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Global Continuous Glucose Monitoring Market Report by Component (Sensors, Transmitters, Receivers), End-User Regions and Company Analysis 2024-2032 ⅼ Renub Research

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The global continuous glucose monitoring (CGM) market is projected to reach a value of US$ 12.87 billion by 2032, with a compound annual growth rate (CAGR) of 8.22% between 2024 and 2032, according to Renub Research. In 2023, the market was valued at US$ 6.32 billion.

CGM devices are wearable technologies designed for people with diabetes, providing real-time monitoring of blood glucose levels. This technology helps individuals better understand their insulin needs, ultimately aiding in managing diabetes. CGM systems are crucial for people with type 1 and type 2 diabetes, enabling them to track blood sugar trends and prevent severe fluctuations that could lead to dangerous complications like hyperglycemia or hypoglycemia.

Trends in the Global Continuous Glucose Monitoring Market

Several factors are driving growth in the CGM market:

  • Increasing Prediabetes Prevalence: Prediabetes is a condition where blood sugar levels are higher than normal but not yet high enough to be considered type 2 diabetes. If left untreated, it can lead to full-blown diabetes. The National Institutes of Health (NIH) notes that the global prevalence of impaired fasting glucose (IFG) was 5.8% in 2021, affecting 298 million people. This figure is expected to rise to 6.5% by 2045, increasing the demand for CGM devices to manage prediabetes and prevent the progression to diabetes.
  • Growing Older Population: The risk of type 2 diabetes increases with age. According to the International Diabetes Federation (IDF), 19.3% of people aged 65 to 99 had diabetes in 2021. This number is expected to grow, with projections estimating 195.2 million individuals with diabetes by 2030 and 276.2 million by 2045 in this age group. This demographic shift will likely boost the demand for CGM devices, as older people require more frequent monitoring and care.
  • Technological Innovations and Improvements: Advances in CGM technology have significantly enhanced accuracy and usability, with several major medical device companies entering the CGM market. For example, in February 2024, Dexcom launched Dexcom ONE+ in Spain, Belgium, and Poland, featuring a waterproof sensor and real-time blood glucose monitoring. Such technological progress and innovations are expected to continue driving the market’s growth.

 

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United States CGM Market

The United States is anticipated to be a dominant player in the global CGM market due to its high diabetes prevalence and rapid adoption of CGM devices. In 2021, the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) estimated that 38.4 million people in the U.S. had diabetes, representing 11.6% of the population. Furthermore, over one-third of U.S. adults (97.6 million) had prediabetes.

Government initiatives such as the Medicare Diabetes Prevention Program (MDPP) and the National Diabetes Prevention Program (National DPP) by the CDC are among the key factors contributing to the growth of the CGM market in the U.S. Healthcare providers are increasingly recommending CGM use for managing diabetes, further driving the market’s expansion.

Company News in the Global CGM Market

Prominent companies in the CGM industry include Dexcom Inc., Ypsomed AG, Abbott Laboratories, Senseonics Holdings, Inc., Nemaura Medical, Inc., Medtronic, Inc., Tandem Diabetes Care, and Nova Biomedical. Here are some notable developments:

  • March 2024: The FDA approved the Dexcom Stelo Glucose Biosensor System for over-the-counter sale, making it the first OTC CGM. It is expected to be available for purchase in the summer of 2024.
  • January 2024: Medtronic’s MiniMed™ 780G system was updated with the Simplera Sync™, a disposable CGM eliminating the need for fingersticks or overtape, offering an improved user experience.
  • October 2023: Medtronic’s Simplera, a compact and disposable CGM for people aged two and up, is pending FDA approval in the U.S.
  • June 2023: I-SENS launched CareSens Air, a lightweight CGM device in South Korea, approved for continuous use for 15 days, offering accurate readings with a calibration mechanism.
  • March 2023: The Eversense E3 Continuous Glucose Monitoring (CGM) System was approved by the USDA, providing real-time blood sugar values and trends through a smartphone-compatible mobile app.

These developments reflect the ongoing innovation and market growth in the global continuous glucose monitoring industry, with significant opportunities for expansion and improvement in diabetes care.

 

About the Company:

 

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

 

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