wear duration, and increased connection functions to the market. These advancements will propel continuous glucose monitoring device market growth even more. Also, CGM device technology advances have enhanced wearability, accuracy, and connectivity.
Segmental Analysis
- The Sensor Sector Witnesses Significant Growth
The sensor sector is expected to develop significantly throughout the forecast period, owing to technical advancements that enable more accurate monitoring and sensors' relatively short lifespan. Furthermore, greater bulk buying of sensors due to their short lifespan will likely raise the continuous glucose monitoring device market share even further.
Moreover, transmitters serve as bridges between sensors and receivers. They wirelessly send data to the recipient using radio waves. Some transmitters may be recharged, while others must be replaced every few months. On the other hand, receivers receive the transmitted data and show the continuous glucose level readings, allowing users to monitor and comprehend variations in their glucose levels.
- The Homecare Diagnostics Sector Dominates the Market
Homecare diagnostics has appeared as the largest sector and is predicted to maintain its dominance throughout the forecast period. This can be attributed to growing awareness, ease of use, convenience, and increasing disposable income.
Moreover, the healthcare sector is also anticipated to increase significantly during the forecasted period. Government investments in healthcare infrastructure in emerging and developed countries are primarily responsible for the increasing continuous glucose monitoring device market size.
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Continuous Glucose Monitoring Devices Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 54,735.48 Million |
| Market size value in 2023 | USD 9,277.17 Million |
| Expected CAGR Growth | 21.8% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | 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 |
| Segments Covered | By Component Type, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographical Overview
North America: North American region has many diabetic patients, with 34.2 million people (10.5% of the population) suffering from the disease in the United States alone. An unhealthy diet, rising obesity rates, and government measures are projected to boost the region's demand for continuous glucose monitoring devices.
Asia Pacific: It is predicted that the continuous glucose monitoring device market in Asia Pacific to grow significantly. The region is seeing an increase in diabetes cases, boosting the adoption of continuous monitoring equipment. Furthermore, this tendency is projected to be aided by expanding economies, rising healthcare expenditures, and the entry of major regional corporations.
Browse the Detail Report “Continuous Glucose Monitoring Device Market Share, Size, Trends, Industry Analysis Report, By Component Type (Transmitters & Receivers, Sensors, and Insulin Pumps); By End-Use; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/continuous-glucose-monitoring-market
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Recent Developments
- Menarini Diagnostics will launch GlucoMen Day CGM in June 2020, a revolutionary digital patch that analyzes blood glucose and wirelessly shows smartphone results for fourteen days.
- The Centers for Medicare & Medicaid Services (CMS) in the United States expanded Medicare coverage to include all CGMs, including those integrated with Medtronic insulin pumps, in December 2021, with effect in February 2022.
The Report Answers Questions Such As
- How much is the continuous glucose monitoring device market estimated to be worth during the forecast period?
- What are the growth factors driving the market?
- Which region will lead the market for glucose monitoring devices?
- Which are the major players operating in the glucose monitoring device market?
- What are the key trends shaping the market?
- Which segment holds the largest market share?
- According to the report, what is the forecast period of the continuous glucose monitoring device market?
Polaris Market Research has segmented the continuous glucose monitoring device market report based on component type, end-use, and region:
By Component Type Outlook
- Transmitters & Receivers
- Sensors
- Insulin Pumps
By End-Use Outlook
- Hospitals
- Homecare Diagnostics
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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