Continuous Glucose Monitoring Market
Global Continuous Glucose Monitoring Market by DataM Intelligence estimates the market to grow at a CAGR of 22% during the forecast period 2024-2031.
Continuous Glucose Monitoring (CGM) is a method used to track blood glucose levels throughout the day and night. It involves a small sensor placed under the skin that measures glucose levels in real-time, sending the data to a wearable device or smartphone app. This technology helps individuals with diabetes manage their condition by providing constant insights into their glucose trends, allowing them to make timely adjustments to diet, exercise, or medication.
CGM systems are particularly beneficial for those with type 1 and type 2 diabetes, as they help prevent dangerous highs and lows in blood sugar levels. The real-time data also enables more precise treatment adjustments, reducing the risk of complications. With advancements in CGM technology, these devices are becoming more accurate, user-friendly, and accessible, helping people with diabetes lead healthier, more controlled lives.
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Market Growth Drivers:
Increasing adoption of continuous glucose monitoring (CGM) devices will drive the market growth
For patients who rely on insulin pumps or daily insulin injections, Continuous Glucose Monitoring (CGM) has proven to be an essential tool in improving glycemic control while reducing the risk of dangerous hypoglycemia. Clinical trials have shown that diabetic patients with Type 1 Diabetes (T1DM) using CGM have better blood sugar management compared to those using traditional glucometers. This trend is also seen in children, where regular use of CGM has led to improved glycosylated hemoglobin (HbA1c) levels, with no increased risk of hypoglycemia.
Current CGM systems typically use glucose oxidase-based electrochemical sensors to measure glucose levels in the interstitial fluid. These devices can either provide real-time glucose readings through receiver displays or allow users to download data for retrospective analysis.
Many real-time CGM devices offer alerts to patients, parents, or caregivers to warn about rising or falling glucose levels, ensuring timely intervention. However, the accuracy of CGM devices remains a challenge that needs continuous improvement.
Lack of adequate reimbursement for devices will hamper the market growth
One of the main obstacles to the widespread adoption of Continuous Glucose Monitoring (CGM) devices is the lack of adequate reimbursement. This is largely because CGMs are approved by the FDA as an adjunct to standard home blood glucose monitors, not as a standalone treatment.
Even in regions like the United States, reimbursement is often limited to specific patient groups that meet strict criteria. This situation is particularly surprising given the growing body of clinical evidence highlighting the benefits of CGM usage for diabetes management.
Market Segments:
- By Component: Transmitter, Receiver, Sensor, Insulin pumps, Others
- By End User: Diagnostics Centers, ICUs, Home Healthcare
- By Region: North America, Latin America, Europe, Asia Pacific, Middle East and Africa
Top Key Players:
- Abbott Laboratories
- Dexcom, Inc.
- A. Menarini Diagnostics s.r.l
- Echo Therapeutics, Inc.
- GlySens Incorporated
- Johnson and Johnson
- Medtronic Plc
- Senseonics Holdings, Inc.
- F. Hoffmann-La Roche Ltd
- Medtrum Technologies, Inc.
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Regional Growth
North America region holds the largest market share of the global continuous glucose monitoring market
North America is expected to maintain the largest market share during the forecast period. Key factors driving this growth include the rising prevalence of diabetes, national government initiatives to manage the disease, increased adoption of innovative devices, and the presence of major market players. In April 2020, Abbott Laboratories and Dexcom, Inc. received FDA approval to use continuous glucose monitoring in U.S. hospitals for COVID-19 patients. Dexcom quickly began shipping CGM devices to hospitals and planned to produce 100,000 sensors at a low cost, while also donating 10,000 phones and CGM readers for scanning these sensors.
According to Diabetes Canada, about 11 million Canadians were living with diabetes or prediabetes in 2020. With more diabetic patients using insulin pumps for management, the demand for continuous glucose monitoring devices is expected to rise accordingly.
