Increasing Prevalence Of Diabetes Driving Growth In The Continuous Glucose Monitoring Devices Market: An Emerging Driver Transforming The Continuous Glucose Monitoring Devices Market Landscape

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What Is the Projected Growth of the Continuous Glucose Monitoring Devices Market?
The market for continuous glucose monitoring devices has seen rapid expansion in recent years. The market value which is standing at $8.41 billion in 2024, is projected to escalate to $9.86 billion in 2025, representing an impressive compound annual growth rate (CAGR) of 17.22%. Several factors have led to this growth in the past years including improved patient safety and health outcomes, a surge in the demand for diabetes management devices, enhanced usage of CGM devices, an increase in the prevalence of diabetes, and heightened patient confidence.

The market size for continuous glucose monitoring devices is predicted to experience swift expansion in the coming years. It is projected to reach $18.45 billion by 2029, with a compound annual growth rate (CAGR) of 16.96%. The anticipated growth over the forecast period is due to factors such as greater healthcare expenditure, rising awareness, a surge in diabetes instances, a higher prevalence of diabetes, and growing demand for continuous glucose monitoring devices. Key trends expected during this period include technological progress, developments in CGM technology, company mergers and acquisitions, regulatory approvals as well as partnerships and collaborations.

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What Are the Different Continuous Glucose Monitoring Devices Market Segments?
The continuous glucose monitoring devices market covered in this report is segmented -

1) By Component: Transmitters, Sensors, Receivers
2) By Connectivity: Bluetooth, 4G
3) By Demography: Child Population, Adult Population
4) By Application: Gestational Diabetes, Type-2 Diabetes, Type-1 Diabetes
5) By End-Use: Hospitals, Homecare Settings, Other End Users

Subsegments:
1) By Transmitters: Bluetooth-Enabled Transmitters, Wireless Transmitters, Integrated Transmitter-Receiver Systems
2) By Sensors: Enzyme-Based Sensors, Electrochemical Sensors, Non-Invasive Sensors
3) By Receivers: Mobile Device Integration (Smartphone Receivers), Standalone Receivers, Cloud-Based Data Sync Receivers

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What Are the Primary Drivers Shaping the Continuous Glucose Monitoring Devices Market?
The escalating occurrence of diabetes is predicted to thrust the progression of the continuous glucose monitoring device market in the future. Diabetes is a health disorder where the body fails to regulate blood sugar levels properly, either because of inadequate insulin production or resistance to insulin. This surge in diabetes can be primarily credited to factors such as an unhealthy diet, inactive lifestyles, obesity, older populations, and genetic susceptibility. Continuous glucose monitoring (CGM) devices play a crucial role in the management of diabetes by supplying immediate information on blood glucose levels, facilitating timely alterations in therapy and way of life. For example, in March 2024, as per the Office for Health Improvement & Disparities, a government department in the UK, from March 2022 till March 2023, the fraction of people with type 1 diabetes receiving all eight advised care procedures increased by 22%, and for type 2 diabetes, it surged by 21%. Moreover, the percentage reaching the target HbA1c levels climbed to 37.9%, the highest figure ever published by the National Diabetes Audit (NDA). Hence, the escalating occurrence of diabetes is fuelling the advancement of the continuous glucose monitoring devices market.

Which Companies Are Leading in the Continuous Glucose Monitoring Devices Market?
Major companies operating in the continuous glucose monitoring devices market are Johnson & Johnson, F. Hoffmann-La Roche AG, Sanofi S.A., Abbott Laboratories, Medtronic Public Limited Company, Novo Nordisk A/S, Becton Dickinson and Company, A. Menarini Diagnostics S.r.l., Dexcom Inc., Bionime Corporation, Insulet Corporation, Ascensia Diabetes Care Holdings AG, Tandem Diabetes Care Inc., i-Sens Inc., Senseonics Holdings Inc., Medtrum Technologies Inc., Biolinq Inc., GlySens Incorporated, Glucotrack Inc., Nemaura Medical Inc.

What Are the Major Trends Shaping the Acellular Dermal Matrices Market?
Major organizations in the market for continuous glucose monitoring devices are focusing their efforts on developing innovative technologies such as over-the-counter continuous glucose monitors. The aim is to improve accessibility, accuracy, and user-friendliness for individuals tracking their blood glucose levels. These over-the-counter monitors enable individuals to continuously monitor their blood glucose levels without a prescription. For example, in September 2024, the US-based medical device company, Abbott Laboratories, introduced the Lingo continuous glucose monitoring (CGM) system. This system is designed to supply users with real-time data on their glucose levels. By delivering real-time, uninterrupted glucose monitoring, the device grants users instant updates about their blood sugar levels throughout the day. It has a sleek and user-friendly design with clear displays and integrates perfectly with mobile applications, allowing for easy follow-up of trend and delivery of alerts.

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What Are the Top Revenue-Generating Geographies in the Continuous Glucose Monitoring Devices Market?
North America was the largest region in the continuous glucose monitoring devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the continuous glucose monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Continuous Glucose Monitoring Devices Market?
2. What is the CAGR expected in the Continuous Glucose Monitoring Devices Market?
3. What Are the Key Innovations Transforming the Continuous Glucose Monitoring Devices Industry?
4. Which Region Is Leading the Continuous Glucose Monitoring Devices Market?

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