Continuous Glucose Monitoring System Market Research Report Forecast till 2032
Continuous Glucose Monitoring System Market is projected to register a CAGR of 11.24% during the review period.
The rising pervasiveness of diabetes overall stands apart as a conspicuous driver energizing the development of the worldwide continuous glucose monitoring systems market. Diabetes has arrived at plague extents, with a stunning ascent in the quantity of impacted people universally. As per the Global Diabetes Alliance (IDF), in 2021, roughly 537 million individuals overall were living with diabetes, and this number is supposed to take off to 643 million by 2030. Essentially, as per the American Diabetes Affiliation, diabetes impacted 38.4 million Americans, or 11.6% of the populace, in 2021. Type 1 diabetes influences around 2.0 million Americans, including roughly 304,000 youngsters and teenagers. The heightening rate of diabetes is ascribed to different elements, including stationary ways of life, unfortunate dietary propensities, and the maturing populace. As the diabetic populace keeps on developing, the interest for powerful diabetes the board arrangements turn out to be really squeezing. Continuous glucose monitoring systems assume a vital part in giving constant experiences into blood glucose levels, empowering patients and medical care experts to settle on convenient and informed choices in regard to therapy and way of life changes. The capacity of continuous glucose monitoring systems to offer continuous monitoring, early discovery of variances, and customized bits of knowledge lines up with the developing requirements of the extending diabetic populace.
Market SegmentationBased on product the continuous glucose monitoring system market is divided into sensors and transmitter and receivers.
In terms of application, the market is classified into type 2 diabetes, type 1 diabetes, and non-diabetic patients.
Based on End user, the market has been divided into hospitals & clinics, homecare settings, and others.
Regional InsightsThe North America continuous glucose monitoring systems market represented USD 3.07 billion out of 2023 and is projected to develop at a CAGR of 10.06% during the figure time frame. North America is additionally fragmented into the US, and Canada.
The North America continuous glucose monitoring systems market is encountering strong development, driven by mechanical progressions and a rising predominance of diabetes in the region.
Europe continuous glucose monitoring System market represented the second-biggest market share because of innovation progressions, expanding medical care consumption, and expanding pervasiveness of diabetes.
The Asia-Pacific Continuous Glucose Monitoring System market is supposed to be the quickest developing from 2023 to 2030 attributable to high persistent populace, decreased expenses of leading preliminaries, and good administrative arrangements. In addition, central participants working in the Continuous Glucose Monitoring System Market are effectively venturing into this region, further driving the regional market development.
Major PlayersKey Companies operating in the Continuous Glucose Monitoring System market are Dexcom, Inc (US), Menarini Diagnostics Srl (Italy), Senseonics (US), Medtrum Technologies Inc. (China), Nemaura Medical Inc (US), Ultrahuman Healthcare Pvt Ltd (India), Medtronic (Ireland), One Drop (US), Abbott Laboratories, Inc. (US), and Sinocare (China).