The Global Continuous Glucose Monitoring (CGM) Market is projected to reach approximately US$ 13.06 Billion by 2032, with a compound annual growth rate (CAGR) of 8.40% from 2024 to 2032. The market was valued at US$ 6.32 Billion in 2023.
Overview of Continuous Glucose Monitoring (CGM)
Continuous glucose monitoring is an essential tool for individuals with diabetes, providing real-time insights into blood sugar levels. This technology helps patients manage their insulin needs effectively, reducing the risks associated with hyperglycemia and hypoglycemia.
Key Market Trends
- Growth in Prediabetes Prevalence
- Prediabetes is characterized by elevated blood sugar levels that may not yet indicate type 2 diabetes. The incidence of impaired fasting glucose (IFG) is projected to increase from 298 millionin 2021 to 414 million by 2045, driving demand for CGM devices.
- Increasing Older Population
- The aging population is more susceptible to diabetes. By 2030, an estimated 2 millionindividuals aged 65 or older will have diabetes, further propelling the need for continuous monitoring solutions.
- Technological Innovations
- Advancements in CGM technology enhance accuracy and user-friendliness. For example, DexCom's Dexcom ONE+device, launched in early 2024, features a waterproof sensor and real-time monitoring capabilities.
United States Market Insights
The United States is expected to lead the global CGM market due to a high prevalence of diabetes. In 2021, approximately 38.4 million Americans had diabetes, with 97.6 million identified as pre-diabetic. Initiatives like the Medicare Diabetes Prevention Program are also contributing to market growth.
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Notable Company Developments
- Dexcom Inc.
- In March 2024, the FDA approved the Dexcom Stelo Glucose Biosensor System for over-the-counter sale, marking a significant advancement in CGM accessibility.
- Medtronic
- The MiniMed™ 780G system was updated to include a new disposable CGM, enhancing user experience with a simplified insertion process.
- I-SENS
- Launched CareSens Air, a compact CGM device approved in South Korea, capable of continuous monitoring for 15 days.
Market Breakdown
- By Component:
- Sensors
- Transmitters
- Receivers
- By End-User:
- Hospitals
- Homecare Settings
- Others
- By Region:
- North America (U.S., Canada)
- Europe (France, Germany, Italy, Spain, UK, Belgium, Netherlands, Turkey)
- Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, South Africa)
Companies Covered
- Dexcom Inc.
- Ypsomed AG
- Abbott Laboratories
- Senseonics Holdings, Inc.
- Nemaura Medical, Inc.
- Medtronic, Inc.
- Tandem Diabetes Care
- Nova Biomedical
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