Continuous Glucose Monitoring Market, By Product Type (Standalone and Integrated), By End-Use (Hospitals, Clinics, Home Care Settings, Academic and Research Institutes, and Other), and By Region Forecast To 2032

The global continuous glucose monitoring market size was at USD 7500 million in 2022 and is expected to reach USD 13219.28 million in 2032, and register a revenue CAGR of 6.5% during the forecast period.

Key Pointers

• The standalone segment is expected to account for the largest revenue share during the forecast period. 
• The integrated CGM systems segment is expected to register a rapid revenue growth rate during the forecast period.
• The home care settings segment accounted for the largest revenue share during the forecast period. 
• The hospital segment is expected to register the fastest revenue growth rate during the forecast period.
• The clinics segment is expected to account for a significantly large revenue share during the forecast period.
• The academic and research institutes segment is expected to register a moderately fast revenue growth rate during the forecast period.

The continuous glucose monitoring market revenue growth is being driven rapidly in recent years and is predicted to do so significantly faster in the years to come.

Prevalence of diabetes is on the rise, particularly type 2 diabetes, which has increased demand for continuous glucose monitoring devices. The World Diabetes Federation estimates that there were 463 million diabetics worldwide in 2019 and that there will be 700 million by 2045. The market for integrated continuous glucose monitoring systems is expected to rise as a result of increasing need for real-time glucose monitoring and related technological developments.

Rising incidence of diabetes across the globe is one of the major factors driving continuous glucose monitoring market revenue growth. The prevalence of diabetes is increasing, which is leading to rising need for continuous glucose monitoring devices, which assist in more accurate and continuous monitoring of blood glucose levels. Also, the market is growing as more people become aware of advantages of continuous glucose monitoring devices, including their capacity to prevent hypoglycemia, lower their risk of complications, and enhance their quality of life.

The development of continuous glucose monitoring technology is a significant component in revenue growth of the continuous glucose monitoring market. More precise and dependable continuous glucose monitoring devices have emerged as a result of development of sophisticated sensors, algorithms, and mobile applications. The utility and convenience of Continuous Glucose Monitoring (CGM) devices for patients are also rising as a result of their integration with insulin pumps and other diabetes care systems. Also, the availability of data-driven insights and improved patient outcomes have enhanced the adoption of CGM devices by healthcare practitioners.

The demand for continuous glucose monitoring devices has been further spurred by growing uptake of telemedicine and remote patient monitoring services. Continuous glucose monitoring devices have a higher rate of adoption and a growing market due to the simplicity with which they may be used to access healthcare services and their ability to perform remote monitoring. In addition to the aforementioned elements, the continuous glucose monitoring industry has grown as a result of advantageous reimbursement rules and activities by public and private entities. For instance, the Centers for Medicare & Medicaid Services (CMS) in the U.S. have widened its reimbursement guidelines for CGM devices, increasing patient access to and affordability of these devices. Similar programs have been started by the National Health Service (NHS) in the U.K. to increase the use of CGM devices among diabetic patients.

However, several constraints, such as high device costs and a lack of awareness in emerging nations, are also limiting revenue growth of the continuous glucose monitoring market. The prohibitive price of continuous glucose monitoring devices prevents poor communities and low-income nations from utilizing them. A further factor in the low uptake and utilization rates of continuous glucose monitoring devices is the lack of education and training among medical practitioners.

The continuous glucose monitoring market is expected to experience significant revenue growth over the forecast period due to several factors, including an increase in the prevalence of diabetes, technological advancements, the adoption of remote patient monitoring, and favorable reimbursement regulations. However, constraints including high equipment costs and a lack of knowledge and training among healthcare practitioners in emerging nations restrict market revenue growth.

Major Companies and Competitive Landscape:

The global continuous glucose monitoring market is expected to witness significant growth over the forecast period, with a number of major players accounting for a majority of market revenue. These players are deploying various strategies, including mergers & acquisitions, strategic agreements & contracts, and product launches, in order to enhance their market presence and expand their product offerings. Some major companies included in the global continuous glucose monitoring market report are:

• Abbott Laboratories
• Dexcom Inc.
• Medtronic plc
• Senseonics Holdings Inc.
• Insulet Corporation
• Ypsomed AG
• GlySens Inc.
• Nemaura Medical Inc.
• Echo Therapeutics
• Roche Diagnostics

Continuous Glucose Monitoring Market Segmentations: