Continuous Glucose Monitoring (Cgm) Market Estimated To Reach Us$17 Billion By 2028

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Continuous glucose monitoring market valued at $4.896 billion in 2021, to grow at a CAGR close to 20% till 2028.

Major factors propelling the CGM market growth include rising diabetes incidences, increasing healthcare expenditure, technological advancements, and enhanced product launches by the market players.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, July 21, 2023/einpresswire.com / -- Knowledge Sourcing Intelligence has published a new study on the continuous glucose monitoring (cgm) market forecasted between 2023 and 2028. According to the report, the continuous glucose monitoring (CGM) market is anticipated to grow at a CAGR of 19.16% over the forecasted period, to reach US$16.698 billion by 2028, from a valuation of US$4.896 billion in 2021.

Some of the prime factors propelling the continuous glucose monitoring (CGM) market growth include the growing incidences of diabetes, increasing healthcare expenditure, technological advancements, and enhanced product launches by the market players among others.

Continuous glucose monitoring (CGM) is a technology used by individuals with diabetes and other health conditions to continuously monitor their blood glucose levels throughout the day and night. It provides real-time data on glucose levels, allowing for better management of diabetes and more informed treatment decisions. CGM systems can be programmed to provide alerts and alarms when glucose levels are too high or too low.

Collaborations and technological advancements among the market players are further driving the CGM market forward. For instance, In May 2022, DexCom introduced its latest continuous glucose monitoring (CGM) device, called "Dexcom ONE," in the United Kingdom. This advanced device allows for continuous monitoring of glucose levels and sends real-time readings directly to a compatible smart device via the Dexcom ONE app.

In September 2022, Transdermal Diagnostics secured funding of £1.1 million from Innovate UK to support the commercialization of its wearable continuous glucose monitor technology. The investment aims to facilitate the production and distribution of the company's innovative CGM device.

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The continuous glucose monitoring (CGM) market is divided into diabetes patients, and critical care patients depending on the application. The growing demand for advanced wearable technology and diabetes care is expected to drive the diabetes patient segment growth during the forecast period. For instance, there were around 537 million diabetes patients (20-79 years) in 2021 and it is estimated to reach 642 million (20-79 years) by 2030 according to the International Diabetes Federation.

The market is segmented as hospitals, diagnostic centers & clinics, and home care based on the end-user. CGM systems have seen significant adoption in home care settings. Many individuals with diabetes use CGM devices at home to continuously monitor their glucose levels due to the rising adoption of home care services. For instance, in the UK, there were around 467 thousand people using home care services in 2019-20 as per the NHS Digital Data.

According to geographical segmentation, North America is estimated to hold a sizable share of the continuous glucose monitoring (CGM) market during the forecast period owing to the higher prevalence of diabetes, rising geriatric population, and technological advancements coupled with strong healthcare facilities. For instance, an estimated 37.3 million Americans (11.3%) were diabetic as per the CDC 2022 report. Moreover, the market players are adopting various ways to enhance CGM accessibility in the region. For instance, Abbott introduced a more affordable option for diabetic patients in the United States in May 2022. This new category, known as Libre, is priced at approximately USD 75 to USD 150 per month, covering two sensors that can be used for 14 days each.

The market research study includes coverage of Dexcom Inc, Abbott Laboratories, Medtronic Pvt. Ltd, GlySens, Medtrum Technologies Inc, Tandem Diabetes Care, Sensonics, A. Menarini Diagnostics s.r. I, Roche Diagnostics, and Ypsomed among other significant market players in the continuous glucose monitoring (CGM) market.

This continuous glucose monitoring (CGM) market report has been segmented as follows:

.By Application

oDiabetes Patients
oCritical Care Patients

.By End-User

oHospitals
oDiagnostic Centers & Clinics
oHome Care

.By Geography

oNorth America

.USA
.Canada
.Mexico

oSouth America

.Brazil
.Argentina
.Others

oEurope

.UK
.France
.Germany
.Spain
.Others

oMiddle East and Africa

.Saudi Arabia
.UAE
.Israel
.Others

oAsia Pacific

.Japan
.China
.India
.South Korea
.Taiwan
.Indonesia
.Thailand
.Others

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698

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