Continuous Glucose Monitor System Market Growth Accelerates: Strategic Forecast Predicts $16.76 Billion by 2029

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What Will the Continuous Glucose Monitor System Industry Market Size Be by 2025?
There has been rapid expansion in the continuous glucose monitor system market in the recent past. The market, valued at $8.38 billion in 2024, is estimated to rise to $9.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.6%. The growth experienced during the historic period can be credited to various factors such as an increasing elderly population, heightened consciousness about managing diabetes, a rise in disposable income, more investment into research and development, and amplified healthcare spending.

What's the Long-Term Growth Forecast for the Continuous Glucose Monitor System Market Size Through 2029?
The market size for the continuous glucose monitor system is predicted to witness substantial growth in the coming years, expanding to $16.76 billion in 2029 with a compound annual growth rate (CAGR) of 14.9%. Factors contributing to this growth during the forecasting period include a higher incidence of diabetes, increasing obesity rates, socio-economic developments, more clinical trials, and swelling urbanization. Key trends identified for the forecast period involves harmonization with smart gadgets, escalated usage of artificial intelligence (AI), non-intrusive monitoring solutions, the progression of wearable technology, the surge of telemedicine, and the emergence of remote health care services.

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What Are the Key Growth Drivers Fueling the Continuous Glucose Monitor System Market Expansion?
The escalating incidence of diabetes is projected to drive the continuous glucose monitor system market's expansion. Diabetes is a long-term health issue marked by elevated blood sugar levels due to the body's ineffective insulin production or usage. The surge in diabetes predominantly results from rising obesity rates, poor eating habits, insufficient physical activity, and an aging population. Continuous Glucose Monitoring Systems offer immediate glucose readings, assisting in diabetes management by identifying trends and issuing warnings for unusual levels. They enhance glycemic control while reducing the dependence on frequent finger sticks. For example, as per the National Health Service, a UK government entity, in June 2024, the NHS found an additional 549,000 people in 2023 in England who are at risk of developing type 2 diabetes. This brings the total count of individuals with non-diabetic hyperglycemia, or pre-diabetes, registered with a GP to 3,615,330. This is a substantial surge from 3,065,825 in 2022, indicating a nearly 20% increase. Hence, the escalating incidence of diabetes is promoting the expansion of the continuous glucose monitor system market.

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What Long-Term Trends Will Define the Future of the Continuous Glucose Monitor System Market?
Prominent organizations in the continuous glucose monitor system market are investing in the creation of advanced over-the-counter (OTC) continuous glucose monitors (CGMs) to better accessibility and extend their influence among users who do not have a prescription. OTC CGMs are devices that monitor glucose levels in real time, without requiring a prescription, granting consumers the ease and convenience of independent glucose monitoring. For example, in September 2024, US medical device company Abbott Laboratories launched a product called Lingo in the United States. This device, designed for adults who do not have diabetes, allows users to monitor their glucose, providing insights into how diet and exercise affect overall health. Its wearability lasts up to 14 days and supports the Abbott strategy to cater to the increasing consumer market interested in prediabetes management and wellness, without necessitating a prescription.

How Is the Continuous Glucose Monitor System Market Segmented?
The continuous glucose monitor system market covered in this report is segmented -

1) By Component: Transmitters, Receivers, Sensor
2) By Technology: Real Time Continuous Glucose Monitoring, Intermittently Scanned Continuous Glucose Monitoring
3) By Demography: Child Population, Adult Population
4) By Application: Type-1 Diabetes, Type-2 Diabetes, Gestational Diabetes
5) By End-User: Diagnostics Centers, Hospitals, Clinics, Intensive Care Unit (ICUs), Home Healthcare

Subsegments:
1) By Transmitters: Bluetooth-Enabled Transmitters, Wireless Transmitters
2) By Receivers: Dedicated Devices (CGM Receiver), Smartphone-Based Receivers, Cloud-Connected Receivers
3) By Sensor: Enzyme-Based Sensors, Non-Enzyme-Based Sensors, Electrochemical Sensors

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Which Companies Are Leading the Charge in Continuous Glucose Monitor System Market Innovation?
Major companies operating in the continuous glucose monitor system market are Abbott Corporation, Medtronic PLC, Murata Manufacturing Co. Ltd., Dexcom Inc., Sinocare Inc., Tandem Diabetes Care Inc., Ascensia Diabetes Care Holdings AG, Glooko Inc., DarioHealth Corp., Menarini Diagnostics SRL, Senseonics Holdings Inc., WaveForm Technologies Inc., Medtrum Technologies Inc., Biolinq Incorporated, Ultrahuman Inc., GlySens Incorporated, Glucotrack, EOFLOW CO. LTD., Nemaura Medical Inc., Meiqi Medical Equipment, Nipro Diagnostics UK Limited

Which Regions Are Leading the Global Continuous Glucose Monitor System Market in Revenue?
North America was the largest region in the continuous glucose monitor (CGM) system market in 2024. The regions covered in the continuous glucose monitor system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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