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Global Continuous Glucose Monitoring (CGM) Sensors Market– By Trends, Industry Competition Analysis, Revenue and Forecast to 2030
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According to the latest research by InsightAce Analytic, the global continuous glucose monitoring (CGM) sensors market is valued at US$ XX million, and it is expected to reach US$ XX million by 2030 with a CAGR of XX% during a forecast period. By region, North America dominated the market with a share of XX% in 2020.
Continuous glucose monitoring devices help to detect blood glucose levels in the body. CGM systems are the best way to control and manage diabetes. These devices provide various details to patients such as diet details, time reminders, medication, physical activities, diseases information and may reduce the errors in manual glucose monitoring.
Factors driving the market's growth include the high prevalence of diabetes, growing geriatric population, increasing health-conscious people, adoption of new technologies by clinical centers, availability of time-saving & cost-effective devices, and rising government initiatives to improve manufacturing processes. Moreover, the COVID-19 pandemic had positively impacted the continuous glucose monitoring sensors market in 2020.
According to the world health organization (WHO), diabetes is one of the leading causes of death globally. Approximately 422 million people around the world have diabetes, the majority living in low-and middle-income countries, and every year around 1.5 million deaths are caused due to diabetes. Therefore, this increasing number of cases and prevalence of diabetes is likely to compel the demand for continuous glucose monitoring (CGM) sensors in the forthcoming years.
However, the high cost of continuous glucose monitoring systems, poor reimbursement policies, and low risk-taking nature of pharmaceutical companies are expected to restrain the growth of this market in the upcoming future.
Geographically, North America is expected to dominate the continuous glucose monitoring (CGM) sensors market during the forecast period due to the fast advancements in medical technologies, high prevalence of diabetes, and rising government investments for healthcare research. Apart from this, Asia Pacific is estimated to be the fastest-growing regional market in the next few years, owing to the growing awareness about continuous glucose monitoring systems/sensors and increasing healthcare expenditure.
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Major players operating in the continuous glucose monitoring (CGM) sensors market are Medtronic plc (Ireland), Dexcom (US), Senseonics (US), WaveForm Technologies, Inc. (US), Abbott Diabetes Care Inc (US), Arkal Medical, Inc. (Japan), Ascensia Diabetes Care Holdings AG (Switzerland), Biorasis Inc (US), Debiotech SA (Switzerland), DirectSens GmbH (Austria), Echo Therapeutics Inc (US), EyeSense GmbH(Germany), Flowsion A/S (Denmark), GlucoSet AS (US), Glucovation Inc (US), Glusense Ltd (Israel), GlySens Inc (US), iGlyko, Inc. (US), Indigo Diabetes NV(Belgium), Insulet Corp (US), Integrated Medical Sensors (US), Integrity Applications Ltd (Israel), I-Sens Inc (South Korea), Metronom Health Inc (US), Nemaura Medical Inc (US), PKvitality (France), Prediktor Medical AS (Norway), Profusa Inc (US), San Meditech (Huzhou) Co.Ltd. (China), Senzime AB (Sweden), Socrates Health Solutions, Inc. (US), and others.
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Key developments in the market:
• In May 2020, Medtronic plc (Ireland) received U.S. FDA approval for the Android version of its Guardian Connect continuous glucose monitoring (CGM) system. The Guardian Connect system is a standalone CGM system that alerts patients of potential high or low sensor glucose events up to 60 minutes in advance and provides confidence to people living with diabetes who worry about fluctuating glucose levels and dangerous low glucose events.
• In September 2020, Abbott (US), the leader in continuous glucose monitoring (CGM) technology, secured CE Mark for its next-generation FreeStyle Libre 3 system. This technology offers continuous, real-time glucose readings automatically delivered to smartphones every minute, providing unsurpassed 14-day accuracy in the smallest and thinnest sensor design at an affordable price.
Market Segments
Global Continuous Glucose Monitoring (CGM) Sensors Market, by Products, 2020-2030 (Value US$ Mn)
• Non-invasive Sensing
• Minimally Invasive Sensing
Global Continuous Glucose Monitoring (CGM) Sensors Market, by Sensing Technology, 2020-2030 (Value US$ Mn)
• Enzyme Electrode
• Optical Fluorescence
• Others
Global Continuous Glucose Monitoring (CGM) Sensors Market, by End-Users, 2020-2030 (Value US$ Mn)
• Hospitals and Homecare
• Specialty Clinics
• Ambulatory Settings
• Others
Global Continuous Glucose Monitoring (CGM) Sensors Market, by Patient Population, 2020-2030 (Value US$ Mn)
• Children and Teenagers
• Adults
Global Continuous Glucose Monitoring (CGM) Sensors Market, by Sensor Sites, 2020-2030 (Value US$ Mn)
• Abdomen
• Upper Arm (implanted)
• Back of Upper Arm
• Other (Abdomen and Buttocks)
Global Continuous Glucose Monitoring (CGM) Sensors Market, by Region, 2020-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2020-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2020-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2020-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2020-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2020-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global continuous glucose monitoring (CGM) sensors market
To receive an industry overview and future trends of the continuous glucose monitoring (CGM) sensors market
To analyze the continuous glucose monitoring (CGM) sensors market drivers and challenges
To get information on the continuous glucose monitoring (CGM) sensors market value (US$ Mn) forecast to 2030
Significant investments, mergers & acquisitions in the continuous glucose monitoring (CGM) sensors market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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