February 9, 2025

The Continuous Glucose Monitoring Devices Market Is Expected To Be Flourished By Growing Diabetes Management Market

Continuous glucose monitoring devices are medical devices used for monitoring of glucose levels in people with diabetes. These devices continuously measure glucose levels in interstitial fluid or blood using a small sensor inserted under the skin. Some of the key products are Eversense, Freestyle Libre, Dexcom G6 and Abbott’s offering. The devices require minimal calibration and offer real-time glucose readings along with alerts for high and low blood sugar levels. This helps in making timely lifestyle and treatment decisions without the need for routine finger pricks.

The global continuous glucose monitoring devices market is estimated to be valued at US$ 2.9 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing diabetes management market and increasing demand for minimally invasive devices is expected to fuel the market growth over the forecast period. According to the International Diabetes Federation, around 537 million adults are living with diabetes worldwide in 2021 and this number is projected to rise to 783 million by 2045. Rising prevalence has increased the uptake of self-monitoring devices, support from regulatory bodies for early approvals of new devices and healthcare reimbursements for CGM devices in various regions. Another major driver is the growing obese population which is at high risk of developing type 2 diabetes.

Segment Analysis
The Continuous Glucose Monitoring Devices Market Size can be segmented into homecare, clinics and hospitals. The homecare segment is dominating the continuous glucose monitoring devices market currently. Homecare segment currently holds around 70% share of total market. The homecare segment is dominating as these devices allow patients to continuously monitor glucose level remotely without visiting hospitals. Continuous glucose monitoring helps people with diabetes closely monitor real-time changes in their glucose levels throughout the day and night. This provides more freedom and flexibility as compared to conventional methods of blood glucose monitoring using finger prick tests.

PEST Analysis
Political
: Governments across countries are taking initiatives and implementing regulations to promote adoption of continuous glucose monitoring devices. This helps improve diabetes management and control.

Economic: Rising incidence of diabetes coupled with growing awareness about benefits of continuous glucose monitoring is fueling market growth.

Social: Changing lifestyles leading to sedentary habits and unhealthy diets is increasing diabetes cases. This is generating demand for technologies like continuous glucose monitoring devices to help manage diabetes.

Technological: Advancements in sensor technology, miniaturization, data connectivity and artificial intelligence are driving innovation in continuous glucose monitoring devices. New systems with smartphone connectivity and insulin pump integration are being introduced.

Key Takeaways
The global Continuous Glucose Monitoring Devices market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America currently dominates the market owing to high awareness levels and early adoption of advanced diabetes management devices. However, Asia Pacific is expected to witness fastest growth due to rising diabetes population and improving healthcare infrastructure in the region.

Key players: Key players operating in the continuous glucose monitoring devices market are 3M , BSN Medical, Sigvaris AG, Cardinal Health,Medi GmbH & Co, ArjoHuntleigh Healthcare India, Bio Compression Systems Inc. These players are focusing on new product launches, partnerships and expansion in emerging markets to strengthen their market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

Ravina Pandya

Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

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