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Global Continous Blood Glucose Monitoring Market Comprehensive Study: Forecasted Market Size And Growth Rate | F. Hoffmann-La Roche Ltd., Lifescan Inc., Medtronic plc., Abbott Laboratories, GlySens Inc
Continous Blood Glucose Monitoring Market Characteristics
The Business Research Company offers in-depth market insights through Continous Blood Glucose Monitoring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The continous blood glucose monitoring market size has grown rapidly in recent years. It will grow from $8.09 billion in 2023 to $9.68 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to increase in diabetes prevalence, regulatory compliance, demand for remote monitoring, emerging markets, rise in healthcare spending.
The continous blood glucose monitoring market size is expected to see exponential growth in the next few years. It will grow to $20.44 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth in the forecast period can be attributed to growing aging population, rising home healthcare, telehealth expansion, rise in healthcare expenditure, rise in disposable income. Major trends in the forecast period include wearable integration, artificial intelligence and machine learning, advanced sensors and accuracy, partnerships and collaboration.
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Market Segmentation:
The main types of components in continuous blood glucose monitoring devices are insulin pumps, sensors, transmitters, and receivers. Insulin pumps are small, computerized devices designed and programmed to deliver pre-determined doses of insulin in diabetic patients at specific intervals. These devices are used by type 1 diabetic patients, type 2 diabetic patients, gestational diabetes, and critical care patients which are used by various end-users, including hospitals, homecare diagnostics, and other end users.
Major Driver - Rising Diabetes Prevalence Fuels Growth In Continuous Blood Glucose Monitoring Market
The increase in the prevalence of diabetes is expected to propel the growth of the continuous blood glucose monitoring market going forward. Diabetes is a health disease that occurs when the blood glucose levels fluctuate in the body. Blood glucose monitoring devices can aid in the detection of trends and patterns that give a better full picture of a diabetic's condition. For instance, in July 2021 the International Diabetes Federation (IDF), a Germany-based umbrella organization of over 240 national diabetes associations stated in its IDF Diabetes Atlas 10th edition that the estimated global population of individuals living with diabetes is expected to increase to 643 million by 2030 and further to 783 million by 2045, up from approximately 537 million adults aged 20 to 79 living with diabetes in the year 2021. Therefore, the increasing prevalence of diabetes is driving the continuous blood glucose monitoring market growth going forward.
Competitive Landscape:
Major companies operating in the continous blood glucose monitoring market include F. Hoffmann-La Roche Ltd., Lifescan Inc., Medtronic plc., Abbott Laboratories, GlySens Inc., Arkray, Senseonics Holdings Inc., Glysure Limited, Nemaura Medical Inc., Tandem Diabetes Care Inc., Goldsite Diagnostics Inc., AgaMatrix Inc., B. Braun Melsungen AG, Ypsomed Holding AG, Terumo Corporation, Orsense Ltd., Dexcom Inc., A. Menarini Diagnostics, Echo Therapeutics Inc., Johnson & Johnson Services Inc., Ascensia Diabetes Care Holdings AG, Insulet Corporation, Medtrum Technologies Inc., Texas Instruments Inc., Beta Bionics Inc., Bigfoot Biomedical Inc., One Drop Inc., DarioHealth Corp., MedAngel BV, GluSense Ltd., PKvitality, Nemotecnia S.A.
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Top Trend - Technological Advancements Driving Growth In The Continuous Blood Glucose Monitoring Market
Technological advancements have emerged as a key trend gaining popularity in the continuous blood glucose monitoring market. Major companies operating in the continuous blood glucose monitoring market are focused on developing advanced technological solutions to strengthen their position in the market. For instance, in 2021, Philips, a Netherlands-based health technology company that manufactures glucose monitoring devices launched non-invasive monitors for COPD patients based on ExpiraFlow technology. The non-invasive monitors help health care professionals to detect and screen the expiratory flow limitation and can also be used in optimal home care therapy.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Continous Blood Glucose Monitoring Market Characteristics
3. Continous Blood Glucose Monitoring Market Trends And Strategies
4. Continous Blood Glucose Monitoring Market - Macro Economic Scenario
5. Continous Blood Glucose Monitoring Market Size And Growth
…..
27. Continous Blood Glucose Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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