Continuous Glucose Monitoring Market Analysis

Continuous Glucose Monitoring Market Analysis

To get key market trends

  Download Free Sample

Based on component, the continuous glucose monitoring market is segmented into transmitters, sensors, and receivers. The sensors segment witnessed the largest revenue size at USD 2.8 billion in 2022. The sensor is a small, flexible device that is inserted beneath the skin, usually on the abdomen or arm. It measures glucose levels in the interstitial fluid, which is the fluid that surrounds the body's cells. Moreover, CGM sensors not only provide current glucose levels but also indicate the direction and rate of glucose change with trend arrows. This information is valuable for identifying patterns, such as rapid glucose drops or spikes, and enables individuals to take appropriate action to manage their glucose.
 

Additionally, with the increasing number of patients suffering from type 1 diabetes, the demand for continuous glucose monitoring devices is growing due to several advantages such as it helps in early detection of hypoglycaemia, offers real-time data regarding one’s glucose levels, multiple pricking is not required, and improves the quality of glycaemic control in a person.
 

The continuous glucose monitoring market is segmented by hospitals, home care settings, diagnostic centers & clinics, and others. Home care settings segment is estimated to witness significant revenue at USD 8.1 billion by 2032. The demand for diabetes monitoring devices has increased phenomenally over the years especially post the COVID-19 pandemic. Due to a dearth in the availability of healthcare professionals, doctor appointments, appointments at diagnostic centers, and so forth, people gravitated more towards wearable medical devices to monitor their blood glucose levels. Furthermore, the availability of qualified nurses and the growing adoption for home care healthcare facilities in developed as well as developing countries is boosting the home care settings segment gains.
 

U.S. continuous glucose monitoring market accounted for USD 2 billion in 2022. The affordability of continuous glucose monitoring devices among the target population base and ongoing technological developments are primarily responsible for the progress of the U.S. continuous glucose monitoring business size. Further, the region's high healthcare spending on health care management and rising disposable income will propel the expansion of the North America market. Also, the substantial presence of well-established market participants and the favourable regulatory environment result in a number of product approvals and launches, particularly in the U.S.