Continuous Glucose Monitoring Devices (CGMD) Market 2030 | Report
[Research Report] The Continuous Glucose Monitoring Device market is projected to grow from US$ 9.8 billion in 2022 to US$ 28.5 billion by 2030; the market is estimated to record a CAGR of 14.1% during 2022–2030.
Market Insights and Analyst View:
The Continuous Glucose Monitoring Device Market forecast can help stakeholders in this marketplace plan their growth strategies. The rising preference for Continuous Glucose Monitoring Devices over self-glucose monitoring devices among the diabetic population propels the market. However, product recalls impede the Continuous Glucose Monitoring Device Market growth.
Growth Drivers:
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.
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Continuous Glucose Monitoring Device (CGMD) Market: Strategic Insights
Market Size Value in US$ 9.8 billion in 2022 Market Size Value by US$ 28.5 billion by 2030 Growth rate CAGR of 14.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Continuous Glucose Monitoring Device (CGMD) Market: Strategic Insights
| Market Size Value in | US$ 9.8 billion in 2022 |
| Market Size Value by | US$ 28.5 billion by 2030 |
| Growth rate | CAGR of 14.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The “Continuous Glucose Monitoring Device market analysis” has been carried out by considering the following segments: product, application, testing site, and end user.
Segmental Analysis:
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.
Technology 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.
Regional Analysis:
The geographic scope of the Continuous Glucose Monitoring Device market report includes 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, in addition to the presence of key market players in this region. The US is the largest contributor to the market in North America. The rising prevalence of diabetes is a key factor responsible for accelerating demand for Continuous Glucose Monitoring Devices in the US. Also, access to modern technology-enabled products favors the Continuous Glucose Monitoring Device market growth in this country. According to statistics released in the American Diabetes Association report in 2021, 38.4 million Americans (11.6%) of the total population had diabetes, including 29.7 million diagnosed and 8.7 million undiagnosed cases. Abbott's "FreeStyle Libre 2" is an example of an advanced technology-based Continuous Glucose Monitoring Device product that is the longest-lasting integrated continuous glucose monitoring (iCGM) system on the market; it provides glucose readings to the patient every minute. Also, FreeStyle Libre 2 is the only integrated iCGM system available in the US for patients from two age groups, i.e., adults and children aged 4 or more.
Continuous Glucose Monitoring Devices (CGMD) Market Report Scope
Industry Developments and Future Opportunities:
A few strategic developments by leading players operating in the Continuous Glucose Monitoring Device market, as per their press releases, 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 at creating a solution that is needle-free, accurate, and more affordable for diabetic people seeking ways to monitor blood glucose levels better.
- In January 2024, Medtronic, announced CE Mark approval for the "MiniMed 780G system" with the Simplera Sync, a disposable, all-in-one Continuous Glucose Monitoring Device seeking no finger prick or overtape. The new product will be available in Europe and Medtronic had a phased commercial launch in Europe in Spring 2024.
- In December 2023, Dexcom announced a new Continuous Glucose Monitoring Device product launch, "Dexcom G7" " The new product launch is the smallest and most accurate Continuous Glucose Monitoring Device connected to the t: slim X2 insulin pump. The product is the fastest Continuous Glucose Monitoring Device connected to the t: slim X2 pump with a 30-minute sensor warmup,* and along with Dexcom G6, and is the only Continuous Glucose Monitoring Device system providing alert seeking no finger prick.
Competitive Landscape and Key Companies:
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 among the prominent companies profiled in the Continuous Glucose Monitoring Device market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, Testing Site, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Continuous glucose monitoring utilizes a device to automatically estimate blood glucose levels throughout the day and night. Monitoring continuous blood glucose levels in real-time can assist physicians in making informed decisions about the food and beverages the patient consumes, physical activity, and medications.
The CAGR value of the continuous glucose monitoring devices market during the forecasted period of 2022-2030 is 14.1%.
Key factors that are driving the growth of this market are high adoption of CGMD for diabetes management is expected to boost the market growth for the continuous glucose monitoring devices over the years.
The sensors segment held the largest share of the market in the global continuous glucose monitoring devices market and held the largest market share in 2022.
The type 2 diabetes segment dominated the global continuous glucose monitoring devices market and held the largest market share in 2022.
F. Hoffmann-La-Roche Ltd and Medtronic are the top two companies that hold huge market shares in the continuous glucose monitoring devices market.
The continuous glucose monitoring devices market majorly consists of the players such B. Braun SE, F. Hoffmann-La-Roche Ltd, LifeScan Inc, Medtronic, Abbott Laboratories, Ypsomed Holding AG, Sensionics, Nipro Corp, GE Healthcare, and Terumo Corp, and amongst others.
Global continuous glucose monitoring devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. North America held the largest market share of the continuous glucose monitoring devices market in 2022.
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
The List of companies - Continuous Glucose Monitoring Device (CGMD) Market
- B. Braun SE
- F. Hoffmann-La-Roche Ltd
- LifeScan Inc
- Medtronic
- Abbott Laboratories
- Ypsomed Holding AG
- Sensionics
- Nipro Corp
- GE Healthcare
- Terumo Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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