Continuous Glucose Monitoring: A Sensor Revolution for Diabetes Management (2024-2028)

Continuous Glucose Monitoring (CGM) Sensors Market worth $ 11.7 Billion by 2028 - Exclusive Report by Insightace Analytics

Insightace Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Continuous Glucose Monitoring (CGM) Sensors Market- by Products (Non-invasive Sensing and Minimally Invasive Sensing), Sensing Technology (Enzyme Electrode, Optical Fluorescence and Others),

End-Users (Hospitals and Home care, Specialty Clinics, Ambulatory Settings and Others), Patient Population (Children and Teenagers and Adults), Sensor Sites (Abdomen, Upper Arm (implanted), Back of Upper Arms and Other (Abdomen and Buttocks)), Trends, Industry Competition Analysis, Revenue and Forecast To 2028."

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Continuous Glucose Monitoring Sensors Market: Poised for Explosive Growth Despite Pandemic Challenges

The global market for continuous glucose monitoring (CGM) sensors is poised for significant growth, with InsightAce Analytics estimating a promising US$3.6 billion in 2021 and a projected reach of a staggering US$11.7 billion by 2028. This translates to a robust 18% Compound Annual Growth Rate (CAGR), highlighting the immense potential of this sector.

Fueling the Demand: A Growing Diabetic Population
Diabetes, a complex chronic condition requiring ongoing management, is a major driver for CGM sensors. With nearly 25% of adults over 65 diagnosed with diabetes and a predicted rise in coming decades, the need for effective glucose monitoring solutions is paramount.

CGM: Empowering Better Diabetes Management
CGM systems offer a superior alternative to traditional finger pricking. They

provide real-time blood glucose data, enabling patients to:

• Identify and address high blood sugar levels quickly.
• Make informed decisions regarding meals, medication, and physical activity.
• Reduce errors associated with manual monitoring.

This comprehensive data empowers better diabetes management for both Type 1 and Type 2 patients, offering a clearer picture of blood sugar levels during critical times like sleep, exercise, and stressful situations.
Market Growth Drivers: A Perfect Storm

Several factors are propelling the CGM sensor market forward:

• Rising Prevalence of Diabetes: The increasing number of individuals diagnosed with Type 1 and Type 2 diabetes creates a larger market base for CGM technology.

• Enhanced Sensor Adoption: Growing patient acceptance and awareness of CGM benefits are driving wider adoption of these devices.

• Technological Advancements: Continuous innovation in diabetic devices is leading to more user-friendly, accurate, and efficient CGM sensors.

• Increased Healthcare Funding: Growing government and private healthcare funding for diabetes management is facilitating wider access to CGM technology.

• Wearable Tech Integration: The rising popularity of wearable medical devices creates new opportunities for integrating CGM sensors seamlessly into patients' lives.

• Improved Wireless Technology: Advancements in wireless technology are enhancing data transmission efficiency and reliability for CGM sensors.

• Miniaturized Implantable Systems: The development of smaller, more comfortable implantable CGM systems presents exciting possibilities for long-term monitoring.

COVID-19 Impact: A Catalyst for Change
The COVID-19 pandemic has significantly impacted the CGM sensor market. Studies published in Diabetes Care highlight the potential of CGM technology in hospital settings, reducing personal protective equipment (PPE) usage and exposure risk for healthcare personnel. This underscores the potential of CGM for improved patient care beyond traditional applications.

Geographic Landscape: A Look at Key Regions

• North America: Early adoption of cutting-edge healthcare technologies positions North America as a leader in the CGM sensor market. This, coupled with rising product innovation and increasing demand for CGM in diabetes management, sets a strong foundation for continued growth.

• Asia Pacific: This region, with its vast patient population, emerging economies, and growing collaboration between local and international players, presents immense potential for CGM sensor market expansion.
Looking Ahead: A Promising Future

Despite the challenges posed by the pandemic, the CGM sensor market is poised for explosive growth. Technological advancements, rising patient awareness, and a growing diabetic population create a strong foundation for this market's expansion. As CGM technology becomes more accessible and user-friendly, it has the potential to revolutionize diabetes management, empowering patients to take control of their health and live better lives.

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Major market players operating in the Continuous Glucose Monitoring (CGM) Sensors market include
Medtronics, Abbott, Senseonics, WaveForm Technologies, Inc., Advanced Biosensors-Ohio LLC, Arkal Medical, Inc., Ascensia Diabetes Care Holdings AG, Azurite Technologies, Inc., Biorasis Inc, Biovotion AG, CALISTO MEDICAL, INC., CGM3 Ltd, ConvaTec Group Plc, Cyber Medical Ltd, Debiotech SA, DexCom Inc, DirectSens GmbH, Echo Therapeutics Inc, Ecole Polytechnique Federale de Lausanne, eLutions Integrated Systems, Inc., EyeSense GmbH,

Flowsion A/S, Gili Medical Ltd, Globe Medical Tech Inc, GlucoLight Corporation, Glucometrix AG, Glucosense Diagnostics Ltd, GlucoSet AS, Glucovation Inc, GluMetrics Inc, Glusense Ltd, GlySens Inc, Glysure Ltd, G-Sense Ltd., iGlyko, Inc., Indigo Diabetes NV, Innovosens AB, Insulet Corp, Integrated Medical Sensors, Integrity Applications Ltd, Invivosense ASA, I-Sens Inc, iSense Corporation, Keratin Biosciences Inc,

Kiffik Biomedical inc., LEMM Technologies, LLC, Mellitor Ltd, Metronom Health Inc, mobiLIFE, Nemaura Medical Inc, Newton Photonics Inc, Orsus Medical Ltd, PKvitality, PositiveID Corp, Prediktor Medical AS, Profusa Inc, Purdue University, San Meditech (Huzhou) Co., Ltd., Senseonics Holdings Inc, SensiVida Medical Technologies, Inc., Senzime AB, Singapore Biomicro Pte Ltd, Socrates Health Solutions, Inc., Tenax Therapeutics Inc, VeriTeQ Corporation, Vytrace, Inc., and Other Prominent Players.

Recent collaborations and agreements in the market:

• In May 2021, Medtronic achieved CE clearance for prolonged use of its InPen smart insulin pen for multiple daily injections (MDI) and its Guardian 4 sensor for enhanced diabetes management.

• In November 2020, according to a recent announcement from Abbott, women in India who have gestational diabetes (diabetes during pregnancy) and adults and children (over the age of four) who have diabetes now have access to the FreeStyle Libre system, continuous glucose monitoring (CGM) technology, allowing them to check their blood sugar levels at any time.

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Market Segments
Global Continuous Glucose Monitoring (CGM) Sensors Market, by Products, 2022-2028 (Value US$ Mn)

• Non-invasive Sensing
• Minimally Invasive Sensing

Global Continuous Glucose Monitoring (CGM) Sensors Market, by Sensing Technology, 2022-2028 (Value US$ Mn)

• Enzyme Electrode
• Optical Fluorescence
• Others

Global Continuous Glucose Monitoring (CGM) Sensors Market, by End-Users, 2022-2028 (Value US$ Mn)

• Hospitals and Home care
• Specialty Clinics
• Ambulatory Settings
• Others

Global Continuous Glucose Monitoring (CGM) Sensors Market, by Patient Population, 2022-2028 (Value US$ Mn)

• Children and Teenagers
• Adults

Global Continuous Glucose Monitoring (CGM) Sensors Market, by Sensor Sites, 2022-2028 (Value US$ Mn)

• Abdomen
• Upper Arm (implanted)
• Back of Upper Arm
• Other (Abdomen and Buttocks)

Global Continuous Glucose Monitoring (CGM) Sensors Market, by Region, 2022-2028 (Value US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2022-2028 (Value US$ Mn)

• U.S.
• Canada

Europe Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2022-2028 (Value US$ Mn)

• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2022-2028 (Value US$ Mn)

• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2022-2028 (Value US$ Mn)

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Continuous Glucose Monitoring (CGM) Sensors Market, by Country, 2022-2028 (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 2028
 Significant investments, mergers & acquisitions in the Continuous Glucose Monitoring (CGM) Sensors market industry

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