Continuous Glucose Monitoring Market – By Component, By End Use – Global Forecast 2024 – 2032

Continuous Glucose Monitoring Market Size

The global continuous glucose monitoring market size was estimated at USD 9.5 billion in 2023. The market is expected to grow from USD 10.9 billion in 2024 to USD 34.4 billion by 2032 at a CAGR of 15.5%.
 

Continuous glucose monitoring (CGM) is an advance diagnostic device, which is used to track blood glucose levels constantly throughout the day and night. CGM systems use a small sensor which is inserted under the skin to measure interstitial glucose levels. These sensors are technologically advanced which are connected to a transmitter that sends glucose data to a display devices, such as smartphone, smartwatch, which allows users to view their glucose levels and pattern accordingly.
 

The increasing prevalence of diabetes is the key factor driving the growth of the market. For instance, according to a report from the World Health Organization (WHO), in 2022, nearly 830 million individuals suffer from diabetes globally, whereas majority of cases are from low and middle-income countries. Additionally, in 2021 diabetes led to 1.6 million deaths with 47% occurring before the age of 70 years. Thus, this statistics highlights the growing need for effective solutions such as continuous glucose monitoring devices, which help individuals to check their glucose level in body, improve their health, and tackle the global diabetes problem.
 

Additionally, rising government initiatives to generate awareness regarding diabetes play a vital role in shaping the continuous glucose monitoring market, by raising awareness and improving access to these devices. For instance, in the U.S. the Centers for Disease Control and Prevention (CDC) has implemented various programs to tackle diabetes. The National Diabetes Prevention Program, launched in the U.S. aims to prevent or delay in type 2 diabetes. As part of this initiative, the CDC provides resource’s and information about diabetes management tools, such as CGM devices. Thus, technological innovations in CGM devices, and growing demand for continuous monitoring devices globally are fueling the creation for more effective and targeted CGM devices.
 

Continuous Glucose Monitoring Market Trends

• CGM devices are evolving with a significant technological advancements in recent years, accelerating the growth of the market. These innovations in CGM have increased the accuracy, convenience and experience of users of CGM devices, making them more attractive to both patients and healthcare providers.
   
• The improvement in sensor accurateness and longevity is the major technological advancement seen in CGM devices. For instance, Dexcom G6 CGM system, offers a 10 day sensor wear time and removes the need for fingerprint calibrations. This shows a substantial improvements over previous devices, which required a replacement every 7 days.
   
• In addition, incorporation of smart devices and data sharing resources has improved the functionality of CGM devices. Thus, many modern CGM devices transmit real-time glucose level data directly to smartphone, smartwatches, and other connected devices. This makes it more convenient for users to monitor and track their glucose levels and also share data directly to their healthcare providers.
   
• For example, the Freestyle Libre 2 system provides optional real time alarms on smartphones, alerting individuals about their glucose levels.
   
• Further, artificial intelligence in healthcare and machine learning are being integrated into CGM systems, which offers personalized insights and analytical capabilities. These technologically advanced analytics help individuals and healthcare professionals to identify patterns, can also assist them to predict the future glucose levels and trends, and accordingly help to make decisions, thus contributing to the market growth.
   

Continuous Glucose Monitoring Market Analysis

Based on component, the market is bifurcated into transmitters, sensors, and receivers. The global market is accounted for USD 9.5 billion in 2023. The sensors segment is forecasted to reach USD 17.7 billion by 2032 from USD 4.8 billion in 2023.
 

• The increasing advancement in sensor technology through its accuracy and reliability, is significantly driving the growth of the market.
   
• Modern sensors have significantly improved their accuracy, with some of the devices achieving a mean absolute relative difference (MARD) lower than 10%. For example, a study published in National Institutes of Health (NIH) in 2023 reported that Dexcom has 8.2% of MARD, whereas 9.7% of MARD in Abbott’s Freestyle Libre. This accuracy has led to the better adoption of CGM systems among the individuals.
   
• In addition to this, small sensors have made CGM devices more comfortable and less visible. For instance, the latest innovation in CGM sensors is of Dexcom G7, which is about the size of penny and can be wore under an individual’s clothing. This small size has improved the comfort for the users and has allowed sensors to last for up to 10 days for continuous use before requiring replacements.
   
• Further, many new advanced biosensors, which is estimated to reach USD 58.5 billion by 2032, can track more than glucose, this sensor can also measure ketones or lactate in individuals body. This gives a better overall picture of metabolic health and helps users to manage their diabetes more accurately. Thus, this advancement is accelerating the market growth.
   

Based on end use, the continuous glucose monitoring market is bifurcated into hospitals, home care settings, diagnostic centres and clinics, and other end users. The home care settings segment accounted for a revenue share of 81% and with revenue of USD 7.7 billion in 2023.
 

• The growing prevalence of diabetes globally, is creating a demand for effective convenient glucose monitoring solutions for home use. Advanced CGM devices helps patients by providing real time data and alerts and also track glucose levels, thus making homecare a better and easier option for the patients.
   
• New technological innovations in CGM devices has made them more accurate, comfortable and easy to use, which is encouraging more individuals to adopt them.
   
• Many CGM devices have ability to connect to smartphones and other digital devices or apps, which also makes it easier to track the data and to share it with healthcare providers.
   
• For example, Abbott Freestyle Libre 2, Dexcom G7, and Abbott Freestyle Libre 3, are designed for home use, with user guides, app support, and phone assistance to help patients.
   
• Furthermore, due to the COVID-19 pandemic the adoption of homebased healthcare solutions such as CGM devices has further increased. Since, people preferred to avoid hospital visits and limit the exposure to healthcare settings, CGM systems have become even more important for managing chronic conditions such as diabetes at home, which is contributing to the market growth.
   

The North America continuous glucose monitoring market is accounted for 4.5 billion revenues in 2023 forecasted to reach USD 16.4 billion by 2032. The U.S. dominated the North America market with the largest revenue of USD 4.3 billion in 2023.
 

• The rising incidence of chronic disorders such as diabetes is on rise in the U.S., which is accelerating the demand for the CGM devices.
   
• For instance, in 2021, as per the data from the Centers for Disease Control and Prevention (CDC), reports that approximately 38.4 million individuals in U.S. suffered from diabetes, about which 90% to 95% individuals suffered from type 2 diabetes, resulting for about 11.6% of the total global population.
   
• Additionally, despite a stringent regulatory environment, there is strong support for the approval and commercialization of innovative healthcare solutions such as CGM devices, thereby strengthening market growth.
   

Europe: Significant growth in UK continuous glucose monitoring market from 2024 to 2032
 

• The growth of market in this region is anticipated to be bolstered by the rising cases of diabetes across the UK.
   
• For instance, according to the British Diabetic Association, estimates that 5.8 million people in the UK were suffering with diabetes , additionally, nearly 1.3 million people had type 2 diabetes.
   
• Further, the growth of market in this region is anticipated to be strengthened by the UK governments commitment towards tacking diabetes via initiatives such as public health campaigns and guidelines that promoting the healthier lifestyle, thus propelling industry expansion.
   

Asia pacific: Japan continuous glucose monitoring market is poised for substantial growth between 2024 and 2032
 

• The rising incidence of diabetes in Japan is accelerating the market growth. For instance, according to the report from Internation Diabetes Federation (IDF), estimates that in 2021, 11,004,999 individuals were diabetic, which is 11.8% of total the population.
   
• Thus, this demographic shift has created awareness among the healthcare providers and policy makers for the need of effective strategies to overcome diabetes and its related health conditions.
   
• Further, through programs such the ‘Health Japan 21’ campaign, which aims to reduce the number of lifestyle-related diseases, the Japanese government is raising awareness of regarding physical health.
   

Middle East and Africa: Noteworthy growth in Saudi Arabia continuous glucose monitoring market from 2024 to 2032
 

• Saudi Arabia’s advance healthcare infrastructure and rising investment in advanced healthcare technologies create opening for the development and adoption of advanced CGM devices tailored to the country’s patient specific needs.
   
• Further, the growing case of diabetes is creating the heightened demand for  continuous glucose monitoring in Saudi Arabia.
   
• Moreover, the rise in health awareness programs in Saudi Arabia that focuses on chronic management, which emphasizes on prevention and treatment. Thus, CGM devices play key role in promoting the early interventions and educating the users on adopting the healthier lifestyle habits to prevent the chronic illness and enhance overall well-being.
   

Continuous Glucose Monitoring Market Share

The top 3 players of the market account for approximately 70% of the market share which includes companies such as Abbott Laboratories, Dexcom, Medtronic, among others. With every firm introducing new devices and using advanced technologies, modernization is extremely important. Moreover, strategic partnerships with research institutes, and government agencies play a primary role in advancing the development of devices and getting the necessary permits. The development of public awareness about diabetes and its health impact through the social media platform, will encourage more individuals to seek the treatment, enabling market players to strengthen their position in this growing sector.
 

Continuous Glucose Monitoring Market Companies

Some of the eminent market participants operating in the continuous glucose monitoring industry include:

• Abbott Laboratories
• A. Menarini Diagnostics
• Dexcom
• i-SENS, Inc.
• F. Hoffmann-La Roche
• Med Trust
• Medtronic
• Medtrum Technologies
• Senseonics
• Sinocare
• Zhejiang POCTech
   
• Abbott Laboratories has strong product portfolio leading to larger adoption and significant market expansion. Abbott provides a diverse range of products pertaining to CGM such as FreeStyle Libre 2, FreeStyle Libre 3, among others.
   
• Dexcom invests in research and development, fostering innovation and growth. The company continuously evolves with newest advancement in CGM devices.
   
• Medtronic has strong geographical presence which enables it to enhance its market reach. Medtronic operates in more than 150 countries thus comprising of a robust distribution network.
   

Continuous Glucose Monitoring Industry News:

• In June 2024, Abbott announced U.S. Food and Drug Administration (FDA) has approved its two new over-the-counter continuous glucose monitoring (CGM) systems, Lingo and Libre Rio, based on FreeStyle Libre continuous glucose monitoring technology. This approval enhanced the company’s competitiveness in the market.
   
• In July 2024, Roche announced the CE Mark approval for its Accu-Chek SmartGuide continuous glucose monitoring (CGM) solution. This approval expanded the company’s reputation in the market.
   

The continuous glucose monitoring market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Component

• Transmitters
• Sensors
• Receivers

Market, By End Use

• Hospitals
• Home care settings
• Diagnostic centres and clinics
• Other end users

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Sweden
  • Russia
  • Denmark
  • Finland
  • Norway
  • Poland
  • Switzerland
  • Belgium
  • Lithuania
  • Latvia
  • Estonia
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Taiwan
  • Indonesia
  • Vietnam
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Egypt
  • Israel
  • Kuwait
  • Qatar