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Continuous Glucose Monitoring Market Size

Report ID: GMI6109
Published Date: Jun 2023
Report Format: PDF

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Continuous Glucose Monitoring Market Size

Continuous Glucose Monitoring Market size was valued at USD 6.8 billion in 2023 and is projected to reach at USD 20.2 billion by 2032. Continuous glucose monitoring (CGM) is a technology used to monitor blood glucose levels in real time throughout the day and night. It is primarily used by individuals with diabetes to track their glucose levels more frequently and accurately than traditional fingerstick tests.

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Further, CGM systems comprise of glucose biosensors, transmitters, and receivers and are programmed to provide alerts and alarms when glucose levels are too high or too low, helping individuals take prompt action to prevent dangerous fluctuations. Moreover, the growing number of people suffering from type 1 and type 2 diabetes across the globe is the primary factor driving the industry expansion. For instance, according to the International Diabetes Federation, in 2021, approximately 537 million people were diagnosed with diabetes, and it is estimated to reach about 783 million by 2045.

Continuous Glucose Monitoring Market Report Attributes
Report Attribute	Details
Base Year:	2023
Continuous Glucose Monitoring Market Size in 2023:	USD 6.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	12.6%
2032 Value Projection:	USD 20.2 Billion
Historical Data for:	2018 to 2023
No. of Pages:	200
Tables, Charts & Figures:	209
Segments covered:	Component, End-use, and Region
Growth Drivers:	Increasing number of people suffering from diabetes across the world Rise in demand for continuous monitoring devices globally Technological advancements in devices Increasing government initiatives to generate awareness regarding diabetes
Pitfalls & Challenges:	High cost related to devices Stringent regulatory scenario

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Moreover, the growing geriatric population base suffering from age-onset diabetes is further propelling the market development. As per data provided by the World Health Organization (WHO), by 2050, the global population of individuals aged 60 years and above will double to approximately 1.2 billion. Additionally, the increasing patient awareness regarding diabetes management and control.

Authors: Mariam Faizullabhoy , Pratiksha Kamthe

Frequently Asked Questions (FAQ) :

Global market size for continuous glucose monitoring was USD 6.8 billion in 2023 and is projected to reach USD 20.2 billion by 2032, driven by the increasing number of type 1 and type 2 diabetes patients globally.

The sensors component segment generated USD 2.8 billion in 2022 and is poised to record substantial growth through 2032 owing to the rising need for early detection of hypoglycemia

U.S. industry amassed USD 2 billion in 2022 and is projected to grow at a notable CAGR through 2032 owing to the ongoing technological developments, rising healthcare spending, and the presence of well-established market participants in the country.

Some of the prominent companies in the continuous glucose monitoring market are Lifescan, Inc., Ascensia Diabetes Care Holdings AG. (Senseonics, Inc.), Universal Biosensors, Taidoc Technology Corporation, Med Trust, Roche AG., Dexcom, Abbott, i-SENS, Inc., Trividia Health, and Medtronic,