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Global Continuous Glucose Monitoring Systems Market to Reach US$ 9.56 Billion by 2027, Impelled by Rising Geriatric Population

Published on Nov 16, 2022

According to the latest report by IMARC Group, titled “Continuous Glucose Monitoring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global continuous glucose monitoring systems market reached a size of US$ 5.46 Billion in 2021. Continuous glucose monitoring  systems (CGMS) are medical devices that track blood glucose levels throughout the day using small sensors inserted under the skin. They consist of sensors, transmitters, and receivers to collect, measure, and display glucose level data. CGMS aid in monitoring glucose trends over time by providing valuable information at crucial points, such as before and during exercise and in the middle of the night. These devices also offer a complete diabetes profile, detect patterns, and evaluate and measure the effects of diet, medications, and physical activity on sugar levels, thus reducing the chances of hypo/hyperglycemia. As compared to conventional glucose monitoring machines, CGMS are painless and minimize the number of finger-prick tests, as it uses interstitial fluid to measure glucose levels instead of blood.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Continuous Glucose Monitoring Systems Market Trends:

The rising prevalence of diabetes due to sedentary lifestyles and obesity is one of the primary factors driving the market growth. CGMS is widely used to track glucose levels in real-time, which aids in determining the effectiveness of treatment plans and allows patients to make more informed decisions regarding physical activity, a balanced diet, and medications. Furthermore, rising product adoption among patients using intensive insulin therapy to improve glycemic control, reduce the occurrence of hypoglycemia events, and assist in tailoring the insulin doses to improve hemoglobin A1c (HbA1c) levels is creating a positive outlook for the market. Additionally, the integration of artificial intelligence (AI) to develop a decision support system that provides advanced diabetes management through personalized insulin bolus calculation, adaptive tuning of bolus calculator parameters, and glucose prediction is providing an impetus to the market growth. Moreover, the implementation of various government initiatives to manage diabetes at a larger scale and spread awareness regarding preventive care measure is facilitating the market growth. Other factors, including rising health consciousness among consumers, extensive research and development (R&D) activities, and easy product availability across various e-commerce platforms, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 9.56 Billion by 2027, exhibiting a CAGR of 9.50% during 2022-2027.

Market Summary:

  • On the basis of the component, the market has been divided into sensors, transmitters and receivers, and integrated insulin pumps.
  • Based on the demographics, the market has been bifurcated into child (≤14 years) and adult population (>14 years).
  • On the basis of the end user, the market has been divided into clinics and diagnostics centers, ICUs, and home healthcare.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being A. Menarini Diagnostics S.r.l., Abbott Laboratories, DexCom Inc., F. Hoffmann-La Roche AG, Glysens Incorporated, LifeScan Inc. (Johnson & Johnson), Medtronic PLC, Medtrum Technologies Inc., Nemaura Medical Inc., Novo Nordisk A/S, Senseonics Holdings Inc. and Waveform Technologies Inc.
     

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