Continuous Glucose Monitoring Device (CGMD) Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Product (Sensors, Transmitters, and Receivers), Application (Type 1 Diabetes and Type 2 Diabetes), Testing Site (Fingertip Testing and Alternate Site Testing), End User (Hospitals & Clinics and Self/Homecare), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
The Continuous Glucose Monitoring Devices (CGMD) market size is expected to grow from US$ 9.8 billion in 2022 to US$ 28.5 billion by 2030. The Continuous Glucose Monitoring Device market report emphasizes key factors driving the Continuous Glucose Monitoring Device market growth and developments by prominent players in the market.
High Importance of Continuous Monitoring for Diabetes Management Bolsters Continuous Glucose Monitoring Device Market Size
Currently, diabetes management is extremely complex, as the disease results in people creating new lifestyle habits, medications, and so on. Moreover, people suffering from diabetes require careful monitoring of blood glucose levels. The demand for Continuous Glucose Monitoring Devices is high among diabetic people owing to the high glucose levels that are difficult to maintain. These devices are the most advanced technology devices that have reshaped manual diabetes management with their components, such as sensors, transmitters, and monitors. With their smart features, Continuous Glucose Monitoring Devices provide people with diabetes real-time updates regarding blood sugar levels, which helps them modify dietary patterns or insulin doses as directed by the healthcare physician. Such real-time updates reduce the risk of hypoglycemia or hyperglycemia among people living with diabetes. Further, significant expansion of the medical device industry in recent years, primarily during the COVID-19 pandemic, has positively impacted the Continuous Glucose Monitoring Device market size. Advancements in Continuous Glucose Monitoring Device technologies have made life easier for people with diabetes. For example, insulin administration and blood glucose monitoring have transformed from multiple finger pricks daily to a few swipes on a cell phone.
Technological Trends
Technology plays a vital role in diabetes care, as a wide range of devices and tools are enabled with modern technologies. Continuous Glucose Monitoring Device manufacturers target low- and middle-income (LMIC) markets rather than high-income markets, as they anticipate that diabetic people from these countries would switch to Continuous Glucose Monitoring Device products, particularly if they are reimbursed well for these devices. Moreover, continuous monitoring instead of repetitive self-monitoring aids in additional relief. Continuous Glucose Monitoring Devices integrated with automated treatment delivery systems (e.g., insulin pumps) can offer benefits to individuals who don't have to manually adjust insulin dosages based on Continuous Glucose Monitoring Device readings. Thus, advancements in Continuous Glucose Monitoring Devices are likely to bring new Continuous Glucose Monitoring Device market trends in the coming years.
Continuous Glucose Monitoring Devices Market, by Product:
By product, the market is segmented into sensors, transmitters, and receivers. The sensors segment held the largest Continuous Glucose Monitoring Device market share in 2022. The same segment is anticipated to register the highest CAGR of 14.6% during the forecast period. In January 2024, Dexcom announced the submission of approval for a new glucose sensor named 'Stelo Glucose Sensor' to the Food and Drug Administration (FDA). The new sensor is indicated particularly for devices designed for people suffering from type 2 diabetes to help them monitor health through maintaining diet, exercise, sleep, and stress. According to the 'Self-Monitoring Devices in LMICs' report, the revenue for major Continuous Glucose Monitoring Device suppliers (Abbott, Dexcom, and Medtronic) is driven primarily by sensors. Also, patients prefer sensors frequently (every 10–14 days on average). Thus, sensors account for 60–90% of the total sales revenue in the Continuous Glucose Monitoring Device market.
Regional Analysis
The global Continuous Glucose Monitoring Device market report is geographically segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest Continuous Glucose Monitoring Device market share. The market growth in this region is driven by the increasing number of product launches by top companies and the presence of key market players.
Industry Developments and Future Opportunities:
A few strategic developments by leading players operating in the Continuous Glucose Monitoring Device market are listed below:
B. Braun SE, F. Hoffmann-La-Roche Ltd, LifeScan Inc, Medtronic, Abbott Laboratories, Ypsomed Holding AG, Sensionics, Nipro Corp, GE Healthcare, and Terumo Corp are the prominent companies in the Continuous Glucose Monitoring Device market report. These companies focus on new technologies, upgrading existing products, and geographic expansions to meet the growing consumer demand worldwide.
High Importance of Continuous Monitoring for Diabetes Management Bolsters Continuous Glucose Monitoring Device Market Size
Currently, diabetes management is extremely complex, as the disease results in people creating new lifestyle habits, medications, and so on. Moreover, people suffering from diabetes require careful monitoring of blood glucose levels. The demand for Continuous Glucose Monitoring Devices is high among diabetic people owing to the high glucose levels that are difficult to maintain. These devices are the most advanced technology devices that have reshaped manual diabetes management with their components, such as sensors, transmitters, and monitors. With their smart features, Continuous Glucose Monitoring Devices provide people with diabetes real-time updates regarding blood sugar levels, which helps them modify dietary patterns or insulin doses as directed by the healthcare physician. Such real-time updates reduce the risk of hypoglycemia or hyperglycemia among people living with diabetes. Further, significant expansion of the medical device industry in recent years, primarily during the COVID-19 pandemic, has positively impacted the Continuous Glucose Monitoring Device market size. Advancements in Continuous Glucose Monitoring Device technologies have made life easier for people with diabetes. For example, insulin administration and blood glucose monitoring have transformed from multiple finger pricks daily to a few swipes on a cell phone.
Technological Trends
Technology plays a vital role in diabetes care, as a wide range of devices and tools are enabled with modern technologies. Continuous Glucose Monitoring Device manufacturers target low- and middle-income (LMIC) markets rather than high-income markets, as they anticipate that diabetic people from these countries would switch to Continuous Glucose Monitoring Device products, particularly if they are reimbursed well for these devices. Moreover, continuous monitoring instead of repetitive self-monitoring aids in additional relief. Continuous Glucose Monitoring Devices integrated with automated treatment delivery systems (e.g., insulin pumps) can offer benefits to individuals who don't have to manually adjust insulin dosages based on Continuous Glucose Monitoring Device readings. Thus, advancements in Continuous Glucose Monitoring Devices are likely to bring new Continuous Glucose Monitoring Device market trends in the coming years.
Continuous Glucose Monitoring Devices Market, by Product:
By product, the market is segmented into sensors, transmitters, and receivers. The sensors segment held the largest Continuous Glucose Monitoring Device market share in 2022. The same segment is anticipated to register the highest CAGR of 14.6% during the forecast period. In January 2024, Dexcom announced the submission of approval for a new glucose sensor named 'Stelo Glucose Sensor' to the Food and Drug Administration (FDA). The new sensor is indicated particularly for devices designed for people suffering from type 2 diabetes to help them monitor health through maintaining diet, exercise, sleep, and stress. According to the 'Self-Monitoring Devices in LMICs' report, the revenue for major Continuous Glucose Monitoring Device suppliers (Abbott, Dexcom, and Medtronic) is driven primarily by sensors. Also, patients prefer sensors frequently (every 10–14 days on average). Thus, sensors account for 60–90% of the total sales revenue in the Continuous Glucose Monitoring Device market.
Regional Analysis
The global Continuous Glucose Monitoring Device market report is geographically segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest Continuous Glucose Monitoring Device market share. The market growth in this region is driven by the increasing number of product launches by top companies and the presence of key market players.
Industry Developments and Future Opportunities:
A few strategic developments by leading players operating in the Continuous Glucose Monitoring Device market are listed below:
- In October 2023, Philips-Medisize announced a partnership with GlucoModicm to commercialize a proprietary noninvasive and wearable device. The partnership is aimed to create a solution that is needle-free, accurate, and more affordable for diabetic people seeking ways to monitor blood glucose levels better.
B. Braun SE, F. Hoffmann-La-Roche Ltd, LifeScan Inc, Medtronic, Abbott Laboratories, Ypsomed Holding AG, Sensionics, Nipro Corp, GE Healthcare, and Terumo Corp are the prominent companies in the Continuous Glucose Monitoring Device market report. These companies focus on new technologies, upgrading existing products, and geographic expansions to meet the growing consumer demand worldwide.
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1 Continuous Glucose Monitoring Devices - Global Market Overview
6.2 Continuous Glucose Monitoring Devices - Global Market and Forecast to 2031
7. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY PRODUCT, 2021-2031
7.1 Overview
7.2 Sensors
7.3 Transmitters
7.4 Receivers
8. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY APPLICATION, 2021-2031
8.1 Overview
8.2 Type 1 Diabetes
8.3 Type 2 Diabetes
9. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY TESTING SITES, 2021-2031
9.1 Overview
9.2 Fingertip Testing
9.3 Alternate Site Testing
10. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY END USER, 2021-2031
10.1 Overview
10.2 Hospitals and Clinics
10.3 Self/Homecare
11. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - REVENUE ANALYSIS (USD MILLION), 2021-2031 – GEOGRAPHICAL ANALYSIS
11.1 North America
11.1.1 North America Continuous Glucose Monitoring Devices Market Overview
11.1.2 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts to 2031
11.1.3 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Product
11.1.4 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Application
11.1.5 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Testing Sites
11.1.6 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Continuous Glucose Monitoring Devices Market
11.1.7.1.1 United States Continuous Glucose Monitoring Devices Market, by Product
11.1.7.1.2 United States Continuous Glucose Monitoring Devices Market, by Application
11.1.7.1.3 United States Continuous Glucose Monitoring Devices Market, by Testing Sites
11.1.7.1.4 United States Continuous Glucose Monitoring Devices Market, by End User
11.1.7.2 Canada Continuous Glucose Monitoring Devices Market
11.1.7.2.1 Canada Continuous Glucose Monitoring Devices Market, by Product
11.1.7.2.2 Canada Continuous Glucose Monitoring Devices Market, by Application
11.1.7.2.3 Canada Continuous Glucose Monitoring Devices Market, by Testing Sites
11.1.7.2.4 Canada Continuous Glucose Monitoring Devices Market, by End User
11.1.7.3 Mexico Continuous Glucose Monitoring Devices Market
11.1.7.3.1 Mexico Continuous Glucose Monitoring Devices Market, by Product
11.1.7.3.2 Mexico Continuous Glucose Monitoring Devices Market, by Application
11.1.7.3.3 Mexico Continuous Glucose Monitoring Devices Market, by Testing Sites
11.1.7.3.4 Mexico Continuous Glucose Monitoring Devices Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. INDUSTRY LANDSCAPE
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. COMPETITIVE LANDSCAPE
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - KEY COMPANY PROFILES
14.1 B. Braun SE
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 F. Hoffmann-La-Roche Ltd
14.3 LifeScan Inc
14.4 Medtronic
14.5 Abbott Laboratories
14.6 Ypsomed Holding AG
14.7 Sensionics
14.8 Nipro Corp
14.9 GE Healthcare
14.10 Terumo Corp
15. APPENDIX
15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Cloud
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1 Continuous Glucose Monitoring Devices - Global Market Overview
6.2 Continuous Glucose Monitoring Devices - Global Market and Forecast to 2031
7. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY PRODUCT, 2021-2031
7.1 Overview
7.2 Sensors
7.3 Transmitters
7.4 Receivers
8. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY APPLICATION, 2021-2031
8.1 Overview
8.2 Type 1 Diabetes
8.3 Type 2 Diabetes
9. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY TESTING SITES, 2021-2031
9.1 Overview
9.2 Fingertip Testing
9.3 Alternate Site Testing
10. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET – REVENUE ANALYSIS (USD MILLION) – BY END USER, 2021-2031
10.1 Overview
10.2 Hospitals and Clinics
10.3 Self/Homecare
11. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - REVENUE ANALYSIS (USD MILLION), 2021-2031 – GEOGRAPHICAL ANALYSIS
11.1 North America
11.1.1 North America Continuous Glucose Monitoring Devices Market Overview
11.1.2 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts to 2031
11.1.3 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Product
11.1.4 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Application
11.1.5 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Testing Sites
11.1.6 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Continuous Glucose Monitoring Devices Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Continuous Glucose Monitoring Devices Market
11.1.7.1.1 United States Continuous Glucose Monitoring Devices Market, by Product
11.1.7.1.2 United States Continuous Glucose Monitoring Devices Market, by Application
11.1.7.1.3 United States Continuous Glucose Monitoring Devices Market, by Testing Sites
11.1.7.1.4 United States Continuous Glucose Monitoring Devices Market, by End User
11.1.7.2 Canada Continuous Glucose Monitoring Devices Market
11.1.7.2.1 Canada Continuous Glucose Monitoring Devices Market, by Product
11.1.7.2.2 Canada Continuous Glucose Monitoring Devices Market, by Application
11.1.7.2.3 Canada Continuous Glucose Monitoring Devices Market, by Testing Sites
11.1.7.2.4 Canada Continuous Glucose Monitoring Devices Market, by End User
11.1.7.3 Mexico Continuous Glucose Monitoring Devices Market
11.1.7.3.1 Mexico Continuous Glucose Monitoring Devices Market, by Product
11.1.7.3.2 Mexico Continuous Glucose Monitoring Devices Market, by Application
11.1.7.3.3 Mexico Continuous Glucose Monitoring Devices Market, by Testing Sites
11.1.7.3.4 Mexico Continuous Glucose Monitoring Devices Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. INDUSTRY LANDSCAPE
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. COMPETITIVE LANDSCAPE
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. CONTINUOUS GLUCOSE MONITORING DEVICES MARKET - KEY COMPANY PROFILES
14.1 B. Braun SE
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 F. Hoffmann-La-Roche Ltd
14.3 LifeScan Inc
14.4 Medtronic
14.5 Abbott Laboratories
14.6 Ypsomed Holding AG
14.7 Sensionics
14.8 Nipro Corp
14.9 GE Healthcare
14.10 Terumo Corp
15. APPENDIX
15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Cloud
