Global Continuous Glucose Monitoring Devices Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Continuous Glucose Monitoring Devices Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Continuous Glucose Monitoring Devices (CGM) automatically track blood glucose levels throughout the day and night. CGM works by using tiny sensors inserted under the skin, usually in the abdomen or arm. The sensor measures the body's interstitial glucose levels, the glucose in the fluid between cells. The sensor tests for glucose every few minutes. The transmitter sends the information wirelessly to the monitor. A continuous glucose monitoring device may be part of an insulin pump, or it may be a separate device that they carry in their pocket or purse. Some CGMs send information directly to a smartphone or tablet.

Market Overview:

The latest research study on the global Continuous Glucose Monitoring Devices market finds that the global Continuous Glucose Monitoring Devices market reached a value of USD 9056.79 million in 2023. It’s expected that the market will achieve USD 15798.93 million by 2029, exhibiting a CAGR of 9.72% during the forecast period.

Impact of COVID-19 on Supply Chain

The COVID-19 pandemic has caused global disruption to trade, finance, health and education systems, businesses, and societies. The impact of the epidemic on the industrial chain lies in the supply of raw materials, production, transportation, warehousing, wholesale, retail, and other processes. The stagnation of transportation, the inability of employees to return to work, the implementation of epidemic prevention measures, etc. have caused these processes to be affected. The result is delayed production planning and reduced timely delivery capabilities.

The epidemic has led to changes in supply and demand and sales channels, reduced demand for commodities, the rapid development of online sales platforms, and the rise of remote office models. This has given some industries opportunities to expand sales channels and has also caused difficulties in obtaining orders and increased production costs for some enterprises, especially small and medium-sized enterprises with low anti-risk capabilities.

Often in an uncertain economic environment, companies slow down technology investments. But some businesses haven't stopped investing in technology during the COVID-19 pandemic. This illustrates the value of digital supply chains in helping businesses respond to disruptive forces and respond more quickly to fluctuating supply and demand.

The pandemic continues to pose major challenges to global supply chains. But it doesn't necessarily introduce any new challenges to the supply chain. In some areas, it exposed previously unseen vulnerabilities, including staffing shortages and losses from shutdowns. But overall, it accelerates and amplifies problems that already exist in the supply chain.

After the devastation wrought by the COVID-19 pandemic, businesses plan to change their supply chain strategies to become more resilient, sustainable, and better collaborate with customers, suppliers, and other stakeholders.

Substitutes Threat

A blood glucose meter is a medical device that measures blood sugar levels. A blood glucose meter usually uses a disposable test strip to contain the blood drawn from the fingertip, and then the instrument reads and analyzes the test strip to obtain the blood sugar level. The blood glucose meter has been around for more than 50 years. Patients can measure their blood sugar by themselves and see the results immediately and can adjust their medication in time. The treatment of diabetes has been greatly improved. The basic principle of the blood glucose meter is the reaction between glucose in the serum and glucose oxidase on the test paper. Current devices usually use electrochemical measurements to measure the electric current generated during the reaction to obtain the blood sugar value. After several improvements, the degree of automation and accuracy has been improved, and errors have been reduced. Blood glucose meters are common equipment for diabetic patients in developed countries and have also been promoted and used in developing countries in recent years. The gold standard for accuracy in blood glucose measurement is the blood draw measurement, and both fingersticks and CGMs have margins of error that meet this standard.

However, Continuous Glucose Monitoring Devices and blood glucose meters have different application scenarios. Continuous Glucose Monitoring Device mainly provides continuous monitoring to patients in the clinic to prevent acute complications and treatment-related adverse events. The blood glucose meter obtains the blood glucose value by taking fingertip blood each time and uses small equipment and disposable test strips to provide convenience for daily self-testing of diabetic patients. Therefore, Continuous Glucose Monitoring Devices have a low threat of substitution.

Region Overview:

North America had the highest growth rate of all regions.
In 2022, the share of the Continuous Glucose Monitoring Devices market in North America stood at 55.34%.

Company Overview:

Abbott
From removing the regular pain of fingersticks as people manage their diabetes to connecting patients to doctors with real-time information monitoring their hearts, from easing chronic pain and movement disorders to testing half the world’s blood donations to ensure a healthy supply, Abbott purpose is to make the world a better place by bringing life-changing health technologies to the people who need them.
Dexcom
DexCom is a company that develops, manufactures, produces and distributes continuous glucose monitoring systems for diabetes management.
Abbott is one of the major players operating in the Continuous Glucose Monitoring Devices market, holding a share of 9.95% in 2023.
The major players operating in the Continuous Glucose Monitoring Devices market include Abbott，Dexcom，Medtronic，Senseonics，YUYUE MEDICAL etc. Among which, Company1 ranked top in terms of sales and revenue in 2023.

Segmentation Overview:

Sensors
The CGM sensor is the most complex part of the device. These sensors use the enzyme glucose oxidase to detect blood sugar levels.
Transmitters & Receivers
The transmitter is a small portable part that can be mounted on the sensor. The device is capable of wirelessly sending glucose data from connected sensors to the monitor.
The Sensors segment by type showed a value growth of 72.37% in 2022.
Among different product types,Sensors segment is anticipated to contribute the largest market share in 2028.

Application Overview:

Diabetic Patients
There are three main types of diabetes: type 1, type 2, and gestational diabetes (diabetes developed during pregnancy).
Healthy Individuals
Healthy individuals have not been diagnosed with diabetes, but some of them may be at higher risk for diabetes.
By application, the Diabetic Patients segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Continuous Glucose Monitoring Devices market covered in Chapter 3:

YUYUE MEDICAL
Abbott
Dexcom
Senseonics
MicroTech Medical 
Medtronic

In Chapter 4 and Chapter 14.2, on the basis of types, the Continuous Glucose Monitoring Devices market from 2019 to 2030 is primarily split into:

Transmitters & Receivers
Insulin Pumps

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Continuous Glucose Monitoring Devices market from 2019 to 2030 covers:

Diabetic Patients
Healthy Individuals

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)