Continuous Glucose Monitoring Systems Market by Component (Integrated Insulin Pumps, Sensors, Transmitters & Receivers), Demographics (Adult Population, Children Population), Patient Type, End User, Distribution Channel - Global Forecast 2024-2030

Continuous Glucose Monitoring Systems Market by Component (Integrated Insulin Pumps, Sensors, Transmitters & Receivers), Demographics (Adult Population, Children Population), Patient Type, End User, Distribution Channel - Global Forecast 2024-2030

The Continuous Glucose Monitoring Systems Market size was estimated at USD 5.54 billion in 2023 and expected to reach USD 6.21 billion in 2024, at a CAGR 12.37% to reach USD 12.55 billion by 2030.

Continuous Glucose Monitoring Systems (CGMS) are advanced medical devices designed to provide real-time glucose readings at regular intervals, typically every few minutes, 24/7. These systems comprise a small sensor that transmits the data wirelessly to a display device, which could be a dedicated receiver, a smartphone, or a smartwatch, enabling the user to monitor their glucose levels without the requirement of traditional fingerstick blood tests. The growing preponderance of diabetes across the globe and the rising awareness of the benefits of continuous glucose monitoring over traditional blood glucose monitoring are driving the market growth. However, devices' high prices and lack of uniform reimbursement can limit market penetration. Inaccuracies in glucose readings due to device calibration issues or interference from external factors also pose a challenge. Furthermore, leveraging big data and advanced analytics to improve predictive capabilities, personalization, and clinical outcomes creates potential opportunities for market growth.

Regional Insights

The Americas, led by the United States and Canada, show a strong market for CGM systems, aided by higher purchasing power and well-established healthcare systems implementing the latest technologies. The United States & Canada are prominent in CGM technology, with numerous companies researching and developing new systems, evident from a high number of patents filed in this domain. Consumers in the United States have shown an inclination towards maintaining healthy lifestyles, integrating personal health technology with everyday living. There is significant investment and insurance coverage that promotes the use of CGM systems, making them more accessible to the population. European Union countries demonstrate a robust demand for CGM systems, broadly supported by widespread awareness, a push for lifestyle management of diabetes, and favorable insurance reimbursement scenarios. The European Union’s medical device sector is tightly regulated, ensuring high standards of product quality and safety. Countries including Germany, France, and the UK are leaders in the adoption of CGM systems. The Middle East, particularly the Gulf Cooperation Council (GCC) countries, has high per capita healthcare spending and is rapidly adopting advanced technologies in healthcare. Asia Pacific is undergoing a surge in the demand for CGM systems due to the increasing prevalence of diabetes and heightened awareness about the disease. The rising popularity of wearable technology for health monitoring indicates a broad consumer need for convenient and non-intrusive healthcare devices in the APAC region.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Continuous Glucose Monitoring Systems Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing Number of Incidence of Diabetic Patients Globally
    • Growing Regulatory Approvals for the CGM Systems
    • Growing Adoption Rate of CGM Systems in Home Healthcare
    • Market Restraints
      • Occurrence of Adverse Effects and Limited Accuracy of CGM Devices
      • Market Opportunities
        • Technological Advancements and Increased Awareness of CGM Systems
        • Rising Preferences for Non-invasive Methods and Potential Undiagnosed Patient Population
        • Market Challenges
          • Reimbursement and Stringent Regulatory Issues
          • Market Segmentation Analysis
            • Component: Increasing utilization of transmitters & receivers in CGM systems for real-time glucose monitoring
            • Demographics: Ongoing advancements in children CGM systems to make it more effective and less invasive
            • Patient Type: Rising significance of CGM system in Type 1 diabetes patient for high accuracy, minimal lag time, and predictive alerts for rapid glucose changes
            • End User: Growing preference of CGM systems by home patients with remote data sharing capabilities
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Continuous Glucose Monitoring Systems Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Continuous Glucose Monitoring Systems Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Sibionics obtains CE Mark for GS1 continuous glucose monitoring system
              
              Sibionics, a Chinese medical technology startup, has received the CE Mark for its pioneering GS1 Continuous Glucose Monitoring (CGM) system, signaling the green light for the system's sale and usage across the European market. This certification confirms the GS1 CGM's compliance with stringent EU standards for quality, safety, and performance, which are essential for consumer trust.
              
              Dexcom targets Americans with new CGM aimed at non-insulin-using diabetics
              
              Dexcom is set to revolutionize the continuous glucose monitoring (CGM) market by unveiling a new device tailored for Americans living with Type 2 diabetes who do not require insulin therapy. This strategic move addresses a critical gap, highlighted by Dexcom's research, which is that a mere 5% of this demographic currently utilizes CGM technology.
              
              U.S. FDA Clears Abbott's Freestyle Libre 2 and Freestyle Libre 3 Sensors for Integration with Automated Insulin Delivery Systems
              
              Abbott has announced FDA clearance for its next-generation FreeStyle Libre 2 and FreeStyle Libre 3 iCGM sensors, paving the way for their seamless integration with automated insulin delivery (AID) systems. Expanding their versatility, the improved sensors offer additional convenience and support for diabetes management by pairing them with insulin pumps to adjust insulin delivery automatically based on continuously monitored glucose levels.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Continuous Glucose Monitoring Systems Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Continuous Glucose Monitoring Systems Market, highlighting leading vendors and their innovative profiles. These include A. Menarini Diagnostics s.r.l, Abbott Laboratories, AgaMatrix Inc. by I-Sens Inc., Ascensia Diabetes Care Holdings AG, Dexcom, Inc., F. Hoffmann-La Roche Ltd., Insulet Corporation, Johnson & Johnson Services, Inc., Medtronic PLC, Medtrum Technologies Inc., Nemaura Medical Inc., Novo Nordisk A/S, NXP Semiconductors N.V., Senseonics Holdings Inc., Sibionics, STMicroelectronics N.V., Tandem Diabetes Care, Inc., Texas Instruments Incorporated, and Ypsomed Holding AG.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Continuous Glucose Monitoring Systems Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Component
              • Integrated Insulin Pumps
              • Sensors
              • Transmitters & Receivers
              • Demographics
                • Adult Population
                • Children Population
                • Patient Type
                  • Type 1 Diabetes
                  • Type 2 Diabetes
                  • End User
                    • Diagnostic Centers & Clinics
                    • Home Healthcare
                    • ICUs
                    • Distribution Channel
                      • Institutional Sales
                      • Retail Sales
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year