Continuous Glucose Monitoring System Market size was valued at USD 8.90 billion in 2023. The Continuous Glucose Monitoring System Market industry is projected to grow from USD 10.05 billion in 2024 to USD 25.81 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.24% during the forecast period (2024 - 2032).
Analyst comment
“The continuous glucose monitoring system market is predicted to expand due to the increasing prevalence of diabetes. Further, about 98 million Americans have prediabetes, hence regular monitoring of glucose level has become a necessity, which will drive the growth in the coming future.”
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increasing prevalence of diabetes worldwide stands out as a prominent driver fueling the growth of the global continuous glucose monitoring systems market. Diabetes has reached epidemic proportions, with a staggering rise in the number of affected individuals globally. According to the International Diabetes Federation (IDF), in 2021, approximately 537 million people worldwide were living with diabetes, and this number is expected to soar to 643 million by 2030. Similarly, according to the American Diabetes Association, diabetes affected 38.4 million Americans, or 11.6% of the population, in 2021. Type 1 diabetes affects around 2.0 million Americans, including approximately 304,000 children and adolescents. The escalating incidence of diabetes is attributed to various factors, including sedentary lifestyles, unhealthy dietary habits, and the aging population. As the diabetic population continues to grow, the demand for effective diabetes management solutions becomes more pressing. Continuous glucose monitoring systems play a pivotal role in providing real-time insights into blood glucose levels, enabling patients and healthcare professionals to make timely and informed decisions regarding treatment and lifestyle adjustments. The ability of continuous glucose monitoring systems to offer continuous monitoring, early detection of fluctuations, and personalized insights aligns with the evolving needs of the expanding diabetic population.
The Continuous Glucose Monitoring System Market segmentation, based on product, includes sensors and transmitter and receivers. The sensor segment held the largest market share in 2023 and transmitter & receivers is the fastest-growing segment during the forecast period i.e., 2024-2032. A sensor is a small, disposable device inserted under the skin that uses a tiny electrode to measure glucose levels in the interstitial fluid. The sensor continuously detects glucose levels and sends the data to a receiver or smartphone. Receiver is a handheld device or smartphone app that displays the glucose readings received from the sensor. It provides real-time information on glucose levels, trend arrows indicating the direction and rate of glucose changes, and alerts for high or low glucose levels. Moreover, transmitter is a component of the CGM system that wirelessly sends the glucose data from the sensor to the receiver or smartphone. It may be built-in with the sensor or separate, depending on the device.
Figure 2: Continuous Glucose Monitoring System Market, by Product, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Continuous Glucose Monitoring System Market segmentation, based on application, includes type 2 diabetes, type 1 diabetes, and non-diabetic patients. The type 1 diabetes segment held the largest market and type 2 diabetes is the fastest growing segment during the forecast period. Type 1 diabetes (T1D) management has been easy due to the development and routine utilization of continuous glucose monitoring. CGM technology makes everything easy and convenient when it comes to tracking dynamic glycemic fluctuations and trends, which allows for optimizing medical therapy and the prevention of dangerous hypoglycemic events. The increasing incidence of T1D is increasing the demand for CDM devices worldwide. Increasing incidences of T1D and T2D, rising awareness of CGM devices, and an increasing number of people with weight loss are driving segment growth.
Based on End user, the global continuous Glucose Monitoring System industry has been segmented into hospitals & clinics, homecare settings, and others. The homecare settings segment held the largest market and hospitals & clinics is the fastest growing segment during the forecast period. CGM devices represent the era of digital diabetes management, and their adoption in homecare settings has increased since 2020 due to COVID-19. The leading manufacturers started to develop such devices to fulfill the demand of patients for remote monitoring. In addition, the growing geriatric population is also increasing the need for CGM devices in developing regions. Increase in usage of CGMs in hospitals and the growing geriatric population are driving the growth of the end-user segment market.
By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America accounted for the largest market share of 34.47% in 2023 and is anticipated to reach approximately USD 08.00 billion by 2032 at a 10.06% CAGR during the forecast period. However, Asia-Pacific is projected to grow at the highest CAGR of 12.67% during the forecast period.
The North America continuous glucose monitoring systems market accounted for USD 3.07 billion in 2023 and is projected to grow at a CAGR of 10.06% during the forecast period. North America is further segmented into the US, and Canada.
The North America continuous glucose monitoring systems market is experiencing robust growth, driven by technological advancements and a rising prevalence of diabetes in the region. According to the center of disease control and prevention (CDC), in 2020, approximately 34.2 million people in the United States had diabetes. This includes both diagnosed and undiagnosed cases. CGM devices play a pivotal role in diabetes management by providing real-time glucose level data, empowering patients to make informed decisions about their treatment.
Further, the major countries will be study are: The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: CONTINUOUS GLUCOSE MONITORING SYSTEM MARKET BY REGION 2023 & 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe continuous glucose monitoring System market accounted for the second-largest market share due to technology advancements, increasing healthcare expenditure, and increasing prevalence of diabetes. Furthermore, the Germany continuous glucose monitoring System attributed to hold the largest market share, and the France Continuous Glucose Monitoring System is projected be the fastest growing market in the Europe region.
The Asia-Pacific Continuous Glucose Monitoring System market is expected to be the fastest growing from 2023 to 2030 owing to high patient population, reduced costs of conducting trials, and favorable regulatory policies. Moreover, key players working in the Continuous Glucose Monitoring System Market are actively expanding into this region, further driving the regional market growth. Moreover, China Continuous Glucose Monitoring System accounted to hold the largest market share, and the India Continuous Glucose Monitoring System is projected to be the fastest growing market in the Asia-Pacific region.
Global Continuous Glucose Monitoring System Key Market Players & Competitive Insights
The global continuous glucose monitoring systems market is distinguished by the presence of numerous global and local players catering to continuous glucose monitoring products that are evolving at a rapid pace. Furthermore, the rising awareness about diabetes preventive care and increasing number of product launches is further driving the growth of global continuous glucose monitoring systems market during the forecast period. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their products and signing contracts and agreements to broaden their reach and reduce operational costs.
Abbott Laboratories, Inc. discovers, develops, manufactures, and sells healthcare products Abbott is dedicated to developing innovative products that make glucose testing easier and more accurate. Their systems and mobile apps offer a range of features to meet the specific needs of people living with diabetes. . They have developed CGMs ranging from personal use to hospital use
Moreover, in March 2023, Abbott Laboratories, Inc. (US) announced that the US Food and Drug Administration (FDA) has approved its FreeStyle Libre 2 and FreeStyle Libre 3 integrated continuous glucose monitoring (CGM) system sensors for use with automated insulin delivery (AID) systems. Abbott modified the sensors to allow for integration with AID systems.
Key Companies in the Continuous Glucose Monitoring System market includes
Global Continuous Glucose Monitoring System Industry Developments
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 8.90 billion |
| Market Size 2024 | USD 10.05 billion |
| Market Size 2032 | USD 25.81 billion |
| Compound Annual Growth Rate (CAGR) | 11.24% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2019 to 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End user, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea |
| Key Companies Profiled | Dexcom, Inc (US) A. Menarini Diagnostics Srl (Italy) Senseonics (US) Medtrum Technologies Inc. (China) Nemaura Medical Inc (US) Ultrahuman Healthcare Pvt Ltd (India) Medtronic (Ireland) One Drop (US) Abbott Laboratories, Inc. (US) Sinocare (China)  |
| Key Market Opportunities | ·      Growing technological advancements and innovation |
| Key Market Drivers | ·      Increasing Prevalence of Diabetes ·      Increasing Geriatric Population |
Frequently Asked Questions (FAQ) :
The Continuous Glucose Monitoring System Market is anticipated to reach 25.81 billion at a CAGR of 11.24% during the forecast period of 2024-2032.
The US is expected to hold a 35%-37% share of the North America market for Continuous Glucose Monitoring Systemin 2023.
The North America region market is estimated to hold the largest market share in glucose monitoring system.
The North America region market is estimated to hold the largest market share in glucose monitoring system.
The key players include Dexcom, Inc (US), A. Menarini Diagnostics Srl (Italy), Senseonics (US), Medtrum Technologies Inc. (China), Nemaura Medical Inc (US), Ultrahuman Healthcare Pvt ltd (India).
The Sensor segment led the Continuous Glucose Monitoring System market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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