Continuous Glucose Monitoring Market Introduction and Overview
According to SPER Market Research, the Global Continuous Glucose Monitoring Market is estimated to reach USD 34.93 billion by 2033 with a CAGR of 13.14%.
The report includes an in-depth analysis of the Global Continuous Glucose Monitoring Market, including market size and trends, product mix, applications, and supplier analysis. Continuous glucose monitoring systems are real-time glucose sensing and monitoring devices that test and show a patient's glucose levels at predetermined intervals. CGM is becoming increasingly popular as an alternative to traditional glucose monitoring devices because it is more user-friendly, provides access to real-time measurements and trends, and improves accuracy.
- In 2024, the Dexcom Stelo Glucose Biosensor System will be the first over-the-counter continuous glucose monitor after receiving FDA approval for sale.
- In January 2024, Medtronic's MiniMed 780G system will include Simplera Sync, a disposable continuous glucose monitor that eliminates the need for fingersticks. It has a simple two-step insertion technique and is half the size of prior Medtronic sensors, resulting in a better user experience.
- CareSens Air, a portable glucose monitoring gadget authorised by the South Korean Ministry, was introduced by I-SENS in June 2023. It contains a calibration mechanism for precise readings and lasts for 15 days.
Market Opportunities and Challenges
Opportunities-
Developments in CGM Device Technology : Modern continuous glucose monitors are becoming more and more popular because of their improved networking characteristics. These devices have a number of benefits, such as wireless connectivity, customised glucose monitoring, insulin pump integration, and a blend of artificial intelligence and machine learning. The use of electrochemical sensors based on enzymes in CGM devices, which give consumers accurate and trustworthy information, is another example of such innovation. A large number of CGM systems that are minimally invasive rely on enzymes. Users are able to track their glucose levels in real time with CGMs because to its wireless networking function with cellphones. When combined with insulin pumps, this offers a major advantage in the management of diabetic care: insulin levels can be adjusted based on blood glucose levels.
Challenges- The most significant barrier is the high cost of CGM devices. The monthly cost of a CGM can range from $100 to $300, depending on the pharmacy and brand. It includes both sensors and transmitters, while at-home sensors only last 10-14 days. The sensors must be replaced two to three times every month. A one-time CGM reader could cost anywhere between $60 and $80. CGM systems have an upfront equipment cost, recurrent sensor replacement expenses, and sensor costs for continuous monitoring. Even though the cost of CGM devices has decreased over time, it remains a significant factor in deciding how economical and accessible they are, particularly in places with limited access to healthcare.
Market Competitive Landscape
The Continuous Glucose Monitoring market is highly consolidated, with major corporations and specialists leading the way. Abbott, Dexcom, and Medtronic dominate the market for continuous glucose monitoring, owing to their existing brand recognition and extensive R&D capabilities. The market has seen little M&A activity, with companies focussing on organic expansion and strategic alliances to diversify their product ranges.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By End User.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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| Companies Covered | Abbott, Dexcom Inc, A. Menarini Diagnostics S.r.l, Ypsomed AG, F. Hoffmann-La Roche Ltd, Medtronic, Senseonics Holdings Inc, Medtrum Technologies, Nemaura Medical Inc. |
COVID-19 Impact on Global Continuous Glucose Monitoring Market
The COVID-19 epidemic had a major effect on the growth of the continuous glucose monitoring business. The market initially experienced a setback as a result of the lockdown's implementation and the strict rules that the authorities enforced. Continuous glucose monitoring (CGM), which helps treat diabetes successfully, became more and more popular during this epidemic as a self-management tool. Additionally, because of the increased demand after the lockdown, the pricing of the products quickly decreased, making them extremely cheap for the general public. This increased the sales of continuous glucose monitoring devices. Furthermore, the demand for diabetes care devices, such as CGM and self-monitoring blood glucose monitors, surged during the pandemic since individuals with diabetes are more susceptible to COVID-19.
Sensor Insights- The sensors sector dominates the Continuous Glucose Monitoring (CGM) market, playing an important role in supplying real-time glucose data, which is the cornerstone of successful diabetes care. Continuous technical developments have considerably improved sensor accuracy, extended wear periods, and increased overall user comfort, propelling the market to leadership. These advancements have helped change patient preferences from standard blood glucose monitoring methods to more modern CGM devices.
Key Target Audience:
- Diabetes Patients and Caregivers
- Hospitals and Clinics
- Diabetes Care Centers
- Healthcare Providers (Endocrinologists, Diabetologists, General Practitioners)
- Continuous Glucose Monitoring Device Manufacturers
- Medical Device Distributors and Suppliers
- Pharmaceutical and Biotechnology Companies
- Health Insurance Companies and Payers
- Government and Regulatory Bodies
- Academic and Research Institutions
- Investors and Venture Capitalists
- Diabetes Advocacy Groups and Nonprofits
- Retail Pharmacies
Our in-depth analysis of the Continuous Glucose Monitoring Market includes the following segments:
| By Component: | Sensors Durables (Receivers and Transmitters) |
| By End User: | Hospital/Clinics Home/Personal |
Key Topics Covered in the Report:
- Global Continuous Glucose Monitoring Market Size (FY’2024-FY’2033)
- Overview of Global Continuous Glucose Monitoring Market
- Segmentation of Global Continuous Glucose Monitoring Market by Component {Sensors, Durables (Receivers and Transmitter)}
- Segmentation of Global Continuous Glucose Monitoring Market by End User (Hospital/Clinics, Home/Personal)
- Statistical Snap of Global Continuous Glucose Monitoring Market
- Expansion Analysis of Global Continuous Glucose Monitoring Market
- Problems and Obstacles in Global Continuous Glucose Monitoring Market
- Competitive Landscape in the Global Continuous Glucose Monitoring Market
- Impact of COVID-19 and Demonetization on Global Continuous Glucose Monitoring Market
- Details on Current Investment in Global Continuous Glucose Monitoring Market
- Competitive Analysis of Global Continuous Glucose Monitoring Market
- Prominent Players in the Global Continuous Glucose Monitoring Market
- SWOT Analysis of Global Continuous Glucose Monitoring Market
- Global Continuous Glucose Monitoring Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Continuous Glucose Monitoring Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Continuous Glucose Monitoring Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Continuous Glucose Monitoring Market
7. Global Continuous Glucose Monitoring Market, By Component (USD Million) 2020-2033
7.1. Global Continuous Glucose Monitoring Market Size, Share and Forecast, By Component, 2020-2026
7.2. Global Continuous Glucose Monitoring Market Size, Share and Forecast, By Component, 2027-2033
7.3. Sensors
7.4. Durables (Receivers and Transmitters)
8. Global Continuous Glucose Monitoring Market, By End User (USD Million) 2020-2033
8.1. Global Continuous Glucose Monitoring Market Size, Share and Forecast, By End User, 2020-2026
8.2. Global Continuous Glucose Monitoring Market Size, Share and Forecast, By End User, 2027-2033
8.3. Hospital/Clinics
8.4. Home/Personal
9. Global Continuous Glucose Monitoring Market Forecast, 2020-2033 (USD Million)
9.1. Global Continuous Glucose Monitoring Market Size and Market Share
10. Global Continuous Glucose Monitoring Market, By Region, 2020-2033 (USD Million)
10.1. Global Continuous Glucose Monitoring Market Size and Market Share By Region (2020-2026)
10.2. Global Continuous Glucose Monitoring Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. Abbott
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Dexcom Inc
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. A. Menarini Diagnostics S.r.l
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Ypsomed AG
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. F. Hoffmann-La Roche Ltd
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Medtronic
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Senseonics Holdings Inc
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Medtrum Technologies
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Nemaura Medical Inc
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links