Continuous Glucose Monitoring Systems (CGMS) Market by Device Type (Real-time CGMS, Flash Glucose Monitoring, and Intermittently Scanned CGM), by Type (Non-invasive and Invasive), by Components (Transmitters & Receivers, Sensors, and Integrated Insulin Pumps), by Demographics (Child Population (<=14years) and Adult Population (>14years)), and by End-Users (Diagnostics Centres, Hospitals, Clinics, ICUs, and Home Healthcare)- Global Opportunity Analysis and Industry Forecast 2023-2030

Market Definition

The global Continuous Glucose Monitoring Systems (CGMS) Market was valued at USD 7.12 billion in 2022 and is predicted to reach USD 16.05 billion by 2030, registering a CAGR of 9.7% from 2023 to 2030. Continuous Glucose Monitoring Systems (CGMS), commonly known as a continuous glucose monitoring system is a medical device that helps in the management and monitoring of diabetic patients. It mainly monitors increase and decrease in the glucose level of the patient.

Continuous Glucose Monitoring Systems (CGMS) helps to track glucose levels in real-time which can further assist the patients to make more informed decisions throughout the day on balancing food, physical activities, and medicines. The inbuilt biosensor in Continuous Glucose Monitoring Systems (CGMS) measures the glucose levels in interstitial fluid or blood by transmitting the information using a transmitter to the receiver for displaying the results. The transmitter wirelessly sends the data to a monitor that can be part of an insulin pump or an individual device. Continuous Glucose Monitoring Systems (CGMS) are easy to carry in a pocket and are very useful to send information directly to a smartphone as they can be connected wirelessly to send outputs.

Market Dynamics and Trends

The increasing number of diabetic patients along with the growing healthcare infrastructure across the world is driving the growth of the Continuous Glucose Monitoring Systems (CGMS) market. According to the International Diabetes Federation (IDF), the estimated number of people with diabetes (aged 20-79) people worldwide in 2021 was 536.6 million per 1000 people.

The adoption of Continuous Glucose Monitoring Systems (CGMS) devices due to increasing advancements and R&D projects, such as Dexcom for Bluetooth (G5 Mobile CGM system), is expected to propel the market growth. Moreover, the rising number of obesity cases and unhealthy eating habits that can cause diabetes are further expected to drive the growth of the Continuous Glucose Monitoring Systems (CGMS) market.

According to the World Obesity Atlas 2022’s prediction, about 1 billion people worldwide, or 1 in 5 women and 1 in 7 men, will be obese by 2030. Furthermore, the exceptional and convenient functionalities of Continuous Glucose Monitoring Systems (CGMS) devices that include exercising, playing, or sleeping boost the demand for Continuous Glucose Monitoring Systems (CGMS) devices.

The lack of accuracy of Continuous Glucose Monitoring Systems (CGMS) devices in monitoring frequent calibration, inadaptation, and inadequate medical reimbursement are the factors restraining the growth of the market during the forecast period. On the contrary, Continuous Glucose Monitoring Systems (CGMS) is a better alternative to portable finger-prick glucometers and conventional devices, making CGM devices more favorable than other devices. This is expected to create ample growth opportunities for the Continuous Glucose Monitoring Systems (CGMS) market in the coming years.

Market Segmentations and Scope of the Study

The Continuous Glucose Monitoring Systems (CGMS) market share is segmented on the basis of device type, type, component, demographics, end-users, and region. On the basis of device type, the market is segmented into real-time Continuous Glucose Monitoring Systems (CGMS), flash glucose monitoring, and intermittently scanned CGM. On the basis of type, the market is characterized as non-invasive and invasive. On the basis of components, the market is divided into transmitters & receivers, sensors, and integrated insulin pumps.

On the basis of demographics, the market is classified into child population (<=14years) and adult population (>14years). On the basis of end-users, the market is categorized into diagnostics centres, hospital, clinics, ICUs, and home healthcare. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW. 

Geographical Analysis

North America held the predominant share of the Continuous Glucose Monitoring Systems (CGMS) market in 2022 and is expected to continue its dominance during the forecast period. This is attributed to factors such as the growing cases of diabetes patients in the region. According to the World Bank, diabetes prevalence in the U.S. between ages 20 to 79 was reported at 10.7% in the year 2021. It shows there is a significant growth opportunity for the adoption of Continuous Glucose Monitoring Systems (CGMS) devices as population in this region is highly health conscious compared to any other region.

Moreover, the presence of key players such as Abbott Laboratories, Dexcom, Inc., and Medtronic Plc coupled with the growing approvals of Continuous Glucose Monitoring Systems (CGMS) products boosts the market growth in this region. For instance, in March 2023, Abbott Laboratories received the approval from United States Food and Drug Administration (FDA) for its FreeStyle Libre 2 and FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) system sensors for integration with automated insulin delivery (AID) systems. Abbott modified the sensors to enable integration with AID systems. It is a significant development for people with diabetes. It will make it easier for people to use these sensors with AID systems, which can improve their diabetes management.

In addition, in December 2022, Dexcom's G7 continuous glucose monitoring (CGM) system received FDA clearance and is now the most accurate CGM system cleared in the U.S. for use in people with diabetes ages 2 years and older. It provides people with a more accurate and user-friendly CGM system that can help them better manage their diabetes.

Asia-Pacific is expected to show a steady rise in the Continuous Glucose Monitoring Systems (CGMS) market during the forecast period, driven by the high number of diabetes patients in India and China. According to the World Bank, diabetes prevalence in China between ages 20 to 79 was reported at 10.6% in the year 2021. This indicates that a large number of people in China are living with diabetes, and they are likely to be potential users of Continuous Glucose Monitoring Systems (CGMS) devices.

Also, the presence of major Continuous Glucose Monitoring Systems (CGMS) companies such as Terumo Corporation, BeatO, and iXensor that help to innovate CGM products for diabetic individuals drive the market in the region. In July 2021, Terumo launched the Dexcom G6 CGM System in Japan that supports diabetes control with real-time glucose readings and a predictive alert for low glucose levels. The launch of the Dexcom G6 CGM System in Japan is an important milestone for Terumo as it promises to commit to contribute to diabetes care comprehensively.

Moreover, regional companies are focusing towards the development of affordable Continuous Glucose Monitoring Systems (CGMS) to cater the growing demand coming from the end user industry. Thus, driving the Continuous Glucose Monitoring Systems (CGMS) market growth in this region. For instance, in June 2023, CareSens Air received approval of South Korean Ministry of Food and Drug Safety for its blood glucose device maker i-SENS. It is the smallest and lightest CGM device available in South Korea, and it can be used for up to 15 days without needing to be recalibrated.

Competitive Landscape

Various key players operating in the Continuous Glucose Monitoring Systems (CGMS) industry include Medtronic, Abbott, Dexcom Inc, F. Hoffmann-La Roche Ltd, Novo Nordisk A/S, Ypsomed AG, GlySens Incorporated, Insulet Corporation, Senseonics Holdings, Inc., and Bayer among others. These market players are adopting various strategies including product development, expansion, and acquisition across several regions to maintain their dominance in the Continuous Glucose Monitoring Systems (CGMS) market. For instance, in September 2023, Dexcom expanded access to its real-time CGM system with improved accuracy and convenience of the system., Dexcom ONE, to half a million more people with diabetes in France.

Moreover, in June 2023, Senseonics announced that UnitedHealthcare will now cover the Eversense E3 CGM system for adults with diabetes. It makes the system more affordable and accessible to people with diabetes, who can benefit from the improved accuracy and convenience of the system.

In addition, in April 2023, Medtronic announced to acquire EOFlow, a South Korean company that develops and manufactures wearable insulin patches. It gives Medtronic a new platform for developing and commercializing wearable insulin delivery devices. This could help Medtronic to expand its reach to people with diabetes who are looking for more convenient and comfortable ways to manage their condition.

Furthermore, in May 2021, Medtronic received FDA approval for the Guardian 4 sensor, a Continuous Glucose Monitoring Systems (CGMS) that does not require fingerstick calibration or diabetes treatment. It can be used with either the InPen or MiniMed 780G insulin pump system, and it sends real-time glucose readings to a smartphone app.

Key Benefits

• The report provides a quantitative analysis and estimations of the Continuous Glucose Monitoring Systems (CGMS) market from 2023 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the Continuous Glucose Monitoring Systems (CGMS) market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the Continuous Glucose Monitoring Systems (CGMS) market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and a Porter’s Five Forces model is elaborated on in the study.

• Value chain analysis in the Continuous Glucose Monitoring Systems (CGMS) market study provides a clear picture of the roles of stakeholders.

Continuous Glucose Monitoring Systems (CGMS) Market Key Segments

By Device Type

• Real-time Continuous Glucose Monitoring Systems (CGMS)

• Flash Glucose Monitoring

• Intermittently Scanned CGM

By Type

• Non-invasive

• Invasive

By Component

• Transmitters & Receivers

• Sensors

• Integrated Insulin Pumps 

By Demographics

• Child Population (<=14years)

• Adult Population (>14years) 

By End User

• Diagnostics Centres

• Hospitals

• Clinics

• ICUs

• Home Healthcare

By Region

• North America 

  • The U.S

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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