Emerging Trends to Drive Continuous Glucose Monitoring Devices Market Growth at 16.7% CAGR Through 2029

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Continuous Glucose Monitoring Devices Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for continuous glucose monitoring devices has seen a swift growth. Its growth trajectory is projected to rise from $8.41 billion in 2024 to $9.79 billion in 2025, yielding a compound annual growth rate (CAGR) of 16.4%. The remarkable growth during the historic phase can be accounted for by elevated patient safety and better health results, elevated demand for diabetes control devices, a surge in the utilization of CGM devices, an increase in the diabetes patient population, and enhanced patient confidence.

How Will the Continuous Glucose Monitoring Devices Market Size Evolve and Grow by 2029?
The market for continuous glucose monitoring devices is anticipated to experience swift expansion in the coming years, with it projected to reach a valuation of $18.18 billion in 2029, growing at a compound annual growth rate (CAGR) of 16.7%. Several factors stand to boost the growth in the forecast period, such as heightened healare expenditures, growing awareness, a rise in diabetes incidences, increasing prevalence of the disease, and the escalating demand for continuous glucose monitoring devices. Looking forward, the market is likely to witness key trends during the forecast period, including breakthroughs in technology, CGM technology innovation, mergers and acquisitions, regulatory acceptances, as well as partnerships and collaborations.

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What Drivers Are Propelling the Growth of Continuous Glucose Monitoring Devices Market Forward?
The continuous glucose monitoring devices market is projected to expand due to the rising numbers of diabetes cases. Diabetes, a condition characterized by the body's inability to regulate blood sugar levels properly, is primarily caused by poor diet, lack of physical activity, obesity, an aging population, and genetic factors. Continuous glucose monitoring (CGM) devices play a critical role in managing diabetes by offering real-time information on blood glucose levels, leading to timely modifications in treatment and lifestyle choices. For example, the Office for Health Improvement & Disparities, a UK government department, reported in March 2024, that between March 2022 and March 2023, the number of individuals with type 1 diabetes that received all eight suggested care processes increased by 22%, and for those with type 2 diabetes, it grew by 21%. Moreover, individuals achieving target HbA1c levels rose to a record high of 37.9%, as per the National Diabetes Audit (NDA). Hence, the escalating prevalence of diabetes is stimulating the continuous glucose monitoring devices market's growth.

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What Are the Key Trends Driving Continuous Glucose Monitoring Devices Market Growth?
Leading firms in the continuous glucose monitoring devices market are focusing on the advancement of novel technologies such as over-the-counter glucose monitors. These advancements aim to improve user experience in terms of accessibility, precision, and simplicity in the management of blood sugar levels. Over-the-counter continuous glucose monitors are devices enabling individuals to keep records on their blood sugar levels continually without a prescription requirement. For example, in September 2024, Abbott Laboratories, a medical device corporation based in the US, unveiled the Lingo continuous glucose monitoring (CGM) system aimed at delivering real-time, consistent glucose data to users. The appliance provides real-time and continuous tracking of glucose levels, offering immediate updates on blood sugar levels throughout the day. Its design is sleek and user-friendly, with clear display readings and effortlessly integrates with mobile applications for trend monitoring and alert notifications.

What Are the Key Segments in the Continuous Glucose Monitoring Devices Market?
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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Who Are the Key Players Shaping the Continuous Glucose Monitoring Devices Market's Competitive Landscape?
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 inson 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 Geographic Markets Are Powering Growth 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.

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