Continuous Glucose Monitoring (CGM) Market Report

Continuous glucose monitoring (CGM) is considered as a vital and cost-effective tool to manage type 1 diabetes. The adoption of CGM devices by public and private healthcare systems is rising due to the increasing prevalence of diabetes and increased awareness among healthcare professionals and patients about the benefits of CGM. Also, patients are increasingly preferring devices that offer continuous monitoring without the need for frequent finger pricks. As per the information provided by WHO about 422 million people have diabetes globally, the majority is living in less economically developed countries, and 1.5 million deaths are directly attributed to diabetes each year. Additionally, the rising geriatric population is accelerating the growth of the CGM market.

Real-time CGM (rtCGM) devices provide real-time glucose reading in order to help diabetic patients and healthcare professionals to manage their diabetes more effectively. CGM offers convenience by automatically transmitting glucose data to smartphones or other connectivity devices enabling easier monitoring and management. Evolving lifestyles of people, rising sedentary behavior, consuming unhealthy diet, high consumption of alcohol and tobacco contribute to the prevalence of obesity, which in turn leads to rise in prediabetes cases. Overall, the growth of CGM devices is driven by a combination of technological innovation, clinical benefits, patient preference, supportive regulatory environment, and healthcare considerations. CGM market is highly competitive with well-established players, focusing on innovation and market disruption, leading to continuous improvement in CGM technology.

Development and innovation create an opportunity for market players to gain traction. Regulatory agencies are increasingly recognizing the clinical benefits of CGM systems, thus heavily encouraging manufacturers to invest in research and development and leading to market growth.  CGM systems provide patients with actionable insights and real-time feedback, fostering greater engagement in self-care and adherence. CGM system is segmented into sensors, transmitters and receivers, the sensor segment witnesses large avenues, as sensors are small, flexible devices that is inserted beneath the skin, usually on the abdomen or arm. Additionally, the rising prevalence of type 1 diabetes is fuelling the demand for CGM devices due to the several advantages such as helping in reducing hypoglycemia and offers real-time data regarding one’s glucose levels, reducing multiple pricking and improving the level of glycemia control in individual.

With the help of technology, it has become easier to manufacture CGMs, thus healthcare guidelines have recently allowed the widespread adoption of CGMs. While some CGMs offer smartphone apps for viewing real-time data on the screen and for users who don’t use a smartphone; CGM device can send glucose information to a compatible insulin pump as well. With the rising predominance of diabetes around the world, companies are focused on creating modern and moved-forward CGM gadgets that offer superior precision, user-friendliness and affordability. Furthermore, the future scope of the market looks promising due to the rising adoption of R&D, which is anticipated to open new avenues for growth and innovation in CGM devices and contribute to the growth of the CGM market over the forecast period. Thus, investments in R&D to improve product quality plays a vital role.

• Artificial intelligence-powered devices for early detection of potential health issues.
• Ergonomic and subtle wearable CGM devices.
• Consumers shift towards non-invasive and minimally invasive CGM alternatives
• Android monitoring - a combined, portable, and convenient method for monitoring glucose levels.

The high cost of CGM devices including transmitters and sensors can be prohibitive to some consumers, particularly in regions with limited insurance coverage or health reimbursement. As the CGM market is heavily competitive with well-established market players, thus well-established companies can be major challenge for new entrants and companies may challenge in competing, distribution networks, consumers' trust and brand recognition. However, as CGM manufacturing requires significant investment and resources to complete the necessary clinical trials and obtain regulatory approval, regulatory factors can also be the barrier to the entry of new entrants. Traditional blood glucose monitoring (BGM) devices are a major substitute for CGM devices, as they are cost-effective and ergonomic, and some patients may find fingerstick testing to be more convenient or intrusive than wearing a sensor on their body. Additionally, alternatives for CGM are insulin devices and flash glucose monitoring (FGM) which can hamper the growth of CGM market.  CGM devices relies on technology, as a result sometimes CGMs can be inaccurate which can hinder the adoption of device by consumers. Depending on the setting of CGM, a user may get several alarms which can be distressing and lead to burnout which may also disrupt users sleep. Also, one of the primary restrain for CGM devices is their cost, as it covers sensors and transmitters, with at-home sensors lasting only for 10-14 days. Thus, manufacturers must balance between affordability and product quality to maintain the growth of CGM market.

Rising technological advancements have led to the development of more ergonomic CGM transmitters. The integration of wireless connectivity features in CGM offers seamless data transmission to compatible devices such as smartphone and smartwatches for enhancing the overall user experience. The increasing adoption of CGM in both clinical and home settings would add to market progression. For instance, in December 2023, Dexcom announced that the Dexcom G7 ergonomic CGM connected to the tandem t:slim X2 insulin pump with a 30 min sensor warmup which allows users to share glucose data with their loved ones or health care teams in real-time through industry-leading remote monitoring capabilities. Additionally, in May 2024, collaboration between Trinity Partners and Pulse AI had resulted in the development of CGM sensor technology, which was focused on incorporating the Trinity’s AI-driven health and wellness analytics platform with the CGM technology, which it acquired from Waveform in January. Similarly, addressing development in CGM market, FDA (Food and Drug Administration) cleared for marketing the first over-the-counter (OTC) CGM. The Dexom Stelo Glucose Biosensor System which is an integrated CGM (iCGM) intended for 18 years and older individuals who does not use insulin. Thus, collaboration and innovations are leading to the expansion of CGM market.

North America region is dominating the continuous glucose monitoring market, due to the rising prevalence of diabetes, increasing adoption of CGM devices, technological advancements and tech-savvy consumer base. Additionally, the efforts taken by the government to reduce the burden of disease in a larger level is fuelling the demand for the continuous glucose monitoring market. European countries such as Germany and UK leading due to robust healthcare systems and increasing diabetic populations. Asia-Pacific is expected to witness growth during the forecast period. Most of the diabetic patients are addressed in the Asia-Pacific region. The high prevalence of disease in developing countries such as India and China have been fuelling the demand for CGM devices. Moreover, rising healthcare expenditure, and increasing investment in research and development by companies are driving the CGM market.

The report provides a detailed overview of the continuous glucose monitoring market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for continuous glucose monitoring market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the continuous glucose monitoring market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the continuous glucose monitoring market. Some key country and region included in the continuous glucose monitoring market report as follows:

• Continuous glucose monitoring market detailed segments and segment-wise market breakdown
• Continuous glucose monitoring market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in continuous glucose monitoring industry)
• Current, historical and forthcoming 10 years market valuation in terms of continuous glucose monitoring market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Continuous glucose monitoring market demand analysis
• Continuous glucose monitoring market pricing analysis over forecast period (by key segment and by region)
• Continuous glucose monitoring market regional insights with region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in continuous glucose monitoring market
• Regulatory landscape by key regions and key countries
• Supply chain and value chain analysis in continuous glucose monitoring market
• Continuous glucose monitoring market sales and distribution strategies
• A comprehensive overview of parent market
• A detailed viewpoint on continuous glucose monitoring market forecast by countries
• Mergers and acquisitions in continuous glucose monitoring market
• Essential information to enhance market position
• Robust research methodology