Press release
Continuous Glucose Monitoring (CGM) Sensors Market Size to Expand Lucratively by 2031
Continuous Glucose Monitoring (CGM) Sensors Market
"Continuous Glucose Monitoring (CGM) Sensors Market- By Trends, Industry Competition Analysis, Covid-19 Analysis, Revenue (US$ Billions) and Forecast Till 2028." is a recently released report that covers the market in great detail and examines its key factors.
The global market for continuous glucose monitoring (CGM) sensors was estimated to be worth US$ 3.6 billion in 2021 and is projected to grow toUS$ 11.7 billion in 2028, with a promising compound annual growth rate (CAGR) of 18% between 2021 and 2028, according to a market intelligence study analysis by InsightAce Analytic.
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Beyond glucose management, diabetes is a complicated, chronic condition that requires continuous medical care and a variety of risk-reduction strategies. About 25% of people over 65 have diabetes, and this percentage is expected to climb sharply in the ensuing decades, making diabetes a major health concern for the elderly. In 2018, 34.2 million Americans, or 10.5% of the population suffering from diabetes, according to data from the American Diabetes Association. Nearly 1.6 million Americans, including 187,000 children and adolescents, suffer from type 1 diabetes. People with type 1 and type 2 diabetes can effectively manage their condition by using Continuous Glucose Monitoring (CGM) sensors, which provide a comprehensive picture of their blood sugar levels at key points throughout the day, including while driving, before and during physical activity, during tests or exams, and in the middle of the night. After determining the amount of glucose present in the fluid beneath the skin,the continuous glucose monitoring sensor sends data to a recorder or transmitter. There are three types of CGM sensors: noninvasive, minimally invasive, and invasive (fully implanted). Research has shown that continuous glucose monitoring (CGM) systems can help people maintain stable blood glucose levels, decrease hypoglycemic and hyperglycemia episodes, and reduce the risk of complications from diabetes.
market is expected to be driven by factors including rising Type 1 and Type 2 diabetes prevalence, rising sensor device penetration, technological improvements in diabetic devices, and diabetes finance. A continuous Glucose monitoring device can help patients better manage and control their condition. Therefore, a continuous glucose monitoring device can help individuals with types 1 and 2 diabetes receive the care they require. Significant growth opportunities are anticipated throughout the forecast period due tothe growing use of wearable medical devices and advancements in wireless technology for CGM sensors. In the approaching years, the developing field of micro-and nanofabrication-the miniaturization of electrochemical-based implanted CGM devices-is anticipated to present profitable growth prospects.
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The COVID-19 outbreak substantially impacts Continuous Glucose Monitoring (CGM) Sensors. The COVID-19 epidemic has brought a new urgency to the need to investigate the practicality of CGM in the hospital to preserve personal protective equipment (PPE) and reduce health care workers' exposure, according to a research report published in Diabetes Care Journal in November 2020.
The players involved in the Continuous Glucose Monitoring (CGM) Sensors industry 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.
Key Industry Developments from Leading Players:
• In May 2021, Medtronic received CE approval for the extended use of its InPen smart insulin pen for multiple daily injections (MDI) and its Guardian 4 sensor for improved diabetes control
• In November 2020, Abbott announced that the FreeStyle Libre system,continuous glucose monitoring (CGM) technology, is now available for adults and children (over the age of four) living with diabetes in India, as well as women with gestational diabetes (diabetes during pregnancy), giving them the option to check glucose levels at any time.
• In November 2019, WaveForm Technologies Inc.'s Cascade Continuous Glucose Monitoring (CGM) system gained CE Mark (Conformité Européenne) clearance. The product's commercialization for the European market is expected to begin in a few nations. This revolutionary technology uses a small, disposable sensor that may be worn on the body for up to 14 days to continually monitor glucose levels in interstitial fluid. The sensor and Bluetooth transmitter work together to correctly measure and transmit glucose data to the mobile app every minute, eliminating the need for a separate receiver
Continuous Glucose Monitoring (CGM) Sensors Market Regional Analysis:
Due to the healthcare industry's early acceptance of innovative technology, North America has the highest penetration of CGM sensors. The Quick rise in product innovation and the rising need for these CGM systems in the treatment of diabetes are further factors driving the demand for products worldwide. Due to the presence of a broad patient pool, developing economies, and increased cooperation between domestic and international efforts in these regions, this business is also experiencing significant demand in Europe and the Asia Pacific. The market for CGM sensors is expected to grow rapidly due to the expansion of healthcare infrastructure in Asia Pacific and Europe.
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The Continuous Glucose Monitoring (CGM) Sensors Market Segments
The Continuous Glucose Monitoring (CGM) Sensors Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Products
• Noninvasive Sensing
• Minimally Invasive Sensing
The Continuous Glucose Monitoring (CGM) Sensors Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Sensing Technology
• Enzyme Electrode
• Optical Fluorescence
• Others
The Continuous Glucose Monitoring (CGM) Sensors Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on End-users
• Hospitals and Home care
• Specialty Clinics
• Ambulatory Settings
• Others
The Global Continuous Glucose Monitoring (CGM) Sensors Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Patient Population
• Children and Teenagers
• Adults
The Global Continuous Glucose Monitoring (CGM) Sensors Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Sensor Sites
• Abdomen
• Upper Arm (implanted)
• Back of Upper Arm
• Other (Abdomen and Buttocks)
The Global Continuous Glucose Monitoring (CGM) Sensors Market Estimates (Value US$ Million) & Forecasts and Trend Analyses, 2019 to 2030 based on Region
• Europe
• North America
• Latin America (LATAM)
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
North America Continuous Glucose Monitoring (CGM) Sensors Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
• U.S.
• Canada
Europe Continuous Glucose Monitoring (CGM) Sensors Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
• Germany
• France
• Italy
• Russia
• Spain
• Rest of Europe
APAC Continuous Glucose Monitoring (CGM) Sensors Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
• Japan
• India
• China
• Australia & New Zealand
• South Korea
• Rest of Asia Pacific
LATAM Continuous Glucose Monitoring (CGM) Sensors Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
• Brazil
• Mexico
• Rest of Latin America
The Middle East & Africa Continuous Glucose Monitoring (CGM) Sensors Market Estimates Revenue (US$ Million) by Country, 2019 to 2030
• GCC Countries
• South Africa
• Rest of the Middle East & Africa
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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 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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