Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 12.51 Billion in 2030

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the continuous glucose monitoring devices market. Coherent Market Insights’ analyst projected the continuous glucose monitoring devices market to be valued at US$ 12.51 Bn 2030. It is expected to exhibit a CAGR of 9.9% over the forecast period 2023 -2030.

Rising prevalence of diabetes and increasing awareness regarding diabetes management drives market growth. According to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 643 million by 2030 and 783 million by 2045.

Continuous glucose monitoring devices aid in effective management of blood glucose levels in diabetes patients. Moreover, technological advancements in continuous glucose monitoring systems resulting in improved efficacy, compact size, and easy to use features also boost the market growth.

Key Market Trends:

Sensor Miniaturization is key trend driving market growth. For instance, the Eversense XL continuous glucose monitoring system developed by Senseonics uses a miniaturized flexible ball-shaped sensor. It is implanted just under the skin of upper arm using a convenient “inserter” tool. The small size and ease of use of such novel systems is anticipated to drive their adoption.

Cloud Based Data Management: Another key trend driving market growth is cloud-based data management. Major players are focusing on development of cloud-based data management platforms to securely store, track, and share glucose readings with physicians and caregivers remotely.

 Continuous Glucose Monitoring Devices Market Opportunities

By component:  Within the sensors segment, the interstitial fluid glucose sensors are expected to hold a dominant position over the forecast period. These sensors continuously monitor glucose levels in the interstitial fluid, which is located in the spaces between the cells just beneath the skin.

The transmitter and receivers’ segment is another major opportunity in the continuous glucose monitoring devices market. Advances in transmitter technologies have improved accuracy, longevity, and convenience of use. The user-friendly features of modern transmitters and receivers improve patient engagement and clinical outcomes.

Key Market Takeaways

The continuous glucose monitoring devices market is anticipated to witness a CAGR of 9.9% during the forecast period 2023-2030. This is due to the growing diabetic population and rising adoption of minimally invasive monitoring devices.

On the basis of component, the interstitial fluid glucose sensors segment is expected to hold a dominant position. This is due to their ability to closely mirror blood glucose levels under the skin.

By end user, the home care segment is expected to hold the largest market share over the forecast period. Continuous glucose monitors help achieve better glycemic control when used at home compared to self-monitoring of blood glucose (SMBG) alone.

North America is expected to dominate the continuous glucose monitoring devices market through 2030. This is due to favorable reimbursement policies and higher healthcare expenditures drive early adoption of novel diabetes management technologies in the region.

Competitor Insights

Key players operating in the continuous glucose monitoring devices market include:

Medtronic
Dexcom, Inc.
Abbott
Novo Nordisk A/S
Ypsomed
GlySens Incorporated
Hoffmann-La Roche Ltd.

Recent Developments: 

In February 2023, Dario Health Corp. announced a partnership with Dexcom to integrate its CGM into Dario’s multi-chronic disease platform. This partnership allows for the direct integration of data from Dexcom CGMs into Dario’s metabolic solution, allowing wearable device users to benefit from Dario’s highly tailored support.
In December 2022, Dexcom announced that the FDA had cleared its G7 continuous glucose monitoring (CGM) device. The latest iteration of its CGM, which may be used by persons with all forms of diabetes aged 2 and up, is scheduled to be released in the United States.

More information is available in full report